One thing have learned over the years as a credit card user is that you should always question any fees or charges the credit card places on your account – particularly when you are unhappy with the fee or don’t understand why it was charged against you in the first place. By speaking up about unfair charges, you can save yourself quite a bit of money.
After all, the competition amongst credit card companies is fierce. If this card isn’t willing to work with you, you can find a credit card company that will – and your credit card company knows it. As a result, most companies are willing to give a little in order to keep you happy and to keep you as a customer.
The same holds true of certain fees. If, for example, you have a long history of paying your bill on time and you accidentally fail to pay it on time one month, you will be assessed a late payment fee. Often, if you call the credit card company and explain the situation, the company will be willing to waive that fee so long as you get the payment in right away.
Similarly, if you go over your limit, you might be able to get out of an over-the-limit fee. Call the credit card company and explain the situation. You might also request a credit increase in lieu of a fee. Many companies will be more than happy to increase your credit line, which means you will be more likely to spend more on the card.
So, it never hurts to give the credit card companies a call. In many cases, you can get some of the credit card fees waived completely or, at the very least, reduced. Take the time and make the call – you will be glad you did!
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It's tough to say whether or not it's legal, but by and large, creditors can get away with alot more than they should be allowed to. There was a recent announcement about new legislation that will limit credit card issuers ability to whack consumers with such outrageous fees. Stay tuned for that.
You might want to start by calling the credit card issuer directly about this. You might be able to negotiate a more reasonable payment option and settle with the card issuer directly instead of the collection agency. Often times, when a debt reaches a collection agency, there's very little that you can do to salvage the situation.
But I would start with contacting the card issuer directly about the money owed.