Advanta Credit Card Scam
By · CommentsI sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. November 2008 I noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.
Now, being in the industry for over 10 years I know that I need to watch my credit. I look for charges I didn\’t make and it is tough to scam me. I have seen it all but this takes the cake. They told me I am now at a high risk for default so that is why they raised my interest rate? That doesn\’t make any sense. They should lower my rate if they think I will default on my credit card. How will an increase in what you are charging me keep me from defaulting. Luckily, I have the ability to pay off this card today but I want everyone to realize that these companies have you by the short-n-curly\’s. Watch your statements and lookout for this scam.
FYI, In NY, the maximum interest rate is 30%. They are charging me more then the maximum allowed in my state. I will send a letter to the BBB, the NY Attorney General, the UT Attorney General and the Department of Consumer Affairs.
As a nation we are in deep trouble. If a credit card company can just raise my rate because they feel like it I am positive that 99% of their customers are also paying 36.1%. How many other credit card companies are doing this to innocent people? We need to fight back. I am going to tell as many people as I can.
Unfortunately, there is nothing we can do except payoff the card. I was told I am a high credit risk. I paid the bill in full after I realized the rate was so high and the next month I received another bill for more finance charges for about $255. I paid that bill in full. I just received another bill in the mail for $5.65 and my rate was changed to 37.99%. Another point higher.
Just for cookies and giggles I called again to see why the rate went up again and they said \”Sir, you have been classified as a very high credit risk and as a company we can\’t risk you not paying your bill with us.\” I said \”I just paid my bill in full with your company, I have never had a late payment with your company in three years, I have one mortgage on my house for $290K, 25 years left at a fixed rate of 5.375% and it is worth over $500k and almost zero credit card debt personally. I am in the fastest growing industry right now, CNBC expects the debt collection industry to grow at 25% a year for the next decade. What else would I have to do to receive a better rate?\” The extremely rude lady said \”Sir, you would need to send a letter to Santa Clause and maybe he can help you out.\”
The Government should put a maximum rate in place for the next year or so on all credit card debt. If the credit card companies are truly worried about consumers defaulting on their obligations, wouldn\’t it make more sense to lower the rate so we can continue to make the payments? By raising the rate, it only makes it harder to pay and more likely that a consumer will default. The credit card companies are preying on the weak right now hoping you don\’t pay so they can pound you with the highest interest rate. When you do default, they now have a higher balance to sell to a collection agency. In my eyes, this is a crime.
The Government doesn\’t care either. Instead of giving the banks 350 billion dollars, They could have sent $1151.98 to each US citizen to pay towards credit card debt. The banks still get the money but we the people get a little break on our bill. The average family of four would receive $4607.92 to pay off a credit card. They reason that the banks need the money so they can lend money again to us? Are they crazy? All the banks did was raise the interest rates on our cards and pocket the money without ever having to say what the money went towards. No accountability!
Now the geniuses in Washington are considering giving billions to the auto industry so they can produce more shit cars that we can\’t afford. How about giving the money to everybody with a current auto loan so we can pay for the car we already have. The money would still flow to the banks and auto makers via we the people.
Good luck America, your gonna need a miracle.
I feel better now. I was very upset prior to writing this blog. I hope everybody reading this realizes that if it can happen to me it can happen to anybody.
John Monderine Rapid Recovery Solution, Inc.
John Monderine is the President of Rapid Recovery Solution, Inc. a Debt Collection Agency. When you need help getting your Accounts Receivable collected visit his Collection Agency website for a free quote. Visit the Uber Article Directory to get a totally unique version of this article for reprint.
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Bankruptcy: Everything You Need To Know
By · CommentsBankruptcy might be looked upon as a quick fix answer to financial issues. But the effects of bankruptcy are long term and can greatly impair your ability to obtain employment, a place of residence, and any type of credit. It is crucial to weigh the pros and the cons of bankruptcy before making a major choice.
Admittedly, bankruptcy comes with a number of benefits. First and foremost it annihilates most of your debt. It can aid you with missed debt payments, defaults, repossessions and lawsuits. If you have horrible credit, it can get you started on rehabilitation.
Bankruptcy will hinder the phone calls from creditors, collections letters, repossessions, declined charge authorizations, cancelled credit cards, and lawsuits. You can also keep your car if you keep up on the payment; bankruptcy will also allow you to keep your home if you remain current on the payments.
Bankruptcy permits you to exit foreclosure and make monthly payments on amounts in the past. Finally, it halts creditors from making a claim after it is filed, even if your financial situation changes.
On the other hand, bankruptcy law offers a \”fresh start\” but only every six years in most instances. Bankruptcy will remain on your credit report for ten years and has a severe negative impact on your credit rating. Although some lenders allow for home loans after one year, filing bankruptcy might require a wait of two years before it is possible to buy a home.
Bankruptcy does not clear away most tax debt. It does not annihilate student loan debt. It requires that you hand over your credit cards. Unfortunately, bankruptcy comes with a stigma that can be embarrassing, and it may cause you to lose some of your things.
If you are not sure if you should to file for bankruptcy or not, call your creditors to figure out if there is a repayment plan they can work out with you. Even though bankruptcy is always an option, in most cases it should be seen as a last resort.
Mallory McGuinness is employed by a collections agency that works with a debt collection lawyer. She also composes pieces on business, finance, consumer spending and collections agencies. You are welcome to reprint this article – but get your own unique content version here.
Please take a moment and buy us lunch or a java!Choosing to go into the field of mental health requires someone that is committed, dedicated and most of all has an open mind. When thinking of psychiatry jobs many confuse the field of psychology with a psychiatrist. Though both specialize in the human mind there are differences in the two fields.
They both treat mental health issues that range from substance abuse with mental health issues to forensic and mental health related fields. A psychologist earning a PhD or a PsyD D is also considered a doctor; however, a psychiatrist has a medical degree. A psychiatrist may lean more towards viewing the problem as a medical issue where a psychologist may view the problem as a social one. They both can have the same view on a situation; it all depends on the practitioner. Both have the option of specializing in one of many fields.
When someone specializes in children they are known as a child psychologist or psychiatrist. Their primary clients are children and families of the children they see. Should someone consider this extremely popular field it is important to take into consideration that often times the families may be difficult to deal with. If there is a case with a child being seen due to abuse for example, the clinician needs to be very open minded to the family situation. They cannot be bias or blaming; this is often difficult for many in the field of treating children.
To have a specialization in sports psychology means the clients are somehow involved in sports, they could be players or coaches. Many of the clients seen in this field are seeking assistance with many different areas relating to their involvement with a sport. For example, it could a client that is having difficulties controlling a temper while playing or they could be having difficulties handling peer pressure. There are many different situations for the client to seek professional help.
Criminal or forensic specializations differ in the capacity to which the clinician is called upon. A criminal specialization is when the psychiatrist purpose is to analyze the specific behavior produced by an individual. They will attempt to get to the basic root of what influenced the behavior. Those working in forensics are more interested in helping to solve a case such as determining if a suspect claiming to be mental ill at the time of the crime, truly was acting out of brief or predisposing mental illness. They are often called upon as expert witnesses in court to give professional opinion as testimony.
Becoming a psychiatrist involves getting a tremendous amount of education. They start with a bachelors of science, followed by medical school for four years, then an internship and finally a residency. They are required to pass state board examinations in order to receive a license. After becoming licensed they are medical doctors and will have to complete various credit courses throughout each year.
As medical doctors they do have the authority to prescribe medications. A doctor of psychology cannot prescribe medications. Many people think a psychiatrist simply writes a prescription without having concerns about treating the patient. This is far from the truth. They do prescribe medications; however, they are concerned with treatment. Not all patients have the same symptoms, if a patient is diagnosed with bipolar disorder, this does not mean their symptoms are exactly like another patients. A psychiatrist will differentiate the symptoms and treat each.
For someone to say they want to get psychiatry jobs is not a simple process. This form of a medical career takes years of hard work, commitment and determination. These individuals are medical doctors and have studied side by side with the same individual doing surgery or repairing a broken bone, they simply chose to specialize in psychology.
Healthcare staffing center offering medical jobs across the country from hospitalist Jobs to rn jobs.
Please take a moment and buy us lunch or a java!What Is A Collection Company? Pt. 1
By · CommentsWhat is the deal with debt collection companies?
There are two definitions.
A number of creditors will do their best to intimidate a debtor by using a separate company name, address, and phone number for their internal collection departments, so that they can give the impression of an \”outside\” agency. This strategy is should only be used when the debt is recent (under six months past due.)
However, most collections activity is performed by a third-party collection company, which are separate from the original creditors, and \”work\” debts on behalf of various lenders. They may also buy bad debts which have been designated as charge-offs by the original creditor.
This series of articles will be focused on third party debt collection agencies.
How does a collection company get paid?
Third-party debt collection agencies typically work on commission, this is where they receive a percentage of the amount that they collect. Individual collectors are often paid a low base wage plus commissions based on their personal performance.
A number of companies buy huge groups of charged-off bad debts for a small percentage of the face value (amount owed.) After a debt is sold, the debtor now owes the full amount to the purchaser. Since the chances of recovery decrease substantially with time, an agency might only pay 1% – 5% of face value. The agencies\’ profits come from the difference between the purchase price and the amounts that are eventually collected.
How do they work?
The main tools of a debt collection agency are telephone calls and letters.
What is the deal with collections letters?
The 1st demand letter has to say that the recipient has the right to dispute the validity of the debt or request verification of the debt (in writing). Legally, the debt collection company has to send some confirmation after they verif it with the original creditor. Demand letters also must contain the statement that they come from a debt collector, and that any information obtained will be used for the purpose of collecting the debt. Collectors are forbidden to print anything on the outside of the envelope which may indicate or suggest that this is a collection attempt. The return address label must also be discreet, so many companies will just use their company\’s initials, or some other nondescript name.
Mallory Megan is employed by a collections agency that works with a debt collection lawyer. Also, she writes pieces on business and finance, the credit industry and collections agencies. Get a totally unique version of this article from our article submission service
Please take a moment and buy us lunch or a java!Stop Foreclosure With Loan Modification Services
By · CommentsA mortgage modification, also known as a home loan modification, allows homeowners to cut down their monthly mortgage payments by re-negotiating the terms of the first loan. This is one of the most sought alternatives to foreclosure as it allows people in the midst of financial hardship to stay in and keep their home. By obtaining a new payment arrangement through mortgage modification homeowners can avoid foreclosure and lenders still receive payments.
While not all mortgage companies recognize this type of program, it is certainly in your best interest to at least ask. Anyone facing the potentiality of foreclosure should do their own due diligence and proactively look for ways to save their home. Understand, lenders do not want your home, they make money by lending money, not by owning homes. If you are in peril of losing your home, you owe it to yourself to discuss alternatives with your lender.
Getting a home loan modification can be difficult, there is a series of steps to go through. You have to eligible for the program and provide sufficient documentation. You will be obliged to prove that you can really pay the new loan. Modifying your mortgage is but one of many options. However, it is one of the most convenient methods of rescuing your home from foreclosure.
Some people assume that it will cost them nothing to just walk away from their home and let it go into foreclosure. In actuality, foreclosure will cost you money and will negatively affect your credit. Is it worth it? No. Avoid Foreclosure With A Home Loan Modification.
The loan modification process can be overwhelming and confusing for many perturbed homeowners. If you are ill at ease with negotiating with your lender by yourself or if you want to better understand your alternatives, contact a loan modification attorney for assistance.
To learn more information about loan modification services contact Janian and Associates for a free consultation. Don\’t reprint this exact article. Instead, reprint a free unique content version of this same article.
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