Comments on: A Misguided Stand http://www.askmrcreditcard.com/creditcardblog/a-misguided-stand/ Latest Credit Card News, Reviews and Information Thu, 09 Feb 2012 07:48:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Paula at CreditLaw.com http://www.askmrcreditcard.com/creditcardblog/a-misguided-stand/comment-page-1/#comment-118910 Paula at CreditLaw.com Sun, 20 Sep 2009 15:03:13 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=8205#comment-118910 Jason, I enjoyed your post; you've approached the problem in a constructive (vs. destructive) manner. As you suggested: Who is this woman really hurting by refusing to pay money that she legally owes? CreditLaw.com, has posted a response to this video on their blog. Similar to you, the post highlights some simple steps that Ann (or anyone) can take to resolve the situation, walk away and essentially give BofA the finger... Without sacrificing her personal financial future. If you're interested you can find it here: http://www.creditlaw.com/blog Thanks, Paula Jason,

I enjoyed your post; you’ve approached the problem in a constructive (vs. destructive) manner.

As you suggested: Who is this woman really hurting by refusing to pay money that she legally owes?

CreditLaw.com, has posted a response to this video on their blog. Similar to you, the post highlights some simple steps that Ann (or anyone) can take to resolve the situation, walk away and essentially give BofA the finger…

Without sacrificing her personal financial future.

If you’re interested you can find it here: http://www.creditlaw.com/blog

Thanks,

Paula

]]> By: Shaun Carter http://www.askmrcreditcard.com/creditcardblog/a-misguided-stand/comment-page-1/#comment-118571 Shaun Carter Wed, 16 Sep 2009 19:40:08 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=8205#comment-118571 I disagree with this on a few points, while I do agree that her decision is quite pathetic because the bank will definitely not come to her aid now as it will result in a deluge of similar youtube videos when people think they can get results in that fashion. She should not take that money out of the bank to pay off the card, it is her emergency fund which she should be using to live on until she finds herself another job. You are exactly right that a balance transfer would not work because she has no income, so no credit card company is going to approve her for a new LOC with a 0% BT. I have also been a victim of this rate game the banks are playing and I don't think it is fair under any circumstances. I have seen rates go from 8.9% to over 22% and I have NEVER made a late payment or violated any other part of the cardmember agreement. The craziest thing is that these new 20+% rates are tied to Prime, which will be going up significantly when the fed is forced to raise rates to fend off inflation, meaning interest rates on credit cards will likely soar another 5 percentage points over the next couple of years. I disagree with this on a few points, while I do agree that her decision is quite pathetic because the bank will definitely not come to her aid now as it will result in a deluge of similar youtube videos when people think they can get results in that fashion.

She should not take that money out of the bank to pay off the card, it is her emergency fund which she should be using to live on until she finds herself another job. You are exactly right that a balance transfer would not work because she has no income, so no credit card company is going to approve her for a new LOC with a 0% BT.

I have also been a victim of this rate game the banks are playing and I don’t think it is fair under any circumstances. I have seen rates go from 8.9% to over 22% and I have NEVER made a late payment or violated any other part of the cardmember agreement. The craziest thing is that these new 20+% rates are tied to Prime, which will be going up significantly when the fed is forced to raise rates to fend off inflation, meaning interest rates on credit cards will likely soar another 5 percentage points over the next couple of years.

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