I have written and spoke to many representatives in reference to their climbing interest rates and they do not care and have not tried to help I as many consumers out there should have resources available to assist in dealing with companies such as this.
Below is a few of the remarks that I have written to Bank One in a request to get them to review and adjust the interest rate to a managable rate as I am not one to walk away from a debt but with a company such as this it is obivious why so many people take the easy way out and file bankruptcy as this company leaves you no option.
I am going to continue searching for assistance but refuse to make another payment.
I have never had such high interest rate and due to my own stupidity I have let this happen. I now know why so many consumers get themselves in a financial hole it is because of companies like you. I feel that it is in both parties involved best interest to see if a reasonable solution can be meet as I have never walked away from a debt however you will leave me no choice.
It may be better to scar my credit for 2 years than have a debt which is continuing to grown due to the HIGH INTEREST RATE.
Please have a representative contact me as soon as possible so that a reasonable resolution can be reached. You may reach me via telephone at (xxx) xxx-xxxx or by email: or via us mail at my address on file.
I received your form letter which I could not get anyone within your company to understand the situation and today 8/2/04 I received a statement of account showing the amount of interest is 410.77 and a minimum payment due of 730.15.
This is ridiculous. I do not understand how a monthly payment can increase at the rate you are accessing when the card / account is not being used. At this rate it would take me 15 years to pay the card off.
This is the exact kind of situation to where you as a company takes full advantage of the consumer. You are showing an over limit charge which with the interest rate at 27.99 the over limit fee is always going to be there.
I have been told by your associates that I have a good standing record with you. If this is so why am I having such a difficult tie in getting this resolved in a manageable manner?
I have also received in the mail today a Class Action Suit which you have been named in for over limit fees, finance charges and late fees. This action clearly states exactly what you are doing in reference to my account.
Looking through my past statements I have noted that my interest rate was 9.99 and then 19.99 and then on the April Statement the rate went to 24.99 and then in June to 27.99 this is unheard of. It is my own fault for not looking at my statement closer. What a dumb consumer.
I am obliviously left with no other option but to seek other means and notify the public of your actions. I have acted in good faith with no good faith results from your company.
I asked of you once again to review and advise.
However do not send a form letter reply back to where I have to speak to 5 different people and no one knows what I am referring to. Please reply in a more customized professional manner.
I look forward to hearing from you in a timely manner as you expect payments in a timely manner.
Thank you in advance for your review and consideration.
Regards
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