Posted on 09/09/2009 7:05:58 AM PDT by randita
A woman ticked off by Bank of America notice raising her interest rates to 30%. Great rant! This needs to go viral.
http://www.youtube.com/watch?v=jGC1mCS4OVo&eurl=http%3A%2F%2Fmarket-ticker.denninger.net%2F&feature=player_embedded
Please correct title to Debtors Revolt Begins Now.
Thanks.
begins?
They did this to my daughter. She’s working two jobs to try to pay if off. She was stupid enough to get into debt, however BOE just can’t change the rules in midstream.
Debtors revolt, being now, not tomorrow, is happening at this time.
oh i must see this.
I’d much rather see a taxpayer revolt.
Space aliens?...............
Uh, yes they can.
Better for her not to have gotten in bed with credit card companies; lesson learned.
Now that she and millions have, the rewards I and millions of others that pay on time earned are on the chopping block because the people that got themselves into trouble with credit cards whined and moaned to Congress....
I went to BOA to put $50 CASH into my daughter’s account and they wanted MY ID. New BOA rule - they need to verify I was there... I let her see my work ID - no DL for them.
Why isn’t the cash and a deposit slip enough?
It’s getting ridiculous.
Since she just got married, the account will be closed very soon!
not smart....B of A is just playing into the hands of the Bam Administration that is looking for more ways to regulate and seize the economy (and which many will applaud)
re: your complaint that ID was wanted to make a deposit to someone else’s credit card/bank account?
Because scammers will try to make a small deposit to accounts to verify it IS STILL OPEN and a good credit card number to commit FRAUD WITH!!!!!!!
SHEESE........Some people.
The only revolt I can support is to pay off your debt, cut up your card and fire your bank.
what does this woman think of high taxes?
Let's see. Most credit cards are issued by banks. All banks enjoy certain monopoly benefits of being banks: they can create money out of thin air. In addition many banks have receieved huge taxpayer handouts, particularly some of the largest credit card issuers. Given this I believe that the industry needs to be regulated, perhaps more than most. The reason to grant banks the monopoly they have is not to make bankers rich, it is to make society work. 30% interest rates are not in societies best interest. For years, until bankers lobbied to have them repealed, many states had usury laws. In Connecticut until about 1982 no financial institution could charge more than 12% interest on a credit card. The banks seemed to be doing just fine, despite this restriction. When I was a kid 30% interest was associated with the mob. Now it's associated with JP Morgan Chase. Oh, I see I'm repeating myself.
If we can launch on the Banks ... Isn’t BOA “owned” via Tarp,etc?
A 2 front war .. no problem... Thanks to the Great OBAMA, my position is such.. it will be just as easy to deprive 2 fronts economically. I can carry 2 signs, or I can appear at 2 different protests...
And get out and STAY OUT OF DEBT.
I am sure all the Freepers on this board would love to see how see racked up this debt. I am positive you will see alot of silliness - dinners, trips, nail salons, LCD TVs, etc.
Be an adult. You charged the debt on an unsecured line of credit. Pay it off. Next time know the crooks you are dealing with. Pay off your debts. Stay out of debt. Live below your means.
Ping to CSM for the Dave Ramsey list.
Get another credit card and transfer the balance from her old card.
Always read and understand the fine print. If it’s too fine, complicated or both, get someone to read and interpret it for you. If you have to borrow money, you do it at the terms of the person or business that has the money,even if it’s TARP money they are lending back to you. Just because they have TARP money, doesn’t mean they aren’t following some very strict terms laid out by the government. When you go into debt, you give up some freedom. How much freedom depends on how much debt. If it gets so bad you end up committing fraud, you go to jail.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.