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I dont know about you ladies, but Im pretty ticked off and put back by the credit card companies upping there interest rates.  I never pay the minimum and am always on time, if not early, with my payments.  How do you feel about having to bear the heavy load of those that dont pay?

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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • Sorry I spelled “there” incorrectly.  Meant “their“.  Just one of my pet peeves...lol




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    • 0 votes vote up vote up

      Tuliplady wrote Apr 21, 2009
    • The interest on both my cards has actually gone down recently.




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    • 0 votes vote up vote up

      Mztracy wrote Apr 21, 2009
    • i opted out!! this way my account closes and i keep my rate until it is paid off!

      They can do it and are doing it. During the bush regime he signed the papers so we can no longer file bankruptcy against credit cards either. I personally would never do that, but there are the few that need to.




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • I pay the lowest around 5% but now they are upping the rates because like Robyn said....they can.  

      I pride myself on being a great credit card holder.  Im actually insulted by them raising the rates.

      What Im about to do is cut up those cards and be done with them.  I really am insulted...lol.  

      xoxo




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • I pay mine off every month Term.  It’s the ones the husband uses that I cant keep up with.  To think he NEVER wanted to use credit cards.  He was deadset against them.  What have I done??????LOL




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    • 0 votes vote up vote up

      Mary Clark wrote Apr 21, 2009
    • Tracy...being in the banking business...I know of several people who are members at my C.U. that filed for bankruptcy and credit cards were included in the bankruptcy. And these were done lately.  

      When did Bush put this into affect? Just wondering....




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • I didnt realize that would happen Tracy.  I have to go back and read those disclosures.  Because if that’s the case, I dont need those cards.  Thx for that information.

      xoxo




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • My son is probably going to file bankruptcy.  His motorcycle just did him in in more ways than one.  He is permanently injured, physically and financially.  There is really no other way out for him.  What he got in damages doesnt even touch what he owes.  And no medical coverage to boot.  

      No lawyer ever said credit cards are not allowed.  Im just wondering???




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    • 0 votes vote up vote up

      Mary Clark wrote Apr 21, 2009
    • Doreen:  I am thinking they are included....they would have to be.  For those who do not own homes...what would you file for???  One or two vehicles???  

      Now...depending on how you file..Chapter 7 or  Chapter 13...you could possibly have to pay the bankruptcy court back a portion of what you owe...but then again..it depends on how you file.




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • Then what burns my a**, I get an offer to transfer balances for 0% interest because I am an outstanding debtor.  I go to transfer balances and am denied.  Again...WTF????




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    • 0 votes vote up vote up

      Mary Clark wrote Apr 21, 2009
    • Right now...credit card companies are going to get every dime they can get out every single customer.




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • Mary Clark: His motorcycle was through HSBC.  Although it is a credit card, they are a lean holder.  We’ve told them to come get it and we were told “they dont do that” so Im guessing they are just a credit card.  He has tried to deal with them honestly and logically, when he had his accident a year and a half ago but they didnt want to work with him.  Theyve added fees upon fees and the amount due is way over what it started out being.  

      He has been paying the minimum on everything else, has paid all of his medical bills (believe it or not) he was approved for financial aid, not medicaid (a whole nother story) but all in all...he is financially devastated.  He has no other choice.




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    • 0 votes vote up vote up

      Doreen XoXo wrote Apr 21, 2009
    • I bank through a CU as well.  THE BEST!!




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    • 0 votes vote up vote up

      Mztracy wrote Apr 21, 2009
    • This happened about 2 years ago. It was all over the place. I actually heard it from my cousin who works at a large...one of the evil ones, bank!  

      My friend got into trouble lost her job and was denied the option to file bankruptcy on her cc. You can stil file for homes, cars, etc, just not on your credit cards. A lil gift i guess from the govt 2 years ago.  

      So now they can up your rates all they want and nothing we can do about it.  

      Yet they can file bankrupty all they want! My dad lost his pension due the co. going bankrupt!!




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    • 0 votes vote up vote up

      Wow40plus wrote Apr 21, 2009
    • Oh,the high and mighty banks can screw us as much as we are still a customer! That is so right they are going to squeeze as much money as they can,why not,they need to make money!We have the power as a consumer to shop around,ask for lower rates,if they don’t give it then go to someone else who will. Do you remeber when the atm cards first came out,it was great! i didn’t have to carry cash with me.BUT then they decide to charge those little fees that kept adding up at the end of the month.Fees-fees-fees.
      Doreen,I’m so sorry to hear what a mess your son is intongue out I hope he gets out of everything okhappy




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    • 0 votes vote up vote up

      Mary Clark wrote Apr 22, 2009
    • Tracy:  I’m pretty sure it was due to the way she filed.  The bankruptcy court will also determine that as well.
      Or maybe it’s a state to state thing too.  But you can include credit cards but I also think it’s the way you file too.  

      I found this info just now on the internet:  

      Bankruptcy  

      Personal bankruptcy generally is considered the debt management option of last resort because the results are long-lasting and far reaching. People who follow the bankruptcy rules receive a discharge — a court order that says they don't have to repay certain debts. However, bankruptcy information (both the date of your filing and the later date of discharge) stay on your credit report for 10 years, and can make it difficult to obtain credit, buy a home, get life insurance, or sometimes get a job. Still, bankruptcy is a legal procedure that offers a fresh start for people who have gotten into financial difficulty and can't satisfy their debts.

      There are two primary types of personal bankruptcy: Chapter 13 and Chapter 7. Each must be filed in federal bankruptcy court. As of April 2006, the filing fees run about $274 for Chapter 13 and $299 for Chapter 7. Attorney fees are additional and can vary.

      Effective October 2005 , Congress made sweeping changes to the bankruptcy laws. The net effect of these changes is to give consumers more incentive to seek bankruptcy relief under Chapter 13 rather than Chapter 7. Chapter 13 allows people with a steady income to keep property, like a mortgaged house or a car, that they might otherwise lose through the bankruptcy process. In Chapter 13, the court approves a repayment plan that allows you to use your future income to pay off your debts during a three-to-five-year period, rather than surrender any property. After you have made all the payments under the plan, you receive a discharge of your debts.

      Chapter 7  is known as straight bankruptcy, and involves liquidation of all assets that are not exempt. Exempt property may include automobiles, work-related tools, and basic household furnishings. Some of your property may be sold by a court-appointed official — a trustee — or turned over to your creditors. The new bankruptcy laws have changed the time period during which you can receive a discharge through Chapter 7. You now must wait 8 years after receiving a discharge in Chapter 7 before you can file again under that chapter. The Chapter 13 waiting period is much shorter and can be as little as two years between filings.

      Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments and utility shut-offs, and debt collection activities. Both also provide exemptions that allow people to keep certain assets, although exemption amounts vary by state. Note that personal bankruptcy usually does not erase child support, alimony, fines, taxes, and some student loan obligations. And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.
      Another major change to the bankruptcy laws involves certain hurdles that a consumer must clear before even filing for bankruptcy, no matter what the chapter. You must get credit counseling from a government-approved organization within six months before you file for any bankruptcy relief. You can find a state-by-state list of government-approved organizations at www.usdoj.gov/ust. That is the website of the U.S. Trustee Program, the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees. Also, before you file a Chapter 7 bankruptcy case, you must satisfy a "means test." This test requires you to confirm that your income does not exceed a certain amount. The amount varies by state and is publicized by the U.S. Trustee Program at www.usdoj.gov/ust.

      Hope this clears up any questions....credit card can be included in bankruptcy depending on how you file. happy




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    • 0 votes vote up vote up

      Smiley1962 wrote Apr 22, 2009
    • My husband said today that Obama was on the news yesterday or this morning advising the credit card companies to lower their rates or he will. So let see whats happens with that.




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    • 0 votes vote up vote up

      Mary Clark wrote Apr 22, 2009
    • Doreen:  I’m wondering though with the motorcycle being financed through a credit card...if they do not come and get it...the only downfall to it is...they will not send him the title..I would think. Therefore...he could never sell it. I will check on this.




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    • 0 votes vote up vote up

      Vikki Hall wrote Apr 22, 2009
    • This is all very interesting and informative. Thx!
      My SS received a 0% interest cc a few months back and was told if he made payments on time he would retain a low interest and an increased limit.  

      I believe Discover was the card.

      And yes CU are the only way to go. I have been with one for over 20 yrs and have had most of my loans for cars and houses thru them. My cc is also thru them and I feel very protected by them.




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