Help requested. Child in debt.

[Neubarth]

Help requested. Child in debt.
--------------------------------------------------------------------------------
One of the children that I raised, Heather (last saw her about seven years ago. One of 32 foster children that I raised) has called me in tears and wants to know what to do. She went on through college and just graduated, but in the middle of her senior year, her grants were cut and she finished up her senior year living on a credit card. She was paying 9% interest originally.

The credit card company raised her interest rate to 29% when she reached the maximum on the card. She explained her situation and said that as soon as she landed a job, she would pay off the credit card. So far she does not have a job and they are harassing her with twenty to thirty calls a day, trying to run up her cellphone bill. They are sons of bitches from hell and need to be punished.

Now, I feel like going down to their office with a shotgun and just blowing the shit out of the place, but something tells me that is illegal, so I am asking, what can I do to stop the harassment calls? What can she do to get the compounded interest off of her card? If you tell me nothing can be done, watch your newspapers because I am going to have a damn good time in downtown San Diego in a day or two. No young child deserves to be treated like she has.

What can she legally do to get out from this situation? The credit card company is trying to take advantage of her and rip her off because she is in a difficult situation. That is total crap! Is there an agency that is non profit that she can turn to?

I do not want to send her to some company that will just try to rip her off as well. I don't want to have to shoot up two offices, but will if I get really ticked off.

What can I tell her? Who can she turn to?

This kind of shit has got to stop.

 

[CrimsonWhite]

Unfortunately, the only thing that you can do is pay the card off. After all, she spent their money. Now they want it back.

 

[Nik]

Consumerist - How To Protect Yourself Against Aggressive Debt Collectors - Ftc

There are federal laws limiting what debt collectors can do.

 

[editec]

She can declare bankruptsy and the credit cards will likely be discharged.

Her student loans, however, are not going to be discharged.

So she borrowed at 9% and now the debts are being computed at 29%, eh?

Must be nice to be a credit card company in a nation where such criminal things are perfectly legal.

So screwing those credit card companies, is not only moral, but paying them back is actually immoral as far as I can tell.

Credit card caompanies are parasites, folks.

Oh I know they used to be something useful to the people of this nation, because I used to have those cards before they became what they are today.

But what they are now, thanks to them having bought the souls of our Congress-critters, is nothing but parasites.

Tell you daughter to screw them to the best of her ability, not merely for herself, but as a blow for freedom and justice for all of us.

As you can probably tell, I am not a big fan of these criminals with a license to steal.

 

[plt42]

What can I tell her? Who can she turn to?

This kind of shit has got to stop.

About all she can do now is make the minimum payments and eat that high interest rate. It's important to her credit history and rating.

Once she gets a job ( or two ) and establishes a bank account, she may be able to get a bank loan to pay off the cc at a much lower interest rate.

I wish her the best of luck. And for God's sake... tell her not to answer her phone!

 

[Dis]

Help requested. Child in debt.
--------------------------------------------------------------------------------
One of the children that I raised, Heather (last saw her about seven years ago. One of 32 foster children that I raised) has called me in tears and wants to know what to do. She went on through college and just graduated, but in the middle of her senior year, her grants were cut and she finished up her senior year living on a credit card. She was paying 9% interest originally.

The credit card company raised her interest rate to 29% when she reached the maximum on the card. She explained her situation and said that as soon as she landed a job, she would pay off the credit card. So far she does not have a job and they are harassing her with twenty to thirty calls a day, trying to run up her cellphone bill. They are sons of bitches from hell and need to be punished.

Now, I feel like going down to their office with a shotgun and just blowing the shit out of the place, but something tells me that is illegal, so I am asking, what can I do to stop the harassment calls? What can she do to get the compounded interest off of her card? If you tell me nothing can be done, watch your newspapers because I am going to have a damn good time in downtown San Diego in a day or two. No young child deserves to be treated like she has.

What can she legally do to get out from this situation? The credit card company is trying to take advantage of her and rip her off because she is in a difficult situation. That is total crap! Is there an agency that is non profit that she can turn to?

I do not want to send her to some company that will just try to rip her off as well. I don't want to have to shoot up two offices, but will if I get really ticked off.

What can I tell her? Who can she turn to?

This kind of shit has got to stop.

That's probably not something you want to threaten around here...

That said, she racked up the CC debt, and now the CC company wants their money back. If her funding for school was "suddenly" cut, and her interest rate was "suddenly" raised, you might want to look into why. That doesn't change the fact that she spent the money, and now has to pay it back. Might as well buckle down and do just that. If they're calling her for their money 20 times a day, it's because she's not paying the bill. They don't call people who are on time, or early with their payments.

 

[Ravi]

Help requested. Child in debt.
--------------------------------------------------------------------------------
One of the children that I raised, Heather (last saw her about seven years ago. One of 32 foster children that I raised) has called me in tears and wants to know what to do. She went on through college and just graduated, but in the middle of her senior year, her grants were cut and she finished up her senior year living on a credit card. She was paying 9% interest originally.

The credit card company raised her interest rate to 29% when she reached the maximum on the card. She explained her situation and said that as soon as she landed a job, she would pay off the credit card. So far she does not have a job and they are harassing her with twenty to thirty calls a day, trying to run up her cellphone bill. They are sons of bitches from hell and need to be punished.

Now, I feel like going down to their office with a shotgun and just blowing the shit out of the place, but something tells me that is illegal, so I am asking, what can I do to stop the harassment calls? What can she do to get the compounded interest off of her card? If you tell me nothing can be done, watch your newspapers because I am going to have a damn good time in downtown San Diego in a day or two. No young child deserves to be treated like she has.

What can she legally do to get out from this situation? The credit card company is trying to take advantage of her and rip her off because she is in a difficult situation. That is total crap! Is there an agency that is non profit that she can turn to?

I do not want to send her to some company that will just try to rip her off as well. I don't want to have to shoot up two offices, but will if I get really ticked off.

What can I tell her? Who can she turn to?

This kind of shit has got to stop.

Give her this link:

National Foundation for Credit Counseling

They will help her come up with a plan to pay off her debt in a manner she can afford. It doesn't cost anything.

 

[Skull Pilot]

No one ever said being responsible was easy.

 

[editec]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

 

[Ravi]

A lot of card companies are jacking up the rates right now simply because they can...in a few months the rules will be stricter so they are trying to rake in the dough while they can.

 

[Skull Pilot]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

basically, what I'm saying is that you don't become beholden to parasites in the first place.

Did this girl have a job that allowed her to pay her debt? If not then she should not have been charging shit on a credit card.

And you have no idea if her interest rate was raised because she was consistently late with payments (which by the way I am betting is what happened)

And credit cards are a useful tool, not for buying stuff you can't afford but rather for establishing a financial standing that you can use to your benefit later on.

 

[Dis]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

You don't know that she borrowed at 9% either. They send out notices when they increase their interest rates - it's up to you to read them.

Right now, you only know one side of the story, and it's from a protective parent. Doesn't mean it's the full truth. Unless you're sitting there with the bills in front of you, you know about as much as I do, which is nothing.

Fact remains, the CC wants their money back, and they'll get it back. Do not EVER use CC's to live day to day.

 

[WillowTree]

Unfortunately, the only thing that you can do is pay the card off. After all, she spent their money. Now they want it back.

Just the way GM and Chrysler did their bondholder's? Like that? No,, If it were me I'd call said credit company and offer them somewhere between 5 and 25 cents on the dollar take it or leave it.

 

[RetiredGySgt]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

I agree she made the debt and need to pay it off IF possible, But you are right on this one Editec, As much as I dislike Obama and his policies, he has one semi good one coming down the pike, the Government is going to limit the ability of Credit Card Companies from doing this.

Ohh they will still get their money and probably add fees and such, but it is wrong to be able to jump a rate from 9 to 29 percent.

As for Bankruptcy they changed how that works a few years back it is harder to declare and the rules changed.

 

[editec]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

basically, what I'm saying is that you don't become beholden to parasites in the first place.

Good advice but not relevent to this girl's problems, or for that matter most Americans...NOW

Did this girl have a job that allowed her to pay her debt? If not then she should not have been charging shit on a credit card.

Perhaps she was being very sensible when she borrowed at 9%. You don't really know, do you? But what we DO KNOW is that she borrowed at one rate of interest and they're now charging her a late > 300% of that rate she agreed to vborrow at.

How nice for them that they can go this legally.

And the fact that they can do this is a freaking crime against the working class.

This is just one example of that class war which many of you, apparently, don't think exists.

And you have no idea if her interest rate was raised because she was consistently late with payments (which by the way I am betting is what happened)

I don't give a fuck why it was raised. It's wrong to lend at one rate and them demand that the debt be paid back at another.

It's immoral to allow that to be legal.

And credit cards are a useful tool, not for buying stuff you can't afford but rather for establishing a financial standing that you can use to your benefit later on.

Yeah, that's how it USED TO WROK, I quite agree.

But now, the credit industry is no longer a good thing, it's a parasitic industry which bribed our congress to allow them to basically STEAL from their clients.

I sincerely hope this girl declares bankripsy and that she finds a sympathetic judge who discharges every cent of her debts.

Fuck the credit card industry.

They're nothing but gangsters now.

 

[Dis]

EVERY CC company states they will raise your interest rate to the maximum if you're even so much as one payment late on your bills. You agree to that the second your card is swiped for it's first purchase.

If you think it's robbery, then don't use credit cards for anything. It's as simple as that. Nobody makes you apply for them, nobody makes you accept them, and nobody's standing there twisting your arm while the cashier swipes your card for that bag of doritos.

 

[Sarah G]

Help requested. Child in debt.
--------------------------------------------------------------------------------
One of the children that I raised, Heather (last saw her about seven years ago. One of 32 foster children that I raised) has called me in tears and wants to know what to do. She went on through college and just graduated, but in the middle of her senior year, her grants were cut and she finished up her senior year living on a credit card. She was paying 9% interest originally.

The credit card company raised her interest rate to 29% when she reached the maximum on the card. She explained her situation and said that as soon as she landed a job, she would pay off the credit card. So far she does not have a job and they are harassing her with twenty to thirty calls a day, trying to run up her cellphone bill. They are sons of bitches from hell and need to be punished.

Now, I feel like going down to their office with a shotgun and just blowing the shit out of the place, but something tells me that is illegal, so I am asking, what can I do to stop the harassment calls? What can she do to get the compounded interest off of her card? If you tell me nothing can be done, watch your newspapers because I am going to have a damn good time in downtown San Diego in a day or two. No young child deserves to be treated like she has.

What can she legally do to get out from this situation? The credit card company is trying to take advantage of her and rip her off because she is in a difficult situation. That is total crap! Is there an agency that is non profit that she can turn to?

I do not want to send her to some company that will just try to rip her off as well. I don't want to have to shoot up two offices, but will if I get really ticked off.

What can I tell her? Who can she turn to?

This kind of shit has got to stop.

There are free consumer counseling services like one called Consumer Credit Counseling:

Consumer Credit Counseling Service

They work with creditors, especially credit card companies to get the obscene intrest rates taken off and you make payments through CCS until the debt is paid. they also work out a budget with you so that you don't get back into debt again.

I see them on talk shows from time to time. The key is, you don't want to pay for a service to consolodate your debt.

 

[Sarah G]

Screw them and their jacked-up interest rates.

That girl did not rack up debt at 29% she borrowed money at 9%.

Screw the myth of your credit ratings, too.

Basically what you people are saying is that you need to cozy up to parasites to make it in America.

You think this credit industry is a good thing? Not anymore it isn't .

The sooner Americans stop giving a shit about this parasitic industry (and their fucking credit ratings) the sooner this nation gets back control over its own finances.

These people are monsters and the industry they work for should be put out of business entirely.

Good advice but not relevent to this girl's problems, or for that matter most Americans...NOW



Perhaps she was being very sensible when she borrowed at 9%. You don't really know, do you? But what we DO KNOW is that she borrowed at one rate of interest and they're now charging her a late > 300% of that rate she agreed to vborrow at.

How nice for them that they can go this legally.

And the fact that they can do this is a freaking crime against the working class.

This is just one example of that class war which many of you, apparently, don't think exists.



I don't give a fuck why it was raised. It's wrong to lend at one rate and them demand that the debt be paid back at another.

It's immoral to allow that to be legal.

And credit cards are a useful tool, not for buying stuff you can't afford but rather for establishing a financial standing that you can use to your benefit later on.

Yeah, that's how it USED TO WROK, I quite agree.

But now, the credit industry is no longer a good thing, it's a parasitic industry which bribed our congress to allow them to basically STEAL from their clients.

I sincerely hope this girl declares bankripsy and that she finds a sympathetic judge who discharges every cent of her debts.

Fuck the credit card industry.

They're nothing but gangsters now.

They are going after people who have been good customers now that so many have defaulted due to such impossible interest rates. The credit card companies (banks in general) are going to have to come around and decide to become honest businesses again, if they ever were.

Gone are the days of gouging people with interest rates that can ruin them with just one mistake.

 

[editec]

EVERY CC company states they will raise your interest rate to the maximum if you're even so much as one payment late on your bills.

Here's a heads-up for you sport. They can raise your rates on a whim.

You can have paid your bills responsibly, not have a single past due and they can STILL raise your rates.

And there isn't jackshit you can do about it, either.

You think that our laws should allow that, do you?

I think you have to be an asskissing tool to be good with that.

You agree to that the second your card is swiped for it's first purchase.

Yeah, I know...I read the fine print. Like I said I jettisoned CCs decades ago after using them for thirty years BEFORE they went from a service which was a valuable tool to a trap set out to screw people.

If you think it's robbery, then don't use credit cards for anything.

I don't....not ever.

It's as simple as that.

Well for me, yeah.

But for the millions of Americans who thought that the credit card companies only punished bad credit risks by jerking around the rate of interest (as you apparently still do) it IS a big deal.

Being robbed legally always is, actually.

Nobody makes you apply for them, nobody makes you accept them, and nobody's standing there twisting your arm while the cashier swipes your card for that bag of doritos.

Talk to me about that when you find your rate of interest on money you borrowed (thinking that it would never go up on you) has doubled or tripled.

You think it cannot happen to you?

You're wrong.

It is happening to millions of people who have excellent credit histories.

Why are the credit card campanies doing this to them?

Because they can, that's why.

 

[RodISHI]

For the most part national banking entities are as editec says, "gangsters". Credit companies/banks should have never been allowed to change initial contractual agreements that were made when a person signs the initial agreement. It is ridiculous for anyone to say, "but you borrowed the money" when a bank can change the rules of a contract after the fact with unilateral actions.


I know this about banks and credit card companies...You have good ones and bad ones I have dealt with both. Don't use credit cards unless you know you can pay for them at any time.

Find out what the laws are in your state concerning unsecured credit. Look into the collection laws. Harassment is not legal. Debt Collection FAQs: A Guide for Consumers

If credit card companies loan money to people that they know are at risk, too bad. When a bank loans money it is also the banks obligation to insure that their depositors money is safe. A contract takes two parties in agreement. When either party alters the conditions of that contract after the fact that contract is normally void. Banks have gotten away with contract fraud for years and no one stopped them from doing it. I'll repeat what the banks attorney stated to the appeals court here, "Standard banking practices". It is "standard banking practices" to alter documents with cut and paste techniques, overcharge accounts, make up false charges and erroneous settlement sheets and then threaten the borrower when the borrower refuses to go along with their game.

F' the bank when they refuse to deal in good faith. If the depositors money is at risk for their banks unethical and unfair practices then the depositors better find another bank or plan on losing some of their money. Deal with the devil knowingly and suffer whatever consequences are of that deal are.