Credit Tips: Providian Credit Card Review

Posted On: August 1, 2006

Author: karna68
Posted: Sun Oct 26, 2003 5:09 pm
Post subject: Providian strikes again!

These people should be arrested! My husband is starting his own business and we started to suffer a little financially so we did the responsible thing by hiring a debt management company to handle our accounts. Providian won’t accept the agreement! I can’t believe what jerks they are. My account has been closed for several years due to the outrageous interest rate hike. I tried to pay them off once before but they wouldn’t waive any of the outlandish interest. If you don’t have this card don’t get it, if you currently have it, get rid of it, NOW!

Author: Aisha
Posted: Sun Oct 26, 2003 8:13 pm
Post subject: Providian

Why are’nt you repairing your credit yourself? You can call all of your creditors and ask for their reaging or recovery department and ask the if they have programs for people who are having problems due to an illness, financial dificulties etc. These debt consolidations co.’s take some of your money that you pay and apply it to themselves. Ameridebt got into trouble with the FTC about a week ago. If an acct. is charged off, they won’t work with you in some aspects. The thing to do is go to recovery before charge-off. Recovery depts. will lower your interest and/or payments. Because your acct has been closed several years they can’t recover. It is better to never close an acct. before paying it off then you can claim hardship, and they can work with you.

Author: Guest
Posted: Tue Oct 28, 2003 8:11 am
Post subject:

Thanks for your response but you obviously don’t know the story behind Providian.

Author: karna68
Posted: Tue Oct 28, 2003 8:12 am
Post subject: Providian Credit Card Review

Oops that above post was me, I forgot to sign in

Author: NightStar
Posted: Sat Nov 08, 2003 6:42 pm
Post subject: Providian Credit Card Review

I know well enough about Providian, but debt consolidation companies usually do more harm then they do to help. I would personally like to see creditors refuse period to work with CCCS programs,

But that is a hard thing when they are the ones behind the CCCS programs - it is actually a pre-collection effort but you willingly pay in instead of the afterwards affect of actual collection agencies.

Sometimes re-aging is a good thing, but it has its draw backs like resetting statute of limitations and restarting the clock on accumilated interest and fees prior to charge off. Usually charge off should occur 180 days of non payment, but if you re-age (pay), then actual charge off won’t occur sometimes for up to 9 months or so, becuase you just bought the creditor more time to hurt you.

I know it is not an easy thing to explain, but if you had not been able to catch this account up prior to charge off, then letting it go its course might have been the best thing for you. — even though the damage is done to the credit report. If you can’t keep up, sometimes unfortunately their are casulties. But you can still go back and negotiate settlement or payment in full later after all the snow balling of fees and interest is done.

So what you may consider now, is to keep paying the accounts that are in CCCS program, and what ever you can do, put extra money to the side, and save up enough to approach Providian for a settlement agreement and finish matters with them once and for all so you can move forward.

Best of wishes with this matter,
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