25 dollar debt suddenly $525. What to do?
So I, stupidly, took out a credit card with Commnity Bank. The debt was originally $500, which I THOUGHT i had paid off entirely to the tune of $575 with the added interest. It turns out there was a "25 dollar yearly administration fee" that I missed paying. I then forgot about the fad because I never intended to use it again and thought I had paid it off. They have apparently added $500 in "late fees" on top of the $25 and have apparently sent me to collections. I offered wha I thought was fair of $125 but they refused. I am NOT paying more than I originally took out in late fees as that is fucking ridiculous. I am not paying $1,000 for a $500 debt as 100% interest would be asinine. They refused to take the $125 and now I'm stuck as what to do next. I am SURE there most be laws or rules against predatory late fees like this. Are there any suggestions about what to do next?