Direct Merchant Bank
Ripoff harassment, deceptive practices How can you make the payments they set forth and not make headway on the debt?

I got their card over 10 years ago because I needed one and I worked at the bank (different name at the time) and got a low interest rate. Years later and financial problems and I was behind on payments and over the limit.

I closed the account and started making payments. Over the years I've probably paid the amount of the debt ($1,800.00) many many times over and yet the amount never seems to go down. They call me every day, several times a day and on weekends just after 8am (can use them as an alarm clock).

When I call they set me up on payments and I make the payments for a time and yet, the balance is a lot higher than it was years ago. How can you make the payments they set forth and not make headway on the debt? They never tell you that the payments they are asking you to make aren't enough to cover even the amount of the extra fees and other charges (very deceitful and deceptive).

Also, I had something on there called Charge Guard, which I know I never signed up for and never do on any card. But no one could tell me how to stop it; it wasn't them and they weren't responsible for it, so I'm getting charged $20 a month on a closed account.

Well, last rep I spoke to again gave me a payment plan and after he laid it out I asked again if this will start my balance go down and he admitted no it wouldn't, I'd have to make larger payments to cover all the extra fees and such they charge.

I'm investigating what I can do and who I can approach at their company to write this account off. Since they've received from me at least 5 times the amount but possibly a lot more than that, and it doesn't make sense to make payments anymore for something that has been closed 10 years, especially since the balance doesn't go down.

Any ideas please feel free to write me by using the rebuttal box, as I'm formulating a letter to the company on a resolution to this matter and filing suit is definitely something that I would consider or would like to be included on.

Company: Direct Merchant Bank
Country: USA
Site: www.directmerchantbank.com

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