Tuesday, January 5, 2010

Calling James Kwak!! Calling James Kwak!! Someone Needs a Lawyer

Arthur Delaney at The Huffington Post has one of the freaking coolest stories I have read in awhile. A lawyer out in California (now wait, he's not a surfer or member of hippiedom) has told Bank of America he is not going to pay his credit card.

Ben Pavone wrote a formal letter to Bank Of America informing them he refuses to pay his credit card bill, until Bank of America lowers his interest rate, and if they try to tarnish his credit, he plans to sue the bank.

Currently residing in sunny San Diego, Mr. Pavone is enraged about two issues: his interest rate is now 27.99%, and his credit limit, which has been adjusted downward to barely above his current balance. According to Delaney's story, Mr. Pavone got the original idea from Ann Minch of Red Bluff California who set in motion a similar protest on YouTube and got the interest rate on her credit card reduced as a result. Pavones's letter to Bank of America is quoted in Delaney's story:

"For the record, I have a perfect payment history and I have a nearly perfect payment record on my credit"..... continues..... "I have no doubt that you will mark my credit in light of this default, but if you do, I will sue you. I am eager to argue to a court that your interest rates are unfair within the meaning of various state and federal statutes, and anxious to point out that you 'had' to cut my credit limit from 32,000 down to 30,000 at the same time you were borrowing billions from the federal government and paid your executive bonuses in full."

The letter ends with a request to put his rate at 10.99%

Arthur Delaney's story on the woes of Mr. Pavone go on to say he DOES have a decent chance to win his case. Mr. Pavone---we're praying for you brother.

Who says all lawyers are bad???