line of credit cancel

cbecerra65 · Joined: 28 Oct 2009 Posts: 1 1.41 Dollars($)

My questions pertains with a line of credit I opne back in 1997 with WAMU. Once the collapse of WAMU began they cancel my line of credit. Under the contract I'm entitle to fix the interest rates any time I choose. For the last year I been trying to do just that, fix my rates; However WAMU, now Chase claims that I can not fix my rates because my account is block. Im sure what they are doing is eligal since my contract stipulates I can fix my rate. I can not affort a lawyer and was wondering if there is any agengy that would put presure on chase to unblock my account. Any information would be appreciated.

Thanks

.Cesar

Niicss · Posted: Thu Oct 29, 2009 1:49 am Post subject:

I do not think there's any agency which can pressurize Chase to unblock the account and fix the rates. You will have to negotiate with your lender regarding this. You can send them a copy of your contract and check out what they have to say in this regard. It would have been better if you could have taken the opinion of an attorney in this regard.

Guest

I have pointed out to chase the contract stipulations, but they just give me the cold shoulder. I can not affort a lawyer, but I thought perhaps the better bussiness beureau or some other agency might help.

gmakerley · Posted: Fri Oct 30, 2009 1:44 pm Post subject:

in case nobody noticed, the credit card companies have run havoc over the american public in the last several months. our ever-so-wise congressional leaders saw fit to enact legislation that wouldn't take effect for several months, thereby leaving the companies a plentiful amount of time to take advantage of the old laws. they've been ramping up interest rates, shutting down credit lines, enacting new fees at greater levels than ever, and on and on.

there's a possibility that congress can expedite the new bill, but it's going to take every single one of us writing to our congressional delegations to do the job. have you reached out to yours lately?

gmakerley · Posted: Fri Oct 30, 2009 1:45 pm Post subject:

and in this particular case (sorry, but i got carried away), i don't believe you have a leg to stand on. if you go back to your original contract, you'll probably notice that they've given them leeway on making changes at any time.

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