ADVANTA BUSINESS CREDIT CARD WILL FORCE SMALL BUSINESS TO FILE BANKRUPTY THROUGH SUDDEN UNETHICAL APR INCREASE Draper Utah

I am a small business owner, a Real Estate and Mortgage Broker that is struggling to make ends meet. My company and personally are facing great financial distress, however, I have never made a late payment to Advanta. In lite of the mortgage modifications I am processing for myself, my credit score has decreased, but again, I have never paid late to this company, nor have I used my card for that past few months as I respect the credit Advanta had given me and I honor the relationship and trust my creditors have extended me. As a conscious consumer, I respect my creditors and only borrow what I am able to repay.

However, Advanta has raised my APR to 27.18%, making it impossible to even make the minimum payments. I have called several times to request a reduction in the APR and I get the same answer every time, no lower rates available. I have always paid my payments on time and have been since I was given the credit.

If my APR is not lowered to a reasonable rate, I will have no choice but to file bankruptcy to protect me health and sanity. A person can't get out of a hole where the digger is digging you deeper. All of these mayor companies are getting a bailoutwho will bail me out! But my only questions is why is the US Government allowing this type of predatorial lending?

Ivette
S.W. Ranches, Florida
U.S.A.