I heard they are going bankrupt. It would be so nice if they did go bankrupt and us debtors wouldn't have to pay anything back. Ok wishful thinking. They are the MOST difficult credit card company to deal with. When they riased my interest rate up to 27% I cancelled my card, but even after I pay over the minimum payment, my balance isn't going down very fast. They are also the MOST harassing company I have ever dealt with. I am getting a few extra buck next month and I am going to do an A&S with them, maybe that will shut them up. If they are going bankrupt, they may accept it a little quicker and accept the 40% of the bill I am going to offer them.
Too bad it doesn't work that way. Even if they go bankrupt, our accounts are assets and will be sold and the money distributed amongst their creditors. L
I know Providian is in financial trouble but was not aware that a bk was forthcoming. Nextcard on the other hand will probably go bk in June. Best regards, Mirage
Their stock price has been climbing since February. http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=pvn&time=8&freq=1 Now look as Nextcard: http://bigcharts.marketwatch.com/intchart/frames/frames.asp?symb=nxcd&time=8&freq=1
Even if they did go bankrupt, someone would buy the accounts. CC companies spend huge amounts of money to get customers so buying up a bunch of loans, even if some are subprime, would be an easy way to find new customers.
That might be true but we are still waiting for the Nextcard accounts to be bought. The bids were suppose to have be handed in two weeks ago. Providian has sold quite a bit of their assets, so at least Providian has cash on hand. Best regards, Mirage
