I am a small business owner, a Contractor that is struggling to make ends meet. Advanta has raised my APR to 35.49%, making it impossible to even make the minimum payments. I have called several times to request a reduction in the APR and I get the same answer every time, no lower rates available, If I pay the minimum payments on time for the next 12 months, they will review and let me know.
Advanta informed me that if I was having a hardship to send them a letter explaining what was going on. I did this and now they tell me that my account has to be delinquent for 60 days or more before anyone will review this account.
I am only late by 10 days as of today, I have been called everyday by someone who says they are from Advanta, the people that I have talked to, come to find out, is from a collection agency Advanta is using to collect, and harass and informed me that they have the legal right to call me anytime they please.
I am at my wits end and need to join any and all other Small Business Owners to put a stop to this "Legal Theft"
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