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If your goal is to raise credit score, this site is all you will need to get on the road to financial recovery. Either with credit repair software or if you want to DIY credit repair, we have all the answers. You will learn how to improve your credit score from trusted experts.How To Fix Credit-Credit Card Late Fees
How To Fix Credit-Credit Card Late Fees
How To Fix Credit: The practice of charging late fees on late fees are illegal under Federal Trade Commission Credit Practices Act (FTCPA). Under the law, such practices are described as "pyramiding late fees. Even if the creditor subtracted the charge from the payoff amount, thereby causing the payment to be insufficient in the amount of the late charge is prohibited by law.
This, among other reasons is why consumers are having to learn how to fix credit and raise credit score. It's difficult to pay down balances when late fees come into the picture.
If sued, the Creditor may have civil penalties imposed by the court up to $ 10,000 per violation. A similar federal law (FDIC, Sec. 6500) entitled "Consumer Protection" regards such practices as "unfair late charges". Your state may also have a law for such activity. Write the creditor informing them of their violation of the law and request a refund. They are not likely to grant a refund initially, so you must be persistent. The net effect of these types of charges may show up in the credit report as late payments because the monthly payment is insufficient and need to be disputed.
