Complaint Review: First Consumers National Bank

I too have been a victom of FCNB; after receiving their notice of bancrupty, I continued to make regular monthly payments plus extra to clear my debt. In November of 2003 I was involved in a head on auto accident that was not my fault. I was and still am totally disabled. I contacted FCNB to alert them of my disability, I thought I had disability insurance.

I found that when my account was canceled (by the company going bancrupt) so was my disability insurance. The person that hit me carried only GA minimum insurance so I was sunk!!

Long story short, I fell behind in payments. My balance was only $500 at that time; I had a $3500 limit. After trying to call several times with no results, I too was told my account did not exist, I received a collection letter. My account had grown with late fees. I tried contacting the collection agency which simply told what I already knew; It was my debt and I had to pay no matter what my circumstances were at present.

I received a partial settlement payment in April 2004 and called to pay off my balance. It had grown to $1,200 with late fees and membership(renewal?)fees. I questioned the balance stating the fact that I had been disabled since November 2003.

After leaving me on hold for at least 5 minutes, the rep returns and tells me that since I was honest with them each month about my disability, FCNB would forgive $663.54. WOW!! I took the hook (line & sinker, too) and paid off the remaining balance. They even forgave the phone pay fee!! WOW!! I thought now here is an honorable company!

That is what I thought until I received a "Cancellation of Debt" form to file with my taxes!! Yep, they sent me the form to file their inforced late fees and charges as income on my 2004 tax return.

Please if anyone has received information on a class action lawsuit, post it here where we all can get some justice!!

Linda
menlo, Georgia
U.S.A.