Will soon "miss" my first debt payment...

[cj0203]

Thanks guys. I feel better now

I never really thought about it as a business decision. But you are right, it IS. It's the only way my family will EVER get ahead (at least without winning the lotto, which I can't win because I don't play!). otherwise we are constantly playing catch up and always stressed out.

I am looking forward to getting a fresh start. Now if these next 60days would just hurry on by...

[HAP]

I don't blame you one bit. I have three accounts with BOA that have all gone up to some outrageous interest rate and we were basically paying $725/month on $28,000 of just BOA debt alone. Time to take our lives back, enough is enough!

[CindyLou]

I have been with BOA for almost 10 years. Four months ago I was late for second time in my whole account history. First time was my fault it was two days late and I pay online. Second time it was more than 15 days late and I think it was BOA's fault. I paid my CC online 3 days before it was due. I get a notice 2 weeks later I am late what? I have a printed and saved confirmation of the payment. I check my bank no transfer....what the??? I call BOA...am told I didn't make the payment. Sure I did I have proof. I am told the confirmation number means nothing and it must have been my bank that didn't honor the payment. You don't know?? I call my bank...no nothing from BOA for $XX.XX I call them back. I finally get transfered to the "online" dept. Give them my confirmation number and they look at the account. Tell me they payment is scheduled to post next month and thats how I set it up to pay it. I said no I didn't and they were like...we didn't pick the date. I said I picked the pay now option. All I got was tough. So I am told to make the payment effective right now (again) I do so and call back to have the late fees removed. I am told since I was late twice now I am at a 32.9% APR for 6 month and then they will review it. What the #$%....I didn't do it...now change it back to the 5.99% special rate on a $14K balance....they refuse and then tell me I am now over-limit with the late fee and interest due. Well in less than two month after that my BOA Business card was raised from 17.9% to 27.9% do to an account review. I decided this was the start of the domino effect. I cant pay those amounts now and will default here in the next 20 days. Screw em...I am not dealing with 108K in CC debt and having it all jump to 30% APR.

The same situation forced me into BK. I didn't have a late payment, but my interest rates were raised due to high balances. Then it was one card after another and before you know it I had 35,000+ at 30%+ APR plus all my other debts. I too, said enough is enough. I was doing fine with my lower interest rates, but could not keep up at the higher rates.

[MaxedOut]

The same situation forced me into BK. I didn't have a late payment, but my interest rates were raised due to high balances. Then it was one card after another and before you know it I had 35,000+ at 30%+ APR plus all my other debts. I too, said enough is enough. I was doing fine with my lower interest rates, but could not keep up at the higher rates.

Citi bank did the same thing to me I too have just recently missed my first payment. I looked yeasterday It was due on the 4th and they had raised my rate to 31.4% If I'm remembering right, and my payment was 410.00. Yesterday they send me notice my new statement is ready and of course now my payment is 691.00.

I would imagine they will start calling my job soon.