Advanta bank is the devil!

[No Gravy]

Nope Advanta sold my account to a JDB, who I put on ice. They sent me one letter showing they bought the account and now owned it and a second letter from the same address on the same letter head (different company name) that was the collection agency arm of this JDB trying to collect on it.

So, I C&D the collection agency department and told them they were not licensed to collect in my state (they aren't) and told them to piss off.

I then the same day DV'd the new owner of the debt and included an additional letter telling them I welcome them to sue me, I will as part of discovery demand all letters of assignment, the agreement, the amount they paid for the debt and would argue the case on the fact they should only be entitled to collect what they paid for it, since they have not expended anytime or resources to locate or try to collect this from me they should not be entitled to the face value of the debt only the actual amount paid (probably wouldn't work based on some other rulings but that is not the point, wasting their time is). In addition I told them to pull my credit report, do an asset search and find I have nothing and in the end I will file a CH7, but my intent was to cost them as much money in legal fees as I can.

That must be close to a year ago now, never heard a word back from them <shrug>.

You are the wind beneath my wings

[747LUVR]

Back in January of this year, within just one week, my wife and I found out that we're pregnant with our first child...and that an immediate family member was terminally ill with pancreatic cancer. Advanta was the ONLY card I forgot to pay. So they called me, asking for me to make a pymt. I told Mr India I was pulling into my work parking lot, I would login and pay it in 5 minutes, thanked him, and hung up. He calls me back right away, I just reiterated what I told him a minute before and hung up again. 5 mins later, it was paid. I expected to get the $39 lf, and sure enough, that accompanied the 2.9 fixed jack up to 34.99. I said screw 'em. They just get to be first in line of the defaults. They called, I said I will make you a ONE TIME offer, to which I stuck with from day one. Lower the rate back to 2.9 or eat it. So they got to eat it. Idiots.

[DeadManCrawling]

I owe Advanta 80k. They used to call a couple times a week.

About a year ago they quit calling.

The bill is probably over 100k by now, and I have not paid on it since 2007. They have never sued, but I have my own suspicions about the reasons for this. Of course they usually only sue when they think they have a chance of collecting on something. In our case the chance was very very small.

Also they halted all new lending and are simply hoping existing customers will pay their bill, even though they can no longer use the cards.

Good chance of Advanta filing BK in the next couple months.

[treehugger1]

deadman, good to hear form you. Did you file?

[DeadManCrawling]

I haven't filed yet, and nice to see you too TH.

We are living rent-free in our house. Previously the mortgage payment was 4k, so we are saving up as much as we can. Going to fight the FC process and stay as long as we can. Then we will buy a small home outright, no mortgage payment.

THEN we will settle in and see what our finances look like before filing, so we can resume some expenses that currently are on hold-things like dental and so on.

Probably be another year or two before we are ready.

Best wishes!

[treehugger1]

DMC, LMAO! $4k?! It's funny how folks can "see" out several years. I thought it was only BigBoy, Goingdown, and I many months back, but the more educated you become, the more time you have. This forum has done wonders for me dealing with the fear issue over the years. There are many sites out there that relate to collections efforts and counter suits, but this is the only forum I have found that undertands BK is the ultimate defense strategy.

In terms of the original post related to Advanta, one does have to wonder what becomes of defaults, and how much time a debtor has to make a final decision. In particular, due to Albacore's post in another thread, the issue of the "red flag" decrees for consumer privacy/ID Theft could become a very real issue for CA's, JDB's, and Orignal creditors. Best to you!

[No Gravy]

I haven't filed yet, and nice to see you too TH.

We are living rent-free in our house. Previously the mortgage payment was 4k, so we are saving up as much as we can. Going to fight the FC process and stay as long as we can. Then we will buy a small home outright, no mortgage payment.

THEN we will settle in and see what our finances look like before filing, so we can resume some expenses that currently are on hold-things like dental and so on.

Probably be another year or two before we are ready.

Best wishes!

Good to hear both that you're doing well/have a plan of action....and that I'm not the only one who's putting off filing (which I know I'm not, but it's good to SEE someone else's experience with that!).

[No Gravy]

DMC, LMAO! $4k?! It's funny how folks can "see" out several years. I thought it was only BigBoy, Goingdown, and I many months back, but the more educated you become, the more time you have. This forum has done wonders for me dealing with the fear issue over the years. There are many sites out there that relate to collections efforts and counter suits, but this is the only forum I have found that undertands BK is the ultimate defense strategy.

In terms of the original post related to Advanta, one does have to wonder what becomes of defaults, and how much time a debtor has to make a final decision. In particular, due to Albacore's post in another thread, the issue of the "red flag" decrees for consumer privacy/ID Theft could become a very real issue for CA's, JDB's, and Orignal creditors. Best to you!

Amen!

I've been so busy working and moving I haven't posted here in a very long time, but I have a few posts in my head that I plan to post here.

The suggestions and advice I got in this forum has helped me tremendously! I would have done things so very differently if it had not been for this forum. I would have already filed a year ago (wow, I can't believe it's been a year already!).

HHM I believe was the one who advised not filing until life was stabilized, and that advice stuck with me. My life has been through so many twists and turns in the last year it's not even funny. Though it's still not totally "stable", I know I need to get some legal advise this year in relation to the fallout from my FC.

Once I know for sure about all the legal crap I've been sent by my former mortgage holder then with the attorney I can decide when the timing would be best to file. This is the first time in my life I've ever received legal papers I don't understand, and also can't find any solid explanation for online.

Anyway, sorry to get away from the thread's topic, but thank you all for posting.

[No Gravy]

Back in January of this year, within just one week, my wife and I found out that we're pregnant with our first child...and that an immediate family member was terminally ill with pancreatic cancer. Advanta was the ONLY card I forgot to pay. So they called me, asking for me to make a pymt. I told Mr India I was pulling into my work parking lot, I would login and pay it in 5 minutes, thanked him, and hung up. He calls me back right away, I just reiterated what I told him a minute before and hung up again. 5 mins later, it was paid. I expected to get the $39 lf, and sure enough, that accompanied the 2.9 fixed jack up to 34.99. I said screw 'em. They just get to be first in line of the defaults. They called, I said I will make you a ONE TIME offer, to which I stuck with from day one. Lower the rate back to 2.9 or eat it. So they got to eat it. Idiots.

Wow, that's amazing. I think a lot of banks are changing their policies, and in doing so shooting themselves in the foot. I inadvertently missed paying Advanta once a couple years ago (not for as dire a reason as your situation, but there was something going on in my family at the time).

They called, I paid immediately online, and I never even got a late fee assessed. When I stopped paying them (and everyone else) in early spring of 2008, their collection guy called from Philadelphia. I told him what was going on, and he was remarkably understanding! In fact of all my business creditors, Advanta was the easiest to deal with, for me, anyway.

For a long time they sent me "Please pay and we'll lower your rate back to what it was" offers. I'll admit I haven't kept up on what's going on with Advanta lately (as DMC referenced), but if Advanta *is* still in business/continuing, and based just on *my* experiences with them, I'd say you have a good chance of them making you an offer.

[treehugger1]

Nogravy,

I've decided to finally default on my student loans (need to wait another 135 days to reach te 270 day default category) and see if the department of education will finally put me on permanent administrative 15% wage garnishment + whatever my tax refunds might be. I am paying the IRS $3200 at a few hundred dollars per month, so the SL's are not first in line. LOL If they will do this, my student loans will be "in repayment" and the other unsecured debt can wait in line for their cut of the addtional 10% garnishment. What the heck, I have to pay the SL's and a 10% wage garnishment by other unsecured creditors is quite acceptable to me. I might have to attend a debtor exam now and then, but so what? After exemptions, there is nothing creditors/CA's/JDB's can get from me that would be all that painful. Life is what it is! As i have always said, I didn't write the laws. But, I am more than willing to exercise my rights accorded to me by those who did write the laws. I'm an exemplary citizen!