Re: First Select? and Credigy Receivables? SCAM or what

Posted by info (68.106.21.79) on September 26, 2003 at 21:05:07:

In Reply to: First Select? and Credigy Receivables? SCAM or what posted by raul duke on September 17, 2003 at 01:24:36:

First Select is the debt buying subsidiary of Providian Bank. They purchase charged off receivables from other credit cards such as Discover, Fleet, etc. Once they purchase these accounts, they tag your credit with the First Select tradeline. It appears, they sued you, obtained a judgment, then sold the account to Credigy! So, look back at your credit report for any other charged off accounts that say transferred/purchased by another lender for a similar amount and date, and that is probably the original account.

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