a minimum payment is made each month, but still remains over the credit limit. will it go into collections?|||I don't think so because the credit card company is fleecing you for every penny you earn and they are enjoying this. They are charging you huge...and I mean HUGE over the limit fees. At least $50 and possible hundreds a month and you are getting deeper and deeper over the limit. They will just fine you and add it to your balance. They may cancel your card but I seriously doubt they will take you to collections if you are paying a little bit.
If you go to credit counseling, they can freeze the interest and over draft fees for you so you can pay the card off but then you'll have to cancel the card. All that is bad on your credit rating but you can get out of debt that way.|||It usually doesn't if you are making payments on time. But most credit cards do have additional charges for being over the credit limit.|||Do you realize you are ruining your credit rating completely?
Collections is not even the beggining of your worries.
/|||Not at all...they are happy to keep raking in over the limit fees from you indefinitely as long as you pay on time.
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