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Credit card interest

 
 
Reply Wed 2 Jan, 2008 06:40 pm
If you owe money on several credit cards and become incarcerated and can't pay anything because you are incarcerated, are you respondsible for the interest that amounts?
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Type: Discussion • Score: 2 • Views: 1,460 • Replies: 9
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jasonrest
 
  1  
Reply Thu 3 Jan, 2008 02:43 am
good question.
I don't see any reason why you wouldn't be held responsible.
I could do the research but I'll let someone else do it.

I like me!!!
0 Replies
 
Noddy24
 
  1  
Reply Thu 3 Jan, 2008 07:51 am
Unless you make arrangements with the credit card company, you are liable for the interest.

If you call them and explain the situation, they may agree to freeze the account and allow you to make payments on the principal and accumulated interest after your release.
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jasonrest
 
  1  
Reply Thu 3 Jan, 2008 08:04 am
sounds good.
Do you have a source?
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Miller
 
  1  
Reply Thu 3 Jan, 2008 01:21 pm
Re: Credit card interest
russharv63 wrote:
If you owe money on several credit cards and become incarcerated and can't pay anything because you are incarcerated, are you respondsible for the interest that amounts?


Have no fear, the interest will continue to accumulate while you're in jail. As a matter of fact, the % charged will probably increase because you fail to make your timely payments... Rolling Eyes
0 Replies
 
Noddy24
 
  2  
Reply Fri 4 Jan, 2008 03:07 pm
Jasonrest--

Mr. Noddy has a complicated family, complete with lunatic fringe. I made arrangements for a mentally ill family member to freeze his credit card and pay off the balance, bit by bit by bit. Of course he couldn't make any more charges.

Another member of the fringe allowed her boyfriend to run up nearly $3000 worth of charges. Then boyfriend vanished. Once again, the credit card company agreed to freeze the account as long as she kept making regular payments on the balance.

Finally, a little nitwit eloped on her credit card. When the marriage broke up, Mr. Wrong refused to make any payments on their mutual debits, but the credit card company agreed to freeze the account....

You've got to talk to them and make arrangements in advance.
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jasonrest
 
  1  
Reply Fri 4 Jan, 2008 03:22 pm
I understand.
You know from experience.
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hamburger
 
  1  
Reply Fri 4 Jan, 2008 03:53 pm
if you watch JUDGE JUDY on occasion , you'll quickly find out how screwy things are in this world !
and i'm sure the iNTEREST CHARGE question has been answered on her show more than once !
sorry , but the prison does NOT provide a safe escape from credit card companies !
hbg
0 Replies
 
Noddy24
 
  1  
Reply Fri 4 Jan, 2008 04:31 pm
Jason--

Credit card companies are "reasonable" but they would rather have some money than no money.
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Miller
 
  1  
Reply Sat 5 Jan, 2008 10:48 pm
They'll empty your pockets if you stand still long enough.
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