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Advanta Bank Closed by Utah Regulators

Posted by: John Tozzi on March 22, 2010

Advanta Bank Corp., the small business credit card lender that last year settled “unfair and deceptive practices” charges with regulators over rate hikes imposed on small business customers, was seized by Utah banking regulators Friday.

“We just found them to be in an unsafe and unsound condition,” Michael Jones, chief examiner for the Utah Department of Financial Institutions, told me. “They needed additional capital because they were taking significant writedowns and losses on their [small business] credit card portfolio.” Advanta spokeswoman Amy Holderer declined to comment but said parent company Advanta Corp. would issue a statement in an 8-K filing today or tomorrow.

What does this mean for small business borrowers? When Utah regulators seized Advanta bank, the FDIC was named receiver and could not find a buyer for Advanta’s operations. For borrowers who owed money to Advanta Bank, “right now the FDIC is the owner of those loans,” Jones says.

Some Advanta borrowers have already had their debts sold to third-party debt collectors. Advanta’s seizure shouldn’t affect them. It’s unclear whether it will affect those whose debt is now owned by the FDIC.

Advanta issued exclusively small business credit cards. In 2007 the bank was the fifth-largest issuer of small business bank credit cards (which excludes American Express and Discover), with 1.3 million accounts and $14 billion in annual payment volume, according to The Nilson Report, a credit card industry newsletter. Business owners often use credit cards for convenience to cover every day expenses. Many also use them as a source of longer-term financing in lieu of bank loans or credit lines.

Many Advanta borrowers, hit by rate hikes, have been trying to negotiate lower payments and interest rates, and at least one group was seeking class action status for a lawsuit against the bank. The FDIC received 976 complaints about Advanta raising interest rates in the 18 months leading up to Jan. 2009. (Peruse the comments on this post and others for small business owners’ stories about their dealings with Advanta.)

Advanta stopped making new credit card loans and cut off credit to existing customers in May 2009. By that time, the bank had become notorious for repricing interest rates, sometimes to over 30%, on cards opened with 0% APRs or other low teaser rates. In July, Advanta settled with the FDIC over rate hikes and agreed to pay $35 million in restitution, without admitting nor denying wrongdoing. Advanta Bank’s parent company, Spring House (Pa.)-based Advanta Corp., filed bankruptcy under Chapter 11 in November.

In filings with regulators, Advanta reported $205 million in loan charge-offs in 2009. In December, the bank reported $1.62 billion in assets and $1.52 billion in liabilities.

Advanta’s seizure is unlikely to have much effect on the availability of credit for small businesses. Advanta cut off all new lending, including to existing customers, last year. The most significant consequence may be whether those borrowers trying to renegotiate their payments and write down their debts will have an easier time doing so now that the FDIC is their creditor.

I have a call in to the FDIC. We’ll update as we get more information. For Advanta coverage from our archives, click here.

Update, March 23, 2010: FDIC spokesman David Barr would not comment on any potential consequences of the seizure for Advanta borrowers. Advanta Corp., the bank’s former parent company, filed an 8-K that I’ve uploaded here.

Reader Comments


March 23, 2010 1:44 PM

We were one of those small business that got caught in the rate hike 22%. we just got done paying the bill off ,is there any way to recoup some of our losses ,from the law suit. they forced us into credit counseling and ruined our credit score .


March 23, 2010 2:04 PM

Now I am in dilema. #1. Should I cash my whopping $134 restitution check (I was attempting to reserve my right to sue. #2. Should I pay Advanta or FDIC as I re-negotiated with Advanta after they refunded (some) fees and reduced interest. I have a payment coming due. I will be watching closely. Thanks for the update.


March 23, 2010 4:14 PM

We too are 'one of those' small businesses caught in the rate hike - ours is about 37%!!! One late payment two years ago. Insane. Paying it off has been a horrible burden but I am afraid to stop as I don't want to ruin my credit rating. Wish the people making the big bucks would feel some pain for this but I'm betting they walk away and the consumer keeps paying. I have tried calling a half dozen times to request a drop in the rate... nothing. Who got a 'restitution check'?


March 23, 2010 6:48 PM

Ask them about their hardship program. I got a payout over 5 years at 9.9%. If you can pay quicker it is less. I had a consultant. Best advice, don't pay them for a while and they will come around. I asked for the hardship program and they said they did not have one. Then when I owed them enough money, they said they had a hardship program. What is the frigging difference?


March 23, 2010 6:59 PM

My second try to help you. Ask for the hardship program because they say they do not have a hardship department. You can negogiate a loan from 0% to 9.9% depending on the years of payoff.
These jerks on this website are as bad as the banks, I said one word and they deleted my message.

Ed Tomko

March 23, 2010 7:28 PM

I was qualified for a hardship after 3 months of sending in paperwork and being given the runaround. I contacted an attorney several months ago and we WILL be joining in the class action suit. I suggest everyone jump on board w/ this suit.


March 23, 2010 7:33 PM

It was the hardship department that I always asked for. Then when I owed them enough money, they said they had a hardship program. That is when I said what was the difference.
I do not know whether this site will allow me to post my e-mail but I will glady tell anybody about my Advanta problems and maybe you will not make the same mistake as I did.


March 23, 2010 10:11 PM

I was set-up on the hardship program with Advanta. I mailed in my letter with my first payment like the letter requested. I then received my next statement saying that I was seriously delinquent on my account. I called their office and they told me everything was fine, just send in my next payment. Then I started receiving rude, harrassing calls from their collections department. I called to straighten it out and a young lady yelled at me, treated me like I was stupid, told me the reason this happened was because I mailed in my payment with the letter (which the letter instructed me to do) and then she proceeded to hang up on me. I called back, got a supervisor, whom was sort of apologetic but also treated me like I was stupid because I didn't fax the letter and told me if I didn't get the letter faxed back within 2 days then there was nothing he could do for me. I'm not sure if I make my payments to them if their hardship program is really what they say it is??? Not real happy with my treatment with this company. Does anyone know their president or is he out of a job??


March 24, 2010 10:05 AM

It'll be interesting to see what will happen with the hardship program now that this has happened. For those interested instead of calling customer service in India this number gets you to "Protfolio Managers" who are actually in the US (or at least speak English well) and can enroll you in one of two options. Not sure if you have to go through the not paying for a few months process first to become eligible or not though.


March 24, 2010 11:07 AM

I am on the there 9.9% program and am going to stop paying them for now. The FDIC will have to sell the debts and I will deal with the buyer. I may be wrong here, but all those programs now that the fdic is in the picture are not worth anything? Someone jump in and correct me if I am wrong?


March 24, 2010 2:36 PM

my advanta acct charged off a few months ago but as of last week it was still with the bank, just outsourced to a collection co (sage). i tried to get on a hardship plan i could afford but they wouldn't budge. what should i expect now that fdic has taken over?


March 24, 2010 5:54 PM

I'm nearing 90 days late on $20K, I refused to pay after the 2nd rate jack to 30%. At 60 days a "senior manager" left a voicemail offering a payment plan. Day later I received a letter offering a budget program at 9.9% or hardship program at 3.9% for 12 months, then 16.9%. Today a voicemail from Advanta offering an APR of 10% or even 4%. Based on how they've treated me (and others as described on numerous internet sites)I have no reason to believe anything they say, so I'll just wait for now....


March 25, 2010 8:17 AM

Dennis Alter must be related to Bernie Madoff. I had never missed a payment to anyone in my life. Didn't care that they froze my credit line. But taking a perfect payment history from 5% to 35% should land Alter in jail. I hired a lawyer who wrote them a letter attached 24 receipts for 24 electronic payments to, prove I was never late, copied the FDIC and they returned the letter unopened. I refuse-repeat! REFUSE to send a payment to a pretend bank who charges Mafia interest rates. They have trashed my credit report. But they can shove it because I will not reward crooked business practices with another payment.

Alter is the same fellow who promised investors 11% CD deposits under the facade of the name "Advanta" folks did not think to ask if it was Advanta "Bank" or Advanta "Corporate". I read his last ditch effort swindled Mom and Pop's out of $138m. At best they may get back pennies on the dollar. Interesting how all of the above took place right after Alter built himself the largest house in PA. Spent $83m, then files bankruptcy. Where's the justice???


March 26, 2010 9:50 AM

Directly asking Advanta for a settlement is another strategy to resolve outstanding balances, but don't want to file bankruptcy or pay the high interest in the hardship program.


March 26, 2010 1:29 PM

Anyone managed to reach a human being about their CC balances? I've been through 5 numbers either reading me the press release, giving me another number to call or hanging up one me...



March 26, 2010 3:14 PM

I wrote a letter to the person that wrote and told me the account was closed, anf the interest rate would be29.9%. I told him I would not any more at that rate. I never leard from him, but I did start getting rude calls from collectors. I told them to contact the credit department in Utah. After a month the collecto called and said that would reduce the rete to 16%. I said refund late charges and refund interest at the higher rate. He did.I'm waiting for the next chapter.


March 26, 2010 5:44 PM

A collector for Advanta called today 3/26/10, and offered to settle my debt and wanted me to make the payment immediately. It seemed fishy. I just found this article and now I am not sure what to do. I am very hesitant to settle with Advanta if they no longer own the loan.


March 26, 2010 8:13 PM

Yeah, I'm getting these calls from folks who say they're calling about the Advanta account, but who knows where they are calling from....? I don't trust them.


March 28, 2010 9:22 PM

I am among those who never missed a payment on my Advanta account only to have my interest rate increased on a $800 cash advance to 35.99%. I continue to may payments on the transfer balance payment but unlike other accounts, there isn't any percentage of the the monthly payment applied to the cash advance amount because the interest rate is much higher. I was initially impressed with Advanta for offer Small business the opportunity to a credit line, but they have proven to be the worst. I refuse to allow them to destroy my credit that I have worked to achieve all these years.


March 29, 2010 12:57 AM

Anyone know if the FDIC reports to your personal credit report if you stop paying now that there no more Advanta.


March 29, 2010 10:01 AM

unfortunately, you still owe the money and are responsible. the fdic taking over has no bearing on this fact. you all need to address these balances with the agencies that are calling you. they have bought your debt. you can normally get very fair settlements.


March 30, 2010 1:09 PM

According to the fdic - no one has bought advanta debt. Tried to call and nothing? just recordings. Not going to keep paying - I want to settle and move on, but have no idea how??


March 30, 2010 2:56 PM

Here is a link to the FDIC website that may clear up a lot of quesitons regarding Advanta Bank Credit Cards.


March 30, 2010 7:08 PM

I am trying to settle with Advanta. However, if the FDIC owns the debt, how does Advanta have the authority to settle our debt if they do not own it? I am leary of sending in the money now.


April 6, 2010 9:08 AM

We don't even have an account with Advanta Bank, but they have called us at least two dozen times about another person with a similar name and different social security number. In spite of a letter telling them to not call us as they had the wrong person, they gave our name to Phillipps Cohen Assoc., who are not calling about this same manner. Letters don't work. What do we do now?

jeff t

April 6, 2010 10:44 AM

does anyone continue to make payments online? advanta's website has been shut down and we are on paperless statements. will customers be individually contacted?


April 8, 2010 8:09 PM

I have been delighted with Advanta service and rates and was sad to see them stop doing business before I could work out a buyout as their rates and the fact they do not report unless the borrower screws up was great for a small business that depends on the owners being credit worthy. I reffered them to dozens of clients and we were all sad o see them close by far one of the best lending experiences I have had


April 10, 2010 5:07 PM

> does anyone continue to make payments online?

Any time a bank changes their domain, especially when they tell you about it via email, you should be highly skeptical, but it does appear that the now FDIC owned credit card operations have been moved to (If you go to (note, no "s" on htps, as the secure server seem to have gone away), it also links to The Verisign SSL certificate appears legit, though that alone doesn't say much.

Annoyingly the FDIC FAQ mentioned above doesn't mention the new payment site.


April 11, 2010 1:58 PM

Hey Calvin,

I guess you where speared having you interest rate jacked from 7.99% to 37% as I did for doing nothing wrong. I for one am delighted as you, but no for there services, but for them being shut down by the FDIC.


April 11, 2010 5:26 PM

You can still make payments etc on line. Access you account through:


April 14, 2010 1:15 PM

I signed up for their hardship program. 4.99% interest for one year, reduced monthly payments,(after one year 16.99%), all late fees stop supposedly. I signed the paperwork,made by 1st payment. Have now received latest statement reflecting my payment BUT interest rate still shows 29.99% interest w/ $39 late fee. I called Advanta at the # on the statement and a very angry man basically was YELLING at me, telling me to ignore the statements and just make my next payment. He told me NOONE ELSE questions this??!!!!!!! This does not seem smart or logical?? Why wouldn't statements reflect the hardship rate? I am very suspicious. Anyone else have similar situation going on?

Joseph A. Banks

April 14, 2010 6:55 PM

Your experience makes it difficult for me to justify even speaking with Advanta about my 20K balance. They've rate jacked me twice to > 29.99% and I just don't trust them. Unlike Calvin's experience (does he live on Mars?), Advanta has been the worst credit card company I've ever dealt with. I'll just let my credit score plummet, ignore their incessant calls, and see what happens. When will the FDIC or the remaining Advanta skeleton crew sell their accounts off to someone else? I wonder how many folks will be chased off into bankruptcy by this insipid worthless company...

Andrew Williams

April 15, 2010 1:10 AM

I'm with Calvin,
I never had a Problem with Advanta.
I never had a clue they were even in trouble. I must admitt I have never used a cash advance in my life, but I for one felt sorry for them. Until I read of of these horror stories, I was convinced someone would buy up the accounts and open up the funding. Should I pay off the small 2,000.00 balance, or see what happens with the FDIC?


April 16, 2010 9:55 AM

I am not using my business address since this is public. How do we get information on the class action suit. Web site says keep paying these obscene fees.


April 16, 2010 10:07 AM

I'd like to pay off our balance but the when I click the link I I get a warning that the security certificate is "untrusted". What's up?


April 16, 2010 10:07 AM

I just called the 800-705-7255 number and got a woman in India. I was told they have no hardship program. She told me the credit cards had nothing to do with the FDIC closing. If you go on line to pay the bill that information comes ups immediately. I asked again for the hardship program and she said she never heard of it and it did not exist. Then she hung up on me.


April 16, 2010 2:55 PM

This morning I called the FDIC at 877-875-4744.I spoke with a very nice woman. She took my information and said someone would contact me. I told her about the phone call with India, the hang up etc. She was aware of this. I told her my entire conversation with the representative. I told her many of us would like to work out a solution, however, the call center will not speak
with us about an issue, hangs up or says they are not associated with the closing.
Call the FDIC and just maybe we can get some resolution if they hear from enough of us.


April 17, 2010 11:16 AM

I just found out about this after trying to pay online. It(bankruptcy & seizure) couldn't have happened to a better group of people. I have not received a class action notice. Have they gone out? It seems from the comments that they have. If so, who are the lawyers for the class and how do I contact them?


April 18, 2010 12:09 PM

Class action... I am in - Just tell me where to sign up.


April 19, 2010 6:40 AM

Ironically, the FDIC is now in the position of being one of the most usurious institutions in the land as it apparently has no intention of scaling back the outrageous 35% interest rates on Advanta small business credit card amounts!!!


April 19, 2010 10:53 AM

Some den of thieves called NCB Management now handles tghe "customer service" functions of Advanta (and the FDIC, presumably). Call them at 1-877-304-6426. I too had a late fee which they finally agreed to take off the account when I explained how low they are on my priority list. Let them chase us all for the money.


April 19, 2010 5:25 PM

I've simply given up, can't afford the 29.99% interest rate. 3 months late and now they offer to reduce the rate back to 16% - I don't think so.

Class action suits are useless since there is nothing left to sue, and it appears the FDIC is OK with +30% interest rates...

Maybe the teabaggers will help us.


April 19, 2010 5:59 PM

Called customer service # on my statement today. Told them my business was failing and that I needed to talk to someone who could help me. Shawn said he was the only one (indian accent)
I told him I could no longer make the payments and that I was in the process of listing the building I own and run my business out of and needed an extension and waiving of late charges with the intention of paying the bill in full when building is sold. He could not make any concessions at all not even lowering the rate even after he acknowledged that I had been a customer for 15 years and had never been late on a payment. The emotions I am feeling faced with the prospect of closing my business after 28 years is overwhelming. I am doing everything I can to not take out bakruptcy but the banks and credit card companies act as if that is exactly where they want you to go. I am almost 65 years old and watching my life's work going up in smoke. Did I mention that I own a title comnpany? This meltdown was totally out of my control and ability to survive. I tried to borrow my way out since we have been thru similar situations before but I never dreamed it would go on this long. I need help but am running into a brick wall every which way I turn. Am I being stupid for trying to do the honorable thing or should I just join the deadbeats and try to go on with the rest of my bleak looking life. I think I went off on a tangent here but the Advanta mess is just one of the many cc companies that has ripped us off just because they could. Although they are by far the
worst. I am being charged 34.99% and have been since the crisis started. But I can now say that they have received the last payment I will voluntarily make. The bankruptcy trustee can now decide if they get anything else out of me.


April 19, 2010 11:53 PM

OMG, i cant believe the interest it has jumped to, trying to pay this card and it keeps getting higher and higer, up to 30's per cent, what can we do help!!!!!!!!!!!!!!!!!!!!!!!!!


April 20, 2010 10:11 PM

I filed for bankruptcy in 2008, however since my Advanta business card never appeared on my credit report, my lawyer never included it in the bankruptcy. I just received a letter on March 7th of 2010 (never received anything before) from Sage Capital Recovery demanding payment in full. Soon after I was contacted by phone to make payment arrangements with a very nice and understanting person. When the time actually came to discuss the arrangement, he transferred me to his "manager" who was totally rude to me and treated me like I was an idiot demanding payment immediately! I am not about to let them intimidate me, and will have to wait and see what happens with this whole Advanta thing.


April 21, 2010 10:06 AM

Everyone concerned over FDIC continuing these indefensible rates should contact House Financial Services Committee to ask why government is not lowering these rates. Think what a stimulus this would be to small business if they were to cut it back to even 18%!
So lodge complaints, get in touch with individual congressperson, and tell two friends to do the same!!!


April 26, 2010 2:34 PM

Gaby: If you had a "no asset" bankrputcy your debt with advanta is probably discharged by operation of law. Call your lawyer!


April 29, 2010 11:11 AM

April 30, 2010



July 24, 2010 2:08 PM

Has anyone actually paid Sage Recovery? They agreed to a settlement which was about a third of the total owed and we are paying it over two months. Were others successful with paying them off?


July 30, 2010 7:37 PM

i had the card for 8 years paying
the bal. off every month until 05 when i had colen cancer and could not work for 8 months i lived on the card for that time i told them what was happening i payed what i could thos sob s whent form 15 to 20 to 25 to 30 @ findly 36% int my bankrupcy was final
3-05-2010 those bastards sould be

Stan McIntyre

August 2, 2010 6:40 PM

I entered into an agreement with Advanta in which they lowered my payment and electronically paid 4 payments. At the end of the 4 payments my account would "re-age if I didn't
pay the following payment on time. I was told to ignore the 1st 2 statements(I have the person's name and a conformation #). The 3rd and 4th were wrong also. nobody seems to understand that there. I wanted the statement corrected before committing payment, but they are stuck. If I could get the statement straightened out I would have no problem paying what was agreed on. Upon trying several times to get someone to take the name and conformation # to prove the statement is wrong, no-one would even take the #. I'm 64 -small fixed income.


August 5, 2010 2:50 PM

No thanks to banks that will not loan to small business. We depend on credit cards to run our business. Advanta made us choose to either give up revolving credit or have interest rates up to 36%. We have never been late on a payment most often paying more than the minimum payment and this is how not only Advanta has treated us but Citi bank as well. We pay for our merchant service credit card machines for their benefit We pay monthly fees for our customers to have this service. They should be paying us to have their machines in our stores! But they're adding fees all the time. I'd like to see the rest of these credit card companies investigated for all their fraudulent practices, and their hell bent practices to rid the US of small businesses they don't know who butters their bread!


August 18, 2010 7:09 PM

Yes, Advanta caused us to file bankruptcy protection due to their greedy tactics and threating lawsuit phone calls from their collectors and 30% interest rates!


August 27, 2010 12:59 PM


Jeff S

September 13, 2010 2:44 PM

I opened Advanta small business account in 2004. In about 2005 I borrowd 25k at promotional rate of 6.99% until balance paid in full. Payments are auto drafted & have never been late. In 3/10 my rate was jacked up to 19.99%. When I called I was told I had paid late & so rate was increased. I explained that I was never late. A month later rate was corrected to 6.99% and overcharged interest was refunded. Six months later Aug 2010 statement showed rate of 19.99%. I called & was told my promotional rate expired. The poor lady at the call center even looked at my statement (on her system) and said there is a footnote next to the promo rate on the June & July statements indicating the promo rate expires in July. This footnote does not appear anywhere on my statement. These guys are crooks. She put in a complaint & I will wait 10 days to see what happens. Based on what I hear from others it is not good. If they don't reduce the rate to what we agreed upon I will quit paying.


September 21, 2010 3:42 PM

1-800-705-7255, FDIC said they have just been sold to another company and no longer own Advanta. I call them and they said I had to be over 30 days late on payments to be able to obtain any programs for paying this debt. I have never been late before so this is scary but I can't continue to do this. I have since become disabled so without continuing to borrow from Peter to pay Paul... I have no choice. I just hope they record it because they emphatically told me not to pay it for over 30 days. They would not even let me speak with anyone about a settlement or resolution.


November 18, 2010 8:12 AM

Concerning the last two payments I sent to Advanta (Oct., Nov. 2010):
One sent 07 Oct. 2010, check deposited by Advanta 22 Oct. Fortunately, I saw that the check wasn't going through and called and made an extra payment, making the payment 3 days late. They charged a late fee of $39.00 which they later removed. Also charged $12.00 for the extra called-in payment. that they wouldn't remove. check sent 01 Nov. 2010 still has not been processed (it is now 18 Nov. 2010). After many calls, got them to treat the original Oct. pymt. (that by the time they processed it, was the (2nd) pymt for oct.) as pymt for Nov.
Next pymt will be sent out 01 Dec. with a return receipt. I'll be interested to hear what they say when they find that they haven't "received payment" when I have proof in my hands. BTW, our credit shows NO late payments for ANYTHING until this.


February 26, 2011 9:04 AM

What happened to the website? I cannot make my payment on my credit card bill?

Does that mean they closed down their payment site?

How do I make a payment?


March 6, 2011 5:35 PM

I am also unable to access the website, which is where I've been making payments.

Here's the message that pops up:
------------------------------------ uses an invalid security certificate.
The certificate expired on 2/23/2011 3:59 PM.
(Error code: sec_error_expired_certificate)


March 7, 2011 3:39 PM

They are still mailing statements, and there is a phone number: (800) 705-7255. The FDIC's phone number is: (800) 537-4048

Also, I was able to access the website by using Microsoft Internet Explorer browser, instead of Firefox, and selecting the option to view the website despite the invalid certificate.

The agent I spoke to said they are in the process of renewing the certificate.


March 14, 2011 3:56 PM

They keep trying buy I'm not paying them one red cent. I disputed the credit report and because they aren't there to verify, and secondary owners of debt can't report, i got it dropped. Also, 3 year SOL just ran out Friday. I'm FREE. FU Advanta!


March 31, 2011 6:32 PM

We have also been victims of Advanta's scams, these people are unbelievable. They are rude, unprofessional, and as of this month I will no longer be paying my Advanta bill. I suggest everyone do the same. I was on a hardship program that just expired this month and I called to request additional help or to at least extend the interest rate and lower amount I was paying since I was still in a hard situation. They said there is nothing we can do for you and that was including managers. My interest rate went from 3.9% to 17%. They saidthat 17% was to help me get on my feet because really it should be at 32%. Un-freakin beleivable!!! STOP PAYING YOUR BILL ASAP. TAKE AWAY THEIR POWER!!!


May 2, 2011 5:55 PM

I stopped paying a year ago due to their 39% interest rate increase for no reason and our business failing. I received a letter from an attorney on behalf of Advanta in receivership of FDIC giving me 30 days to pay the debt in full. I don't know what to do. Cannot afford an attorney. Has anyone actually been sued by them?

Stop Paying Them

May 9, 2011 10:38 AM

Check your states laws for SOL (Statute of Limitations) on the debt. Mine has expired as I stopped making payments a long long time ago. They made a few phone calls to me alluding to a settlement offer. I recorded voicemail messages. The next time they called, I picked up the phone and let them talk and then asked them about the settlement offer. The person asking why was I bringing up a "settlement offer"? I then told them they brought it up first and played back the voice mail recording.
They hung up. Never heard from them again.
They jacked up my rates many years ago, just as they did to all of you. As far as I am concerned they were breach of contract. And since they have done nothing for the last 5 years to collect, they now do not have the legal authority to collect.

For those of you getting phone calls or letters, the letters are just "demand" letters from a law firm. That is all. Just a stern letter hoping you will take it seriously. Don't. Advanta no longer exists.

If someone contacts you via phone or mail ask them to verify that you owe the debt. Do a search for DEBT VERIFICATION LETTER or DEBT VALIDATION LETTER for a sample of what to send.
Once you send that letter to whoever is trying to collect they MUST cease contacting you until they can prove that you owe THEM the debt. Otherwise they are violating the Fair Debt Collections Act.

I highly doubt that any current collector has a contract with you for that debt.

They can't do anything unless you LET them.

Rolando Seeliger

August 23, 2011 11:02 AM

When I originally commented I clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I get four emails with the same comment. Is there any means you'll be able to take away me from that service? Thanks!

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