Advanta..Bankrupt
Date: Thu, 01/21/2010 - 18:26
This company is bankrupt. We are considering doing debt settlement with our home and business unsecured debt. We are looking into all options. The other day I was speaking with a lawyer from out of our state and he just mentioned to me "Why are you still paying Advanta when they are bankrupt? At this point it is highly unlikely they will even contact you." I am new to this forum and I am just in information mode right now. Advanta is one of our lowest debt but highest interest. We have called them several times and they will not lower the interest and have just encouraged us to transfer our $4500.00 balance to another card. They closed our card a year ago. Anyone else RECENTLY had any experience with them? I have been trying to read in the other posts but can't find recent posts about them. If there is one sorry..still new and still looking.
Thanks.
Thanks.
They are under chapter 11 reorganization...just because a compan
They are under chapter 11 reorganization...just because a company file BK doesnt mean you stop paying them. In a lot of cases the assets are sold off to other lenders.
They want you to transfer so they will get paid in full. I would
They want you to transfer so they will get paid in full. I would stop paying them with the rest of the cards as per my other post. Advanta is the worst, my only regret was my balance wasn't higher when I stopped paying them.
