Fiscal civil disobedience

[kinvore.livejournal.com]

She's mad as hell, and she's not gonna pay it anymore!

"Video: Putin flies with rare cranes in an ultralight" (Watch on YouTube)

After years of being a good customer and paying her bills (with supposedly good credit), one Bank of America customer has had enough. Since receiving bailout money BoA has more than doubled her interest rate and ignored her attempts at negotiating it back to a more reasonable amount.

I applaud her decision and I hope enough follow her example to the point that BoA has no choice but to reconsider their actions. You can only screw over people so much before they finally snap. A lot of people out there don't have much to lose.

Comments

[kinvore.livejournal.com]

It's gotten some but not nearly enough.

[soliloquy76.livejournal.com]

Hell hath no fury...

[allisnow.livejournal.com]

About 8 months ago, Capital One jacked up my interest rate for no reason. I have great credit and usually pay off my balance every month. I wrote them an annoyed email and was told, "Well if you don't like it, cancel your card." Well, I was in the process of buying a house and didn't want my card-closure to effect it (as I've read it can, because it ups your debt-to-credit ratio), so since then I just keep the card open and don't use it. Capital One has called several times and is always sending me things in the mail about my rewards program and how wonderful it is. I don't care. Until they decide to close my account because of inactivity (I have a Chase card now with a nice low rate) they can eat it.

Anyway, good for this woman. I agree that a lot of people don't have a lot to lose right now and if they're going to go down, they might as well do it fighting. Nice to see someone taking a stand and doing it in a fairly classy way.

[kko.livejournal.com]

you know... osama bin laden had a big problem with america's acceptance of usury. do you really want the terrorists to win?

[kinvore.livejournal.com]

Every time you don't pay your credit card bill, a puppy gets stabbed in the head.

[lordtwinkie.livejournal.com]

i'd bend her over.

[mahnmut.livejournal.com]

Yuck!

[kinvore.livejournal.com]

BoA may have a job for you then, sir!

[merig00.livejournal.com]

So she has nothing to back up the loans with? Even though 30% APR is way too excessive. What did she think her rates will go to when bank has less chance to see the money being paid back.

[reflaxion.livejournal.com]

I must be confused. I thought the video was about credit card debt, which is never backed up by anything but a FICO score.

[lafinjack.livejournal.com]

They'll just say "well, this is all we could manage with the bailouts. If we hadn't gotten the bailouts, we would have just gone out of business and her debt would have been sold to someone else who would have done the same thing she's experiencing now."

[kinvore.livejournal.com]

Maybe, but anyone that raises the interest on a good customer for no reason is being stupid and deserves to see that account go into default.

[weswilson]

My wife has flawless credit.

Amex raised her rate and dropped available credit to what we currently had out as the banks started to collapse. We've gotten no love since.

[redheadrat.livejournal.com]

awww... how cute

Credit cards are short term revolving debt instruments, sometimes they will have add-ons that specify a fixed rate for a period of time. Not having the ability to pay-off current credit card debt is irresponsible at least.

[dwer.livejournal.com]

so she pays every month, sometimes even over the minimum payment, and they jack up her rates to 30%, and SHE's the irresponsible one?

Uh-huh.

[vnsplshr.livejournal.com]

She signed agreements allowing BoA to mess with her.

Doom on her.

[prock.livejournal.com]

Exactly, she is under no obligation to pay.

Civil Disobedience?

[sophia-sadek.livejournal.com]

Civil disobedience is when people refuse to obey the government. It won't be civil disobedience until she refuses to allow the Sheriff to evict her.

I applaud people who default on their credit cards. They should never have participated in the consumer credit system to begin with. By defaulting, they are finally stepping away from the system.

Re: Civil Disobedience?

[kinvore.livejournal.com]

Civil disobedience is when people refuse to obey the government.
And/or the law, in this case refusing to stay with a bad contract, one that gives way too much power to one side.

[reality-hammer.livejournal.com]

She would do better by protecting herself legally by declaring selective bankruptcy.

Telling off the bank will make you feel good but filing the proper paperwork in the courts prevents the bank from doing things like garnishing your wages and seizing your tax refunds in the future.

[404.livejournal.com]

Wouldn't it be easier to pay off her BoA cc and be done with them? or is this just an attempt to grab attention?

Also, according to Wikipedia: Civil disobedience is the active refusal to obey certain laws, demands and commands of a government, or of an occupying power, without resorting to physical violence. It is one of the primary tactics of nonviolent resistance. In its most nonviolent form (in India, known as ahimsa or satyagraha) it could be said that it is compassion in the form of respectful disagreement.

I don't see how not paying a bill would be designated as civil disobedience.

[kinvore.livejournal.com]

Yes everyone's playing semantics with the definition of civil disobedience, completely ignoring the "fiscal". This is a concept that hasn't been named yet, it's just a name that I have offered for it.

[404.livejournal.com]

CCs across the board have been tightening credit, and raising interest rates She seems to have a nice house, given what is behind her. I have never been a fan of model cars, but to each their own.