Credit Card Companies Complaint - Financial Rape By Credit Card Companies

Review by vacpec on 2009-01-17
INDIANAPOLIS, INDIANA -- I have always paid my 2 credit cards on time with extra payment over the minimum payment. I recently developed some medical problems while I was traveling and wound up hospitalized. When I got back home I immediately paid my bills. However, since my payment was past due (1st time) Wachovia raised my interest rate to 19.99% and Bank of America raised my rate to a whopping 29.99%. Now with the additional medical expenses I am having and the new rates these banks have imposed on me I can hardly make the payments. I have no luxuries in my life, do not have car payments or cable TV - nothing. I called both banks to explain my situation and to ask for some type of help. I was told there was nothing they could do. I don't want to wind up having to go into bankruptcy but this is actually pushing me in that direction. How can this even be allowed to be a legal business practice? Its like banks are actually allowed to beat people down when they have fallen, and in the worse way.

How can the government use our tax money to save these companies and then allow them to rape us like this?

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