When it comes to being bailed out by the government, or the lack there of, we have all felt it one way or the other. Yesterday was my turn, and it hit me right between the eyes.
These are tough times, and I'm sure I am not the only Realtor that has been using their charge cards to make ends meet.
When I receive the my credit card statement, I send out payment the next day, and it is the very least the minimum, if not more. I've been with the one company for over 10 years, and have *never* missed a payment. So imagine my surprise when I received my card charge statement, and without notification (that I am aware of) my interest rate went from 3.99 % to 14.24%.
I called the company on this, and they informed me that notification was sent out in December about this... I never received it. Believe me I would have opted out if I knew about it... who wouldn't?
I talked with the rep on the phone, even the supervisor, but I got the "Sorry, you missed the time-line." The most disturbing comment was from the first person I talked to. His reponse was "Since the banks for the credit cards did NOT get bailout by the government we are increasing the interest rates". IS THERE NO REGULATION FROM THE GOVERNMENT ON THIS?
This increase is now causing me to be with thousands of others... not being able to make the minimum payment. Where do banks feel that increasing payments will get them the money (and more of it) without it causing more problems? The increase will cause more people to not make their monthly minimum payments, and have more delinquent accounts.. which what, will in turn cause these companies to increase the rates more? Can anyone else see the problem with this type of thinking?
Most everyone is trying to work together to come out of this recession.. why are these banks not helping? Why are they making it worse?
What can the average consumer do? Where can you go for help? What can be done about this?
FOR ACCURATE INFORMATION ON REAL ESTATE.. CONTACT YOUR LOCAL AGENT
Info about the author:
Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Rocky Hill, Berlin, Middletown, Wethersfield, Newington, as well as all other surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.
If you're thinking about buying a home in Cromwell CT there are plenty of great buys in today's market. There is no better time than now to take advantage of these homes while interest rates remain at an all time low. For more information on Cromwell CT real estate's homes and/or condos please visit Johnson Real Estate to access the newest listings.
Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.635.0387 #2 - valerierealtor@sbcglobal.net.
Copyright © 2009 By Valerie Osterhoudt, ABR, All Rights Reserved...*CREDIT CARD COMPANIES DID NOT BEING BAILED OUT ARE PASSING IT ON TO THE CONSUMER*
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Valerie Osterhoudt, ABR
(Accredited Buyers Representative)
Is a Full Time Realtor® with with Johnson Real Estate, in Cromwell, CT who specializes in Homes and Condos For Sale in the Middlesex and Hartford Counties in CT.
Valerie Osterhoudt, ABR ~Johnson Real Estate, Inc.
cell: 860.883.8889
email: Valerie Osterhoudt, ABR
website: www.CTrealtorMLS.com
