Advanta Bank Corp
Not able to pay card anymore after raising Interst from 7.9% to 38%, now they are suing me for non-payment

In March I got approved for an Advanta Bank Corp loan. As a small business owner I made sure that my payment was always paid on time and more than the minimum payment due.in August my interest was all of the sudden increased to 38% after being a nice low 7.9% lifetime interest. I had always been on time and thought that this was clearly a mistake on Advanta's behalf.

So I called the customer service phone # and got told what most of everyone else had been told that the interest raise was correct and that there would be nothing done to help me. I tried to explain to them as a small business owner that this would put a real hardship on my business and that I would not be able to make the payments that they were asking me to make now with the interest rate hike. My payment went from $325 to $2000 a month just on the minimum payment due.

Since all of this has happened I have been making an average payment of $675 to them and getting mutiple phone calls a day. Each time I answer them and tell the person on the other end of the line that I am doing all that I can due to there unethical business. I then get threatened by the person on the other end of the line telling me that I owe the debt and that it is my resposibility to pay it and that if I don't make the minimum payment due I will loose my house, cars, etc. I have also received multiple letter saying that there is going to be legal allegations towards me and my business if I don't take care of this matter.

I am at my wits end with Advanta Bank Corp. And would love to know how to make them stop the calls & threats. I am working on paying off the debt that I know my business owes, but in the mean time if anyone has any help or suggestions I would love to hear them.

There phone mutiple phone calls a day are interfering with my business and want to know if there is a way to make them stop.

Thanks!
Utah Small Business Owne

Company: Advanta Bank Corp
Country: USA
State: Utah
City: Salt Lake City
Address: PO BOX 30715
Phone: 8007057255

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