Reply #19: 29.99 percent interest rates are a crime

[democratreformed]

And that is solely the fault of the credit card companies. So is the $35.00 they tack on if you are one day late.
Yes, people sign agreements. Sometimes, those agreements change without the consent of the original consumer. There have been numerous class-action lawsuits over these things.

Then, also, people do not expect to not be able to pay payments on time - be it due to lack of money or whatever.

That is what happened to me. My mother died suddenly and unexpectedly. My dad lost it. I was running his business. My personal stuff got lost in the wash. I made payments late. My interst rates skyrocketed from 10 - 15 percent to 24 - 30 %.

I still pay my payments. But, it gets very frustrating trying to make headway on debts that, conceivably, with making minimum payments, will NEVER be paid off. Seriously, I put my info into a calculator and it said they will NEVER be paid off.

I did pay off one last year. I took money that I should have saved for our business to operate on and paid one off. Now, our business struggles with cash flow on a monthly basis.

Anyway, as our business grows, I WILL eventually get them paid off. On that day, I will have the biggest party you have ever seen.