Do you wonder why the credit card rates are sky rocketing. Some might believe it’s because the government is regulating the banks come February. I thought that myself at first, but what if the big banks are projecting the economy is going to get worse.
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Ben Pavone told Bank of America in a letter last week that he refuses to pay off his credit card debt until the bank lowers his interest rate. And, he added, if they try to ruin his credit, he’ll sue ‘em.
“They’ve got to have some kind of obligation to not totally extort the public,” said Pavone.
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Get this… Now CHASE has jacked my rate!!! Are they stupid? You be the judge, as you watch Rockerchic actually call Chase bank and speak to “Minerva”, Chase Bank Customer Service Rep.
-Ann Minch : Debtors Revolt
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A Member Is Heard By Paaco
The credit market needs to be loosened up so that Americans can borrow, borrow & borrow. See we the taxpayers need to go into debt in order to help out the economy. It seems to me that much of this problem had to do with borrowing to much money and not being able to pay it back. Read the rest of this entry »
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On Oct. 9th, 2009, PHH Mortgage Company tried to foreclose on a home owner in White Plains, New York. This backfired however when PHH Mortgage failed to provide sufficient proof of ownership for the property in question in the Southern District federal bankruptcy court and Judge Robert D. Drain court ordered the $461,263 debt to be cleared! The homeowner now owns their house mortgage-free instead of loosing it.
