Comments on: Popular “Debtor’s Revolt” YouTube Video Attacks Bank of America!

By: Mike

Mike — Wed, 30 Sep 2009 18:42:18 +0000

Linda, thanks for dropping by to comment. You have an email from me waiting for you.

Caution: Be very careful about emulating Ann Minch’s approach. In fact, I do NOT recommend at this stage you try anything remotely similar to what Ann did.

Whatever you and I think of banks in general, they have hellva lot deeper pockets than you or I…they can do things to us we can’t even imagine. Only foolish or more determine people than I believe they can do a “David & Goliath” to one of these behemoths.

Still, what I do to get “justice” from a big company is seldom done. I talk with many executives who deal with two types of angry consumers: 1. the mouthy complainers who are so angry it’s a toss up whether they’ll have a heart attack before they get results; and 2. the sheep who take it in the shorts every single time. They never stand up for themselves.

You see, what I do is not seen by these execs. I present my case in such a way they WANT to help me. I do NOT call them out. I don’t make it personal. I don’t yell and scream. I DEFINITELY do NOT threaten.

Stop back and update us. We’re anxious to hear of your success with BofA.

Mike

By: Linda S. Halket

Linda S. Halket — Wed, 30 Sep 2009 16:19:32 +0000

Mike
My “debtor revolt”, I have a letter written to BofA, not quite as extreme as Ann’s, but I need to know who I should send it to for action?
I am asking BofA to return my credit limit and restore my interest rate and credit rating.
I received a credit limit increase less than six months ago with no questions asked, online. In September I recieved a call from a representative “randomly” reviewing my account (I answered the wrong phone call), and I was informed my credit limit was being reduced by 50% because my debt with “other” creditors was too high (even though, I was paying off my balance monthly by auto-payment on-line with BofA, and I had a good credit rating (680). I have not been late or paid less than balance, unless it was more than minimum amount due, with ANY creditor.
But, the representative said, I could lower my overall monthly payments with “one easy payment”… I guess, with a “balance transfer” to BofA.
Hmmmmmm…. How much of a bonus do these guys get when they get some IDIOT to transfer their outstanding debt with other creditors, to BofA. The people at BofA are crooks…. they stink of manipulation and fraud. They should be run out of business.
So, my revolt, is to pay slightly more than the minimum amount due, and NOT to use the card again, unless my limit and previous interest rate has been restored.
I will use my dollars to pay off the current balance with my other creditors, creditors that have given me 3 times the credit limit that BofA has given me, and I will take my sweet time paying off BofA.

I just need to know WHO at BofA to send my letter to, Mike???

By: Mike

Mike — Tue, 22 Sep 2009 13:35:18 +0000

Lester, I have not heard from Ann, but I didn’t expect to hear from her. As I mentioned earlier, Bank of America returned her rate to 12.99% (where it was before). That’s what she wanted. Getting her rate returned to 12.99% did NOT require a YouTube video. All she needed to do was get around customer (dis)service. Today more than ever, banks are unnecessarily and dangerously putting the screws to its customers, invoking Universal Default in order to jack up the rate on every card a person has. Worse, credit card issuers are cutting customers’ credit limit, dropping their credit scores by doing so. The bottom line: pay down the credit cards NOW. Do not cancel your cards out of anger…that only will hurt your credit scores. Do not give in to banks’ predatory practices. Contact me for help if you don’t know how to get relief or if CS refuses t help you. The worst thing you can do is nothing. Here’s what Ann (the debtor’s revolt lady) represents today: Ann represents the growing anger of millions of people toward banks in particular. Honestly, the comments to her video surprised even me. Her video went viral very quickly! I disagree strongly with HOW Ann handled her dispute with Bank of America. I COMMEND her for taking action.

By: Lester Falgout

Lester Falgout — Tue, 22 Sep 2009 12:06:06 +0000

Mike;

Have you heard from Ann? If not perhaps she is on her way to the Jay Leno show.

On a more serious note. I do not think, because of Ann’s actions, the large credit card banks are all of a sudden going to get religion and lower everybody’s interest rate on their credit cards.

Lester

By: Mike

Mike — Tue, 22 Sep 2009 00:17:11 +0000

Lester, no doubt the banks are continuing to put the screws to its “customers.” As you correctly stated, I hear from many people who’ve gotten sued for similar “defiance.” In this case, the lady gets relief but NOT because of a YouTube rant. I can assure you. How do I know? I get better results (than 12.99%) without a YouTube video or national exposure.

Thanks for commenting,
Mike

By: Mike

Mike — Mon, 21 Sep 2009 23:55:42 +0000

Tony, Bank of America apparently responded by returning her interest rate to 12.99%–that’s exactly what she wanted. I’m not surprised at all. This is what I’ve continued saying: WHEN you get around customer (DIS)service, you get results. But why can people not get results from front-line CSRs? Why does it take getting to the top to get customer satisfaction? Now all the angry mob will think it takes a threatening rant on a YouTube to get results. To them I say: Go for it! Give it a shot and then report back. You should see what this lady has planned now. It’s ambitious. Hint: Wesley Snipes took on these guys as well…and last I heard he lost.

Mike

By: Lester Falgout

Lester Falgout — Mon, 21 Sep 2009 19:08:21 +0000

Mike;

On this thing with Ann. First of all I think Ann means to punish BoA. BoA has had over a century to figure out how to get their customer’s money. They are into a lot more things than just credit cards. I predict that if everyone would withhold their credit card’s interest, principal, and payment, BoA would simply farm out their legal action to local Lawyers and seek action in civil court. In Louisiana they [BoA] would seek a “Rule Absolute” and armed with that obtain a Writ that they would use to attach your: house; car; bank account; dog and anything else they can think of. Major Banks in this country have other things to do on their money list. Like bail-out Foreign Banks that got caught in this latest stock market and real estate investment crash

Lester Falgout

New Orleans
PS. Ann you can contact me to talk this over after you chat with Mike.

By: Tony

Tony — Mon, 21 Sep 2009 17:30:42 +0000

LOL. Ann’s video is funny and it is entertaining just see her take a stand with so much conviction; I sense her anger and frustration and believe she is serious. I believe I have experienced that frustration about at some things in life. As far as that method being effective, I would say not. It could make someone at BOA angry. On the bright side, I bet she feels much better, for now. With my limited knowledge of the law, I would say she has opened a can of worms to be sued. Her account would possibly be given priority by the bank to get it through the legal process. She shared her premeditated actions with the world.

By: Debtor’s YouTube Revolt Proves Just How Blind And Stupid Some People Can Be! | The Loan Center

Thu, 17 Sep 2009 10:27:22 +0000

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