“Dear Steve,
I am current of all of my debt. Do not have any past due debt. I do have about 25,000 in credit card debt and would like to consolidate, however am having a difficult time finding someone. Also, my main problem is that I have a Bank of America card fo 12,000 that they just raised my interest rate to 24.99%. I have called and ask them to lower it and they won’t even work with me. Any suggestions?
Laurie”
Dear Laurie,
There are two reasons Bank of America raised your interest rates. The least acceptable reason is because they can. The terms and conditions you signed when you took out the card allow them to raise you rates without much notice at all. The second reason they did might be because your credit report is showing signs that you are becoming a higher credit risk.
If you have not looked at a copy of your consolidated credit report recently then you should. A consolidated credit report, with credit score, will show you all three credit bureau reports and explain exactly why your credit score is what it is.
The most realistic solution in your situation would be to look into participating with a debt management plan to see if the debt management company can get you lower interest rates and a lower payment. Click here for debt management information. Through a debt management program they should lower your interest rate to around 7%.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
- Who Knew TitleMax Sucked This Bad? - February 23, 2023
- Litigation Practice Group Lawsuit by Business Partner All Service Financial – We Want Our Money - January 24, 2023
- HomeAdvisor and Angi to Pay Up To $7.2 Million and Stop Deceptively Marketing its Leads for Home Improvement Projects - January 23, 2023
In that case look at LendingClub.com. If you go the LendingClub.com route, let me know what your loan number is and I’ll help to fund it.
Steve
I don’t want the stigma of having a debt consolidation company handle my finances. I want to pay my debt but would like a one monthly payment with a debt consolidation loan. Who is lending to people with a fair rating due to carrying their kids financial burden with theirs.
I don’t want the stigma of having a debt consolidation company handle my finances. I want to pay my debt but would like a one monthly payment with a debt consolidation loan. Who is lending to people with a fair rating due to carrying their kids financial burden with theirs.
In that case look at LendingClub.com. If you go the LendingClub.com route, let me know what your loan number is and I’ll help to fund it.
Steve