Re: just a thought on owing CC...
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Posted by Paul
(207.44.154.35) on January 10, 2004 at 18:46:18:
In Reply to: just a thought on owing CC... posted by catballou on January 10, 2004 at 12:50:00:
One thing’s for sure, If they weren’t writing off the debt and getting subsidized 35% for doing so, they wouldn’t be giving away this crap to the garbage debt buyers for 2 to 5 cents on the dollar. They’d hold it in house much longer and be willing to make rational settlements with people, even if it were for only 15, 20, or 25%. Currently they have little incentive to settle with anybody. Jacking up the late fees, over limit fees, and 30% interest in the 6 months prior to charge off is just another way to fleece the taxpayers with their having no intention of ever settling with a cardholder.
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