We are having a terrible problem with US Bank's Collection office on a $10K unsecured Credit Line. The account was purchased (merger) by USB through another institution, which in turn got the account from the original, now defunct bank. The final straw this week, was discovering that USB's Collection office submitted an unauthorized bank draft, following a telephone call in which we discussed a possible payment. My bank paid the item and has charged us $29 plus $5 per day for 10 days = $79. Several months ago, we had the Account under a 6-month Hardship program where drafts were authorized. Then the 6 months ended and they would not agree to extend the program. Then recently a telephone offer was made by a solicitor in USB's Collection office to adjust Rates/ Terms in exchange for a payment. I verbally agreed BASED ON the offer. When I asked to confirm the deal, and stated my understanding of the deal, she then changed in mid-stream!! So I told her quite clearly that NO payment was authorized since she had backed out of the offer made 10 minutes earlier. She submitted the Electronic Check anyway. The main problem with the account - a Platinum VISA taken at very attractive rates - 10% APR with NO FEES, including NO late fees. I have the Cardmember Agreement stating exactly those terms. When USB bought the other bank, they changed all Terms including adding a 24.9% Default Rate, plus added Fees of various kinds, Late Fees, etc. We promptly CLOSED the account and Opted Out. That was over a year ago. They however are insisting on a 24.9 APR on the entire amount 10K. Plus due to the high interest it's gone over that -- so they add $39 Overlimit and $35 Late Fee every month. They have added a total of nearly $1000 in added interest and fees they claim we owe. We are now refusing to pay another dime on the account unless they (1) refund ALL of the excess APR over the original 10%, (2) refund ALL of the Fees, (3) refund the recent Unauthorized Payment made including the $79 in NSF fees caused by their fraudulent charge. COMMENTS?
