Debtors Revolt!!!!!!!!!!!!

I might even be inclined to take it a step further, especially with the gross irresponsibility of the banks.

Everyone default, just don't pay them any money - if you have money withdraw it, see what happens? Seemingly, I've seen world events get a lot worse over the past 12 months, (lol) if ATS is anything of a yardstick then the **** is already starting to hit the fan, how about the people refuse to take it?

reply to post by jfj123


I noticed however, that in your pride, you failed to note my 'suggestion' that you asked for.
I'll reiterate... you don't need a petition.
If you feel strongly enough that you are on the side of justice, you can just serve them notice and they will have no choice, through law, but to comply with your request. Or your demand, however you word it.

reply to post by jfj123


Yeah that will work. Stop paying them until they cave in and let them charge you over the limit fees, interest, etc. and finally they sue you in a court of law and garnish your wages here in the states anyway. Don't do that. Suck it up, pay it off and don't use them anymore. You can't win with the attitude "You will do it or I won't pay you". You agreed to be responsible and pay back the debt in a reasonable amount of time. Reasonable to you may not be reasonable to them. Pay them what you owe them.

Originally posted by JayinAR
reply to post by jfj123

 

As I said, we do fine.
We don't live beyond our means.
Sorry that you do.
Good luck to you.

I feel you are about to lose much.
Much of nothing.

Again, keep in mind that the only reason you have your safe job is because someone else is taking the risk so before you condemn people like myself, realize that you are where you are because of people like me.
YOU ARE WELCOME
And no I don't live beyond my means in any way. My credit purchases are related to my business. The vast majority of businesses MUST utilize credit cards as a short term loan solution to purchase material until the invoices are paid. If you don't believe me, ask every business person and they'll tell you the exact same thing. As a matter of fact, go ask your boss Then thank him for taking that risk for you so you have a job

reply to post by jfj123


My supplemental income is gained through a business venture of my own.
Which I do not utilize a line of credit for.

I suspect that within a few months time, I will be able to drop one of my two jobs and within 2 years, I will be independant completely.
Without a line of credit...
But, as you were saying....

At the end of the day, I don't have any credit and I don't need it.

reply to post by parrothead0333


If it is credit card debt they can't touch you in a court of law, credit card debt is unsecured debt, the only way they can get their money if you choose not to pay it is for you the debtor to file bankruptcy, then they are one of the last on the lists.

Doesn't matter, 200k in credit card debt a million, it's all unsecured there is no recourse for them to recoup their money other than to hope you file bankruptcy or pay them back.

Now secured loans is another situation, but credit cards that is the way it works.

Originally posted by jfj123

Originally posted by Funshinez
reply to post by jfj123

 

This isn't about neighbors borrowing weed whackers.

It's whats known as an analogy

That's whats known as an appeal to ridicule.

First thing is first.
For a group of people to make a run on the banks (which is what we are talking about here), people need to liquidate any bond holdings they have well in advance.

If this applies to anyone in the group, it should be considered first and foremost.

In fact, if you still have bond holdings, I'm wondering why at this point.

Originally posted by JayinAR
reply to post by jfj123

 

My supplemental income is gained through a business venture of my own.
Which I do not utilize a line of credit for.

I suspect that within a few months time, I will be able to drop one of my two jobs and within 2 years, I will be independant completely.
Without a line of credit...
But, as you were saying....

At the end of the day, I don't have any credit and I don't need it.

If you're going to have a business of any size, you'll need credit or you'll have to empty your pockets to pay for supplies. Simple as that. If you keep emptying your pockets before payments come in, you go broke. So the reality is, you'll be out of business pretty quick.
A very, very small business such as selling crap on ebay or tupperware or avon, can get away with paying cash for supplies but building a decent size small business requires credit. Believe it or not but it's true. I know literally dozens of business owners in all fields from construction to restaurant owners and they must rely on credit. Don't believe me, go into any business and ask for yourself and if they don't look at you like you're a clown, they'll tell you the exact same thing as I have. I've been in business over 13 years so I know what I'm talking about.

reply to post by jfj123


That is a complete misnomer.
It depends on where and how you get your supply.


I don't have credit.
I do alright.
I don't PROJECT having credit for the forseeable future.

Sorry you aren't in the same boat, brother.
I think the situation is kinda' comical.

Hell, I can take tissue paper, foam balls, string and sticks and make a KILLING at the crafts fairs.
For instance.

It depends on your BRAINS not your economic knowledge.

I can take pine lumber, a band-saw, some nails and router and make a killing also.

These things I have done. And turned INCREDIBLE profit. So much so that I don't need credit.

I stay afloat without it. And I do fine.

reply to post by jfj123


I guess you don't realize that some people can run their own business with minimal overhead costs covered out of their own pocket.

Originally posted by JayinAR
reply to post by jfj123

 

That is a complete misnomer.
It depends on where and how you get your supply.

Not at all. You have 2 options.
1. You use credit.
2. You pay cash.
It doesn't matter where you get your supply.

Sorry you aren't in the same boat, brother.

Oh I could drastically shrink my business and thus my profit if I paid cash for everything but I am making much more money this way. I don't want to be on your boat

reply to post by jfj123


Hahaha... wow... If you are making such wonderful profits how come you can't expand your business without credit then??

reply to post by jfj123


But, as I said.
I don't use credit.
In my ventures I make enough to cover my cost.
I take it one step at a time. In the begining the idea was "if I sell enough T-shirts to fund the venture + the next go-around, I'll do it again."
Little did I know that my first batch of tees made me that much and more.

So I still do that little by little as I continue to work my jobs for income and insurance...
Eventually, I won't need any of it. I'll have a model ready that doesn't need any credit to run.

The problem most face is that they throw their eggs into a basket way too early...
Plus, I work about 3 other angles also. With partners.
We do just fine.

With no credit.

It takes smarts, like I said.

Originally posted by Anonymous Avatar
reply to post by jfj123

 

I guess you don't realize that some people can run their own business with minimal overhead costs covered out of their own pocket.

As I've stated, the vast majority of real, viable businesses REQUIRE credit of some form to operate. I'm not talking about 1 guy and a small lawn mower, I'm talking about a legit business.

Sure a tiny business can exist by paying out of pocket but if you're buying $5000.00 in material every week, try doing it. It doesn't work.

Unless you've owned a successful, decent sized, viable business, you won't get it.

There is a glaring error in that rant. She can pay off the principle at any time and completely eliminate the interest. Then she can just cut up the card and cancel it. B of A gets no interest and she no longer does any business with them.

The fact she want's a reasonable payoff is that she can not pay or she would.

Only one of my cards raised my rates. I canceled it and they offered me a card at a great rate the next month. That makes me skeptical of these rants we see so often.

It is really simple. If you don't run up credit card debt you can not afford and you pay in full every month, you pay no interest and only pay a small annual fee for the convenience. It is that simple. Any debt you run up you can not afford is your fault. If they raise your rate you cancel the card.

The banks can only get to you if YOU let them by spending more than you have.

She made that video because she knows she is not going to pay so she is looking for others to agree to calm her conscience. She clearly spent more than she could afford or she would not be paying any interest at all. What part of that is not her fault?

Yes B of A is clearly a bad Institution. Yes the Government should have let them fail. No this woman's overspending is not their fault or responsibility.

Originally posted by JayinAR
Hell, I can take tissue paper, foam balls, string and sticks and make a KILLING at the crafts fairs.
For instance.

It depends on your BRAINS not your economic knowledge.

I can take pine lumber, a band-saw, some nails and router and make a killing also.

These things I have done. And turned INCREDIBLE profit. So much so that I don't need credit.

I stay afloat without it. And I do fine.

That's not a viable business. That's making a few bucks on the side.
Do you pay taxes?
Do you do your own accounting or do you hire an accountant?
Do you have a corporation? S, C, LLC ? etc..
An EIN # ?
How do you figure your wages so you can write a paycheck?
How do you get the money into your corporate account?

I could go on for pages if you like

[edit on 9-9-2009 by jfj123]

reply to post by jfj123


Who in the hell is talking about 5,000 a week in material?
I work on my own.
5,000 a week would kill me. I wouldn't be able to handle the work-load.
I don't even need HALF of that to do JUST FINE in *my* economy.

I don't think you have any clue.