Americans Falling Behind on Credit Card Payments at Alarming Rate, page 3

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reply posted on 24-12-2007 @ 12:58 PM by GUICE2

Also....they will never offer me a lower interest rate if i say im going somewhere else. They dont care about that because they are all in the same boat man dont you see? They all share the same reserves that increase by 10% plus the amount of the loan you take out or credit you apply for. They all profit pretty much equally in that sense....the fed reserve act set up a banking cartel at the expense of the us citizens. Income taxes are paid into this system of fraud as well so doesnt that piss you off?

reply posted on 24-12-2007 @ 12:58 PM by apc

reply to post by HighDefinitionFilms

Good advice. At least attempting to fulfill obligations is always better than refusing to. If people are capable of paying, they need to pay. Not yell about the contract they themselves signed.

Could you trim your avatar to 160pixels width by the way?

>
reply to post by GUICE2

Yes, they will. If they won't, transfer it. Take out an loan with a credit union or something. Quit worrying about what the Fed is doing and take care of it.

[edit on 24-12-2007 by apc]

reply posted on 24-12-2007 @ 01:01 PM by GUICE2

reply to post by apc

Youre missin the point man...its not about not wanting to pay.
If i lent you 20 bucks under the pretense that i actually had that amount either in gold or silver and then issued you a peice of paper that said i have it so you can use.....how would you feel when you find out i only held 1% of the amount i lent you but am collecting 15% on the entire "loan"?
I would be pissed.....and when you report me i would go to jail and go bankrupt because i wouldnt be able to "cash" you out so to speak. Yet....these banks do it all the time and nothing happens?

reply posted on 24-12-2007 @ 01:03 PM by GUICE2

Originally posted by apc
reply to post by HighDefinitionFilms

Good advice. At least attempting to fulfill obligations is always better than refusing to. If people are capable of paying, they need to pay. Not yell about the contract they themselves signed.

Could you trim your avatar to 160pixels width by the way?

>
reply to post by GUICE2

Yes, they will. If they won't, transfer it. Take out an loan with a credit union or something. Quit worrying about what the Fed is doing and take care of it.

[edit on 24-12-2007 by apc]

And i could never quit worrying about the fed because this is the reason we all pay income taxes which is a huge portion of my paycheck and makes or breaks the house every two weeks when i pay bills.
We are in debt when we are born (pending future income taxes) and your telling me not to worry about it?
WEll i am worried and im pissed. I want to pay my debt and i want out of the entire system never to take a loan out ever again. The fact that the banks used unconventional, fraudulent means to organize the debt will work in my favor to get the balance down to a more reasonable amount or at least interest free since that is BS anyway.

reply posted on 24-12-2007 @ 01:04 PM by apc

You can't go to jail anymore. It is a civil matter.

You're fussing over where the money came from. At the end of the day, the source of the money doesn't affect you one bit. All that matters is you borrowed money under an agreement spelled out in writing. Nothing changes that. If you want to go on and on about how dirty the Fed is, that's fine. But that is another thread topic entirely. The Fed doesn't make people not pay their loans, nor does it force them to sign.

reply posted on 24-12-2007 @ 01:05 PM by GUICE2

reply to post by apc

I thought yo uunderstood how it worked? Transfering the balances doesnt do anything except cause a larger headache and inquiries on your credit report. Those intro rates only last about a year now adays unless you are a rich bastard.....that is if you are lucky. So this means realistically every three months, i would have to transfer the balances to another card just for the intro rate. Not a good solution....you are just askin to make a mistake and misread the terms and conditions and miss a payment on account of the intro rate cutting off on a certain date. Then you are royaly screwed.

reply posted on 24-12-2007 @ 01:08 PM by GUICE2

reply to post by apc

Your right that they dont force people to now pay ( and remember this is not an issue of not payint), but inflation does....and what causes inflation? FRACTION RESERVE BANKING which the feds do on purpose so indirectly they do have a hand in what is being done. Its not a seperate topic of discussion...how could it be?

Thanks for being so nice by the way and discussing this unlike another member of ATS that insisted on insults when discussing this issue.

I like you

but not in that way of course.....ahahahahah just kidding.

OR AM I

reply posted on 24-12-2007 @ 01:09 PM by apc

Every three months? Where do you get that from?

Open an account (after FULLY reading the agreement and FULLY understanding it). Transfer the balance. Pay it off within the introductory period. If you can't pay it off by then, transfer it again. Don't worry about dings on your credit report. You're getting out of debt, right? A good credit score only helps you get in to debt.

reply posted on 24-12-2007 @ 01:12 PM by GUICE2

reply to post by apc

How can it be a civil matter if they are lending under false pretenses? THen you have to consider all of the implications involved.....sure you have people that sign and dont understand. FIne, they are idiots and when they realize that they made the mistake they want to pay and get out as soon as possible. Yet what if they mis one payment and they are having a hard time bouncing back because they just recently lost their job or dont make enough because of inflation? Then the account goes into collections and you are harrased until they suck you dry. All this based on the fraudulent creation of money and you think thats ok?

reply posted on 24-12-2007 @ 01:13 PM by GUICE2

reply to post by apc

True...but the more inquiries the lower your score and the lesser the intro period.

reply posted on 24-12-2007 @ 01:16 PM by GUICE2

What about accountability?
If you understand the fact that there is fraud involved why is the borrower the only one who is held accountable? We are asked to pay but what if every citizen went to their banks to simply get their own money....not a big deal right? Wrong...the banks dont have it and they cant pay it. THen i say out loud " BUt its my money??!!!" They dont care....it doesnt exist.

reply posted on 24-12-2007 @ 01:21 PM by apc

Two dozen inquiries, sure. But in the FICO inquiries only account for 10% of the score.

Whether or not there is fraud involved with the origin of the funds doesn't affect you. You still have to pay back what you borrowed.

Really, surf the balance if they won't drop it to a reasonable interest rate. Then work three jobs if you must to pay it off before the introductory rate expires. If you keep playing their game you can't really be surprised when you're not making any ground.

reply posted on 24-12-2007 @ 01:29 PM by GUICE2

reply to post by apc

i hear what your saying man about playing their game but why do you still insist that the fraudulent practices dont affect us? Inflation affects us right? WHat they do directly causes inflation which is not a good thing, its only a good thing if you are rich and dont have to wrry about job security, house payments, interest rates, education costsm rediculous utility prices....so how can you say that it doesnt affect us? What about the fact that there is no accountability for it? What about that....they should be held accountable.

reply posted on 24-12-2007 @ 01:55 PM by apc

Can you do anything about it? If you want to hold them accountable for printing money out of thin air, write your congressman. But really the only thing you can do is pay back what you borrowed. Pay it back as fast as possible with as little interest as possible. Worry about fixing your situation before trying to fix the world.

reply posted on 24-12-2007 @ 02:33 PM by KLSyesca

just proves my point that cash is king !!!dont use credit cards anymore cause it is nothing but legal shakedown !!if you have to wait in line a little longer tuff # i will never use their cards.also i am sick of the commercials on t.v. makeing people feel bad about using cash,dont forget you cant buy everything with that card but you can with cash..i still suff my mattress with my money cause i dont trust anyone,when the banks go under so does your money!i can see it now when the banks fall under all them people scurring to get their money..Good Luck!

[edit on 24-12-2007 by KLSyesca]

reply posted on 24-12-2007 @ 02:41 PM by apc

If your bank goes under and it's an FDIC member you've got nothing to worry about. Your accounts are federally insured up to $100,000 per institution. And if every single bank collapses at once and the feds can't cover it, we've got a lot more to worry about than money.

reply posted on 24-12-2007 @ 03:06 PM by GUICE2

reply to post by apc

Your right man....i need to deal with my situation first. YEt all of these issues and fraudulent actions on the part of the central banking system make it so much more harder for one to get out of debt which is why i have this gripe. How do you make this issue clear to that person on the other end of the phone? What should i say to them....im taking you to court to get my interest rate lowered or to settle out of debt? Should i wait several months and not make any payments so the debt can go to collections and then file an order to show cause? THen my whole life is effed with my credit report which will effect the interest on my car loan and that is no good either because i dont necessarily want that loan to go into default.

reply posted on 24-12-2007 @ 03:14 PM by apc

Write your representatives. Seriously. Write often. And vote.

Remember you're just a number to the person on the other end of the phone. They care about you to the extent that they want to keep your business. You may be a borrower but you're also a customer. If they refuse to make you a happy customer, take your business elsewhere.

You might even look into taking out a loan with a credit union using your car as collateral. A loan for the total amount you owe at a payment you know you can afford (and always pay extra). Stay away from debt consolidation places. You would want a straight loan. At the very lease a credit union will take over your car loan at a much better rate.

But if you can pay it, you should pay it. They bank didn't give you the money, they faithfully loaned it to you. When everybody borrows and then fails to pay it back we end up with threads like this.

reply posted on 24-12-2007 @ 03:22 PM by GUICE2

reply to post by apc

Im with you buddy but only up until you make the asertion that the bank loaned me anything....there was no money to give remember? Did you read about fractional reserve banking yet?
I hear you though and your right....i am trying to pay off my debt but i dont think taking out another loan will help because it just perpetuates the cycle of fraud. Credit unions might be different though and of that im not sure but i will look into it.
Of course i do not have the full payment....no one has that much money saved up and if they do they are probably well off and dont need credit cards but have them anyway. If i cash out my 401k trade my car back, liquidate my savings and take my bonus money i can probably come up with close to 25k and i owe 42k.....so my option is bankruptcy.
Not so bad....and i guess having a terrible credit report for 7 years isnt a big deal because that pretty much forces me not to take out any loans or credit cards....

reply posted on 24-12-2007 @ 03:32 PM by apc

Then you're already a co-conspirator in fraud so you might as well finish what you started.

How much of that 42K is car? Sounds like you need to sell the car. Mine is 11 years old and cost $4000 including initial repairs. Works fine.

Sell the car. Leave retirement alone unless you really are going to bankrupt, which is unlikely. Use your savings keeping a couple thousand. Use your bonus. Whatever's left, if you can't manage it surf it or hit up a credit union.

[edit on 24-12-2007 by apc]