Creditees Going on "Strike."

Last summer, Ann Minch, started a YouTube sensation known as "Debtors Revolt" against the Bank of America. Despite paying her credit card bills on time, she had clean credit and been carrying a balance (but under her limit) for some years. In 2009, without explanation, Bank of America raised her interest rate from 12.99% over 30%. Ann Minch then cleverly went viral- her YouTube video "Debtors Revolt" (www.youtube.com/watch?v=jGC1mCS4OVo) has been seen over 498,000 times. Finally, BOA finally agreed to reduce her interest rate back to the original 12.99% and she then promptly paid off her balance. Following in her footsteps in January 2010, a California attorney named "Ben" is refusing to pay his balance at Bank of America until they lower his interest rate to a more reasonable 10.99% because after requesting they raise his credit limit, they reduced his limit and increased his interest rate astronomically to 27.99%. He is not only refusing to pay his balance, he is not planning on fixing credit because he's threatening to sue BOA if they ding his credit report- Bank of America breached good faith by reducing the limit to a level that would likely incur fees and damage his credit report. While we at Vitesse do not recommend the average consumer risk their credit standing and having to pursue credit repair to "revolt," in today's economic climate, it is certainly interesting to see such situations unfold. Today's consumer is more educated than ever and they are't going to be taken advantage of. If you find yourself in a situation where you need to improve your credit score, consider contacting a highly reputable credit repair services company like Vitesse Financial.