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I Have a Loan Through Bank of America and I’m Going to Declare Bankruptcy. – Nick

Nick

“Dear Steve,

I have a Loan through Bank of America and the APR IS 15.99%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, I am going to declare bankruptcy soon if this isnt lowered.

Can you Lower my APR?

Nick”

Dear Nick,

These days 15.99% isn’t a bad interest rate on a credit card, But you didn’t say what kind of loan this was.

Nick, it isn’t cool to go bankrupt just because you don’t like the interest rate. Is there something else going on here? I’m hoping there is more to the story that you have not told me.

Steve

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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