Is anyone being Sued by Advanta? (A on BBB)

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blm

Sub: Is anyone being Sued by Advanta?

Tue, 09/14/2010 - 12:59

My account has been turned over to Phillips and Cohen by Advanta a week ago and they are stating that unless I settle today(50%) Advanta will being legal process...A few questions here:

1. should I send a debt validation letter to them today? and will this "slow" things down?
2. Has anyone settled with Phillips for an amount lower than 50%
3. Is anyone currently being sued by Advanta?

Please...any advise is appreciated.

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mojo

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Sub: #1 1. send dv 2. yes 3. ha ha, not that I've heard of, check your lThu, 03/11/2010 - 13:13

1. send dv 2. yes 3. ha ha, not that I've heard of, check your l

1. send dv
2. yes
3. ha ha, not that I've heard of, check your local court's docket, they probably haven't sued anyone for years, they don't have the resources to do that ($$$)

Arbitrate!

Sub: #2 Yes, send a DV letter, and say that you elect arbitration pursuaThu, 03/11/2010 - 13:34

Yes, send a DV letter, and say that you elect arbitration pursua

Yes, send a DV letter, and say that you elect arbitration pursuant to the cardholder agreement. Advanta has an arbitration clause in their agreement. It should greatly slow them down.

Unregistered

Sub: #3 Quote:Originally Posted by AnonymousYes, send a DV letter, and sThu, 03/11/2010 - 16:05

Quote:Originally Posted by AnonymousYes, send a DV letter, and s

Quote:

Originally Posted by Anonymous

Yes, send a DV letter, and say that you elect arbitration pursuant to the cardholder agreement. Advanta has an arbitration clause in their agreement. It should greatly slow them down.

Thanks a million! will do so tomorrow and post results soon. Have you settled with Advanta?

No settlement,

Sub: #4 No settlement with Advanta, they sold my account to a JDB shortlFri, 03/12/2010 - 12:19

No settlement with Advanta, they sold my account to a JDB shortl

No settlement with Advanta, they sold my account to a JDB shortly after charge-off. What's interesting is they were the most threatening and aggressive of all my creditors early on, then just sold it off.

Unregistered

Sub: #5 just got offered 40%Fri, 03/12/2010 - 17:06

just got offered 40%

Sort of just got offered 40%, had to offer them 28% to get the lowest number they would consider. Have not responded yet. This is still dealing with Advanta. Not sure whether I should jump at this or not $23K and some change. 9600 seems fair but what could I settle with a JDB for after charge off? Also, excuse my ignorance, but what is a DV?

Thanks,

Jason

luckin10

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Sub: #6 I am pretty sure DV means debt validation...can you pls explain Fri, 03/12/2010 - 17:58

I am pretty sure DV means debt validation...can you pls explain

I am pretty sure DV means debt validation...can you pls explain your "sort of" offer of 40%? Did they verbally offer this or send a letter? I would love details as I am hoping to get some kind of settlement with these idiots. Thanks.

unregisterd

Sub: #7 By sort of, they were offering, 60%. I e-mailed them a 28% offeTue, 03/16/2010 - 18:40

By sort of, they were offering, 60%. I e-mailed them a 28% offe

By sort of, they were offering, 60%. I e-mailed them a 28% offer, and he said the lowest they could even submit to the financial deparment was 40%. I am still deciding whether to take it or not. Advanta is kind of a wild card for me right now, so I think I am going to roll the dice and see if I can settle for less after they send it to legal. Guy told me they wouldn't sue me in Michigan only in Utah. I said great, send me a plane ticket and I would be glad to show up in court and he changed the subject. From what I am reading, they aren't going to sue. Will keep you posted.

guest123

Sub: #8 I had the same question.. Is Advanta actually suing anyone? BasiWed, 03/24/2010 - 16:55

I had the same question.. Is Advanta actually suing anyone? Basi

I had the same question.. Is Advanta actually suing anyone? Basically they keep reselling my account with every cease and desist letter I send. They've sold my account to 4 collection agencies in 30 days.

Advanta, then sends fraudulent letters to my office, like claiming they are going to 1099 the debt that they are demanding that I pay, in addition to sending a DRAFT lawsuit, saying how I will be sued in Utah, blah blah.

Its all lies... I do not give a crap.

guest123

Sub: #9 I mean, every 30 days they sell my account to someone else.Wed, 03/24/2010 - 16:55

I mean, every 30 days they sell my account to someone else.

luckin10

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Sub: #10 Ok so I am in Utah. Now with the new news that FDIC has taken ovWed, 03/24/2010 - 21:33

Ok so I am in Utah. Now with the new news that FDIC has taken ov

Ok so I am in Utah. Now with the new news that FDIC has taken over Advanta I really do not think they will sue anyone in Utah or out.. .opinions on this? Also article below is a very good one.

http://www.businessweek.com/smallbiz/running_small_business/archives/2010/03/advanta_bank_cl.html