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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Holy crap. I am so mad. A credit card collector called me at work today. This is for a business card. Can they do that?Reason for Editing (Minimum 15 Characters)
Answered on 8:23 am Jan 23rd 2009
Anonymous
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I just found out this is for one of my personal cards tooReason for Editing (Minimum 15 Characters)
Answered on 8:33 am Jan 23rd 2009
Anonymous
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Well, I just got off the phone with Advanta. I am 152 days past due on a balance of $8,493. She offered me a couple of options. First, she offered to forgive $990 of the balance, which would bring it down to $7,503, then I would pay $201.64 every month for 4 years (48 Months) 9.99% interest. The problem with this is that I can’t afford $201.64 a month and also it ends up being about $9,679.72 total payments. This makes me worse off than I am now. The second thing they offered me is a settlement of maybe 50%, but that I would have to make a $378 payment first before she could submit it to her VP for approval. The problem is that 50% is still 4,246.50 that would be due is 6 weeks I believe. Well, that probably isn’t going to happen, so I told her that I couldn’t do either of those. The end result is that by 3pm EST today it is going to an outside collections agency, also known as Phillips & Cohen. Well, I figure it is worth taking the chance. I pulled some more info out of the gal that suggests that it won’t be charged off until 210 days past due and that it may come back in house and possible go to legal by that time. I think I am going to play this out. I’ll just deal with P&C and probably not talk to them that much and wait and see if it goes back to Advanta. I forgot to mention that I offered to settle for about $1,000 and she said there is no way they will take something that low. I guess we will see. It is a bit of a gamble, but really I have no other option. I may pursue the NFCC for [url=http://www.debtconsolidationcare.com/]debt counseling[/url] and see if that works. I told the gal over the phone that I have almost $100,000 debt and that I am getting hit up for money from everyone so that she understands that I am not just trying to screw them. Problem is that I think Advanta is the only one that is currently hitting my credit. However, my credit is down in the 500s now, so that should help.Reason for Editing (Minimum 15 Characters)
Answered on 9:30 am Jan 26th 2009
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Hello TeamTrav,
I am in EXACTLY the same boat you are with Advanta. At least you have the $1000, I have nothing saved for settlement with out low payments spread out. My lovely P & C guy left me a message saying that if I don't call him by 5 today then they will turn it back to Advanta for possible legal action. I am currently getting my info together to talk to a BK attorney. I have about $35000 in CC debt and am not able to make my payments either. What else can you do?Reason for Editing (Minimum 15 Characters)
Answered on 11:41 am Jan 26th 2009
Anonymous
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Well, yesterday I received my first phone call for payment. I explained that I had been talking to people to get my interest rate down. She said, Rachel at Advanta that if it had been an option she would have offered it out. I was given the option of putting it on another credit card, giving a payment and she would give me $100 off each month. I explained that I could not pay now, maybe next week. I said I expected to receive several calls and would be just as polite to them as her. I am now on a suspended call list and am not expecting anymore calls till next week. So, the cycle begins. I found another website about pissed Advanta people and they are contacting the Government about the lone shark approach advanta has taken. Also, some people are as high as 40% now. Still want to hear input.Reason for Editing (Minimum 15 Characters)
Answered on 7:14 am Jan 29th 2009
Anonymous
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Well, yesterday I received my first phone call for payment. I explained that I had been talking to people to get my interest rate down. She said, Rachel at Advanta that if it had been an option she would have offered it out. I was given the option of putting it on another credit card, giving a payment and she would give me $100 off each month. I explained that I could not pay now, maybe next week. I said I expected to receive several calls and would be just as polite to them as her. I am now on a suspended call list and am not expecting anymore calls till next week. So, the cycle begins. I found another website about pissed Advanta people and they are contacting the Government about the lone shark approach advanta has taken. Also, some people are as high as 40% now. Still want to hear input.Reason for Editing (Minimum 15 Characters)
Answered on 7:14 am Jan 29th 2009
Anonymous
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Well, yesterday I received my first phone call for payment. I explained that I had been talking to people to get my interest rate down. She said, Rachel at Advanta that if it had been an option she would have offered it out. I was given the option of putting it on another credit card, giving a payment and she would give me $100 off each month. I explained that I could not pay now, maybe next week. I said I expected to receive several calls and would be just as polite to them as her. I am now on a suspended call list and am not expecting anymore calls till next week. So, the cycle begins. I found another website about pissed Advanta people and they are contacting the Government about the lone shark approach advanta has taken. Also, some people are as high as 40% now. Still want to hear input.Reason for Editing (Minimum 15 Characters)
Answered on 7:15 am Jan 29th 2009
Anonymous
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You Basically just have to quit paying and stuff your money away until they are willing to negotiateReason for Editing (Minimum 15 Characters)
Answered on 8:34 am Jan 29th 2009
Anonymous
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I'm hearing that Advanta is probably going to be filing bankruptcy very soon.Reason for Editing (Minimum 15 Characters)
Answered on 8:59 am Jan 29th 2009
Anonymous
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It's no wonder, with 40% interest rates, who the heck can pay their bills? I do feel a little bad, though. They were there for me when I first started my business and helped me a lot when I was doing well. And I did get a good settlement from them. I wouldn't be surprised if the entire credit card industry went down the crapper at this point.Reason for Editing (Minimum 15 Characters)
Answered on 11:19 am Jan 29th 2009
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