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Late last year my husband got a credit card from a men's big/tall store because that gave him a 20 percent discount on his first purchase. When the bill for approximately $160 came, he paid it several weeks late and therefore acrued a late fee, which he also neglected to pay on time. (Are you seeing a pattern here?) Anyway, I finally stepped in and paid the late fee of $25, plus $5 in interest, but in the meantime, the company has just kept billing my husband an additional $25 every month in late fees even though the initial bill and first late fee have been paid. He now owes about $150 in late fees alone. He called the company to try to come to some agreement but they have refused to cancel the late fees and have now turned it over to a collection agency. I wrote the company a letter saying I would pay an additional $25 late fee but that I felt their compounding of late fees was not fair. Does anyone have any advice on how to handle this? Is the only way out to pay the mounting late fees? Thanks much for any help!!
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