Description: This passage is mainly about surge credit card login. In this passage, the writer explains why and how an individual suffering from too much debt can substantially reduce or eliminate his or her credit card debt.
My name is Karl Pearson, I’m the first attorney with YouTube telling homeowners to stop paying their mortgages, and my most recent article is to stop paying their student loans, you’ll be pleased to hear that the advice to stop payment is true for many outstanding credit card debts, you probably should stop making your monthly payments on your credit card, let me explain under what circumstances and why.
Now here are the circumstances, I have these in mind, when a person starts with a credit card, he or she should stop making his or her monthly payments on their cards if you are financially strapped for reasons beyond your control, such as you are let go from your job, you suffer an injury or disability causing you to have reduced income for more than several months, your savings are substantially reduced by adverse market conditions created by the banks or by health care costs.
For example, if you do not have savings, you can make the payments without considerable sacrifice to yourself or to your family, you have been making payments on your credit cards with increasing difficulty each month, you have stopped making charges on your credit cards for at least several months after your last payment to the credit card company, this gap is important so that the credit card company does not look upon you as defrauding them by charging expensive purchases followed immediately by non-payment or bankruptcy.
You want to make sure that you are not creating any appearance of fraud or any actual fraud, for many persons, the prior point number is not a problem, because the cards have been maxed out for several months or longer, and the credit card company keeps reducing the available credit to you so that you have no credit left.
No matter how much you pay on the card, in many cases the credit card debt is part of your student loan debt which is part of your family’s mortgage debt as well, so your family’s mortgage debt is contributed to your student loan debt as well as your credit card that contributed to your overall student loan debt.
You should consider keeping one or two credit cards, the ones with the least outstanding indebtedness, and focus on getting rid of your credit cards with the largest outstanding obligations and the highest interest rates, you should consider that as well as a consequence of default on some of your credit cards.
The credit card companies will continuously decrease your available credit on the remaining cards, but not to the point at which you will stop paying those cards as well, don’t play around with a credit card involving debt, which to you is insignificant, deal with the credit cards that are oppressing you, because your financial ability is unable to pay the cards, keep these small debt cards so that you still have some credit cards to use.
You don’t have to stop paying on all credit cards of a single issuer, you can stop on some and continue to pay on others from the same company, in what might be considered as a subtle Mexican standoff or stalemate.
Now here’s the typical case immediate result, here’s what happens when a person meets the above criteria and stops paying his or her credit cards, the individual might be paying $800 a month on his or her credit cards, but effective immediately or at the two-month point discussed above the individual.
It has 800 dollars more per month to spend on other things, such as higher quality food, more food, extra money to spend to try to obtain employment additional employment or create self-employment to set aside for taxes, and avoid hassles with the IRS or additional books or software for your economic improvement or enjoyment.
The cessation of payments will add dramatically to the quality of your life, especially at that time of the month when you would otherwise be writing checks to the credit card companies, you’ll find that to be very true, you will probably find a renewed in yourself, which is similar to what happens when a person files for bankruptcy and gets rid of his or her outstanding debt, except for monies owed for criminal conduct willful torts, such as arson assault and battery.
The government has added government student loans, now this is a note about your credit rating, because I know that’s a concern to everyone, several years ago a person would be in worrying about that his or her credit rating things have changed dramatically, since then we have the US government losing credit rating, probably we have obviously a fault in the way.
Credit ratings are set up, we have the largest banks of all being unable to pay their debts without massive infusion of capital by the government, there are substantially fewer jobs available regardless of your credit rating, and many jobs no longer pay a decent wage, many people can’t pay their debts, and the credit card companies know this, and they all have programs for settling credit card debt.
Self-employment doesn’t need a good credit rating, 10 million homeowners have lost their homes or are losing their homes through foreclosure representing about 33 million Americans or 10% of the country, there are a lot of people that have bad credit ratings, about 5 percent of credit cards are behind in payment, with perhaps 45% people needing the stop payment. But they are afraid to do.
So more than 7 percent of student loans are in default with millions, more postponing default by exercise of payment delay the options that put off the inevitable, what you will be doing in getting a reduced credit rating is to join the largest Club in the country with little chance that you will be heard, and with a greater chance that the lower credit rating will help you reduce all your debt.
Don’t worry about credit card companies being unable to deal with persons with lower credit ratings and any companies for that matter, they deal with government banks GM and other financially challenged organizations all the time, including the people who previously filed for bankruptcy and will do.
So with consumers having reduced credit ratings, you even see advertisements from auto companies, don’t worry about that your credit score which is bad will finance you, they’ll have to change their method of scoring in order to retain and gain the business.
Credit ratings are a boogeyman intended to keep you in economic slavery to the banks, but if there are no jobs for you to get, and if you are left to scrounge for yourself, employment credit rating is as little as yesterday’s newspaper to many people, now this is what the credit card company will do.
Here’s what will happen after you stop paying your credit cards, one thing is that you will get mail emails and telephone notices by the credit card company that you are behind in your payments and ask you to pay at a certain point, you will get telephone calls from the credit card company asking you to content and contact them to talk about your failure to pay, and to suggest that the credit card company.
The caller can help you, and you should call him or her and deal with this problem, at this early stage you probably should not answer or return the calls, and you should probably get caller ID installed, if you don’t have it already to enable you to determine what numbers the credit card collection calls are using, so you can avoid answering these telephone calls in the future.
The major credit card companies have been discovering that at some point perhaps three or four five months after you stop paying and start making settlement proposals, they often say that they are your last opportunity to do something at some point, you should pick up the telephone and see what they propose to settle.
If the proposal is merely to lower your interest rate, forget it, you want something which eliminates a substantial part of the credit card day for sooner or later the banks, because banks own most of the credit card companies other than discovers, because capital one is a bank, which will call or write to you and make a more attractive offer to give you an opportunity to pay a percentage of the outstanding amount, such as they say 70% in three monthly installments.
They’ll want information about your finances, they can conclude that you are in fact unable to pay self-employed, people can’t produce this information, because they may have high gross income and little or no profit, and there’s no need to have the credit card company tell a small business person that he or she should reduce advertising expenses, or payroll to find the money to pay the credit card.
The obligations are not workable, and they are fishing on their parts, and there’s no reason to give that information to the credit card company or the collection agency, finally in your negotiations, you should try to find an opportunity to tell the bank that you will be willing to pay 20% of the money owed the bank other than discovering.
Capital One will probably settle for that percentage in three installment payments using three telephone checks drawn on your account, which must be clear, or you go back to square one and owe the full amount plus what the bank has collected and plus additional interest on your part.
If the bank probably discovers or Capital One calling itself a hard money lender refuses to settle for 80%, so which is probably going to be the case is that you can expect to be sued at some point, but you can postpone the suit for a while by playing telephone tag games with a collection company or companies, which will make a series of inconvenient abusive calls to you.
Here are some points for you to remember about these collection calls, try to identify the telephone numbers being used by the collection company, and make a record of each of these numbers, you will know who not to answer when you have caller idea ID, and as a defense to the lawsuit, that will probably be brought against you a defense of collection company abuse and harassment among other defenses.
You can put the telephone number on the federal Do Not Call Registry at do-not-call gov, but this is apt to precipitate the expected lawsuit earlier than you want, so don’t do that at this point, don’t engage in any discussions with these callers, because they will write down what you say, what you say is admitted to against you in the court action, and probably say things that you did not even say to improve their case for the credit card company.
Through line under oath, it is better not to answer and not to say anything at all, such as quote that I would like to pay you, but I don’t have the money, now that would be an unfortunate admission that you owe to mine, so don’t talk with the collection people, they are fronts for the lawyers who will be suing you and may even be the essence of the claim against you.
Look at your state laws about what constitutes abusive collection practices, searching for a quote that abusive collection practices unquote New York, or Montana which practices might include many calls per day, the use of different calling telephone numbers, the use of multiple collection agencies, and deceptive messages false and deceptive names on the telephone, and making calls to the debtors place of business to name some of the practices, which can be considered as abusive collection practices.
Make sure that you keep a record of these events for later use in your defense against the anticipated lawsuit, and the basis for counter claiming against the plaintiff for abusive collection practices, and possibly lucrative punitive damages against them, at some point you probably will be served with a summons and complaint by or purportedly by the credit card company.
This is the start of a period with no collection calls, but it is also the start of your counter-attack, you now have the right to bring a counter suit against the credit card company, as a counterclaim, I have a form of a Suren counterclaim in my ebook, it entitles how to get rid of your unwanted debt available for 995, at how to get rid of your unwanted debt com for you or your attorney.
If you hire an attorney to defend, you will probably be about twenty five hundred to three thousand dollars to get rid of a substantial amount of credit card debt, you will want to fire off discovery requests to the credit-card company, a set of these discovery requests is also available in my booklet called How To Get Rid Of Your Unwanted Debt.
The discovery requests are designed to make the credit card company reveal its worst secrets about how they are inviting violating the law in their credit card collection practices, and how they lack standing to sue you something which the credit card companies and their attorneys would probably not want to divulge.
By defending against the lawsuit, you can in some cases obtain a judgment that you don’t owe anything at all to the credit card company, and the credit card company owes money to you, or you may be able to set up a lawsuit on reasonable terms, or you might get a judgment against you, which in turn you can try to settle, because you don’t have the financial ability to pay it.
So in summary, stop paying your credit cards under the standards that I propose above, don’t jump at the first chances to settle, they will be demanding too much, wait for three to five months, then you are proposed to pay 20% of the obligation over a three-month period starting in January if possible, and the reason for that is that you will be receiving a form 1099, which is taxable income for you in the amount of the debt that you will have to deal with that later.
I discuss how to get rid of IRS liens for as little as three cents on the dollar in my ebook, how to get rid of your unwanted debt to put all this in perspective the banks on the country, and they are able to reorganize their finances by paying themselves, trillions of your tax dollars for which you are still obligated to pay back instead of the bank’s and the government has left to you to your own devices.
Try to settle your debts, and I have explained how you can do this step by step, there is no reason that you can’t scale down your debts in light of the economy’s deterioration, so you can avoid being a slave to the banks and credit card companies.
Now breach of agreement by credit card company is an agreement that your credit card obligation can be broken, and there are consequences, when you don’t pay your credit card debt, the credit card company Bank or collection agency will argue that you have broken the agreement, but about the credit card company, what can you argue about?
As Elizabeth Barrett Browning has said about someone other than banks or credit card companies, I’m sure how do that, let me count the ways, here are the ways in which the credit card companies and banks may have broken their agreement with you.
The credit card holder wins, the credit card company may not have all the records needed to support its lawsuit, the bank may have changed your written agreement to make your agreement to pay the credit card company marketable from a securitization standpoint, but which may make the agreement unenforceable.
The assignments of your credit card obligations may not have occurred or may have occurred through an illegal forged or fraudulent way, the credit card company may owe the credit card holder the duty of negotiating a loan modification agreement in good faith particularly, because of the bank’s participation in destruction of the nation’s economy, which makes you unable to pay, and that will provide you with a defense.
To negotiate in good faith will be a defense arguably to the note, and not necessarily a final point, the bank may be charging illegal usury as interest on the loans in spite of various rulings, which permit national banks and credit card companies to charge user a 16 percent.
In New York, banks are charging 31% on their credit cards, perhaps these old decisions can be reversed or perhaps they don’t apply, because the bank or credit card company doesn’t have its headquarters for the credit card loans in Delaware or South Dakota, the two states have no usury laws because of the changes in economic conditions.
Maybe these decisions do not consider the fact that when you have a destruction of the economy, this exemption from Ussery law doesn’t apply, we’ll have to find that out in court, and to add one more thought number, perhaps you have made various payment that have not been reflected properly.
So when you defend the anticipated lawsuit as to credit card companies that fail to settle with you for 80 percent, this will cause your financial problem to be considered as a whole, including your inability to pay the risk that you may be correct as to some of your claims or defenses against the bank, and the word credit card company and a desire to end the litigation through a reasonable settlement, which you can not achieve through negotiations.
So I say that the credit card holder should stop paying on the credit card debt, I’m saying that this will lead to debt elimination or reduction through pre-litigation settlement or through a lawsuit followed by settlement, or at worst a judgment followed by settlement, so you now know how you can end your economic slavery caused by your oppressive credit card debt.
Stop paying, wait for three or four months, try to settle at 80%, or wait for a lawsuit against you, and then settle the suit, you can get rid of your unwanted debt, if you take the appropriate action, let me know how you succeed, I’m interested and maybe I can modify some of the things and I can tell people on what they should do.
If you have any questions, please give me a call, I’m able to represent credit card holders in any state in the United States using local counsel on a pro Hawk VG basis, I’ll consult with you free of charge to discuss your own situation, my telephone number is two one two three zero seven four four four four, and my email address is Carl purse 2 at gmail.com.
You might also be interested in purchasing my e-book late available for immediate download for $9.95 through PayPal, or credit card how to get rid of your unwanted debt com, that’s how to get rid of your unwanted debt dot-com, the book has various forms including a form of complaint against a student loan lender.
The e-book and and defenses are as to claims made by a credit card company, which covers mortgages credit cards, student loans and IRS liens, I look forward to hearing from you, my number again is one two three zero seven four four four four, thank you.