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Discover Card - Scam
Review by heartsjazz on 2012-06-28
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ONALASKA, WISCONSIN -- I had a bankruptcy proceeding 6 years ago. At that time, I had a very small amount on my Discover Card and decided to keep it...just in case I had a household emergency. I talked with one of the agents who said that IF I made payments of a certain amount for 6 months, or got a certain amount paid before x date, my interest rates would go down. I gave up everything and anything to make those payments on time, and yet, when that date came, Discover claimed there was never such anagreement. so up went my interest to, I think 28%. I then ran into more trouble-- 2 family deaths, I lost my job, got sick and developed COPD. Collectors called with threats, nasty comments about old people not having any honesty, why should they give me any consideration?... and so much more... after that, they must have sold the collection list, as I got an abundance of calls from various collectors, and only one of them said, he was sick of his company's mistreatment of people like me, and said he wouldn't bother me anymore. It got quiet for a few years... and now I get a summons from Discover to go to court, they are suing me for $20,766.59..... about 11 Times more than what I was trying to pay off in the beginning. Discover had better have all those "recorded" phone calls they claim to have, AND bring their copy of my billing from Day one.... What horrible creeps!!.... I hope President Obama's ruling will help put Discover out of business.
Comments:
Posted by trmn8r on 2012-06-28:
Anytime a person falls behind in credit card payments for years, regardless of the circumstances, the result isn't going to be pretty.
If a collector "went away", it wasn't ultimately to your benefit based on what has happened.
At 28% interest, after 6 years assuming no other penalties, you would owe 4.4 times the original amount. That rate is insane, but not uncommon with CC banks. What is insane is that people would consider a rate as low as 10% reasonable - 10% is off the map as well. I wish you could have gotten to the point of having your balance paid off - CC interest is way too high to pay.
If a collector "went away", it wasn't ultimately to your benefit based on what has happened.
At 28% interest, after 6 years assuming no other penalties, you would owe 4.4 times the original amount. That rate is insane, but not uncommon with CC banks. What is insane is that people would consider a rate as low as 10% reasonable - 10% is off the map as well. I wish you could have gotten to the point of having your balance paid off - CC interest is way too high to pay.
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