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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Someone with NFT or NST or somesuch (was Phillips & Cohen) just offered me 45%.Reason for Editing (Minimum 15 Characters)
Answered on 11:34 am Aug 7th 2009
Anonymous
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If I stop paying Advanta, will this affect my personal credit report? They are not listed on my personal report, and I closed my small business.Reason for Editing (Minimum 15 Characters)
Answered on 5:32 am Aug 9th 2009
Anonymous
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Yes, it will. I had three business accounts, Advanta, BofA and Chase, and when I closed my business and cancelled my EIN # with the state, the Advanta and BofA were reported to the credit bureaus when I defaulted on them. Chase is still floating about in limbo somewhere, but the other two are now a part of my credit reports.  Reason for Editing (Minimum 15 Characters)
Answered on 6:16 pm Aug 9th 2009
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Just keep an eye on them in the news and on their Wikipedia entry. I would expect some interesting developments soon that will give debtors a better idea where they stand.Reason for Editing (Minimum 15 Characters)
Answered on 4:15 pm Aug 10th 2009
Anonymous
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NCB Managemetn Services out of Langhorn PA is the next stop after Phillips & Cohen, collector-wise.
Bloomberg carried a story yesterday that basically said Advanta announced that the way forward for them was to find “a plan for new business opportunities” after posting a second quarter loss of $330 million.Reason for Editing (Minimum 15 Characters)
Answered on 6:27 am Aug 11th 2009
Anonymous
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The best plan would be to hang Dennis Alter and burn the Advanta building. Now THERE's a good new business opportunity.Reason for Editing (Minimum 15 Characters)
Answered on 4:12 pm Aug 12th 2009
Anonymous
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A rough equivalent is likely in the cards, courtesy of the FDIC and perhaps also the Justice Department.Reason for Editing (Minimum 15 Characters)
Answered on 4:53 am Aug 13th 2009
Anonymous
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I lost my Job over a year ago and tried to work something out with them ..but they would not work with me at all..So I cashed in what little I had in a 401k to try and stay on top of this... I could not do it..... I was late on one payment ..they raise my interest to 40%....... I was with them for over 10 years and never missed a payment........ I tried calling and calling and calling.......no one and I mean no one who could speak English would talk to me.......they treated me like crap.........in fact I had one manager call me stupid............ I made one payment of $25 because that's all I had at the time..... The manager on the phone laughed at me..... I swear he laughed at me........ then I got a call today from a collection agency.......The lady really tried to push me around and treat me like I was stupid......she really got me upset...... I told her to leave me alone and if I will talk to her again when she wants to be realizitic. .. When it all started I owed $10k now it's up to $39k with there Fu&^i*g late fees and 40% interest rate. She tried to settle today for $16k.......Last week it was $18k...I figure if i wait long enough that they will get back to $8k..... or maybe advanta will go out of Business..... but where I am now is that I really don't like them.........for what they did to me and how they treated me........In a way I hope they try and take me to court....If you are trying to settle your debt and they do nothing but treat you like a sub human.... and are out right rude to you ....Take control of the converstation and you ask the questions..... You tell them what you will settle for...Dont let them tell you....
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Answered on 7:27 pm Aug 18th 2009
Anonymous
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Charge-off rate looks better at 24.02%, but June's 56.95% was aberrant due to a change to charging off at 120 days from industry -standard 180 days. 30 day lates went up from 8.28% to 9.98% though ... meaning more and more charge-offs ahead.Reason for Editing (Minimum 15 Characters)
Answered on 11:51 am Aug 20th 2009
Anonymous
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Hello Folks I am a newbie and will keep it short and sweet. Have been a loan officer for 20 years.
Never late on a payment in my life. Middle Score was 808. Two months ago Advanta took my rate from 7% to 30%.
I have given up trying to make them understand I will not pay that rate.
If the only blemish on my credit report is a crooked company, I can live with myself!
I will show-up to whatever court date they set and-yes they sent me one of those mock complaint letters to the courts.
Stay tough everyone-these guys are slime bags!Reason for Editing (Minimum 15 Characters)
Answered on 6:05 am Aug 21st 2009
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