Limitation on fees

What is the name of your state?What is the name of your state?What is the name of your state?NJ
After 120 days when an account is not paid off the account gets charged off and goes to collections. Is there any legal limitations as to the length of time after this period when a creditor may continuously added late fees etc to a charged-off account? Thanks for answers and advice.

[Ladynred]

Nope. The interest can keep piling on for years, its all in the original card agreement. Charge-offs for credit cards typically happen at 180 days of insufficient or non-payment. Some will charge off before that.

I am not asking about interest piling on account ladynred but late fees. After 6 mths you're really,really delinquent, why continuously charge late fees 1, 2 years down the line. thanks for advice.

[Ladynred]

Ahh.. gotcha, I kinda glossed over that. Technically the account IS late, but once they charge it off I don't think they can tack on late fees any more. Late for what ??? The account should be closed.

Thank you that's what i thought, I have a major shake down from capital one thru their attorneys charging 6 times the original amount. They wrote me a letter ordering me to report to their office with checkbk (yah i is real stupid) and list of all assets. These people are crazy. Why would any one endure such treatment & threat from these CA and attorneys if they had the monies. I wrote spoke to these attorneys by phone and finally wrote a letter stating that i would rather go to court on this.
Would charging 6 times the original amount fall under the Federal Fair Billing Act? or some other Federal or state statues. I'm researching this and need to narrow my research some more. The usury law only cover interest rate.

[Ladynred]

They wrote me a letter ordering me to report to their office with checkbk (yah i is real stupid) and list of all assets.

Have they sued you yet ?? If not, that kind of demand certainly IS ludicrous.

Do you have any kind of itemization of what makes up this horrendous amount they're after ??

They have sued me and won a judgement because of the simple fact that I didn't appear in court. Now I'm about to file papers to have this judgement throwed out.
The amount is outrageous because apparently for a year and a half they have been charging nothing but over the limit fees and late fees on the original outstanding balance. So at present what was a $300 balance is now over $1000. I want to narrow my research to say to the judge when I file my complaint that the present amount only serve as penalty.
Exactly what federal statues or laws in NJ I can narrow my research? I have until the end of this month to file.
thanks for the advice.

[Ladynred]

Whoa.. if they have a judgment already that changes things. They CAN demand that you give them a list of assets and if you don't give it to them voluntarily, they'll drag you into court for a regular debtor's exam and if you blow it off you can be charged with contempt. A warrant for your arrest might even be issued - not good.

There's simply no way they can continue to charge over-limit fees and late charges on a debt that's already been reduced to judgment. They have already added court costs and attorney's fees and the judgment itself carries an annual percentage rate that keeps adding up as long as it goes unpaid.

there is no way to try and have the judgement vacated? i have assess to a law library and want to know what federal or state statutes to use if any. after 6 months should they be charging the account over the limit and late fees? there must be something.
sorry about the grammar

never mind ladynred i believe i found something thanks for your help.