creditcard account transfers

Date: Thu, 01/17/2013 - 01:29

Submitted by kwazi
on Thu, 01/17/2013 - 01:29

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Total Replies: 2

i had a bank A credit card with a 4500 limit which i had accrued about 3000 on and was making payments. i had also bank B credit card with 1200 credit limit which had about 160$ accrued on also in good standing. bank B decided to buy bank A and somehow managed to transfer the account that i had with bank A over to the account that i have with them which immediately put me over the limit with my credit and started a chain reaction which sent the account to over 5000$ within a very short time and mostly because i stopped paying because i thought it was unfair for them to do that. now i received a summons to go to court which i replied with a DV request and now i need to reply to the attorney's request and prepare my case. does anybody know the banking regulations concerning this? because i dont think its legal for them to be able to do that without even send a notice or anything to see if i accepted the terms before them transferring the account. i have about 2 days to reply. please help

P.S: You do not stop paying

P.S: You do not stop paying your bills because you think it is unfair to you somehow. You rather lawyer up and file.

lrhall41

Submitted by Steve Barris on Thu, 01/17/2013 - 02:02

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That cannot be what happened.

That cannot be what happened. That 'somehow managed to transfer the account' is the bit of ambiguity which does not help at all. You must have received notifications or something in writing that your account was changing hands or your credit limit was being dropped or something to a similar tune. It could not have just happened out of the blue. As for the lawsuit part, you do not answer summons with a DV request.

Summons are analogous to a situation wherein a ton of bricks is coming crashing down on you, not the same as the situation in which someone tells you that it is going to come crashing down on you. That is usually when you send out a DV request. You will just have to go to court on the given date, ask for validation during discovery and dispute the validity of the total debt.

lrhall41

Submitted by Steve Barris on Thu, 01/17/2013 - 02:01

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