I was an Assistant Branch Manager at a small town credit union while my husband was working in the town. We refinanced our vehicles through them at a low interest rate and maybe a year later, we found out that we were being relocated. Approx 3 months later we got a letter in the mail saying that since I was no longer an employee and since we had moved out of state, they were raising our interest rate by 8%!!! Is that legal? I've never heard of that before, and I just got a new statement from them...the rates are horrible and we are planning to refinance here locally, but still wonder if the rate change was justified? Can someone please shed some light?
2006-10-11
00:16:42
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5 answers
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asked by
Mashanda
2
in
Personal Finance