Washtington Mutual Bank - No Bail Out for Consumers

I am recently unemployed and still paying my credit cards every month on time, but as the economy gets worse, so will it be for me and for many other American Consumer. As per the advice of many credit card experts, I have called Washington Mutual to see if they can help me reduce my minimum payment since I have been laid off. I have been a costumer for over ten years and over the years, I have paid my debt in full and now due to rough times I find myself again in debt. When I explained my situation, telling them I want to continue paying down my debt, but it will grow difficult in this economic climate, their answer was a flat NO. “So sorry for your situation, but we’re not in the practice of helping our customers pay off debt, we’d rather make more money off your misery.” Washington Mutual Bank does not offer services to help people with a payment plan. Washington Mutual Bank will not help their customers lower their debt, even if it means slightly lowering interest rates to give their costumers the CHANCE to pay down.

As a reminder to all, Washington Mutual Bank was going bankrupt and needed to be purchased by JP Morgan & Company. Washington Mutual Bank WAS BAILED OUT! So let me get this straight, banks and creditor’s are being BAILED OUT by other companies and the government YET they will not extend the same benefit to their consumers? Something does not make sense! Why doesn’t Washington Mutual Bank just go out and buy an expensive commode for their CEO’s or fly managers in a private jet to a reclusive resort? It begs the question – WHO IS BAILING OUT THE AMERICAN CONSUMER?

When the unemployment rate is skyrocketing and people are having more difficulty paying down their bills and paying down their debts, the banks who are receiving TARP money cannot share with those they are lending? What harm would it be for Washington Mutual to lower my grossly inflated interest rate to give me the opportunity to pay down my debt, while they themselves are getting a handouts from others? This is absolutely revolting.