What do you do when your account is bought by another credit card company?

[pcrowell]

My wife and I have a account that has been bought by another credit card company, yet again. This time Chase has it. They say we have been short on payments by $15 the last two months.

It started out as a First USA or something and we got behind in payments due to an injury to myself. We had to pay medical bills, etc... They tacked on late fees, over the limit fees etc till it was double the limit. $16,000 plus. We asked them to drop some of the fees and they suggested we go to a cccs. We did just that in Dec. 2003. We have been paying every month. Sometimes late but not very often. Been on time most of the last year.

They called to inform us that if we did not pay the $15 by Sunday (6th) of the week before last that they would drop us from the program. We called the CCCS people and they could not believe they were doing this over $15.

We got another call at work and they informed us that we were being dropped unless we paid $289.00. My wife told them we did not have that kind of money. They asked for $125.00, she told them she would call the CCCS folks to see what might be the problem. They said everything was fine.

We called the CCCS people today and were told that Chase turned down their request to keep us on the program at the same rate as the previous company.

I wished I had heard of this site before the first company jacked up our amount. I would have be able to do something about them.

Anyone out there with any suggestions on how to proceed?

Pman in Washington State

[hiblues]

Your options are:

1. Get down to the CCCS asap to arrange another program.. otherwise this could go to collections. However... It seems unusual to me that they won't accept the prior program...they should have to. .. unless of course you did not keep your end of the agreement up, then they can do what they want.

2. Talk to Chase about a program

3. have it go to collections and then deal with a CA , possible Judgment.

I'm sure all on this site would say, avoid CA's at all costs.

*

[pcrowell]

Thanks for the info.

I would think that they would have to abide by the terms that was agreed to by the previous owner. $15, whats up with that. I think they want to send us to a CA. Either that or the SOL is about to run out. This is a very old account.

[hiblues]

Sometimes late but not very often. Been on time most of the last year.

That isn't abiding by your agreement, thus they may have the right to change the contract. You need to be on time every time.

You had better get down to the CCCS asap.

[Ahntara]

"...abide by the terms that was agreed to by the previous owner..."

CCC is a voluntary program. Creditors don't have to deal with them. In fact, many refuse to participate at all since CCC/DMP can get fees and interest rates reduced.

If your monthly payments are short by $15.00, the creditor typically considers you late and will report a rolling 30-day delinquency. This is just ONE example of why we warn people away from CCC and DMP.

[pcrowell]

CCCS deducted $15 from our payment that we sent to the CCCS. I am of the understanding that they take a $15 service fee from one of our credit card accounts every month. Last month it was the one from Chase, that is why we are short by $15. The payment they normally receive is $160.

[willingtocope]

Well, here's a thought. I'm not sure exactly what you can do with it, but...

If the account was delinquent or in default when the second CC company bought it (maybe the one before Chase?) then they were, in effect, a junk debt buyer...which would make Chase a JDB also.

That means that Chase is NOT and OC, in this case, and is therefore subject to the FDCPA. Now, having CCCS in the middle of things may complicate the matter, but, Chase got a whole lot of explaining to do before they're entitled to anymore of your money.

[pcrowell]

We talked to the CCCS folks and they said that sometimes the credit card company just blows smoke. They said to hold tight until we get the next satement. If nothing has changed then evrything is the norm. If they have jacked up the interest rate then we will have to try another apporach.

I think we should send a letter asking for validation and just when did we become a Chase account. We did not receive any notice or any indication the was a new owner until all of this mess.

We have been trying to clen up our debts, we have paid off three cards and we are almost done with a forth.