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years ago my ex gf ran up my credit card to buy horse riding stuff. I honestly had no idea because she activated the card by calling in. it was an HSBC card that came with a best buy credit card. Anyway, it wasnt until months later I finally answered the phone and they were willing to settle for 20% of what was owed. Long story short, I got the money from my ex and paid off the debt but it remained on my credit history for 7 years 90+ days late but just recently dropped off.
my friend called me this week and told me some fucked up news with his BofA credit card. His credit limit and credit used was about 90% and called the bank and said "I lost my job and I want to work a deal" but they declined. He even wrote a letter and got a response back saying they already offered him 12 months no interest. Anyway, that was months ago but he told me that he got a letter in the mail saying that BofA has CLOSED his account. When he called they would not give him a reason why, but he told me hes going to see if they will work a deal if he is a month or two late.
thats pretty fucked up imo, but I guess they can flag people who look like a threat that are not going to pay their bill so they limit their spending
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