With today’s economy where many are losing their jobs, some aren’t able to make their monthly payments to the credit cards and loans. This of course comes with a hefty price and it’s called a possible increase of interest rates.
But, what happens when others that are paying their bills are faced with much higher interest rates? Ann Minch, an unemployed woman from California started a “debtors revolt” against all creditors as she felt her APR for one of her Bank of America cards was increased unjustifiably.
These are her own words from her video description:
“Message to Bank of America: I’ve decided to it’s time to take a stand against the banksters’ usury and greed! If our founding fathers were willing to sacrifice their LIVES for our FREEDOM, then I can certainly sacrifice my credit score and be willing to be sued. I’m staging a DEBTOR’S REVOLT!”
Ann states that she’s been a Bank of America customer for 14 years and even though she had no trouble paying her bills, and wasn’t behind on her credit card payments, the bank decided to increase her interest rate to 30%.
Check out her video as she takes control of the situation and decides to speak up for herself and let others know what’s going on with Bank of America. She states that she won’t pay until they lower her rate or make her an attractive payoff offer. The video has gone viral with over 270,000 views. In her video she asks others that are facing a similar situation to join her in her “debtors revolt.”
It was later communicated to her by Jeff Crawford, Sr. Vice President of Existing Customer Credit Services at Bank of America that the reason for her increase in interest rate was due to a couple of late payments on her account.
Nevertheless, the bank ended up listening to her request and lowered her interest rate to 12.99% as she was able to argue that the first person she spoke with didn’t inform her exactly what was going on. It’s amazing what a little YouTube video could do for you.
