Hi there. I am new to this board AND so glad I found it. I have a question. I won't go too into our history, but my husband was unemployed for three years (actually he was a student so he was COSTING us money), I was supporting us and not doing a very good job at it. We rationalized that the hit we were taking would be recoverable, it was more important that he redirect his life and find a better purpose. He is employed (yeah) and has been just since Sept. I managed to pay all bills for the three years, although late many times, and not OPEN any more debt, but ran the HELOC on the house to the max as well as the CO CC to the max. We did borrow $5000 from my mom to get us by in the end because it was getting so tight. I NEVER paid my mortgage late, but was late on the HELOC and the CO and another CC I have from GE Money. However, I can honestly say that last month was the first month in a long time where every bill was paid on time, no late fees for ANYTHING, and no rolling over a payment and making a double payment the following month. My husband's truck is paid off, I have a car payment (which has been late). Some of my lates have been in the 90 day mark. My credit is 535.
Here's my issue. Last year I asked CO to lower my 23.15% interest. They told me that they could not because I had to have 12 consecutive months with no late payments (which I now do), so I called them and they STILL won't lower it. No explanation, just that they cannot do it. I also asked GE Money to do it and they won't either. I have 15 years history with CO, and have frequently run it up and then pay it off. I have NEVER had their interest this high. I mean, at this rate, it will take us forever to get these paid off. How do I get them to lower their rates??
Thanks.
Elizabeth
