I had an account, which I closed around a year back. There is outstanding balance though, which I'm paying off gradually. Can the creditor charge interest and penalties, even though I have closed the account?

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It doesn’t matter whether or not the account is closed, since interests are being charged on the outstanding balance. You’ll have to pay for the penalties, charges and interests, till the balance is totally paid off. What do you want to sue for? Are they charging more than they’re supposed to?

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Last Updated on: Fri, 8 Jun 2018

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