Complaint Review: Direct Merchant's Bank

I was reading the reports on Direct Merchant's Bank, and I realized they have done exactly the same thing to me. I signed up for debt consolidation in July 2002.

They wouldn't work with the consolidation company at all at first. I had to threaten them with bankruptcy before they would cooperate, then they lowered my APR to 5% for about 2 months, claimed I missed a payment in February 2003, and took themselves off of the consolidation plan.

Not to mention that before I went into consolidation, (because of them in the first place) they would call me every month the first of 2002, up until July, claiming I was over the limit and if I paid them 300.00 it would get my account back under the limit and if I paid them over the phone, there wouldn't be any more charges, and so I would, and then they would call me within 2 weeks and tell me I was over the limit again and needed to send them 300.00 more dollars. I Paid them over 1000.00 in three months last year, I have been losing sleep over what to do about this company, and how to pay back what I owe.

I see no way to pay this back with their accounting practices. This company makes all other credit card companies look really bad.

The real bad thing is, I never applied for this credit card. Someone from their company called wanting me to give them personal information over the phone, like my ss#, and I wouldn't do it, I told them to send an application and I would look it over, and the man whined and said that they had sent many applications and I hadn't sent them back.

So, they sent the card instead. Now, I wish I had sent the card back.

Regina
Manila, Arkansas
U.S.A.