Advanta taken over by fdic

There are so many posts on ADVANTA..just search it. Many are very recent concerning this. If I were you I would not pay...I am hoping for an excellent settlement.

The FDIC will sell off the assets which will include the credit card receivables. When? who knows but they won't hold them long term.

I have not seen many post to the effect that they are now taken over by the FDIC. If I wait and see what happens and not pay. Will the FDIC report me late on my credit report??

Read this article. I posted it in another thread..maybe you have seen it but thought it was worth posting again. I really think time will only tell with this. They are trying to put me on a hardship deal and I have until today to decide...not going to do it. I am waiting this out.

[URL="http://www.businessweek.com/smallbiz/running_small_business/archives/2010/03/advanta_bank_cl.html"]http://www.businessweek.com/smallbiz...a_bank_cl.html[/URL]


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Thanks luckin 10. Is there a phone number I can call to reach someone to try and settle the account I have. I can't get through to anyone?

The only US number I have is 267-525-4625. No idea if this number can do settlement. I am only 64 days late and they tried to get me into a hardship earlier this week. I asked for settlement and he said all they can ever do is .75 on the dollar. I don't believe this. Then the very next day news about FDIC came to my attention and so I am waiting this out for sure!!! BTW, they wouldn't say anything about current financial position Advanta is in....

Tried that number and I get a recording to leaving a message. Not going to do that. I am not going to pay for now, hope they don't bing my perfect credit?

I just spoke to an FDIC phone agent and was told that we can email at AdvantaFDIC.Gov. I also have a terrible problem with them, not crediting my payment monthly via my bank online payment. Let us work together and go after this company.