Hey, I have this collection account on my credit report that is not mine belongs to a family member with same name, I have sent a Validation Letter to the CA, still they haven't responded yet, the 30days is not up just yet, I have contacted the CRA via certified return receipt mail and told them it belongs to a family member, the account is still under the 30 days investigation period. Today I receive one of my credit card statements and I never look at the "APR" and for some reason today I did, well guess what it's now 42% APR I was like whatttttttt....... Good thing the balance is below $50.00. Can this increase in APR be because of this collection on my CR??? I'm giving the CA up until the 30days to validate the so called debt, after that I guess I'm stuck paying my lawyer to resolve this matter. Isn't this damages? =( I'm pissed I just finished eating dinner and when I read this on my statement I was like ohh man....running straight to the can LOL. Anyone have any advice?
Damn right that's damages. Get thee to the courthouse and file suit against the CA for trashing the wrong person't credit. I believe it's called defamation and libel.
DEMAND A WRITTEN REASON!!! If they say because of a CA on your credit report...CALL THEM AND DON'T EVEN MENTION ANY RELATIVE (that is none of their business)..."THAT CA IS NOT MINE---I DON'T HAVE A CA" It has already been disputed..."YOU FOUND ME GUILTY BEFORE YOU KNOW THE FACTS??? THAT IS SO NICE OF YOU" PAY IT IN FULL...DON'T USE IT TILL THEY FIX IT AND SEND A LETTER CONFIRMING THEY GAVE YOU THE LOWER RATE" They will NEVER admit that they made a mistake...BUT EVERY TIME YOU SHOULD THINK TWICE BEFORE YOU CHARGE EVEN $5.00 ON THAT CARD!!! THEN GO AFTER THE CA...
42%?!?! Is that even legal!?!?! I thought there was a cap on that. Either way, my DW's is 29.99% with Providian....how ridiculous!!! She has awesome credit too....thank God for those AU's!
Do you have any "cash advance" fees, or any other "financing fee"? Some (maybe all) of my cc's take the total financing charges for the month (interest, cash advance, BT fees) and divide it into the average daily balance, and come up with an "effective annual interest rate"... in fact, a recent statement said my "Effective APR" was over 150%, because I did a 0% $5000 BT on the next to last day of the cycle, which incurred a $50 financing charge... my average daily balance was under $400, but my "interest" charged was $50. Just a possibility... -jpr
From 20% to 42% APR in ONE MONTH! ================================== This is what fico is all about. THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
Lawyer Fees ------------ A lawyer had successfully handled a difficult law case for a wealthy friend. Following the happy outcome of the case, the friend and client called on the lawyer, expressed his appreciation of his work and handed him a handsome Moroccan leather wallet. The lawyer looked at the wallet in astonishment and handed it back with a sharp reminder that a wallet could not possible compensate him for his services. "My fee for that work, " acidly snapped the attorney, "is five hundred dollars." The client opened the wallet, removed a one-thousand dollar bill, replaced it with a five-hundred dollar bill and handed it back to the lawyer with a smile. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Today I receive one of my credit card statements and I never look at the "APR" and for some reason today I did, well guess what it's now 42% APR I was like whatttttttt....... exotic ================= You hain't seen nothing yet. Wait till your other creditors jack their rates on those accounts also. Next comes the higher insurance premiums. Really great how Fico and reporting is set up to rape you isn't it? THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
42% APR? That's a highway robbery in broad daylight! I mean, even the famous Chase managed to jack us up only to %29.99, I think. I'd raise holy hell and then mail them the shredded card back in one of their promo envelopes. PawMix
Ooh, that's a good idea. Providian (or whoever owns the card now) won't reduce my DWs APR from %29.99, regarless of the fact that she's had it for almost 3 years and paid balance in FULL every month! Time to start a-slappin'!!
I paid off and closed my providian account the day I got the first statement saying my rate was 29.99%
It could be Crapital One. I took out a cash advance once, and only one or two days was included on the statement in the daily rate or whatever they use. The APR was showing as 456%.
1*Can this increase in APR be because of this collection on my CR??? 2*I'm giving the CA up until the 30days to validate the so called debt, after that I guess I'm stuck paying my lawyer to resolve this matter. 3*Isn't this damages? =( I'm pissed .exotic ============== 1*Yes. 2*probably not 3*Could be THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
