Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
www86

0 Contributions
0 People Helped
Closed account (credit card)
Bank of America closed my credit card with an outstanding balance. I made monthly payment plan arrangement for the balance to be paid off. But BOA keeps sending me statement requesting total minimum payment due with interest charges (interest charged on purchases) despite a payment plan I made to pay off the account. My question is this: Should I just allow BOA to take it to collections so that I stop been charged interest on purchases since the account has been closed by the Bank.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
13 Contributions
7 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

It's never, EVER a better thing to let any account go to collection. Pay it off asap to reduce the interest. If you allow a new collection, it'll be wrecking your credit for seven years. 

Top Contributor
5038 Contributions
1136 People Helped

You should contact BOA and ask for a supervisor or account specialist and try to get things figured out. I would advise you to try to get this taken care of with them as you DO NOT want a collection popping up in addition to all of this.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.