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  #1 (permalink)
: I recently checked my credit report and noticed that I had an account with care credit. The charge off amount listed was $1168 in 2008. Now underneath that is listed a credit agency LVNV Funding llc that I guess bought that debt and it says opened in 2011 and said high balance of $1,758 from 11/2011 to 04/2013 but yet says total amount owed is $1950. I dont understand how that even makes sense for one. Can they buy an $1168 debt and automatically start my debt at $1758 and then charge that much interest on top of that? I live in Kansas and I cant seem to get a straight answer that makes sense on whether they can charge interest and how much? Any help or input would be much appreciated.

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  #2 (permalink)
: They have the right to charge you interest even though it was charged off. You agreed to those terms when you signed the papers
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  #3 (permalink)
: A charged off debt does not mean that the original terms of the contract do not apply to it when it goes into collection. The debt has been accruing interest over the last 4-5 years. The SoL in Kansas for open ended accounts (credit cards) is 3 years so in other words, the debt stands time barred and LVNV cannot sue you to collect on the debt. Just stay still, do not admit to the debt and do not promise to pay then anything if they call or write to you. If you receive summons, appear in court and defend yourself by stating that the debt is time barred.
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