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Is anyone being Sued by Advanta?

Date: Thu, 03/11/2010 - 09:34

Submitted by anonymous
on Thu, 03/11/2010 - 09:34

Posts: 202330 Credits: [Donate]

Total Replies: 19


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.


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?


lrhall41

Submitted by on Thu, 03/11/2010 - 16:05

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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


lrhall41

Submitted by on Fri, 03/12/2010 - 17:06

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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.


lrhall41

Submitted by on Tue, 03/16/2010 - 18:40

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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.


lrhall41

Submitted by on Wed, 03/24/2010 - 16:55

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Got a call fro Phillips and Cohen saying they were taking over my advanta account. Just a courtesy call. I am current on a hardship plan, but will not be able to continue. will see what happens. I don't think Advanta will be in the mix for long (if they still are) probably calls from someone else under false pretense. FDIC took over and will collect debts that they can collect and the balance will probably be sold to JDB's. FDIC gets out of the issue asap.


lrhall41

Submitted by on Tue, 04/06/2010 - 22:59

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I am wondering if anyone else at there is being threatened to be sued by Phillips and Cohen over credit card debt with Advanta. I have been working with P & C to settle my debt at 25%, I had debt of $21k...now with all their interest the balance is up to $26k in last 6 months. One week they will settle for a certain amount...then the next week its a higher amount. My account has been charged off and they now tell me my account is being referred to an attorney in Ca and they will file suit. Has anyone been sued by Advanta? If anyone has had any advise on how to deal with P&C I would really appreciate it!


lrhall41

Submitted by on Wed, 06/16/2010 - 00:00

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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.



Do you have a copy of the advanta agreement with arbitration? Do you mind sharing it.


lrhall41

Submitted by on Mon, 09/13/2010 - 23:37

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