Originally posted by: jjsole
Originally posted by: Amused
Originally posted by: jjsole
Originally posted by: Amused
Originally posted by: jjsole The banking industry has gotten out of hand...totally raping customers while their profits are absurd. They are charging customers for everything...atm's, getting a copy of your checks, visa late fees are $30+, they double your interest rate on the first late payment...they suck!
I haven't paid a single fee at my bank in years. Checking: Free Checks: Free Copies of checks: Free ATM: I never use another bank's ATM, so it's free Late fees: If you can't pay as agreed, you deserve them. I never have one. Higher default interest rates: Same thing. YOU broke the original agreement, and the default rate was explained to you when you signed up. I've never had a CC go to the default rate. The only people getting "raped" are those too stupid or lazy to figure out how to avoid charges. But I love those folks. Without them, I'd have to pay fees. At any rate, how do you expect banks to provide all these services without income?
Thats bullsh!t. 90% of the world pays a bill late once in a while, for some reason or another, and they use this to exploit that. If you think those people are stupid and lazy you living on a different planet.
90%? Is your ass sore after pulling that figure out of it so quickly? I haven't paid a bill late in over 10 years (and then, it was a utility bill). I guess I'm a freakin' alien, huh? They list the fees up front. You sign the agreement knowing the fees. I see no exploitation. I only see someone who broke an agreement and is paying the PREVIOUSLY AGREED UPON price for it. BTW, late fees are not exploitation, they are punishment for not paying on a timely fashion. What other alternative do lenders have? They can't hire goons to break your legs, and late payments cost them money. They have two options; Charge you a fee, or default on the loan and take you to court for the entire outstanding balance plus legal fees. Which do you prefer?
The agreements are changed it seems every frickin year, but by accepting the agreement to begin with, your accepting that the agreement will can be changed anytime.
As for you not paying a bill late in over 10 years, some people have a life. Not to mention a wife, or kids, or medical bills, or getting laid off, or elder care, or sudden transportation costs like a car dying, or all of the above to address. Its not about being stupid and lazy.
The banks used to be there as an institution that would help people be financially responsible with their money, and they would profit by giving you some interest and using your money and selling it to others or investing it in a higher rate of return and so on. But somewhere along the line they realized that their most profitable customer is the irresponsible one who can't manage his financial issues very well and they began to actively seek these people, as well as make it easier for others to be "irresponsible" with their finances by ratcheting down the customer agreements and charging for more for everything and adding new charges to everything else, late fees included but not exclusive to late fees.
Meanwhile they pursue making it harder for you to seek bankruptcy protections so they can have their cake and eat it too. Fvck them. Its become one of the sleaziest industries in corporate america.