Tuesday, 23 August 2011

The Rules Have Changed........

I read Frugal Queens post this morning about Who to Trust and commented on it there, but decided to post the content of my comments on here too.

I bank with a major high street bank and have been with them for over 30 years. My current account where mine and Himself's wages are paid in is there and we have 2 credit cards with them. The cards are pretty high in debt (dont go there) but we pay a little over the required payment every month in an attempt to get the debt down as fast as possible.

We have been charged 17.9% interest on these cards for the past couple of years, the bank sneakily upped the interest rate from 14.9% and seemed to have 'forgotten' to tell us, yea right. Well now, in a time when the Bank of England Rate has been 0.5% for ages and ages, they sent me a letter telling me that as I have considereable debt (yes, I know that fact and didn't need reminding) I am considered a bad risk and as such they have decided to increase my interest rate to 27.9% !!!!!

Hello, our debt has been going DOWN for over 2 years NOT UP !!! How on earth do they decide that we need to pay more when our debt is coming down ?????

So now they have increased our debt mountain for us and are intent on keeping us tied prisoner to them for even longer, nice of them eh? They were already making a very nice profit on the 17.9% - but now they are just becoming greedier and greedier. We have never ever ever ever missed a payment !!!

I also presume that if any other company did a credit search on us, they would jump to the conclusion that we are some sort of bad risk and maybe do the same. The whole system nnow stinks. The thieves at the top who make these decision are getting richer whilst us poor phlebs at the bottom of the pile are being kept down by an increasing debt level whilst working our socks off trying to pay it off !

So in answer to Froogs Question, I dont trust anybody in Banking, Finance, large newspapers or Government, regardless of their party.

As I said at the top, the rules have changed, but nobody is bothering to tell us what they are, we just have to keep trying to work them out as they constantly move the goal posts about.

I just want a desert island, with a bit of sunshine and wind for power and a patch of ground to grow on. Then all these damn parasites can bugger off and leave me alone. I want nothing off them and they can have nothing off me !

1 comment:

Frugal Queen said...

Hi - it's only two years ago that we were in your position. check your credit rating, if you can move anything to 0% or a low rate card then try to do so, then pay the minimum payment on your other debts and the maximum you can on your lowest card. At first, we couldn't get any 0% cards, so we paid the minimum on all but one and blasted one card with money from: dog sitting,ebay, cleaning caravans, exam marking, lodgers until one was gone. credit companies will only take notice when you get rid of a debt - email me janmclark@hotmail.com and if i can be any help, i will do what i can - love froogs