Complaint / review text:
I had taken advantage of low interest rates Chase was offering a couple of years ago for the life of the loan. Now they have increased my minimum payment due from 2% of the balance to 5% of the balance, which of course has more than doubled my minimum payment due. I cannot afford this! The only way they will work with me is if I agree for them to raise my interest rate in order to keep my payment at 2% of the balance due, and that is only for 23 months. And then, if it's not paid off by then, they'll raise my interest rate to whatever the interest rate will be then, which will be over 13%. How can they do this to people in such a struggling economy. Then they wonder why people end up bankrupt! I hope there is something the department of consumer affairs can do about this in order to put a stop to their tactics! Thank you!