A so-called "Debtor's Revolt" movement is being buoyed by Ann Minch, a California woman who took to YouTube to protest Bank of America's decision to more than double the interest rate on her credit card. After Minch voiced her concerns and frustrations in a YouTube video, saying she refused to make another payment until Bank of America agreed to work with her, the media took hold. Minch appeared on a number of national programs to tell her story.
Ann Minch and the Debtor's Revolt
Within two weeks of posting her story on YouTube, Ann Minch heard back from Bank of America. According to Minch, a BofA official contacted her with an offer to negotiate a lower interest rate on her credit card. In a follow up video also posted on YouTube, Minch mentioned that she was still frustrated with the situation - not just for her, but for all Americans who have had to deal with sudden interest rate increases by credit card companies. In this video, Minch mentions setting up a "Debtor's Revolt" website.http://www.youtube.com/watch?v=cNHd-GBZGQo
Ann Minch's Original Video
In this video clip, Ann Minch outlines her issues with Bank of America and its credit card policies. She explains her personal struggles and calls for a revolt - for people to stand up and be counted, and to voice their own opinions about what she says is an unfair practice by credit card companies. This YouTube video originally aired on September 8, 2009.
Ann Minch's Update Video
In this video clip, Ann Minch offers an update on the status of her situation with Bank of America. She explains that she was eventually contacted by a BoA representative who offered to work with her to resolve her problems. This YouTube video was originally posted on September 19, 2009.
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Fast Facts
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Debtor's Revolt movement spearheaded by Ann Minch
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California woman took Bank of America to task in a YouTube video for dramatically raising her credit card interest rate
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Minch called for all American's in debt who are having issues with banks and credit card companies to revolt
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Said she would not pay her credit card payment until BofA agreed to negotiate a lower rate
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Minch says a website is under contstruction for the Debtor's Revolt movement
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Says the site will feature "a four-point action plan" along with resources and links
