Debtors Revolt M Beginning

This may not be in the right area so move it as you see fit.....

My wife lost her job almost a year ago; durning that time are bills still had to be paid and our lovely savings account has now dwindle from 20,000 to 900, While she has found another job its an 8.00 job and she hardly gets hours...

In the light of this I started to make phone calls to our debtors, asking them to lower the interst rates and explaining our situation. THere answer was no. Mind you I did not ask for a princepal reduction just interest rates. My one credit card hiked its rates from 10% to 27.99%; We own a timeshare ( I know dumb thing to buy but we bought it 5 years ago) The interst rate on that is now 16%; Our two student loans equal 360 a minth and no reduction there. So when Obama came out with the making home affordable program I thought great now I can get some of this interest knocked off my 1020 Sq foot cape cod... No not this time twice denied...

I began recalling every debtor (after I cut out cable, cell phones, out to eat, vactions, zoo trips, family outings, were down to bare nessecities) and asked them to please cut the interset or at least freeze it for me. The said no... Bank of America told me I diddnt not qualify even though my 90,000 house now is worth 72,000. No one would help me I called Federal agencies seeking intervention to help cut the interst rates (not the princepal) they said no... Even my congressmen told me no...

FINALLY I had enough and called them one more time and told them help or else, HSBC Laughed at me and Bank of America hung up three times. I told each Debtor this, From this day forward I will not pay you any money, Not for the time share, not for my one credit card, not for my school loans, not for my second mortage( which I got only because I couldnt get this house with out one.) Not the car, not anything.(cept my main Mortage.) I closed out all of my bank accounts and opted for a papercheck at work, I have one account and that is at a credit union. this has been two months and now my phone is ringing off the hook with threats about legal action. But yet not one of them has address my intial grievances HELP ME HELP YOU.

They call my house at all hours of the night now-) Letters from lawyers-) I will not pay one more cent to this assholes, I diddnt ask for princepal reduction I ask for an interst rate deduction.... I am finally fighting back and sticking it to the Man....

I have money now but there not getting it, and every transcation is done in cash no more credit loans.FIGHT THE POWER OR COLLASPE IT I am working to do both.



Replaced 'All Caps' in title

[edit on 1/10/09 by masqua]

Good luck my friend. The bankers have the courts in their pockets as well. You may THINK you won't pay, but they will get judgments. They will garnish your wages. One way or another, to hell with your need to feed your family, they will get their money. Good luck.

You can make the phone calls stop by harassing those that call you. I myself have been in the situation where folks would call me all day asking for money I did not have.... Finally I treated their phone calls like 1-900 adult lines. I asked them about what they liked and what not... They stopped calling. They got uppity at first and made sexual harassment accusations at me but then I reminded them that They called me.

The phone calls stopped in the same week I started this initiative.

Food for thought. It won't take care of the bills but it will get those calls to stop.

reply to post by KSPigpen


I thought of that already... I have means to fight them back... I have a friend who is an attonrey and is already representing three other friends doing the same thing... I have already told him whats up and have the calls and memos recorded and saved so He will make this fight hard on them to.-)

reply to post by titorite


He said let them keep calling an record each conversation I have asked them to stop calling and have laid out my greivances with them, and you should here some of the stuff that gets said and goes down-) I cant wait for court-)

This is easy you guys.

I've owed more then 45K for over 7 years now. I gave them all the finger that long ago. I even ended one call for a 5K credit card with, "sue me".

Most of the time I tell this story, the replies I recieve are "you are the problem with society". Well, as we all are starting to see. I'm a pioneer in the war on economic slavery.

7 years have passed, I haven't even paid one cent. I still get the phone calls constantly, and just ignore them. Each year the settelment amount goes down. haha!!

I'm waiting to get sued... Although it never has happened.

These institutions are certain you are afraid of ruining your credit. I believe this is why you see credit report commercial on every channel.

I am very proud of you, make them sue you.

[edit on 1-10-2009 by sticky]

Originally posted by poedxsoldiervet
reply to post by KSPigpen

 

I thought of that already... I have means to fight them back... I have a friend who is an attonrey and is already representing three other friends doing the same thing... I have already told him whats up and have the calls and memos recorded and saved so He will make this fight hard on them to.-)

Are you going to file bankruptcy if it comes to that?

Just curious...no moral judgement from me, I promise...

Originally posted by sticky
This is easy you guys.

I've owed more then 45K for over 7 years now. I gave them all the finger that long ago. I even ended one call for a 5K credit card with, "sue me".

Most of the time I tell this story, the replies I recieve are "you are the problem with society". Well, as we all are starting to see. I'm a pioneer in the war on economic slavery.

7 years have passed, I haven't even paid one cent. I still get the phone calls constantly, and just ignore them. Each year the settelment amount goes down. haha!!

I'm waiting to get sued... Although it never has happened.

These institutions are certain you are afraid of ruining your credit. I believe this is why you see credit report commercial on every channel.

I am very proud of you, make them sue you.

[edit on 1-10-2009 by sticky]

And if you do think you may be sued, do not sign for any certified mail. Do not let them even know you knew about the certified letter. They have to serve you to sue you.

reply to post by sticky


I know right... I feel so much better about life right now... FYI I have packed up stuff I bought with my credit card and have it waiting on them They can have it-)

Originally posted by KSPigpen

Originally posted by poedxsoldiervet
reply to post by KSPigpen

 

I thought of that already... I have means to fight them back... I have a friend who is an attonrey and is already representing three other friends doing the same thing... I have already told him whats up and have the calls and memos recorded and saved so He will make this fight hard on them to.-)

Are you going to file bankruptcy if it comes to that?

Just curious...no moral judgement from me, I promise...

Speaking of bankruptcy, has anyone else noticed that the bankruptcy laws were changed right before the start of the economic downturn? I do not think that it is a coincidence.

Originally posted by titorite
You can make the phone calls stop by harassing those that call you. I myself have been in the situation where folks would call me all day asking for money I did not have.... Finally I treated their phone calls like 1-900 adult lines. I asked them about what they liked and what not... They stopped calling. They got uppity at first and made sexual harassment accusations at me but then I reminded them that They called me.

The phone calls stopped in the same week I started this initiative.

Food for thought. It won't take care of the bills but it will get those calls to stop.

This is awesome. If you work, you have cash. Pay your mortgage so they don't forcfully evict you and tell everyone else to "GET IN LINE".

Most people pay these debts out of fear, not realizing that when you owe a credit card 3K and stop paying it, they wont invest the time and lawyers to sue you. It ends up not being worth it, ok so they get a court order to garnish your wages, If you made megabucks to get the money back in a timely manner, the debts would be paid. It ends up not being worth the effort to pursue you. Besides, I wouldn't doubt if there is some kind of "creditor insurance" that they can recover losses anyway.

Originally posted by poedxsoldiervet
reply to post by sticky

 

I know right... I feel so much better about life right now... FYI I have packed up stuff I bought with my credit card and have it waiting on them They can have it-)

You dont even gotta do that, I'd give em the stuff back broken if it came to that.

[edit on 1-10-2009 by sticky]

reply to post by sticky


I know right... I feel so much better about life right now... FYI I have packed up stuff I bought with my credit card and have it waiting on them They can have it-)

reply to post by KSPigpen


Right now he says no to that, will see how far the push it, I am still paying on my house so they cant take that away but everything else has stopped untill we get that interst rate down..

reply to post by Jessicamsa


You are right about that, they knew this crap was coming, they did nothing to prevent it. I am giving them a small taste of there own medicine.

HOLY CRAP..

How did I quote your post before you posted it? NOW THAT.. is scary!


(EDIT)

I see the light... twas a double post


TO: Creditors, oo0oo (here is my image for you)

[edit on 1-10-2009 by sticky]

reply to post by poedxsoldiervet


At least your not like the other idiot on ATS who made a thread all pissed off he didn't get a principle reduction..

My advice: save as much cash as you possibly can while debt free and buy a cheap house in cash, a neat little fixerupper.

The banks are getting screwed by you, while you hoard your money.. but you run the risk of courts siding with credditors if your sitting on a pile of liquid cash.

I'm not sure how this works but have you looked into debt consolidation? I'm pretty bad at this kind of thing but am under the impression that is what they do, consolidate your several different bills into one payment with a fair interest rate?

Please correct me if I'm wrong but I at least wanted to throw it out there if it would help you get your car, timeshare, student loans, and credit card onto one bill. If debt consolidation firms are known to be horrible advice, I apologize in advance. lol

reply to post by sticky


Thats a good thought send them that chinesse crap back broken... I do want pay my bills, but hey if you cant help me Piss off right... Screw them its time to take the fight back to them... I am so riled up right now,

Originally posted by sticky
This is easy you guys.

I've owed more then 45K for over 7 years now. I gave them all the finger that long ago. I even ended one call for a 5K credit card with, "sue me".

Most of the time I tell this story, the replies I recieve are "you are the problem with society". Well, as we all are starting to see. I'm a pioneer in the war on economic slavery.

7 years have passed, I haven't even paid one cent. I still get the phone calls constantly, and just ignore them. Each year the settelment amount goes down. haha!!

I'm waiting to get sued... Although it never has happened.

These institutions are certain you are afraid of ruining your credit. I believe this is why you see credit report commercial on every channel.

I am very proud of you, make them sue you.

[edit on 1-10-2009 by sticky]

I am not american so i do not know your laws that well, but from what you say , your debts are now statute barred . I believe the statute of limitations varies from state to state , ie 5 or 6 years , and several events can re-initiate it . But I do not think any extend up to 7 years . Some states are tricky , in that if you admit it even after the limitation period it will reset it, so you have to be very wary . But you sound like you can take care of them anyway . But it could be useful to use , the limitation act , to get rid of them.

Limitation act , being that they cannot sue you any longer for the money . They can only ask and hope you slip up and admit/pay . In some states, like europe, once you are statute barred you can advertise it in the washington post that you owe them, but they still can't sue. You'll have to check the laws exactly for the state you are in. If your lucky, they'll be similar to euro kind of laws and they can never ever take you to court.

[edit on 1-10-2009 by Drexl]