Question
Are credit card companies taking advantage world wide or is it mainly in USA?
I have credit card with a company that I closed so my intrest would not go up with the agreement that I would pay the minimum every month. They went under, and another company bought them out with taxpayer bailout money. They tripled my intrest, and raised my payment $65.00 dollars a month. I have lost my job, and am unable to pay anymore. I offered to pay the previous minimum until I can find work, and they refused. I have stopped paying because they won't except the payment, and I have accumulated to this day $3000.00 more in intrest, and late fees. Is this happening everywhere or just here?
6 months ago - 5 answers
Best Answer
Chosen by Asker
Credit Cards originated in U.S so you think they wont do the same elsewhere? lol besides they are in the business of making money therefore they will do whatever sleazy way possible especially since people need there help more then ever world wide people dont have money and borrow more then ever,
by Vlad s
6 months ago
Asker's Rating: 
Other Answers
Just in the US
by John- 6 months ago
Most of the world is facing financial problems though I feel we're taking the worst of it.
by RawrzImo- 6 months ago
no it seems the credit companies in the states have a special squeeze tax that's pretty shameful of them , in Canada the government just gave the credit companies some new rules cause they were getting to big for there britches also .
by lotsbull- 6 months ago
Probably the US because Obama is trying to get tough with them. And they are going to do what they can to get the most of things before they get more regulated. However, let me suggest that you send in payment what you can and keep records. If they send the payment back to you, keep that documentation also. This way you can prove that you tried to make payment. Also I hope you kept good notes with whom you talked to, dates and time. This way you can show that you were trying to set something up. What will happen is that they will send you to collections and here is where it will get ugly. We tried a year ago to set up something because our business was doing so poorly. One person told to me to keep my money, because they will just send us to collections anyway. They did. If you get sent to collections do not admit that you owe the bill. Ask them for debt validation, Try to get the company name and address so that you can send the letter certified, do not sign your name.print-they can use your signature to forge documents, Never ever give Collection agencies your bank info ever. Go on line and check out your rights with the Fair Debt Collection Practicing Act..
by MKD- 6 months ago