CC Sharks Pleas for money

[DaisysMom]

I quit paying some of the cards last month. The rest will will be stopped this month. One of the January cards just called me and told me that if I don't pay within two weeks, they can raise my interest rate to 41%. That is outrageous!!

Of course I am not paying, plus I am filing in a few months. As soon as I give my attorney his retainer, I will tell them about the BK and I can direct all of these calls to him. But in the mean time I am answering the calls so they do not contact relatives and neighbors looking for me.

But to think that they can jack up interest to 41% just blows my mind.

I feel bad for the folks who are caught like I am, but don't know how-to or want-to or can't for some reason....explore BK. What will they do when confronted with sharks like this?

D...

[DisneyGirl]

My dislike for CC companies grows every day. Best of luck on your filing, I hope all goes smoothly for you.

[jribe]

isn't that awful? I really don't see how they're allowed to do stuff like that! For instance, my husband has had BOA for over 8 years- never missed a payment, and until very recently we paid off his cc balance in full every month. I looked at last years payments- over 20k! And we started having a little difficulty so a few months backed we started just paying about $100 over the minimum payments.

They then raised his rate from 10% to 25%! That literally just pushed us over the edge. The payment went from $150-$200 to almost $600 for the minimums. Now we can't wait to file BK on them... Some of these places are just really awful.

Then they wonder why the delinquency rates are going up... Wonder if it has anything to do with this tough economy and people barely scraping by- then raising their rates 20%. The nerve!

QUOTE=DaisysMom;241090]I quit paying some of the cards last month. The rest will will be stopped this month. One of the January cards just called me and told me that if I don't pay within two weeks, they can raise my interest rate to 41%. That is outrageous!!

Of course I am not paying, plus I am filing in a few months. As soon as I give my attorney his retainer, I will tell them about the BK and I can direct all of these calls to him. But in the mean time I am answering the calls so they do not contact relatives and neighbors looking for me.

But to think that they can jack up interest to 41% just blows my mind.

I feel bad for the folks who are caught like I am, but don't know how-to or want-to or can't for some reason....explore BK. What will they do when confronted with sharks like this?

D...[/QUOTE]

[DaisysMom]

Associated Press: "After a marathon negotiating session, the Bush administration agreed early Friday to provide Bank of America with an additional $20 billion in support from the government's $700 billion financial rescue fund.

Bank of America Corp. already had been granted $25 billion from the bailout fund that Congress passed on Oct. 3, but found it needed more as it sought to cope with rising losses related to its acquisition of Merrill Lynch."

I really don't think anyone that is making these decisions really knows what's going on with the common everyday citizen. How BoA is screwing us over. Either that, or they just don't care. Help for the little guy is just turning out to be lip service while they stab us in the back. But don't forget....their execs can't make over $500K....big sacrifice for them. What a joke!!!

I can't wait to get this BK over and start my life anew as CASH ONLY.

D...