Sign Petition

stop credit card extortion and usury!

43 Signatures Goal: 100

Republicans in the Senate are pushing through a bill to make bankruptcy for those who have legitimate cause to file a thing of the past. Credit card companies and retailers, who are complaining of the huge increase in bankruptcies filed recently, lobby the bill. Some reasons so many more bankruptcies have been filed in recent years: Unemployment forces once-creditworthy people to live on credit cards while out of work. If payments are missed, credit card companies jack up the interest rate to extortionary levels, as high as 25-30% depending on the state in which the issuer does business. The consumer is consequently placed in a debt grave--for every small shovelful he is able to dig out, the credit companies throw in two more. Another reason is rising medical costs and the vast number of uninsured citizens who are unable to pay horrendous hospital debts...again, they are forced to rely on credit cards to pay hospital bills, often after long periods on medical leave from work, and the debt grave cycle begins anew. There are many more reasons, too numerous to mention here, how the banks and retailers attack individuals who had no intention of ever stepping foot in the debt grave, but were thrown in by unfortunate circumstances. Bush is on the side of the banks (who would wonder, after he addressed a large audience of campaign supporters as \"the haves, and the have-mores\"--which drew gales of appreciative laughter from the wealthy audience. He then called them

Sponsor

This petition is sponsored by one single, solitary American consumer who is very weary of how the public has been duped by the credit system in this country. I have personal experience with this, having been forced to rely on credit cards to see me through two uninsured surgeries, which occurred while I was working my way through college in order to improve my financial lot in life. I would have been fine had the cards remained at a reasonable interest rate.

Links

www.bankrate.com/brm/news/cc/19980202.asp

Comment

29

Signatures

  • 5 years ago
    Ryan Brudis United States
    5 years ago
  • 6 years ago
    Patrick Llewellyn United States
    6 years ago
  • 6 years ago
    Reginald Myler United States
    6 years ago
  • 6 years ago
    George Vinci United States
    6 years ago
  • 6 years ago
    George Vinci United States
    6 years ago
  • 6 years ago
    Brenda Anderson United States
    6 years ago
  • 7 years ago
    Paula Rich United States
    7 years ago
  • 7 years ago
    Cheryl Holtman United States
    7 years ago
  • 7 years ago
    rudy carpenter United States
    7 years ago
  • 7 years ago
    Bob Forester United States
    7 years ago
  • 7 years ago
    Kahlia Moore United States
    7 years ago
  • 7 years ago
    Ben Ochart United States
    7 years ago
  • 7 years ago
    Jennifer Borny United States
    7 years ago
  • 7 years ago
    Guy Ferdman United States
    7 years ago
  • 7 years ago
    Gary Cooper United States
    7 years ago
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