LOL - My "new" minimum payments

[DivorceRuinedMe]

So my payments were already ridiculously high on my cards b/c of astronomical balances due to my never ending divorce ($800 minimum on Chase, $500 minimum on AT&T Universal). I didn't pay them for the first time last month. I got both new statements today. The minimum on chase is now $2100 (30% apr) and minimum on AT&T is now $1200 (32% apr)! LOL. It just strikes me as so funny that they would kill me like that and I've not ever been late before. What sharks!

I thought you'd all get a kick out of this so I thought I'd share.

[CATCHMEIFYOUCAN]

THAT minimum includes past due amount ??? Guess you already filed ??? If they continue to send you statements its a violation of the automatic stay so save those for future action (if need be!).

Best Wishes, CatchMeIfYouCan

[twuoo]

I just don't understand these stupid rate increases. You'd think someone would get a clue if you missed a payment because you couldn't afford $800, how the heck are you supposed to afford $2100??? That's just stupidity on the part of the cc.

[CATCHMEIFYOUCAN]

If they can get away with it which they do. Thats why I don't feel one bit of remorse for filing.

[lrprn]

What Chase and AT&T did is perfectly legal. Frankly if you read the fine print on the agreement you signed to get the credit cards, most say in the fine print that they can raise your minimums and APR any time they want to with no reason needed. And they don't care that they are probably pushing you into bankruptcy. Frankly the more late fees and APR increases they get in before the debtor crashes, they will typically get more than a few increased payments out of people too ashamed to file until they finally have no choice. And if the debtor files Ch 13, then the cc company just files a claim and gets a portion, maybe all, back of what the debtor owes. It's a profitable financial strategy or the cc companies wouldn't do it.

[DivorceRuinedMe]

I haven't filed yet, nor can I until like October/November so they aren't violating anything yet. And yes, I know that what they are doing is perfectly legal, I just find it amusing. The whole thing is pretty comical to me. I just have to laugh b/c it's all I have left in me. I can't cry or worry anymore - what will happen, will happen and I'll deal with the consequences. I just have to have this attitude or else I think I'll have a nervous breakdown.