News Releases

After Target refused to lower my interest rate due to data contained in my Experian credit report, I decided to stop paying the Target Visa card.  I since learned that the banks actually create most money they lend through accounting entries.  I hope to inspire many millions of judgment-proof consumers to stop paying their unsecured debt.

The 2/19/06 Citi letter advises of the account closure due to “inquiries in the past 6 months and a serious delinquency, and a derogatory public record or collection filed.” The most severe derogatory items were 60 day late payments in early 2005 while the account holder was serving in Iraq.  No collection or public record was on his 2/7/06 and 3/5/06 credit reports.  Why did Citi close the account?

Long-time Chase Bank account holder Ted Pett Jr. filed suit after Chase raised the interest rate to 19.99% and reported the account and balance twice to Experian. Chase also improperly raised the interest rates for some Bank One customers after the acquisition up to 28.74%.