Re: STRANGE twist: current account SOLD to OLD Creditor! What to do?

Posted by Mandy (172.175.70.78) on March 05, 2004 at 23:00:57:

In Reply to: STRANGE twist: current account SOLD to OLD Creditor! What to do? posted by Picksley on March 05, 2004 at 18:12:25:

Same thing happened to me with Citibank. I find it hilarious. I’ve had their collectors hounding me for years on a couple of visa charge offs. Then at the same time, they send me a brand new card welcoming me into the Citibank family. I use it all the time. Helps my credit. They report charge off every month on two accounts and report pays as agreed never late on this retail account.

I also have a savings account at another bank with a charge off. I still go in to the branch all the time for money orders and cashiers checks. Not that it’s a huge amount of money, but they’ve never made any movement to seize the account. They like my business. I like their bank. Nothing personal about the charge off. Some dead weight had to be cut loose.

And the funniest is a third bank where my husband has a charged off visa and I had a personal line of credit. We had to cut those two account loose also due to a great loss of income, and their collectors call all the time. But I also had a Visa Gold card with the same bank that was current. I thought for sure they would cancel the visa card when it came up for renewal since they were already chasing after us and my credit report is shredded. But no, to my great surprise, in the mail came my brand new Visa Gold card from the same bank renewed for another 3 years! I use it all the time and pay it in full every month.

I don’t honestly believe the banks take charge offs personally as some collectors do. It’s just business. Just because one of your accounts goes bad doesn’t mean they can’t still make money off of you with another account. It’s all just business.

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