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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ldo79 who wrote (362241)3/14/2008 1:48:52 PM
From: stan_hughes  Read Replies (2) of 436258
 
Oh man, this is bringing back a lot of memories of the early 1980s for me, and they aren't pleasant ones.

Back then I had a small unsecured line (at a bank that shall go nameless) which had been in place for several years without incident. Then I (a) moved to a better house, paying 40% down, because I (b) had secured a better paying job and also wanted to roll my equity into a bigger house. My mortgage was with a different institution than the line, which was in effect really a signature loan based on my strong credit rating.

So guess what happened when I updated everybody with my new address and new work numbers? The bank where my line was advised me it was cancelling my line without warning "because I could no longer demonstrate stability of residence or stability of employment" or something similar to that crap.

Because I didn't see any of that attitude coming I was not prepared to immediately repay or replace the line, and I certainly wasn't going to take out a second -- so I almost had to get on my knees and grovel in order to get him to leave the line open. Eventually he agreed, but he tagged me for a rate increase of an additional 350 bps for his trouble.

I was so pissed that I set about scrounging every last cent I could while cursing his name every day for the next four months until I was able to go into the bank to do two things:

(1) pay off the line completely, and
(2) tell that bank manager to FOAD

It was one of the best days of my life
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