Re: Credigy

Posted by Paul (216.127.82.99) on March 13, 2004 at 00:11:03:

In Reply to: Credigy posted by Mark on March 12, 2004 at 20:34:32:

Fleet was selling their worthless charge offs to First Select which was Providian’s bad debt buying subsidiary. First Select tanked which is why you probably didn’t hear from anybody for a year. First Select has since sold off most of their portfolio of worthless charge offs to Credigy. So you are at least two steps removed from your Original Creditor. Credigy is a solid 2 cent on the dollar debt buyer. They would have purchased your $480 charge off for $9.60.

Credigy has a very well done web site online that belies their bottom feeding status at credigy.net. That would have some contact information.

Whether Credigy can “legally” add $900 interest to your $9.60 account is an interesting question. They obviously do it all the time, and try to get people to pay. For the most part though, any payments to Credigy and all the other 2 cent on the dollar debt buyers are donations, so they can ask for whatever they want. What you choose to donate to them is up to you.

Follow Ups:

Post a Followup