I have cards from Capital One and the collections agency they hired call me from 7:59am until 8:00pm daily with threats, demands, and I am sure this is not your first letter about this practice.
When I was paying them and putting my rent after them, now my landlord is threatening to evict me now. When I paid what I could it was not enough. Magic question, if my credit limit was 500.00 on a card why do I now owe them 1000.? This is because they are compounding interest daily not on my usage balance, but on the add on activities the system generates for them. GOOD EXAMPLE, my balance was 492. And I had the 9.95 a month credit protection that I purchased with the card. When the cycle time came instead of alerting me and asking me if I want to keep the CCAlert they processed it. Cancelled it because the money wasn't there to cover it, charged me 35.00 over the limit increased my rate and the cycle continues up to my current balance 1000.00 accruing daily. I did not hire collections, why do I have to pay for them, and when my line was shut down why weren't all computations stopped too, and then discussions arranged between myself and the CC companies. Too much for me. I have no desire to pay collection people or reply to threatening letters. If a person cannot have credit cards for emergencies we must try to save cash for that purpose.
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