Have the credit card companies ‘jacked-up’ your rates, doubling your payments?
Put you in 'rate-hike' hell...and really stuck it to you and your family?
And now your screwed...right?
Who can pay payments that have DOUBLED?
The answer is: "No one!"
What are you going to do? You can’t just ask your boss for a raise because you need more money...can you?.
So, you have to try to pay with what you have...right?
The problem is that every dollar you pay is a dollar you steal from your family.
And...to make things worse...
Have they lowered your credit limits, putting you “over limit” for no fault of your own, so now they can soak you for outrageous “over the limit” fees? THAT'S NOT RIGHT.
And, these are on top of the already outrageous “late payment” fees. THAT'S NOT RIGHT.
All tactics designed to gouge out of you as much money as possible. THAT'S NOT RIGHT.
What’s fair or right about that?
And...adding insult to injury...have they changed your credit card from a “fixed rate” to an “adjustable rate”? THAT'S NOT RIGHT, EITHER.
In fact...none of it is right, or fair, or even honest.
What they did to you might be 'legal' and they might be able to get away with it under the law, but just because something’s legal, don’t make it right.
In other words...Just because you can...doesn’t mean you should.
But they did it anyway. It’s like the banks are telling you “Screw you. We want more money. We can do it to you. And you just need to shut up and keep paying.”
Angry? You should be. In fact...real angry.
The only good news is that you are not alone. They have done it to millions, if not tens of millions, of good, hard working Americans. But as much as misery loves company, you're still stuck with the increased payments to pay...and all by your lonesome,
...unless you do something about it.
The only question is “What are you gonna do about it?”
Down below, you'll see the battle plan, but first, you have to be asking:
"I don't understand. Why? Why would they do this to me?
I can tell you. The answer is GREED.
Greed....to make as much money off the sweat of your brow and the back of your family as possible...while they still can.
And, that's the key: "While they can."
You see...Congress passed a new Credit Card Reform Bill of 2009. This bill was intended...so they say...to ‘rein in’ the credit card companies, that is, the big banks who issue credit cards to tens of millions of Americans.
For decades, the big banks had been suckering us Americans with the lure of easy credit, full well knowing that we would get in debt and stay there...good news for banks who live off of interest and fees, and all the more so as they more and more jacked up the interest rates, shortened the grace periods, and made a fortune charging higher and higher extortion-level “over limit” and “late payment” fees.
And, everything was working just fine...like the banks planned...until they completely screwed up the financial market and forced Congress to spend our money on huge “bailouts”.
All of a sudden, the banks were in trouble and some Congressmen saw this as a one-time opportunity to try to clamp down on the nasty credit card tactics, a chance to put a stop to some of the now well-known and abusive credit card company shenanigans. As a result, a credit card reform bill was passed and signed into law.
On its face, the credit card reform bill looked great. For example, there are provisions to make it illegal to change your interest rate on existing balances.
Sounds good...right? Wrong!
Long before the bill ever went to the President for signature, it was stuffed full of holes...err...you know...‘loopholes’.
The biggest loophole lies in the fact that the bill does not even go into effect until 2/22/10. This delay provided the big banks more than enough time to do all sorts of things to sidestep the new bill, to protect themselves and to make even more money. In effect, the big banks have turned the credit card reform bill into nothing but a big joke.
One of the things they did was...across the board...to jack up everybody’s interest rates.
What went wrong? What happened to the credit card reform bill? How did it get full of holes in favor of the big banks it was meant to rein in?
Easy. The banks were able to exert enough influence to get a number of key provisions taken out of the bill and others changed, including the date when the bill would go into effect...2/22/10.
Are you surprised? Don’t be.
The truth is that the big banks have been in control of this country since the Constitutional Convention, when America first became America. They were in control, they are still in control, and they will always be in control. And, being in control, they are, in effect, also in control of Congress.
Unfortunately, the vast majority of Congressmen need bank contributions (read “money”) to pay for election campaigns. But there’s a price to pay for this money. And, that’s where the golden rule comes in: The banks are the guys with the gold and the guys with the gold get to make the rules. The banks have the money the Congressmen need.
And, just to make sure they are heard, big banks spend a ton of money on lobbyists to try to bully some Congressmen, and brainwash others. And that’s just the tip of the iceberg in terms of the influence that banks have over Congress.
The price to pay is that the banks get to help write the rules (read “new laws”)...or in this case...the credit card reform bill.
At the same time, this time around, the big banks knew they had screwed up the entire financial market, and so much so that it forced Congress to spend OUR money to bail them out. But, they also knew that the bailouts were not popular at all with the voting public. And they knew that most Congressmen would be feeling the heat from the bailouts and that, as a result, these Congressmen would be feeling the need to at least put up a showing that the banks were being punished. Not doing so, the big banks knew, these Congressmen would suffer the wrath of the public in the next election.
So...the big banks knew...something had to give, that there would be a price to pay for the bailouts, and part of the price came in terms of the new credit card reform bill.
Or so it would appear to the public. Unfortunately, appearances don’t necessarily reflect reality, and that is exactly what happened to the credit card reform bill.
Even with all the problems the banks had caused to our economy, the big banks still, in effect, had massive amounts of influence over Congress. And, controlling Congress meant that the big banks could get things changed in the proposed credit card reform bill. And, so it came to pass, and the banks got most, if not all, of what they wanted, a bill so watered down with loopholes that it was, in effect, turned into nothing but a joke on the public.
Basically, as it turns out, the new credit card reform bill is just another SCAM by the big banks.
In effect, a lot of the current credit card reform bill was written by the same big banks it was meant to rein in.
Congressmen and the banks both got what they wanted. Congress got to look like it did something to punish the banks, and the banks got a bill that they would work around.
Depressing? Disappointing? Frustrating? I agree.
With the major provisions of the bill delayed until 2/22/10, the big banks got busy changing things necessary to completely sidestep the bill.
And, that’s were the rate hikes, lower credit limits and adjustable rate credit cards come in.
The banks knew that, under the new law, they wouldn’t be allowed to so easily change things in the future regarding credit cards. But, nothing in the bill kept them from doing it now, before 2/22/10, and being the big banks they are, that is exactly what they did...to you and to me.
First, they jacked up your credit card interest rates. Then, they lowered your credit limits, and then, they did other things like changing your credit card contract from “fixed rate” to “adjustable rate”.
The net effect: Passage of the credit card reform bill, instead of helping you, actually hurt you...and hurt you bad.
The upshot was that millions of good, hard working Americans, just like you, quickly received notices jacking up their rates, lowering their credit limits and changing their credit card contracts from “fixed” to “adjustable rates”.
The real bottom line is that if you were just staying afloat before...and just making ends meet...now you were screwed.
Who can have their payments doubled and survive?
What always gets me though....is why so many Americans just sit there and take it?
I am always asking myself: “Why are people not more pissed off? Why isn't everybody angry at the banks?”
Is it because people feel helpless against the giant bank? I can understand that. Most of us aren't bankers and we don’t know what to do or if there is anything we can do.
Is it because what the banks are doing is allowed under the contract you signed with them? I don’t know if you have ever looked closely at a credit card agreement, but it you have, you know that it is long and complicated and full of good stuff to let the banks do just about anything it wants to pull the rug right out from under us.
Is it because the things the banks are doing to us aren't illegal? I would hope not because where I come from, just because you can get away with it, don’t mean it’s right. And, there ain’t nothing ‘right’ about jacking up interest rates, doubling payments, and screwing families.
Or is it because, as Americans, we have gotten so far removed from having to fight for our rights, so tame and domesticated that we don’t even have any fight in us? Instead, like the tame and domesticated farm animals we have become, we depend on a Congress and our President to fix things and protect us. How is that working out for you and your family? As Americans, we have been acting like cows being lead to slaughter.
This has got to stop! You agree?
Whatever the reason is, what the banks have done is NOT RIGHT, and the bottom line is this:
What are you going to do about it?
If you answer is “nothing”, you can stop reading right here, right now.
But, if you are as pissed off as I am, and have had enough, and need to make sure your family survives no matter how bad things get (and things will get worse before they get better), and want to fight back,....read on.
The truth is that with 'jacked-up' rates and doubled payments, many of us will have no choice. We will either be forced to do something positive, maybe even radical, or we will see our families suffer and submerge.
Let’s face it. We only have so many dollars and every dollar we send to the credit card companies is a dollar we can’t spend on our families, a dollar that comes right out of the mouth of our kids.
I don’t know about you, but that is not what I intend for my family...and it just pisses me off to think that the credit card companies (that is...the big banks) expect...and even count it...that they can get away with it.
How about you? What do you think? Or, is it just me that thinks all of this is not only wrong...but DEAD WRONG?
As it is, our grandchildren’s, grandchildren will still be paying for the bank “bailouts” forced on us by Congress, and now... to make things worse... the banks are throwing salt in our wounds by jacking-up rates and screwing with us.
I don’t now about you, but I sure as hell don’t intend to just sick back and take it in the face when the credit card companies treat me and you this way. I don't care is what they are doing is 'legal'. You don't treat people this way.
And, to make it worse, the banks aren’t even honest with us. Instead of telling us the truth, they trump up this and that to justify screwing us. And even when we didn’t do anything wrong, they make up stuff, for example, referring to defaults or late payments that never happened.
It makes me sick and it makes me angry. Is it just me, or are you angry too?
Why don’t they just tell it like it is? If they did, it would likely sound a lot like this:
“We are in the business of making money. That’s why we exist. That’s what it’s all about. That’s all there is to it. Nothing personal, but we’re in it for the money, and we always have been.
We don’t care about you. We never did. If, on occasion we come across like we do care, we’re only pretending, either because we know that being nice to you will keep you paying or because being nice to you is in our best interest, not yours.
In fact, you are so brainwashed by your moral upbringing that you go on expecting us to act differently. You just never get it. Being fair or just or helpful or honest or putting your best interest first is just not our nature as a bank.
On top of that, you signed a contract with us that lets us do whatever we want to you. In effect, the contract is only binding on you. The truth is that it’s a joke that it’s even called a contract. A true contract would assume that both sides had a hand in coming up with the terms. Instead, it should just be called “Our Rules”. Yeah, the golden rule: We have the gold, so we make the rules.
And, under that contract, we have the right to do anything we want, including raising your rates and screwing you in ways you can’t even imagine.
And, we do it because it makes us more money. Did we mention that it’s all about money, money and more money? It doesn’t matter. We can say it’s all about money and you still don’t get it. You still think our relationship is about honesty and fair dealing. It not. It’s about money, taking your money and giving it to us.
Furthermore, experience has shown us that we can treat you as badly as we want and get away with it every time. To us, you are not human beings or families. You are just numbers and profit. And, since you are just numbers and profit, we can screw you and still sleep at night, just fine. In fact, those of us who make the big decisions don’t even live in your communities, and even if we did, you don’t know who we are. And you think that just because we have people working in your community, that makes a difference. It doesn’t. They do what we tell them. Sure, part of what we tell them is to be nice to your face, but we don’t mean it. We just say it because we make money off of you, lots of it.
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* You must be a resident of North Carolina. We have offices in Raleigh, Durham, Fayetteville, Wilson, Greensboro, Garner or Wilmington.
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