"'I wish I could be a Meg Ryan movie. Or at least a good porno.'- Sidney Prescott, Scream"
Woman refuses to pay off credit card - says, 'put that in your bailout pipe and smoke it
Wed, 09/16/2009 - 11:28
Thu, 09/17/2009 - 09:01
#2
If I remember correctly, for about two thousand years the western world had something called Usury Laws, wherin charging more than 11% interest was illegal.
Thanks to a 1978 U.S. Supreme Court decision called The Marquette ruling (http://en.wikipedia.org/wiki/Marquette_Nat._Bank_of_Minneapolis_v._First.... !!!!!) there is no limit to what credit card companies can charge. Some states have caps set, but many don't. And even if they did, the credit card companies are all based in states with no caps and not even subject to the laws stated by the state governments which their customers are subject to.
Ugh.
Fri, 09/18/2009 - 11:42
#3
I understand what she's saying; BoA and the like are absolutely scumbags and have no problem financially raping anyone and everyone including small children and toothless elderly. That said, their lawyers know what they're doing. The make a lot of money to know what they're doing, and to rape as much money as is possible from everyone they can.
Legally, I'm sure, BoA is totally within their rights.
If she refuses to pay, it'll likely end in a 'charge off', which rather shatters her credit. But then again, the bank doesn't get their money either.
We really do need some sort of usury laws in the country again; legally allowing BoA and other banks to do this sort of thing is just leaving the cookie jar wide open.
__________________
Citibank told me tough shit too. I even offered to make a payment but since it was lower than what they were asking, they said no and they're charging me 29% interest from now on. I didn't say I wouldn't pay. I asked if I could pay less. I needed to rework my payments to them so I can get my teeth worked on. It's not like I"m going to get whitening or something. I had a tooth infection and had to get two of them extracted. I literally waited until I'm crying my eyes out from the pain, after popping 4 advil every 3-4 hours and running a fever of 102. Yeah, here's the thing about tooth infections that everybody forgets, they can kill you. So do I want to die in agony or have good credit? Hmmmm....tough choice.
How these banks ended up controlling every aspect of civilized life is beyond me. Seriously, if you plan to die, you're gonna need your credit card company's approval first.