Providian Account
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Posted by Anonymous
(216.77.139.229) on November 02, 2003 at 20:03:18:
I live in Alabama and had a credit card account with Providian. This account was closed by them in 1999. The account was classified as written off in August of that year, and the end balance was $2,280.00. In March 2003, a collection agency called and offered a settlement consisting of one (1) lump-sum payment of around $1100, two (2) payments of around $800, or three (3) payments of around $650. I informed the collector that I was unable to agree to any of those payment plans, but I expressed interest in making payments to satisfy the account. The collector got sort of nasty and demanded that some sort of payment (according to the terms that were offered to me) be sent to them within one week. Later, I contacted Providian directly and was more or less given the same story. They would accept a settlement of no less than half the amount, and that must be made in one lump sum payment. I ended up mailing them a money order for $50 but have been unable to do send any more money until now. My question is this: before attempting to make any sort of arrangements to pay this account, should I wait until I'm contacted by Providian and/or a collection agency? Or should I take the bull by the horns and contact Providian again? As my income is rather limited, I'd prefer to make payments that I can live with rather than risk receiving a court summons and be subject to garnishment pursuant to a judgment in their favor.
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