I will be calling them on Monday to ask what the reason for this increase was. I was never late for any payments. Also, I heard that if you decide to reject the changes and you go into a repayment period, the minimum payment will double. Is that true?

If all else fails, I’ll probably try to get a loan from my local credit union. Hopefully they approve me, because my debt to income ratio is pretty high.

Any suggestions in what the best course of action will be? What if I try to negotiate with them? Do you think they will lower my rate if they see that I want to close my account?