• Home
  • Bankruptcy in Brief
  • ABC’s of Bankruptcy
  • Considering Bankruptcy
  • True Stories
  • Chapter 13
  • Blog
  • About
  • TOC

Northern California Bankruptcy Lawyer

On The Bankruptcy Soapbox

The Soap Box
  • How bankruptcy works
  • Mortgage Matters
  • Consumer Rights
  • You & Your Lawyer
  • Small Business
  • Family Law

Credit Cards Call the Shots

By Cathy Moran

The arbitrariness of the credit card world is highlighted in a recent Consumer Action study of reasons a credit card issuer can raise the interest rate on your card. Adjacent to “too much debt” as a reason for a rate increase was “too much credit available”! So if you’re a good credit risk in the eyes of other credit grantors, you deserve to pay more on your existing balance? The mere inquiry about a car loan or a mortgage loan will cause 24% of banks to raise the interest rate.

More support for my contention that the consumer is a pawn in the world of credit cards and the safest place is on the sidelines of this madness.

Cathy Moran

Consumer Action’s report

More from the Soapbox

  • Bankruptcy Drives Credit Score SurpriseBankruptcy Drives Credit Score Surprise
  • Inherited Homes Now Come With Full Measure Of Consumer RightsInherited Homes Now Come With Full Measure Of Consumer Rights
  • Debt DebilitatesDebt Debilitates
  • Don’t File Bankruptcy In DecemberDon’t File Bankruptcy In December
  • Unicorns, Wookies, And Medical BankruptciesUnicorns, Wookies, And Medical Bankruptcies

Filed Under: Uncategorized

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

What Happens To Your Bank Account in Chapter 13

Those considering filing a Chapter 13 bankruptcy worry about "what happens to my bank account?" Will the trustee take all the money? How do I pay my living expenses after I file? The short answer is: nothing changes. The account remains yours and available for all the expenses of day to day living. Because, … Read more

More Posts from this Category

643 Bair Island Road
Suite 403
Redwood City, CA 94063
Phone: (650) 694-4700
Phone: (650) 368-4700

Categories

All content copyright © Moran Law Group. All rights reserved.