Advanta Bank is not willing for debt settlement - what to do?

I talked today with a lady regarding my 57 day late Advanta bank corp account. First of all she mentioned to me debt management, I then mentioned to her that dmp would not help my monthly payments be lowered and I mentioned debt settlement. She then told me that they do not deal with DS companies as they require them to "sell" my account and they don't do that. I had never heard that before. And she also said that as of the 30th my account would leave her department and so somewhere else, collections I assumed. I explained my situation to her and she wasn't rude but she still was wanting me to make a whole payment when I had just explained that I could not. We then got cut off when I went down into a bad cell phone place. If they don't deal with DS companies, will they deal with DS lawyers?

927 Answers

cardworks
refuses to lower any interset rates and they will not take any percent off if your current I thought advanta or cardworks lost all rights when they were taken over who acually owns these accounts does advanta still own thses accounts I thought they were no more does anyone have a contact number for who owns the acounts


I wouldn't make any payments to them. Lump sum or nothing! You will regret it. Additionally go ahead and deduct those partial payments already made and back that off the 20% figure they are tossing around.


exposed assets: any bearer assets that you hold personally (titled in your name) i.e. real estate, stock and bank accounts, vehicles, boats. Retirement accounts and income is exempt from creditor attachment.


The latest threat is to be turned over to "legal". Can anyone tell me if this a toothless threat? Has anyone out there been sued in the last few months or gotten a summons or a call from a reputable lawyer? My understanding was that they don't even have legal representation--other than what is probably handling lawsuits against them.


i got a letter from allen and associated for advanta....should i send a debt validation now or what?? thanks!


And what money does Advanta have to take anyone to court? They keep calling me too, but have not received any letter. I do not hear from India anymore so that is good. I do talk to them about once a week...best offer so far is .50 on the dollar. No deal as far as I am concerned.


Too late for asset protection? Another thought: let them just get the default judgment. So what. Just make sure and keep all assets out of your name and don't keep a bank account with your name on it. You can set up an LLC or corporation. Wage garnishment (if you're one of the unfortunate who are employed by someone else) is an issue that you have zero control over unless your employer is willing to pay to a 3rd party or company.


ACT is Advanced Call Center Technologies. They are a collections call center that advanta uses to harass people.


Talked to Advanta. It is set to charge of May 18th. I offered 10% they said NO. So I just started politely chatting with the girl. She told me that I will get a better off after it "charges off", but this is not the real charge off..whatever that means. She says it could go to an attorney but that I was right that 1. Advanta has no money to sue 2. And they really are not going to sue for a $4,000 balance. She just got hired and is working as an internal collection person a company hired by Advanta. She doesn't know how long they are going to be sticking to their guns on these dumb settlements and "hardship" programs they are offerening b/c no one is taking them. She says the consumers are smart and she can't believe what she has seen come across her desk...interest rates that were jacked up to 40% in some cases. So I will wait this out. I think I will call the day before the supposive charge off and offer the 10% again and then just see what happens. Not paying these crooks a cent more. (This is luckin10 btw, couldn't log on for some reason)


Thank you for getting this thread back on track.

Only a fool would settle a credit card account for 50%.


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