Submitted on Thursday 24th November 2011
Published on Monday 28th November 2011
Current status: Closed
Closed: Wednesday 28th November 2012
Signatures: 3
We demand stricter regulation of the credit card industry
Credit card companies are flippantly increasing APR from 13% to 26%+ & applying the revised APR to any outstanding balance.
Further more banks are selling debt on to other companies with out notice or appeal.
This is causing untold long-term misery, illness through stress and, no doubt, suicide.
Therefore this petition demands that the government
1) Cease organisations ability to increase credit card APR percentages on existing balances.
2) Any payment of debt should pay the most expensive APR segment first.
3) If a credit card account is closed for any reason what-so-ever, by either contractual part, then it should immediately be considered to be a loan with the APR reduced to the lowest industry standard at that time for an unsecured loan or indeed the lowest that the original organisation offers (which ever is the lowest)
4) Credit Card debt should not be able to be resold.
You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!
52.15.205.82 Tue, 19 Nov 2024 20:44:03 +0000
