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How do they calculate arrears?


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Can anyone tell me how credit card companies calculate arrears. I have two default notices on which they state the arrears needing to be paid but I can not work out how they calculated the ammount? I have tried the FSA and several government organisations and debt help lines but nobody has any idea!

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Can anyone tell me how credit card companies calculate arrears. I have two default notices on which they state the arrears needing to be paid but I can not work out how they calculated the ammount? I have tried the FSA and several government organisations and debt help lines but nobody has any idea!

 

I thought that they thought of a number and tripled it...

If I've helped feel free to add to my reputation.

 

I am not a Practising Lawyer. My comments are my opinion only. You should not rely upon those comments and should always take your own professional advice from a practising Solicitor or Barrister

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