Is It Time To Simply Stop Paying?
Posted on
February 3, 2009
at
10:37 pm
Some feel that the banks oppresion have made the situation so oppresive as to jusify simply not paying them.Sites like http://www.justdontpay.comare cropping up.Banks have lowered limits and then said "hey you are too close to your limit" and then raised the interest rates to oppressive levelseven for those who always paid on time.Crows!
Posted on
March 1, 2009
at
9:16 am
Um.... banks are in business to make a profit. This has never changed. They lend you money. You sign a contract that PROMISES to pay it back. When you don't pay it back, they don't make a profit. They're not a charity. Banks are businesses. If you don't pay them back, then you are guilty of THEFT. Pay your bills.
Posted on
March 1, 2009
at
2:00 pm
Raven, nothing personal, but it appears that you might be a bad person with wrong thinking.Have you read some of the stories at http://www.justdontpay.comPeople are being subjected to "inappropriate touching" by banks even when they pay as agreed.CC
Posted on
March 1, 2009
at
2:42 pm
If people really read their credit card contract, they wouldn't sign on the bottom line. It is a contract of adhesion. Once you sign it, you make it perfectly legal. If you don't know what you signed, shame on you. If you do, shame on you for complaining. Your best bet is to pay cash and throw the damned cards away. Yes, life will be tougher w/o a credit card but then your bank can't screw you with high interest charges and numerous assorted fees. Unfortunately, too many people will still sign the credit card cotnract w/o reading it. Oh well...
Posted on
March 24, 2009
at
2:19 am
@kayeshayne21, you are lucky to get loan from your friends. but most of people have to loan from banks. so do I. it is bad if the bank get the interests gets up and up.
Posted on
March 24, 2009
at
9:45 pm
I have spent four grueling years weaning myself off credit card use. My biggest credit card went from zero interest to $85 in interest in one month because I made a mistake and spent one of those cash advance checks the credit card company sent me. They knew that they were going to hike my interest fees even though I didn't. But I'm done with them now. And, I won't go back to living on borrowed money.
Posted on
March 28, 2009
at
11:20 am
I don't think not paying is a good option. This will cause more problems and bad credit ratings. I would be really hesitent to just not pay.
Posted on
March 31, 2009
at
9:28 am
this is a really bad thing as the companies are increasing the rates but we cant really complain as we are bound by the contract any way the interest they charge is for the convience they offer so it is really up to them to choose how much they want.As said by sandalwood the best way (if you would like it) is to throw your cards and start using the cash option
Posted on
March 31, 2009
at
9:35 am
AIways prefer to pay things in cash only because the cards charge a huge amount interest simply and wanted to squeeze us.
Posted on
April 1, 2009
at
11:17 pm
Just stop paying for a while. My CC doubled my rate and canceled my cards for NO reason, so i just stopped paying just out of pure outrage. I didn't pay for about 3 months. It's just a game of chicken in the current economic climate.Eventually, they reduced my rate to 0% until i pay off the entire balance. They just want their money back. If they don't get their money back, they can only sell the debt to a collector for about 5 - 10 cents on the dollar. I dont know if every credit card company will do this, but citybank did.Basically the change of 20% down to 0% interest halved my bill.
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