Posted by NICOLE on 9/29/06

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I recently set up a payment plan with a Debt Collector and
after I made my first payment I received a letter
stating "Interest is presently charged at an Annual
Percentate Rate of 2%. You may avoid paying additional
interest by paying the New Balance". I'm confused...What
does that mean? Are they going to charge me 2% every time
I make a payment if I don't pay the balance? If so, can
they do that if you already set up a payment plan with
them. Please Help!!!!

Re: debt collector problem, 10/05/06, by sid154.

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