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Special Payment Agreements and Account sold

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If you have a special payment agreement with a credit card corp. and have been making regular on time payments for over a year, and then the credit card company sells your account to a different corp. Do you lose everything?? I havew an agreement with Providian--zero % for the life of the loan. Now, after a little more than a year, acct has been sold to Chase. Providian sent me a letter saying all Agreements OFF!!

Do I, as the consumer, have any rights?

Is there anything that should be done?

Just thinking about this boggles me...If my mortgage is sold, does this new account holder have the right to change the terms?

Peh102 :confused:

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With a mortgage, no, the terms can't change.

If you made special arrangements (did you go on one of their hardship programs?), then these may not transfer over, only the original terms of the credit card will transfer (unless you signed something - it will be tough to prove agreements over the phone). You will have to negotiate again. Most likely they also have a hardship program, but Chase is known to be a little tough. Providian is basically going out of business.

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