It Seems Awful and Mean-Spirited
Everyday, a respected newspaper exposes the frightening abuses of Predatory Lenders, a.k.a."Credit Predators". In today's Financial News, the Wall Street Journal Reports:
"Last week, Bank of America Corp, told some customers that interest rates on their credit cards will nearly double to about 14%."Bank of America Got $45 Billion In TARP FUNDS From The U.S. Government!
If you're a Bank of America Customer, on top of the extra income that you'll end up parting with (from TARP Bail-out taxes) , you can also expect, your interest rates to be raised by 14 percent, and extra fees of least $10, on nearly all credit-card transactions.
A Bank of America spokeswoman is purported to have said: To continue to lend in this current (economic) environment, "...we must adjust our pricing..."
Who Is Really Trying To Run A Scam On You?
Today, a Chase Customer commented on Credit Matters Blog:
"Got a surprise from Chase last week, they're now holding all payments for 7 days. No explanation as to why..."7 Alarming Fact's About Creditors
- Credit Card Companies and Banks "Creditors", have sold Debt to consumers (including you) in multi-media advertisements, on the phone and in writing.
- Creditors have used "Promotional" and "Teaser-Rates" on loans to lure American Consumers (like you) into miserable financial futures.
- Creditors have irresponsibly changed loan agreements at will, showing no regard for what harm may come to Consumers like you, or your needs.
- Creditors can, and are, raising rates by as much as 14% (as the Journal Reports).
- Creditors are imposing emotionally upsetting transaction fee's on Customers (and possibly you). Often with little disclosure.
- Don't forget about Creditors "holding" payments for days. Depending on the Creditor, you may end up having your payment "held" for up to 21 days.
- Every politician who has run for president has called out Creditors who engage in Predatory Lending.
Marie, a woman with superb credit, loaned her boyfriend $19,000, to get his Business started. One day Marie informed her boyfriend, that she didn't have "any more money to lend him" she was "maxed-out" on her cards. After that Marie's boyfriend started to resent being around her. She had financed his dream (or scheme) and now he was done with their relationship.
To say that Marie was disappointed would be too weak a statement; She was stuck with over $19,000 in Credit Card Debt, she had fallen for a dead-beat playboy, and he bolted on his promise to repay Marie back.
Marie was anxious to get over her bitterness over the situation and move on. She was stressed and a little embarrassed behind why she had so much debt. Marie was suffering trying to pay her new monthly minimum credit payment with Bank of America. One of Marie's cards had a minimum monthly payment of $900.
Feeling emotionally exhausted, and a little insecure as who to trust, Marie did what most people do. She drove down to her local Bank of America Branch Office. She told Bank of America the whole truth and the Bank closed her account.
Marie used a Promotional Rate Credit Card Offer. It was good for only 60 days. Marie's Promotional Rate had expired and her new 18% rate had kicked in. It was mean what her ex had done to her. Racking up debt in her name then double crossing her. I call what he did to her - a scam.
Why Did Marie Call Debt Warriors?
Because she had saw our videos, with her boyfriend, before they broke up. She knew we were telling the truth about what is really happening with Credit Predators. She had tried to do the responsible thing, with Bank of America and the Bank returned the favor by closing her account.
So What Happened With Marie and Why Should You Care?
I won't bore you will all of the details (although I'd love to). Last week Marie informed me that she got a 15% settlement (for herself and my help :) with Bank of America! She saved 85% of her Credit Card Debt with BofA!
How Can Debt Warriors Help You Save Yourself Up 85% Of Your Credit Card Debt?
We can do for you exactly what we've done for Marie and others. We teach you the secret key-words that every American Consumer must know to become debt free. We help you prevent debt from making you feel all panicky (like we did for Marie).
Debt Warriors provide debt reduction software and video Courses that teach you how to;
- Analyze,
- Budget,
- Negotiate,
- Settle
and - Eliminate your debt
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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt "Self-Help" video course, Personal Finance, and information products.
Thanks for stopping by THEWARONDEBT.NET
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