Your Credit Card and Your Bank (Pittston: for sale, apartments, insurance)

[PITTSTON2SARASOTA]

How does everyone feel about "the banks" changing your terms; such as interest rate, credit limit etc.,after we bail them out. I think, after they recover,we should make banks pay the taxpayers back under their own credit terms. And I give them a high risk assesment, therefore a default rate...at least 20% interest. If it's good for the goose than it is good for the gander.

[W-B proud]

I think it is another outrage, in a long list of outrages'. I wish everyone in American would, for one year, stop paying thier credit card bills, and thier taxes, just to teach these weasles a lesson! If all of us just stopped paying our credit card bills at the same time, and demanded that this non sense stops, then what can they do? They would be at our mercy, but most people are brain washed SHEEPLE and just do what they are told. People really need to organize and stop paying these crazy fees and taxes TOGETHER AS ONE, but that is the key, to get everyone organized, and get everyone to actually have the guts to do it, and really follow through with it!

[CHS89]

Looking forward to buying your furniture at the sherriff's sale after you stop paying your taxes and credit cards. Do you have a futon? Is it nice?

[roxxy38]

Originally Posted by PITTSTON2SARASOTA

How does everyone feel about "the banks" changing your terms; such as interest rate, credit limit etc.,after we bail them out. I think, after they recover,we should make banks pay the taxpayers back under their own credit terms. And I give them a high risk assesment, therefore a default rate...at least 20% interest. If it's good for the goose than it is good for the gander.

One of my credit card companies changed their rates, I was outraged for the same reasons as you. I called another company, did a payoff with 1.99 % interest for a year and paid off the other card. The part that makes me really mad is...if I close the original credit card I will lose 40 points on my credit score. What a crock that is.

They also raised the score for excellent credit from 730 to 780 (or thereabouts). So now its harder to get a mortgage or other loan. Thats another problem for people with good credit. They (the banks) should of thought about that when they were giving credit to people that claimed bankruptsy and had bad credit. People that couldnt afford homes, cars and whatnot were getting any kind of loan. Now with just good credit they wont do anything for the consumer. It really is not fair for the person that plays by the rules and pays his bills. Its all just a bunch of crap. I wish I was more like my parents and grandparents, they paid for everything in cash!!!!

[mathjak107]

well i think they have been ripping consumers for a long time but they are going into extra protection mode....most people who defaulted on their homes or had short sales have kept paying their credit cards...they need them and they need to have decent credit to get an apartment....the credit card companies know once they get apartments they probley will not get paid either..

like all insurance the good payors have to make up for the poor payors and i guess the best thing for everyone to do is ween yourself off of living off credit..... its okay to charge but dont buy what you cant pay for just like the old days

[greentown]

I don't agree with banks just arbitrarily changing interest rates and fees in the middle of the loan period, but if you took out the loan and you charged a bunch of stuff on your credit card, then you should pay for it. If you don't understand the terms of a loan or credit card, then get someone to help you before you sign on the dotted line.

We pay off our credit cards every month, and now it seems like under these new terms, we'll be the ones stuck paying more to make up for the deadbeats that live off of credit and have no hope of ever paying their debt. Thanks Obama! More hope and change!

[go phillies]

Originally Posted by CHS89

Looking forward to buying your furniture at the sherriff's sale after you stop paying your taxes and credit cards. Do you have a futon? Is it nice?

How could someone's furniture be for sale at a sherriff's sale? Sure if you don't pay your taxes, they can take your house, but not your furniture, and they sure as hell can't take any of your belongings for not paying a credit card. If you don't pay a credit card, the most they can do is ruin your credit rating, but the banks are stuck with the bill.

[NYRangers 2008]

Originally Posted by go phillies

How could someone's furniture be for sale at a sherriff's sale? Sure if you don't pay your taxes, they can take your house, but not your furniture, and they sure as hell can't take any of your belongings for not paying a credit card. If you don't pay a credit card, the most they can do is ruin your credit rating, but the banks are stuck with the bill.

That is correct. If you have a car loan, they can repo your car. If you have a house with a mortgage, they can put that up for sheriff sale if you don't pay. I also never heard of a credit car company seizing personal possessions that you put on that card if you didn't pay it. Never happens.

[mathjak107]

yes and no, credit cards are un-secured and cant lay claim to anything except suing you....but thats not to say the judge cant award a judgement forcing your check to be garnished or putting you in the position that you have to sell some possessions to satisfy the judgement so your wages arent garnished

[NYRangers 2008]

Originally Posted by mathjak107

yes and no, credit cards are un-secured and cant lay claim to anything except suing you....but thats not to say the judge cant award a judgement forcing your check to be garnished or putting you in the position that you have to sell some possessions to satisfy the judgement so your wages arent garnished

Yes, that could happen, but in most cases doesn't. We were just saying in general cases that credit card companies can't take your possessions directly.