Advanta - Whats going on??
Date: Wed, 12/16/2009 - 04:25
from what I have read in this board Advanta can be very aggressi
from what I have read in this board Advanta can be very aggressive with their collection efforts and generally they don't budge very much while negotiating settlement. You may delay the settlement process little more to see if they would have a better offer.
Anyway, just hang tight, you would soon hear from the other members.
I can tell you first hand they do negootiate. They claim I owe
I can tell you first hand they do negootiate. They claim I owe $18k and offered me a $5500 figure last week. Haven't paid since May. No I'm not proud about this but they will not get one penny from me for jacking my rate from 4% to 35%. I was never one day late and these F-ers made it impossible for me to pay anything.
Screw them.
Quote:Originally Posted by AnonymousI can tell you first hand th
Quote:
Originally Posted by Anonymous I can tell you first hand they do negootiate. They claim I owe $18k and offered me a $5500 figure last week. Haven't paid since May. No I'm not proud about this but they will not get one penny from me for jacking my rate from 4% to 35%. I was never one day late and these F-ers made it impossible for me to pay anything. Screw them. |
I agree, Advanta is HORRIBLE. I was never late too, and when they shut down last year they raised my interest rate to 32.99%. I've been paying the minimum for the last 8 months with the balance only going up sincethe rateis so HIGH. Go figure. Last month they raised my minimum another $72 to $350/month on $6900 balance. So I can longer afford to pay it.
Me too. I was never late and they jacked my rate up to 34.99%.
Me too. I was never late and they jacked my rate up to 34.99%. I stopped paying in May. Right now, the last notice I got from them was my account was going to be charged off in 20 days. That was about a month or so ago and I've heard nothing from them since other than to get my regular bill in the mail. I'm just hanging tight waiting to see what happens next with them.
how long since you last paid did you get the offer?
how long since you last paid did you get the offer?
From what I heard on the news they are in bankruptcy.
From what I heard on the news they are in bankruptcy.
ADVANTA is HORRIBLE...just like the others our rate spiked to 32
ADVANTA is HORRIBLE...just like the others our rate spiked to 32.99% when they closed. We continued paying the minimum only to see our starting balance greater than the previous month. So very discouraging...when they increased the minimum to $350 from $281. I stopped paying them last month. It was a choice of paying another minimum and getting no where on buying groceries for my family. I'm not going to give them another hard earned penny. I'll watch or your posting. Are you taking there calls or are you calling them for settlement?
I have an 18k balance with them. Stopped paying just last last
I have an 18k balance with them. Stopped paying just last last fall, and the "offers" have gradually gotten better, now down to lower single digits intetest rate. But as already said several times, I'm p****d at these jerks for raising my rate to almost 40% after years of being an a-1 customer. I'm going to wait it out.
what rate?
Quote:
Originally Posted by Anonymous I have an 18k balance with them. Stopped paying just last last fall, and the "offers" have gradually gotten better, now down to lower single digits intetest rate. But as already said several times, I'm p****d at these jerks for raising my rate to almost 40% after years of being an a-1 customer. I'm going to wait it out. |
This is good to know....how many months behind and what is the offered rate from Advanta? I'm in a very similar situation but have not gotton anything better than 60% on a $17k +/- balance at roughly 120 days
I am careful not to get too specific on here . . . I suspect Adv
I am careful not to get too specific on here . . . I suspect Advanta and other banks troll the posts and look for tidbits to help them. When I was 90 days late they offered under 5% interest rate on the balance and no need to make up back payments. I seee that the magic times are around 120 days. Also,
I see some comments about charge offs, and I'm wondering why you'd want to avoid that? As I understand it, once it is charged off and sold to a collection agency, you can avoid the 1099 because the collection agency is actually making money on it and hence not forgiving debt. So again, why not just let it go to charge off and get a settlement with no tax liability?
MODS - Is this true?
:confused:If you account goes to a collection agency and you work out payment with them, you won't get a 1099c?
If so, then WHY settle at all with the credit card companies? Why not let it go to collection? If I settled with my credit card companies this year, I'd have $8,000 to pay taxes on. That doesn't include my $2,800 that I settled with HSBC already.
Please clarify. Thanks.
Same Here...Great customer for years and then 35% on a 30K balan
Same Here...Great customer for years and then 35% on a 30K balance. I pay them every month because cant afford my personal credit report to get banged up. If it was not for my person credit report fears I would stop paying these jokers in a second. Anyone's personal credit report get hit for not paying advanta???????????????
Yes... They didn't even show up when I was current. But reported
Yes... They didn't even show up when I was current. But reported me right along all the way to charge off when I stopped paying.
Stop paying and then they report you. That figures? I am going
Stop paying and then they report you. That figures? I am going to try and offer a 10% settlement. I already closed the business that the card was giving to and am currently out of work, but got to keep my personal credit report clean for job hunting purposes. I am the type of person that if I owe money I honestly make every attempt to pay it back, but these guys are crooks, taking advantage of people that never did anything wrong and slam them with 30+ interest. So, I don't feel bad if I can give them some of there own medicine. I don't even know how anybody can feel good about even working for such a company that is screwing hard working people out of there money.
I hate Advanta. And to the poster that said...I don't want to sa
I hate Advanta. And to the poster that said...I don't want to say too much in case they troll these boards..I HOPE THEY DO... read this Advanta..YOU SUCK!!!! I can't believe how dishonest they are. Not worth repeating my story and everyone else's...they should be in jail and they deserve to be bankrupt... I hope to not pay them one more red cent. I just quit paying them this month and I have never felt better about anything as far as my budget goes in a long time. They raise interest rates AFTER they close the account on honest paying customers that have never been late..screw them. They deserve what they are getting. I don't care what they do to my credit. I am sick of it. As far as credit goes, currently they are not even showing on my credit but I am sure they will show as soon as my payment doesn't get to them..they can burn for all I care!
Quote:Originally Posted by AnonymousSame Here...Great customer f
Quote:
Originally Posted by Anonymous Same Here...Great customer for years and then 35% on a 30K balance. I pay them every month because cant afford my personal credit report to get banged up. If it was not for my person credit report fears I would stop paying these jokers in a second. Anyone's personal credit report get hit for not paying advanta??????????????? |
I'm several months late now and still have not seen a hit to my credit. At this point, I really don't care, once they do report it I'll finally be able to get some SANITY myself and stop paying on all of the 90,000 in credit card debt I've been foolishly trying to keep afloat with no job, no government "bailout" and banks that do nothing but screw us all.
If you want to get really ticked off, take a look at this:
http://www.thinkbigworksmall.com/mypage/archive/1/29027
would not take 60% offer. Try telling them..This is all I got..
would not take 60% offer. Try telling them..This is all I got...take it or leave it??? I am in the same boat as you. Will post with what I come up with and if someone from Advanta is reading this post...I F!@#ing hate you TOOOOOOOOOOOOOOO.
Quote:Originally Posted by Anonymous I am the type of person tha
Quote:
Originally Posted by Anonymous I am the type of person that if I owe money I honestly make every attempt to pay it back, but these guys are crooks, taking advantage of people that never did anything wrong and slam them with 30+ interest. So, I don't feel bad if I can give them some of there own medicine. I don't even know how anybody can feel good about even working for such a company that is screwing hard working people out of there money. |
I suspect that most members here are the same "type" of person. After all, you couldn't get a $50,000 credit limit to begin with had you not shown your colors. Many here are victims of the recession. My home value went from $600k to $250k and along with it I lost all of the equity I was going to use to pay them back. Since the banks are complicit in causing the real estate bubble/collapse, I don't feel too bad, either. Good Luck.
am behind about 4 months, and they just offered me about 65% off
am behind about 4 months, and they just offered me about 65% off the balance to settle. Based on what I've read here, I don't trust them to honor it, I suspect they will just apply it and then say the rep didn't have authority. Anyone have thoughts on this?
If you are going to take it...get it in writing on their letter
If you are going to take it...get it in writing on their letter head..don't pay it until you have it in writing. I keep trying to get a legitimate fax number from them and all they give me is a bogus one..I really can't trust them at all!
if your account gets charged off, what happens then? I keep get
if your account gets charged off, what happens then? I keep getting doom and gloom letters and messages about the pending charge off, and I don't know what to do. I'm sick to my stomach day and night, and just not even sure I care anymore. But I guess I must or I wouldn't let it affect me so much.
Personally, I am ready for an all-out citizen revolution. I've lost my business, my house, most of my retirement savings, and being self-employed, there is damn little social security to rely on. Guess it's fish heads and a homeless encampment for my "golden years."
I called the number for the Advanta Philadelphia office 1.800.70
I called the number for the Advanta Philadelphia office 1.800.705.7255 and kept getting routed to India where the 3 account reps told me they had now closed the US call center. Does anyone know if this is true or if they have a working number to get through to a human being in the United States with some decision making capability?
try 866-677-9392 I believe that gets you to a US center.
try 866-677-9392 I believe that gets you to a US center.
Wish someone would keep the DS Financial spammers off this board
Wish someone would keep the DS Financial spammers off this board... Best thing you can do is deal with Advanta directly (or rather ignore them), don't get flimflamed by some fly-by-night company. I'm nearing 120 days late and still haven't gotten any written threats yet, just continued computerized phone calls that I ignore. They can go ahead and slam my credit, give them a taste of there own medicine! Raising rates to 36% on folks who were never late is criminal. The Advanta mucky mucks should go to jail!