I talked today with a lady regarding my 57 day late Advanta bank corp account. First of all she mentioned to me debt management, I then mentioned to her that dmp would not help my monthly payments be lowered and I mentioned debt settlement. She then told me that they do not deal with DS companies as they require them to "sell" my account and they don't do that. I had never heard that before. And she also said that as of the 30th my account would leave her department and so somewhere else, collections I assumed. I explained my situation to her and she wasn't rude but she still was wanting me to make a whole payment when I had just explained that I could not. We then got cut off when I went down into a bad cell phone place. If they don't deal with DS companies, will they deal with DS lawyers?Reason for Editing (Minimum 15 Characters)
Asked on 11:23 am Sep 23rd 2008
Anonymous
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I had an Advanta bank corp account also. It was a business account, a whopper of an amount since my business had closed, and they were very aggressive in trying to collect on it, even going so far as to call my elderly parents again and again, with whom I haven't lived in over 25 years. The last time I paid on it was in December of 2007. I have been in a debt settlement program since February, and it is true that they never would sell the account to a debt collector, and they would not talk to my settlement company. Instead, they offered me personally a settlement and told me if I didn't take it they would sue. Well, I took it, and good thing, because I did receive a summons just a day later. They had apparently mailed it out to coincide with the time frame in which the offer was made. (Of course, since I took their offer, the summons was invalidated by them.) They don't mess around. This all just happened in the first two weeks in September, so it took nine months to get to the point where they made the offer to me. So I can tell you from experience, they will hold the account themselves, not deal with a settlement company, and then offer you the option of settling with their offer or being sued. In my case, it was a super offer, and the people I talked to there were swell about it, but it had to be done on my own. The settlement company is then adjusting my monthly payment to reflect the absense of that account (and its fees) from the program, so my monthly payment will be less.Reason for Editing (Minimum 15 Characters)
Answered on 12:18 pm Sep 23rd 2008
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The settlement Advanta bank corp offered you, was it a lump sum or are you able to make payments? Do you mind giving me an example of the percentage? My balance is roughly $6700, give or take late fees? And did they take away your fees? She told me today if I could make a payment by next Tuesday she could wave the fees that had accrued but I am not able to do it. Did they turn you over to a collection agency? Or collections department?Reason for Editing (Minimum 15 Characters)
Answered on 12:35 pm Sep 23rd 2008
Anonymous
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My mom is a professional collector with Advanta in Horsham, Pa.
They are given incentives daily to collect on all accounts. She has negotiated settlements for $.20 cents on the dollar...especially on accounts that the customer states their business has closed and they have no money.
She handles all accounts over 150 days....they do settlements all day long. After 180 days....they outsource collections to a 3rd party but are always engaged. Good luck all!Reason for Editing (Minimum 15 Characters)
Answered on 4:43 pm Sep 23rd 2008
Anonymous
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Advanta was one of our most aggressive creditors, calling EVERY single day without fail, and my balance was under $2000. I do remember reading somewhere on this site about an Advanta Help site or something like that where the person just went online and took the settlement offer that was listed.Reason for Editing (Minimum 15 Characters)
Answered on 5:03 pm Sep 23rd 2008
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Advanta outsources a phone dialer from India to call repeatedly throughout the day. Many people in Pa have lost their jobs because of this outsourcing. It doesn't matter how much you owe Advanta....they will repeatedly call 9-12 times a day.Reason for Editing (Minimum 15 Characters)
Answered on 5:21 pm Sep 23rd 2008
Anonymous
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It's advantahelps.com but I have been there and repeatedly told I do not qualify for any of their programs. I guess 57 days late isn't late enough. And they do call many times a day.Reason for Editing (Minimum 15 Characters)
Answered on 5:49 pm Sep 23rd 2008
Anonymous
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I don't remember how late the person was that got a settlement from that site, but it seems to me that it was nearing charge off, so it was probably close to 180 days. And even if you answer the phone and talk to them every day, they will still call back the next day. Since I knew that we were going to file BK and it didn't matter if they decided to sue us, I finally just started picking up the phone every day when they called, and as soon as they identified themselves, I would hang up. Then they wouldn't call again until the next day, so it gave me a few hours of peace!Reason for Editing (Minimum 15 Characters)
Answered on 7:36 pm Sep 23rd 2008
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Guest, I owed 22,600 at the time of the settlement. It was only 19,000 when I stopped paying the bill, so no, they did not waive any fees. BUT, what they offered me was a 10% settlement (!), payable in two installments, and they would not budge on that as I begged for them to stretch it out to three or four. The first payment had to be made by the end of that particular week, so I had 3 or 4 days to scramble to come up with it. The second payment was due in another two weeks. Luckily, I had someone I could borrow the money from. This was all done directly through Advanta's own collection department. I want to say also, that back last year when I knew I was going to be having problems, out of all the cards I had (and there are a lot!) Advanta was the ONLY one that agreed to lower my interest rate. But I had my business account with them a long time, and they understood that the business closing was due to unforeseen circumstances not of my doing. I think the good settlement offer was the result of my having been a customer for many years, the huge balance I had, the fact my business no longer existed, and that there were a total of 9 cards I defaulted on. But then, if I hadn't been lucky enough to have someone to borrow that money from, I'd have had to go to court.Reason for Editing (Minimum 15 Characters)
Answered on 9:20 pm Sep 23rd 2008
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Just an update. Today when I logged in to my Advanta account I had 2 offers. One to lower my interest to 16.99 , had to make a $770 payment and one to lower it to 21.99 and had to make a $254 payment. Now I am over my credit limit which of course means more fees. There was a 3rd option to explain why you were unable to accept either of these offers. That is the choice I took and tried to explain that the only way I could make payments was to rewind my account to July, reduce minimums and put my interest rate back. I was 2 days late, called and told them I was sorry for being late and made the payment and thats what started this ....I told them that I was really not wanting to file BK, that I knew that was a last resort, and I hoped that we could work something out. What do you all think?Reason for Editing (Minimum 15 Characters)
Answered on 6:01 am Sep 26th 2008
Anonymous
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Well, it's always worth a try! However, my experience with creditors was that they pretty much have a system and an agenda that they stick to, and they don't vary from that no matter what you tell them.
My guess though is that the offers will improve as time goes by . . .Reason for Editing (Minimum 15 Characters)
Answered on 7:14 am Sep 26th 2008
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