Quote:
Originally Posted by JoshuaHeckathorn
Cap One was just sued by the WV AG for something similar to this. They were essentially offering $1 of new credit to customers that moved all their old charged-off debt to a new card and started making payments. The AG is accusing them of disguising new credit card offers as a solicitation to enter into a debt repayment plan. Very sneaky.
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There isn't anything new in that however. OSI/Sherman Acquisitions and Cap1 have been doing that for years. Its more than high time they got their comeuppance over that little trick. Nasty indeed and I'm sure lots of folks have fallen for it over the years.