Back Charge
Back, back, back it up. That's what back charges are all about: charging you now for something that should have been billed in the past.
A back charge might happen if a borrower didn't pay their bill in full, or if there's an error that was corrected on what someone owes someone else.
Related or Semi-related Video
Finance: What is the Fair Debt Collectio...1 Views
Finance allah shmoop what is the fare debt collection practices
act fair debt collection That doesn't sound like a euphemism
for the guys with the baseball bats who knocked gently
on your door and talk with you quietly about your
poker losses there Well that whole goodfellas thing became such
a problem that the feds had to get involved in
established rules as to how far those guys with the
baseball bats could go and they came up with the
following a they can't use them the baseball bats to
hit your knee caps anyway if you don't pay your
bills be they have to listen to your pushback on
like a safe space is literally safe Space is not
like the kind of uc berkeley so they can't call
you at work and castle you thereabout bills if you
tell them not to and see they can't call you
at home in the middle of the night or bang
on your door at two a m and wake the
kids and terrify you about your bills that you owe
you owe well basically this act which became law in
nineteen seventy seven established the notion that even if you
really are a total deadbeat somebody who was stupid enough
to loan you money like you don't pay your bills
you promised to pay them and you just don't you
don't pam back You don't care about your honor self
respect you're a deadbeat but the feds took the perspective
that wealth Somebody was stupid enoughto loan you that money
in the first place and they can on li yu's
quote fair means unquote to collect the money you promised
to pay them back So what's fair Well this is
fair and this is not fair They're not they're they're
not fair All right you get the picture paid your 00:01:41.055 --> [endTime] bills
Up Next
What is Chargeback? In the age of digital eCommerce and plastic over cash, the Chargeback is the electronic version of the refund. Chargebacks cred...
How do credit card companies work? Credit card companies are, in a way, lenders. They give consumers a rectangular piece of plastic that allows the...
What are Collection Agencies? Collection agencies are debt collection companies that specialize in recovery of overdue or defaulted debt obligation...
What is the Credit Rating Agency Reform Act Of 2006? As signed by President George W. Bush in 2006, the Credit Rating Agency Reform Act required th...