Lawyer Fed Up and Not Paying Up

A California attorney is fed up with his high interest credit card -- and he's not going to take it anymore.

Ben Pavone, of San Diego, is saying he will not pay his credit card payments until his creditor Bank of America lowers his high interest rate, which is currently set at 27.99 percent.

Pavone said on "The Early Show" he is also angry that his credit limit has been decreased.

But what will happen if he doesn't pay his credit card bill?

Pavone says that if the bank damages his credit for not paying, he will sue them.

The lawyer says he's been a good customer, and has paid his credit card bill on-time for 13 years. The bank, he claims, raised his interest rate and lowered his spending limit without warning or explanation.

"I think that's what a lot of people are frustrated about," Pavone said. "A lot of feedback coming into my office is these are people with good payment records. Excellent payment records. They've been paying consistently, and have paid for 10, 15, 20 years -- in my case 13 years -- there's really no cause for it. The spread from 28 percent to what they're paying, which is maybe a half percent to 1 percent, is simply opportunism."

But is "this is unfair" a legal argument?

Pavone said Bank of America is prepared for this kind of litigation.

He said, "At the end of the day, the legal system is composed of people, judges, juries, and if they don't have a good enough explanation, there's always a legal avenue to find a way to seek justice."

But is Pavone ready to face the consequences?

Pavone said he's used to being an underdog in the courtroom.

"It's part of my job," he said. "This is really not a big deal in terms of taking an underdog case."