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
0
I have an Advanta business card. I owe around 3,000 on. I started out with rate of 9.9 It went up to 27 % and I was never late on payment or over the limit, now my rate is all the way up to 37% and again I have never been late or over the limit. Advanta is nothing more rip off bank and I will tell everyone I know about them as well as closing my account!!!!!! NEVER EVER DO BUSINESS WITH ADVANTA!!!!!! NEVER NEVER NEVER!!!!!!! Reason for Editing (Minimum 15 Characters)
Answered on 1:32 pm Nov 16th 2008
Anonymous
0
How's your credit? There are still some deals to be had on balance-transfer cards, even with this crappy economy. [url=http://unclewulf.wordpress.com/">Wulfisms: my blogno's of dealing with collectors: No validation? No payment. No way! No kidding!!
Reason for Editing (Minimum 15 Characters)
Answered on 3:44 pm Nov 16th 2008
0
How long can you push this with Advanta before it will show up on your personal credit score. I have about $7,500 outstanding with them. I think I am about 70 days late at this point. I don't mind repaying the total, I just have to work out some lower interest rate than the 30+% I currently have and a long term repayment plan. Reason for Editing (Minimum 15 Characters)
Answered on 2:36 pm Nov 20th 2008
Anonymous
0
I actually got a letter from Experian in May, about five months after I stopped paying on my Advanta account, that it had been reported. I settled with Advanta in September, and my credit report was noted at that time, "Paid as agreed, but at a lesser amount than owed." As a side-note, TeamTrav, when my business had closed and I knew I was going to have problems, Advanta, for all its other faults, was the ONLY creditor I had that offered to lower my interest rate (I think from 28% to 21% - still a lot, but makes a difference on a monthly payment), and even credit my account an extra $400 for the next month. I owed over $20,000, and my monthly payment was a lot more than $400, but at the time it was really appreciated. You might try calling customer service and talking to them about it. I don't know if business and consumer accounts are handled differently, but you could at least ask them. Reason for Editing (Minimum 15 Characters)
Answered on 2:49 pm Nov 20th 2008
0
Teamtrav, I made my last payment in July and it is showing on my personal credit report now. I also have no problem paying back the balance of my account but I have the same problem as you, they jacked up my interest rate when I was only 2 days late and now my minimum payment is just not doable for me. I have been given a few settlement offers through advantahelps.com but they all require pretty large payments over a few months. I'm a nail technician and business is half what it has been. If I can't make a $254 payment how can I make a $1000 payment? Reason for Editing (Minimum 15 Characters)
Answered on 5:30 am Nov 21st 2008
Anonymous
0
What kind of settlement does Advanta offer you? I owe about $20,000. And I am 2 months behind in the payments now. There is no way I can afford to make the current payment. What offer do they make and then can you make monthly payments on that offer? Reason for Editing (Minimum 15 Characters)
Answered on 10:25 am Nov 23rd 2008
Anonymous
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At only 2 months past due, you're probably not going to have any settlement offered. They might consider 80% at that point, however, if they pull your personal credit and it looks clean - they will not accept a settlement. Reason for Editing (Minimum 15 Characters)
Answered on 3:42 pm Nov 23rd 2008
Anonymous
0
So then you are saying that I should wait until at least 4 months and see what they offer? I am struggling financially with the economy the way it is right now. I would be willing to make some type of payment to Advanta but it would have to be a very small amount. Business sucks right now for me. Reason for Editing (Minimum 15 Characters)
Answered on 6:58 pm Nov 23rd 2008
Anonymous
0
I am over 120 days right now, I had an offer to take my interest down to 9.9% but my payment is still 722 a month, they told me my credit score had not dropped enough for them to make a better settlement than the one they had offered, which would be about 17k out of the 34k I owe, I want to settle, but can anybody tell me once I get to the 180 day mark or so, what they may offer me? when you say 10% are you saying they could settle with me for 3400.00? Please make me understand how this works. Reason for Editing (Minimum 15 Characters)
Answered on 8:39 am Nov 24th 2008
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Hey Former Advanta Collector and everybody, thanks for all the information. I logged onto Advanta Helps today and they are no longer offering to lower my interest rates if I make a large payment. They say that I don't qualify for anything at this time. Is that bad news? My personal credit score is pretty good, so that might be a problem. When is it that Advanta will start reporting to my personal credit if this is a business card that I am Guarntor off? Online it says I am 2 months past due. I really don't know how far to push it with these guys. It makes me nervous, but quite honestly, there is no way to pay them what they are asking. Would it be smart to pay them something or just keep waiting? Reason for Editing (Minimum 15 Characters)
Answered on 9:42 am Nov 24th 2008
Anonymous
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