Don't Worry Chase Bank,
Nobody Here but us Lemmings.

Saturday, December 11, 2010

Shelby County Aims to Help Keep Families in Their Homes | My Fox Memphis | Fox 13 News

Shelby county is arranging meetings between those being foreclosed upon, and the banks. But will these meeting really amount to anything if there is no active homeowners group to remind the banks they want to be respected?

Do these residents know to check out Swarm the Banks and Parallel Foreclosure to learn of the true level of unfairness that still exists in the way foreclosure proceedings are conducted by the banks?

Thursday, October 7, 2010

Chase Bank "Balance Liquidation Program" might help you actually pay down your credit card debt.

About a year ago I was told by a reader to ask for the 5 year Chase Bank "Pro-Active" program as one way to combat Chase Banks change in terms on their low interest rate credit card offers.

Chase Bank basically STOLE anywhere 10 million to 100 million dollars in monthly interest rate savings from its customers. Chase Bank increased the monthly minimum payment on customers low interest rate, life of the loan credit card agreements by 150% above and beyond what their customers were already paying!
If a customer was making a 400 dollar a month payment to Chase Bank, that payment would suddenly jump to 1,000 dollars a month! If the customer could not make the higher payment, they would default on the low interest rate credit card agreement (example, 2.9%), and the interest rate could increase to as high as 29%! In my opinion this was a criminal act by Chase Bank that to this day has not been rectified. (Important update -June 30, 2013), Kamala Harris has filed a state wide class action lawsuit regarding a huge influx of Chase Bank garnishments immediately after they forced tens of thousands of these customers into default! -end this update)

There may literally be tens of thousands of Chase Bank customers who took a huge financial hit because of Chase Bank first changing terms, then not allowing their customers to opt out of the change in terms.

Chase Bank went as far as to lobby the new credit card reform act of 2009 so that they WOULD NOT have to notify their customers whose terms had been changed that there was a way out of the mess.
Indeed, when I called the number the reader gave me, the five year paydown program was called the Pro Active program.
However, when I got the Chase Bank welcome letter, I was so upset with Chase Bank (Because the accelerated paydown of this low interest rate credit card would cost me hundreds of dollars extra as I applied extra money to this low interest rate card that could have gone to pay down a higher interest rate credit card faster), that I just sort of glanced at their "welcome letter".
Today, I ran across the chase bank welcome letter again and noticed that I was being welcomed to the Chase Bank "Balance Liquidation Program". So even though I was told, and Chase Bank answered to the name Pro-Active, the other name that apparently describes the 5 year pay down program is called the "Balance Liquidation Program".

(edit note - Nov. 15, 2012 - 3:20PM, reading this now, the above sounds confusing. My point was that when I originally tried to get help for the Chase Bank 2% to 5% increase in the monthly minimum payment, customer service did not offer either the Pro-Active or the Balance Liquidation program UNTIL I mentioned either one by name. If it is true that customer service was kept in the dark about these programs, this just magnifies the financial damage that Chase Bank did to customers who were looking for a compromise solution.)

I recall banks sending me similar types of 5 year pay down programs, but the interest rate always seemed to be anywhere from 10.99% to 19.99%, or higher. I think two differences with this Chase Bank Balance Liquidation Program is that the regular customer service department may know who to send you to, whereas with the Pro-Active program they may not, the second difference is you may actually qualify for anywhere from zero percent interest to some other single digit interest rate not exceeding 9.99%.

The idea being that whatever interest rate you are presently paying, if you agree to close your account while continuing to pay off your closed account, you will get a low interest rate as an incentive.

So if you feel you can pay off a credit card debt that currently is at a high interest rate if the interest rate were lower, you may want to consider calling and asking about the balance liquidation program. I think other banks besides Chase Bank may offer this program as well.

Your credit score may take a small hit because of the closing of the account, but I think that is only for perhaps six months, then if you show that you are making timely payments, it should start to help restore your credit score, and you get the added bonus of paying less out in interest rate charges.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in sometime in 2010.

Tuesday, May 18, 2010

Brenda Reed, Oakland, California

I am a Vietnam War widow dealing with Chase/WAMU. On Monday, May 17th, 2010, unless I have legal or divine intervention Chase will sell my home of 38 years at auction on the courthouse steps in Oakland, California. I have been trying to work out my loan with Chase since July 2009.

I successfully completed a 3 month trial modification with manageable payments that dragged on for 5 months. On February 1st, the anniversary of the death of my husband, Captain James Eddie Reed, in Vietnam, a Chase rep telephoned me and stated "I know what today is for you . . . you have been denied . . . we are going to foreclose on your home. My home is also a bed and breakfast business. On April 24th I received the Notice of Trustee's Sale and it was taped to my door on April 26th -- something utterly devastating.

The one thing I know for sure is that my husband did not give his life for his country so a bank -- any bank -- could run rough shod over his family or countrymen....Read the rest of the story at Shame the Banks.

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Saturday, April 17, 2010

Syracuse Students protesting Jamie Dimon's commencement speech.

SU Students Protest Commencement Speaker

Jamie Dimon is supposed to speak at commencement services for Syracuse University. Lets hope smarter heads prevail and he is shown the door before speaking.

On the other hand, it might be better if Mr. Dimon speaks as there is little he can say that will be the truth and instead will be easily debunkable.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in sometime in 2010.

Thursday, April 8, 2010

Just who Won the Healthcare Debate, was it perhaps Wall Street?

Here are the players in the Healthcare Debate that we should consider.

Consumer credit card debt of somewhere between 850 billion dollars to 1 trillion dollars (if we count zombie debt, it could be as high as 1.5 trillion dollars???).

Consumers are paying 10-15 billion dollars A MONTH on interest rate charges on EXISTING credit card debt.

10,000 foreclosed homes PER DAY is creating new waves of wealth opportunities FOR THE BANKS AND WALL STREET.
OVER A YEAR SPENT DEBATING A HEALTHCARE BILL that won't take affect for SEVERAL years and could easily be revisited and changed before it becomes law, meanwhile 10,000 homes are foreclosed upon EVERY DAY.
Just who won the healthcare debate? I have read a few articles on the internet that Chase Bank is making money by buying distressed businesses and properties at well below market value. Animal analogies abound. A coyote eating their own leg off to get out of a leg trap, a vulture flying overhead viewing their next prospective carcass. Creating false wealth by buying cheap is a new scandal waiting to be fully exposed.

Keeping home mortgage modifications complicated and in perpetual turnaround is the precursor to being able to buy foreclosed homes cheap and later on sell at a higher price, (although it does depend on how much of the leg is being chewed off).

Wouldn't life be easier for all if all mortgages had their interest rates re-racked to 4% without review? Way too many resources are being spent on stalling people in home loan modification turnaround.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in early 2010.

Saturday, February 20, 2010

More Book Delays, still can't upload my photos from my Canon Power Shot Camera onto Apple Snow Leopard, FIVE MONTHS HELD HOSTAGE BY MAC!

The title says it all. I upgraded my mac to snowleopard and now I can't upload photos to my canon image browser software. Amazingly enough, the Apple I-photo software offers NO WAY to super impose words over the photo.

As anyone who has seen the prior photos I have created, they ALL have text on them. Costco has joined on the consumer fraud by continuing to sell canon powershot cameras in their store with the canon packaging that states the cameras work with macs.

If a camera's own proprietary software WON'T WORK on an computer platform, than the camera is being sold as an incomplete package. I learned a long time ago that archiving a library in master location is the simplest way to create a work flow. I refuse to bend from that principle.

I have found over and over that the digital world is all about destroying solid, steadfast rules in exchange for playing things fast, easy, and changeable to maximize profits even if it means destroying how people were already using their products.

Parallels can be made between our dysfunctional economy and punk companies like Apple that are too big to care.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in early 2010.

Tuesday, February 2, 2010

The Problem With America's Debt - Glenn Beck - - Gasp, Glenn Beck compares China to Chase Bank, makes no sense.

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Glenn Beck does not understand the real damage that consumer debt is creating. He thinks we would be "better off" owing Chase Bank rather than China. This is just nuts. We would be better off incentivizing the consumer credit card debt by removing the interest rate charges for any consumer who is committed to PAYING DOWN THEIR CREDIT CARD DEBT.

Everybody wins, even the Chinese. But Glenn Beck falls short with his analysis. The alleged tea bagger could not bring himself to admit that national banks have destroyed local economies.

I will give some credit to Glenn Beck for spotlighting that the Barack Obama is holding on to part of the stimulus money so that the democrats can use it just before the next set of elections this fall to seed Wall Street and possibly electrify regions of the country with stimulus money.

But Glenn Beck loses the credit, and then some, when he has the gall to say consumers would be better off owing Chase Bank rather than China.

Wednesday, January 13, 2010

JP Morgan Chase makes money by Charging Fees, just another barnacle feeding off somebody else's wealth, not creating it.

With apologies to barnacles. Barnacles probably serve some important ecological function by attaching themselves to other living organisms and feeding off of them, but Chase Bank appears to be about feeding off of others by charging fees to make a profit, which then converts to bankster bonuses into the tens of billions of dollars.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in early 2010.

Sunday, January 3, 2010

Your Chase Bank Horror Story wanted for "The Cat Who Ate Chase Bank", the book.

Do you know somebody who has suffered as a direct result of Chase Bank's raising of their monthly minimum payment from 2% to 5% on credit card accounts that had life of the loan, low interest rates agreement already in place? Do you feel your home equity line was unfairly cut off to you overnight? Have you been charged a crazy amount of fees and penalties? I want your story for my book, the Cat Who Ate Chase Bank.

One of Chase Bank's most notorious anti customer campaign involved raising the monthly minimum payment from 2% to 5% on their very low interest, life of the loan credit card agreements. The customers who were hit with this huge increase in their monthly minimum payment were customers that were never late on their payments.

Chase Bank lobbied Congress and was able to get the credit card reform bill act manipulated so Chase Bank would not have to notify their own low interest, life of the loan credit card customers that they could change over to the five year pay down program. Most of their own customers do not know about the five year Pro-Active pay down program.
If you call Chase Bank customer service and ask about getting a better deal, they will mislead you and tell you there is nothing they can do for you
even though Chase Bank actually has a Pro-Active department designed to put you on a five year program at the same low interest rate you were paying with Chase Bank. Click here to go to that free article with the toll free phone number and important information before you call.

As a reader recently commented, some of the Indian call centers actually laugh at you as if they are enjoying your suffering. Yes, even with the bailout money and additional monies given to the banks, Chase Bank is still outsourcing jobs to India even as Chase Bank builds a lavish airport hangar for their Lear Jets.

Chase Bank is even "giving away" 5 million dollars to facebook non-profit groups and telling everybody who will listen how great they are for doing it. Sadly, this 5 million dollars is just a drop in the bucket to what Chase Bank has stolen from their one million customers who were never late on their payments yet had to deal with the indignity and dangerous consequences of a 150% raise in their monthly minimum payments.

Lets be clear here, any consumer who has other, higher interest rate credit card debt and is instead forced to pay down their low interest rate Chase Bank debt at a faster pace because of the 5% monthly minimum payment, has basically been stolen from by Chase Bank.

While all credit card companies offered low interest rate, life of the loan credit card agreements to their customers, ONLY CHASE BANK actually reneged on their agreement, changing the terms, and then would not allow their customers to opt out. Only Chase Bank did that.

If you are the victim of the Chase Bank monthly minimum payment increase, you can call in and get your payment reduced back to the 2% monthly minimum rate. There is even a secret Chase Bank five year Pro-Active plan that is a superior option to having your monthly minimum payment go up by an additional 150%.

However, of the possibly one to two million customers who had their monthly minimum payment increased on their low interest rate account, probably 90% or more will never find out about the 5 year program. Some of these people will most likely be the victim of some type of penalty as they fall behind on some of their payments. The resulting hit their credit score will take will then result in higher interest rates on their other accounts.

If we can find just a few of these people and have them tell their story, I will include at least some of them in my book, "The Cat Who Ate Chase Bank". Please help. If you can investigate a bit, please do so. If you know someone who still can benefit by the five year plan, please tell them about it as well.

Don't forget, the Cat Who Ate Chase Bank, the book, coming out in early 2010.