Stop Paying Your Credit Cards! "Good Advice" ?

Discussion in 'Economy' started by hvactec, Feb 28, 2010.

  1. hvactec
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    hvactec VIP Member

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    [ame=http://www.youtube.com/watch?v=XPGcnJZ1_X8]YouTube - Stop Paying Your Credit Cards! "Good Advice" ?[/ame]
     
  2. Sarah G
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    Sarah G When Nothing Goes Right, Go Left Supporting Member

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  3. Care4all
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    Care4all Warrior Princess Supporting Member

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    if really in a bind, i'd say pay your student loans first, no writing them off in a bankruptcy situation...no matter what, the gvt can go after you for them....even after you die, they reclaim the money from your estate.

    then make arrangements w/ CC company to lower your monthly payments...stop charging, but keep them alive.
     
  4. hvactec
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    hvactec VIP Member

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    Every month thousands of Americans are forced to stop paying credit card debt simply because they are out of money. Half a million people in the US lose their jobs every month due to the deepening depression and it becomes a choice of food and shelter or make a credit card payment.

    If you can't pay credit card debt, then what are you to do? First, you must completely change your thinking from "traditional economy" to "depression era" survival mode. Once upon a time, you had great credit, paid your bills on time and planned to live happily ever after.

    Then the "big bad" economic depression formed and the sky began falling, raining pink slips down upon millions of people. Uncle Sam saw what was happening and with his infinite wisdom, he began the biggest "bailout" of banks and large corporations in the history of the world.

    Your life changed from a fairy tale to a full-blown horror classic in a matter of months and now you're being chased by a credit card monster that is determined to eat you alive! Next month this scenario will repeat itself as another half a million people become unemployed.

    The good thing is, the credit card monster can't eat us all. Some people will adapt to the debt collectors strategies and emerge to live a debt free life. Who are the survivors? You might call them the "action figures", the people who take action and defend themselves against collectors

    As you begin to change your thinking about your credit-card-debt situation, you will need to realize that it was not you who caused the economic meltdown, it was the banking system. Further, you must know that after you stop paying credit card debt, the bank "wrote off" your debt and moved on.

    After about six months of nonpayment, the bank sells your "debt" to debt collection companies and that is "the end "of the story for the credit card company. From that point on your account never existed with the original credit card company.

    The debt collector paid a few cents on the dollar for your account information and he will now use your "moral obligation" traditional thinking to scare you into paying him instead of the original credit card company. The original credit card company will not receive a penny from the debt collector should you choose to give him any money.

    The debt collector took a big risk when he purchased your account. His thinking is that he can scare you into paying him and reap a huge profit from you. He will use every legal means available to collect money from you, and many collectors will use "illegal" tactics to extort your money.

    Most people don't know that they too have an arsenal of completely legal tactics to use against debt collectors. Once you show the debt collector that you have absolutely no fear of him, he will quickly move on to those who are sticking their head in the sand hoping he will go away.

    You can easily make the sky fall on the debt collectors head by dropping bits and pieces of the Fair Debt Collection Practices Act on his head one piece at a time and he'll quickly move onto the less knowledgeable, easy prey.

    Arm yourself with knowledge and don't be a "cowardly lion". Follow the yellow brick road laid out for you by the Fair Debt Collection Practices Act and you can successfully end your credit card nightmare.
    Stop Paying Credit Card Debt and Stop Worrying About It
     
  5. Baruch Menachem
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    Baruch Menachem '

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    Not using credit cards or having any debt is the best possible way to work things. You get to keep the payments and the interest for what you truly need.
     
  6. Oddball
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    Oddball BANNED Supporting Member

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    Asswipes who bail on their credit card tabs are the chief reason that the interest rates are so high for those of us who stick by our agreements to repay.

    Dickweeds.
     
  7. jillian
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    jillian Princess Supporting Member

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    it's great....

    unless you ever want to buy a house...or a car...or a plane ticket...or book a hotel room....

    best way to use credit is to treat every card like an american express card that has to be zero'd out at the end of the month.
     
  8. Baruch Menachem
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    Baruch Menachem '

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    At my age, I will not ever be buying a house. Single guy, kids are with their mom, and they are almost out of her house. I don't need a new car, as the one I got is in good condition and will last as long as I keep it oiled. All I will ever need to pay for in the future that is of any great expense is the nursing home.

    But just as a general principle... paying the bills as they come due is the best possible way to go.
     
  9. Neubarth
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    Neubarth At the Ballpark July 30th

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    You need to go to war with the debt collection agencies when they are breaking all of the rules. Rocks through windows can get their attention. I favor civil disobedience as long as it is not too violent.

    I had a former foster daughter who fell behind on her school loan. Since she lived with us five years earlier, the debt collection agency decided to hound our house with calls day and night. After I picked up the second call that I had an opportunity to answer, I told them that if there was one more call to my house for a girl who did not live here, ALL HELL IS GOING TO BREAK LOOSE!

    They soon realized that it was really foolish to call my house.
     

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