It is very likely BOA assigned you account to collections previously. They may be about to sue you at this point or maybe they will be selling the account to another collection agency.

Label the chart as follows:
column 1 = Principal balance due
Column 2 = interest rate
Column 3 = month's interest (annual interest divided by 12 months)
column 4 = this month's payment
column 5 = date today

First, in first data row for your loan, you would have
5063.71 =.089/12 (=col 1 x col 2) 208 7/28/09

copy down columns 2 thru 4, highlight the date & use the command Edit, Fill, Series, Date, Month so that it will automatically label each row with one payment per month.

In column 1, the formula the second data row would be:
= starting principal + interest – payment

Copy the formula for the new principal loan amount to all of the other ones below it. The loan is paid off when the principal amount is 0.

You'll pay off the loan in August 2011. The total of the interest column will tell you how much in total interest you paid to borrow this money.

You shouldn't pay only the minimum on your credit card. They are asking you for a minimum payment of this month's interest ($3) plus 2.4% of the principal. Why in the world do you want to give them that much money in interest over the life of the loan? If you only pay $103 a month on that debt, you'll still be paying until nearly 2013!

For now I guess, the best bet is to trying to set up some sort of arrangement for with them. Because, they'll start adding late fees, and other types of fees.

If that doesn't work, you'd probably would have to consider one of those credit counselor services.

The Federal Fair Debt Collection Practices Act doesn't apply, as it only governs third-party debt collectors, not original creditors.

I would suggest talking to your credit card company's loss mitigation department and seeing if you can work something out. They are usually willing to work something out.

You do of course know you are in for a huge over the limit fee as well which continues to keep you over the limit until you pay.

YOU are in the wrong the original creditor has different guidlines over a collection agency.

YOU ARE WRONG get off your high horse.

here is the steps for the excel

you will have 4 columns, A,B,C and D. You will also have 174 rows.

Cell A1, type 3000
Cell B1, type =IF(A1*0.03<15,A1-15,A1*0.03)
Cell C1, type =A1-B1
Cell D1, type =C1*(1+0.195/12)
Cell A2, type =D1

Drag all four columns down to row 174 by clicking and dragging the little box in the bottom right corner of all row 1 cells. There's your spreadsheet.

sum_{k} (1+i(k))^l d(k)

Now suppose you make a payment of p(k,m) to the kth card in the mth payment cycle. As a result of this payment you will decrease the debt you owe after l cycles from above (assume m<l) by:

(1+i(k))^{l-m} p(k,m)

To decrease your debt the most you thus need to pay the card with the highest interest rate i(k). This problem could be made more complicated, as someone already suggested, if you had introductory rates and such (ie. the interest rate depended not just on the card k, but also on the payment period m, i(k,m)).