Debtors Revolt Revolution Is On The Rise

On the Suze Orman show this weekend I watched this video of Ann Minch who refused to pay her Bank of America credit card bill. This was the beginning of a debtor revolt and she encouraged others to join in the fight and stand up against inflated interest rates, declining credit card usuage and made a youtube video which received a positive outcome from the Bank of America executives.

“There comes a time when a person must be willing to sacrifice in order to take a stand for what’s right,” said Minch in a Sept. 8 Youtube video “Now, this is one of those times, and if I’m successful this will be the proverbial first shot fired in an American debtors‘ revolution against the usury and plunder perpetrated by the banking elite, the Federal Reserve and the federal government.”

Of course Bank of America responded by lowering her interest rates.

Suze Orman asked if they refunded her late fees and penalties and that she should call and ask them to do that to. I wonder if they are willing to offer the same deal for all of their credit card consumers or was this simply a way to shut Ann Minch up to prevent Bank of America bank from receiving a backlash from customers demanding the same? Most American and people around the world are experiencing credit card interest rate hikes, closed down credit card, declining limits, decrease home values with no lines of equity or credit available due to the mortgage scam.

I have to say I am impressed with Ann Minch start of a Debtor Revolt which will probably get a lot of people to do the same thing she did hopiing for the same results. Are you going to join the debtors revolt revolution? Do you have anything to lose beside the ability to use a plastic card that probably don’t have any available credit limit available? Are you cutting up your credit cards? Are you going to call out other banks like Chase, GM, Merrick, Citibank and sound the whistle in a youtube video or you going to simply file bankrupcy? The Internet has made it a equal playing ground and computers with webcams got people airing out their dirty laundry with no shame nowadays……communicating with your lender has changed! Gone is the standard I’ll just write a letter and wait for them to respond.