Debtors Revolt M Beginning

The really sad thing that most people do not understand is how the companies really do not want to work with you . I called all three of these people several times to explain that since they had raised the interest so high there was no way I could make these payments.
The credit card company told me the only way they could help is if I was late on the accounts. So I of course missed a payment and when they called I re-explained how I couldn't afford these payments and they were like too bad. So they are not willing to try to help. They want to charge you the extra interest and fees so they really will not help you work it out.
I feel its like this. If I loan you 5.00 then I expect you to pay me 5.00 back. I do not expect you to pay me back 5.00 plus 32% more on top of that. I understand they need to make a profit but this is not profit this is a loan shark.

reply to post by Millions


I thank you for the kind words, I am and will fight tooth and nail, and do what it takes to bring this system down, it only takes one and I never wanted to be that one, put they have an animal against the wall and the only thing to do is attack.

reply to post by tinkytink1207


I agree with making money but when it comes to sticking it to people I have had enough, and its time to fight. They dont wont to work with my I refuse to work with them and will circumvent when I can.

Trust me, these banks are planning to let a bunch of debt pile up and then go running back to the feds and say, look - everyone defaulted on these trillions of dollars (and ignoring the fact that 75% of that is ultra high interest, they don't just want to get back what they paid out, after all).

Where is congress or the senate? Why isn't anyone asking these bailed out banks why it's OK for the taxpayers to help them but it's not OK for them to try and help out the taxpaying customer?

The only good thing about all this is the education people are getting on big finance and wall street. The banks had a really hard time dealing with the first couple of generations after the depression - you know, the people who kept money under the mattress rather than put it in a bank?

I think we're headed back to that kind of distrust and outright hatred for the banks. The really sad thing is we do have alternatives - micro loans, community "banks", etc. Like always there's a better way, it just isn't as well known.

For those of you trying to pay off credit cards you might look into micro loans. This is where other people lend you money at a much better rate of interest, not banks - just other people. Get enough participants in these things and we can re-invent the financial system.

reply to post by ecoparity


Thats exactly what I said to the managers of these companies.... They hold there hands out saying please sir may I have some more, but they dont let us get the chance to.. Screw em all.

I'm with the debt revolter's ...I too have a large amount of debt that was all due to medical expenses incurred when I was shot in Iraq...The company I was there with left me hanging with the bills. I arrived at the point where I simply can not pay the outrageous bills. I have gone over 5 years without a bank account and can say I'm getting along just fine.

If more of us people start refusing to pay these bloodthirsty banks eventually they will fail...Or like someone else has pointed out, the banks will go running back to the Fed's and cry for more money.

I can't help but think that one way or the other our "system" is failing here in the U.S. . Worse times are still to come.

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.

I too found that this method works great, provided the caller is of the opposite sex, and most callers are women anymore. I have only had one who stayed on the line for any length of time, and she wasn't a bill collector. she was trying to get me to agree to accept a government grant, for only $2500 from my bank account.

You can make each and every call a total nightmare for these people, who are basically innocent, they just work for the bankers, after all. don't be cruel, just very suggestive....

Originally posted by poedxsoldiervet


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]

HELL YES! Since I got laid off I haven't paid a damn thing except the car. F them. They caused the collapse. Everyone with a brain knows it.

Take it one step further....DON'T PAY TAXES EITHER! IF WE CAN GET MILLIONS OF PEOPLE TO NOT PAY TAXES AND STAND ARM IN ARM TOGETHER IN A NON-VIOLENT MOVEMENT WE CAN END THE CORRUPTION!

reply to post by PenandSword


You hit the nail on the head...If you really want to suddenly get our "elected officials" to listen to we the people, don't pay our taxes. This would start a chain of events that would truly be new ground for us here in the U.S.

reply to post by poedxsoldiervet



Do what my wife and I did, threaten them with Bankruptcy!! then if they still don't help, then go file for chapter 7 Bankruptcy. If you get a good lawyer they will work with you on a payment plan so that you can pay for the court costs.

Our main problem was the high interest rates on the credit cards(those crooks jacked the interest rate sky high that we could no longer make the minimum payment).

I got rid of all my credit card debt. And we kept our cars and home too. Still having trouble getting the mortgage company to give us a cheaper or lower interest rate though!!!






[edit on 1-10-2009 by Asuka 24]

Ya know, you don't have to ruin your credit like this man. Offer these people 25 dollars a month, then send a 25 dollar check. If they cash it, it's legally binding that they accept your payment plan. When they try to call you and bully you for more money speak of your arrangement. They will either accept it, or start sending the checks back to you. If they do that, then they are denying your payment and bang pow boom, you suddenly can wipe your debt clean.

reply to post by autowrench

I did something a little different I started asking them for money. Then I would ask to speak to the manager saying that maybe the manager could give me money. Its been a few weeks now since they have called back. Make sure you get a phone number and call a few times asking for money.

alot of companys now run credit checks on you before hiring you...there is of course a conspiracy there also.

so, might not take bad credit too lightly if you want a decent job overall.

Sometimes # happens and you gotta just deal with having bad credit...but if your simply not paying out of spite or whatever, well, then your a bit of a loser (not the ops...just a general statement)...if you buy something then have the ability to pay for it but refuse to..then that makes you a thief, not a rebel...just a thief.

I can't help playing devil's advocate here. The first thing that came to mind after reading the original post was... If you borrowed the money, shouldn't you pay it back? I'm not sure sticking it to the man is really going to accomplish much because, as we've seen with the bailouts, ^#!$ rolls downhill with this type of thing, so it's the taxpayer who is going to be flipping the bill in the long run.

Believe me, I HATE the credit card companies. Even the concept of credit seems really stupid to me in many ways. I recently watched a Frontline episode on the credit card industry and I have to say that my opinion of those companies went from bad to worse. They're all about making money regardless of the circumstances of the customer, and they count on customers being irresponsible, ignorant, and lazy. It's sickening.

Here's the Frontline episode. You can watch it on the PBS website. www.pbs.org...

Anyway, good luck with the stand you're taking. And be careful! I hope you don't wind up digging a hole you can't get out of.

reply to post by midnightbrigade



That's pretty brilliant.


I'll have to advise my mother to this as she got hit with the BoA 30% interest rate.

My, my, my. What a wonderful assortment of deadbeats. I know you all have a tale to tell about those naughty credit card companies and those horrible banks. I'll let you in on a little secret. Banking is not an altruistic endeavor. It is a business meant to generate profits. Personally, I would have preferred the entire house of cards come tumbling down. But as my fellow capitalists have pointed out to me the social impact would have been too great. So if you think it is bad now...what might have been. Basically you signed on the line which was dotted. And you couldn't keep your part of the bargain. Which means the rest of us who responsibly use credit will have to foot your bill. All a credit card is for me is an interest free 30 day loan. Truth be told I think my credit card company dislikes me even more because I do pay on time. No money in it. Also be aware that a lot of employers are doing credit checks on potential employees.

If you can't beat 'em, then # 'em.

Starred and flagged...

I'm of two minds about this. I do feel that they are almost like organized crime. Jumping 20% in interest overnight is just absolutely insane, and should not be allowed. Of course, anything passed won't even hit the system for a year... so may be some relief eventually, but won't help those who already have outrageous rates.

On the other hand, people accrued those debts, signing contracts that did cover in detail, exactly what they are doing to you. YOU bought stuff you couldn't afford. You have the tvs, took the trips, have the expensive car, and piled up other debts. This is on you. I am disgusted with my own cards and companies, but I do not feel they are "wrong." Ethically disgusting, sure. But they put a contract in front of me, and I signed the thing.

Example: Sears did this to me recently. Bought my wife a treadmill, as she really wanted one. Had the "don't pay until 2010" deal, etc. I was one day late on a payment, and they cranked the rate to 29% from 0%. They increased my payments from 35 bucks to 125 bucks. They revoked the don't pay until 2010 deal. I called, and they would not fix it. Put in a letter, no dice.. refused. So I am paying the 125 a month, and I did talk to one of their mangers, and explained I, nor my wife, nor my children, or anyone I could get the message to, would ever buy a single damn thing from Sears again. They bought out with the CC companies.

But this was MY DEBT! I signed a contract that explained this IN FULL! This is on me, regardless of what asshats I think they are for not screwing me over due to a 1 day late payment. These companies WANT you to pay late. They are praying that you do. Only way to really give them the finger, is never give them your business again. I just don't get the "omg these are evil companies and don't deserve my money!" angle. You signed something that covered everything, you bought the stuff, you defaulted, the onus is on you to fix it.

Originally posted by SaturnFX
alot of companys now run credit checks on you before hiring you...there is of course a conspiracy there also.

so, might not take bad credit too lightly if you want a decent job overall.

Sometimes # happens and you gotta just deal with having bad credit...but if your simply not paying out of spite or whatever, well, then your a bit of a loser (not the ops...just a general statement)...if you buy something then have the ability to pay for it but refuse to..then that makes you a thief, not a rebel...just a thief.

Your points are valid, it is just we should be at the point where we don't care what anyone thinks about us. Your view on society is based on many years of brainwashing. I feel bad for people with similar views as yours.

It is a revolution of the entire system altogether. Soon enough, the system will crumble, and many of those people that worked so hard their entire lives to obtain wealth, will be the next group to come out swinging and joining our ranks.

Even if we do this by choice now, the FED and the entire US economic system is a much bigger thief then we could ever be.

Tit for tat.. Payback is a bitch.

STAND UP, and do not be afraid. Credit will become something we laugh about in the future, like the rotary telephone.

[edit on 2-10-2009 by sticky]

Hey Poex,

Here is a good site that will give you the laws (Fair Debt Collection Practices Act) and things you need to say to the debt collectors calling you. Read as much as you can.

www.bcsalliance.com...

Example of how to respond to collectors:

Debt Problems: How to Get a Debt Collector or Creditor to Stop Calling You at Home and Work

Do you jump every time the phone rings? Have you been embarassed at work because a debt collector keeps phoning you? If so, then there is a simple way to get debt collectors and creditors to stop calling you.

Congress enacted federal legislation that regulates debt collectors and collection attorneys and protects the rights of debtors. This law, The Fair Debt Collection Practices Act, requires that debt collectors and attorneys stop phoning you at home and at work once you ask them to stop. The law specifies that your request must be in writing, therefore, you should tell them to stop calling you at home and at work the next time they call, but then follow it up with a certified letter, return receipt requested. (Our debt kit includes a sample letter on this subject and 20 other sample letters.)

Sample telephone script:

You: Hello.

Collector: Is this Jane Doe?

You: Speaking.

Collector: Hello, Mrs. Doe. I'm Charlie with Acme Collections calling again about your delinquent credit card account with XYZ Bank. Could I get a payment of $250 by check over the phone from you today?

You: No, I don't have the money. As I told you before, I am currently unemployed and simply can't pay right now.

Collector: Well, Mrs. Doe, this account is seriously delinquent and we will continue our collection efforts.

You: I understand, but I simply cannot pay right now. It is a waste of your time and mine to keep calling me when I can't pay. I am requesting that you not contact me by phone in the future. I do not want to receive any more calls from you at home or at work and am asking you to communicate with me only in writing.

Collector: Okay, Mrs. Doe, I'll put your request in our files.

You: Thank you. Goodbye.

If the debt collector refuses to comply with your do not call request you will have to quote the actual law:

Collector: No, Mrs. Doe. We will continue to call you until you pay this debt!

You: The Fair Debt Collection Practices Act requires that you stop phoning me at home and at work once I request that you do so. I intend to send you a certified letter tomorrow putting my no contact request in writing. If you continue to phone me, then I will file a complaint with the FTC and the attorney general."

If the original creditor refuses to comply with your do not call request:

The Fair Debt Collection Practices Act does not apply to original creditors, like a credit card company; it only applies to debt collection agencies and attorneys collecting debt. Therefore, do not quote the FDCPA to get original creditors to stop calling. Instead, quote state law which governs original creditors but usually has similar provisions to the federal legislation. Sample script:

You: It is my understanding that [Texas, Michigan, California] law requires that you stop phoning me at home and at work when I request that you do so, is that correct?

Creditor: Yes, but we will continue our collection efforts.

You: I understand that, but Texas law says that you must stop phoning me at home and at work once I ask you to. I am officially requesting that you not phone me at home or at work. If you need to communicate with me, then do it in writing. I will send you a certified letter this week officially asking you to stop contacting me by phone.

Creditor: Alright Mrs. Doe. As you request, we will not phone you in the future.

Note: Collectors do have the right to call you after you request them to stop phoning you if the status of your account changes. They can call you to tell you they are (1) giving up collection efforts; (2) are turning your account over to an attorney; or (3) are going to sue you. But usually, they won't call you again after you request that they don't. If a debt collector does contact you after you request that he stop, you might have the right to sue and collect damages.

*I hope this helps. If you use the right words next time you talk to these collectors, they will be soon breaking the law (bad for them, good for you)