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

Well,
I dont pity her. You dont need a credit card in this world. Thats all. You dont need the newest PC, soup with aroma, toothpaste with mint...Try to live just a little bit minimal than you are living now, and every your problem will be solved. It is not only bankers, bloody capitalists fault. If there is a demand, there is supply.

reply to post by Funshinez


Well...you ARE on a high horse aren't you!

What's the weather like up there?

What about people that run online businesses, buying stock online, ordering services etc etc. People who deal primarily online NEED a credit card.

You think it's fair that a bank gives you a credit card with say a 12% - 15% APR. You max out the balance to keep your families head above water, then the bank DOUBLES the interest rate to around 30%...you think that is OK do you? There are probably hundreds of thousands or more families that are using extra loans and credit cards, to pay their mortgages so the banks don't seize their properties because the major wage earners have lost their jobs...DUE TO THE BANKS!

The banks are not committing daylight robbery eh?

These 'people' who own or manage banking policy have not only thieved TRILLIONS from the people (probably getting on for a quadrillion worldwide) as a collective whole, but are now seemingly doing all they can to financially ruin individuals and families, by more than doubling the interest charged on loans.

This is NOT ON!

Thanks to these thieves, every man woman and child (and grandchildren, and great grandchildren), will be paying for what was stolen from us all in these so called 'bail outs' for the banks for pretty much the rest of our and their lives. That's our fault too i suppose?

Regardless of whether or not some of us believe credit cards are a good idea, it is not responsible to sit back and allow the federal gov. and banks sell us down the river, which is exactly what happened with TARP. I agree that it is best to live outside the credit system if at all possible, however some have made the point that small business that employs many of us do depend on credit, and it is quite right when something this big happens it does happen to all of us, even if you are living in a van down by the river...

watch this:

ampedstatus.com...

I don't use credit cards and this is not OK with me.

[edit on 11-9-2009 by Pilot]

30% APR is highway robbery no matter who you are. I would never pay that and I would hate to be the debt collector to come after me.

the bank's plan to make and keep America poor has gone on long enough. I applaud her protest.

reply to post by jfj123

You're lucky your pipes didn't freeze. So what would you have done had your pipes froze? If your furnace goes out, you being a little cold isn't a big deal but your pipes freezing and causing possibly 10's of thousands in damage is a big deal. You got lucky so you can continue spewing forth your myopic view on life. Had they froze and ruptured, we wouldn't be having this conversation right now, would we ?

Had my pipes froze i woulda just moved out, i don't own this place....I own freedom.
As for my landlord, well, I hope that jacknut has insurance in the case of his pipes feezing...if not, sorry sucker...

Not me. In actuality, I've been lucky as the bad economy has not affected my business but it has affected approximately 90% of all other contractors businesses in my area.

Maybe not you, but whats the deal with all these other lazy ignorant cowards?

I actually own a general contracting and maintenance business, a property holdings company and a landscaping company so I'm set....but thanks anyway for your advice

atta boy!

Is this a real question? If so my answer is.....um to carry on the human race !?!?

um....didn't know we were endangered, and if thats the reason people crank out kids, then they must be pretty stupid.

As long as everyone can agree to this and then somehow put a value that is not money on each others jobs, that's not a bad idea. For example, if you have a dozen apples but need your kitchen remodeled, that isn't a good value so now we have to put a value on each trade. How could we do this to make it fair? We could assign a number value to each item then add them up and trade until those numbers even out....wow, doesn't that sound familiar?

If everyone started working for free, then a lot of jobs would be useless because all they do is handle money and transactions. People who hold these jobs are the most generic types of people in society. If money went away we'd have a lot of people to use for harvesting apples, and remodeling kitchens. get er dun!

First MONEY is not WEALTH.

WEALTH is your labor, land, resources. We combine them to make useful products. Today US money is a worthless fiat piece of paper or in the case of credit cards and Mortgages it is a computer entry. What the banks "lend" is not and does not constitute "wealth" what is lend is worthless FAIRY DUST that the banks collect interest (your wealth representing your labor) on.

"... it's time for a new definition of usury as follows: any interest on any loan of fiat money (meaning money made out of nothing)....From A Talk by G. Edward Griffin Author of The Creature from Jekyll Island

Money is Created by Banks: Evidence Given by Graham Towers to Canadian Parliament: freedomprime.blogspot.com...

Q. But there is no question about it that banks create the medium of exchange?

Mr. Towers: That is right. That is what they are for... That is the Banking business, just in the same way that a steel plant makes steel. The manufacturing process consists of making a pen-and-ink or typewriter entry on a card in a book. That is all. Each and every time a bank makes a loan (or purchases securities), new bank credit is created — new deposits — brand new money. Broadly speaking, all new money comes out of a Bank in the form of loans. As loans are debts, then under the present system all money is debt.

The system we have today was gradually modified until the Fed is autonomous and without government oversight or audit. Now we do not have a group of “disinterested officers of the government itself who can make no money out of anything they do in connection with it” instead we have a “group of bankers” in complete control “concentrating the advantages and conveniences of the system upon itself for its own selfish advantage.” The Federal Reserve has been amended more than 195 times since its founding. www.freedom.org...


The Federal Reserve is a private corporation and since “the Accord of 1951” it is autonomous.

The [Eisenhower ] administration announced at the outset that it would re1y on monetary policy exclusive1y for its economic regulation and would respect the complete independence of the Federal Reserve to carry out these policies as it saw fit ....
.
Thirteen years have now passed since the accord and the liberation of the Federal Reserve. What have been the results? The major result is shockingly obvious. Interest rates have climbed steadily, with slight interruptions.. The period has been marked, then, by a continual shift of income to the banks, other major financial institutions, and individuals with significant interest income. The rest of the country provided this income. ...Excerpt from A PRIMER ON MONEY:Committee on Banking and Currency, House of Representatives 1964
famguardian.org...

The US Circuit Court ruled The Federal Reserve Banks are private. Lewis v. United States, 680 F.2d 1239 (1982).
"Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purposes of the FTCA, but are independent, privately-owned and locally controlled corporations." [Lewis vs. U.S., 680 F. 2d 1239, 1241]

In the present day our income tax checks goes directly to the Federal Reserve banks--not in the United States Treasury. See the back of your payment to the IRS and check out the Grace Commission Report: "With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government." - from the Grace Commission Report famguardian.org...

"... it's time for a new definition of usury as follows: any interest on any loan of fiat money (meaning money made out of nothing)....From A Talk by G. Edward Griffin Author of The Creature from Jekyll Island


This is an extremely important topic and it has to do with usury. In ancient times usury was defined as interest on a loan, any interest on any loan. In modern times that has been redefined to mean excessive interest on a loan. Moderate interest seems logical to us in recognition of the fact that if we work hard for our money, we save it and surrender its use for a period of time being a sacrifice on our part and then loan it to somebody else for their venture, we're entitled to a reasonable return on that sacrifice. A reasonable interest rate is a concept that very few people have problems with, it seems logical and fair.

But what is this thing called excessive interest? Thomas Edison said, "People who will not turn a shovel-full of dirt on the project nor contribute a pound of materials will collect more money than will the people who will supply all the materials and do all the work." I wondered when I read that if Tom was exaggerating so I got my calculator out. I assumed that there was going to be a $100,000 house built. I assumed that $30,000 would have to go for land, architect's fees and permits and that kind of thing. $70,000 would go for the actual construction of the house, building materials and labor. I assumed that the buyer would go to the bank and put 20% down and then borrow the balance at 10% over 30 years. I punched in the numbers and discovered that the borrower will pay to the bank in interest $172,741 compared to $70,000 paid for the construction of the house. In other words, about 2 1/2 times as much money will be paid to the bank in interest than will be paid to those who provide all the labor and all the materials. And you may say to yourself, yes but that's fair, after all a 30 year loan is a long loan and people work for their money and sacrifice its use and loan it and so forth and deserve to be compensated. No. Not this money. Nobody worked for this money, nobody saved this money. There was no sacrifice of any kind for this money. This money was created out of nothing and I suggest that $172,741 interest on nothing is excessive!

I think it's time for a new definition of usury as follows: any interest on any loan of fiat money (meaning money made out of nothing). This example of a $100,000 home, as shocking as it is, producing $172,741 unearned interest, this is just a grain of sand in the Sahara. You have to multiply that by all the homes in America, by all of these hotels in America, all the high-rise buildings, all the factories, all the airplanes, automobiles, farm equipment, schools, everything, all the physical assets of America. You apply this same ratio and can you see it in your mind? We're talking about a river of unearned wealth that is so wide you can't even think of crossing it, flowing perpetually into the banking cartel. A dead short across the productive element of society. Money being taken from people who are working hard providing the material and the labor. They don't even know that this is being taken from them and it's in this huge river of wealth flowing into the banking cartel. It's a staggering thought.

I agree with her. They have been draconian. It's the same with any industry that lets the Gov't get too involved in their affairs.

Airlines, Banks, Real Estate, now they're attacking health care.

Revolt I say, revolt!

The Gov't is full of traitors and actions of treason - we need to all stand up and do something.

What say you?

good for her. same thing happend to my friend. and he did the exact same thing she did, hasnt paid them for 2 months now.

i've been thinking how arrogant the banks are, think about it, when banks make wise investments, the profits are theirs, and when they make a huge mistake, the losses our ours? talk about a good scam.


BTW, still trying to figure out why people protect their credit score like it really means something i bet there are thousads of people that BofA did this to that wont take a stand because they are afraid to ruin their credit score. poor saps.

Funny what happens when people become inactive........someone comes in and tries to tell them what their labor is worth,and through their inactivity they accept it......

And we end up someplace like here,where we are now.

There will be a debtor revolt either way,and if you look around to see what is happening,it looks like things have been steered into that direction.

Now why would anyone want to influence such a thing to happen,as it appears is going on now?.

I have been unemployed for some time,I have never had much use for credit cards and still don't.

Anyway..............

You know, this whole idea of us not paying the banks, also applies to not paying taxes. Not that I would suggest anyone break the law lol

I don't have a bank account, you don't really need one, if you get paid by check, there are other ways of getting it cashed.

The best bank is a fire proof box thats too heavy to carry and has a good lock.

I remember I had one bank account that I let die off. The bank had a rule that if I had below a certain amount of money they would take a percentage as a fine. It got to the point where they were sending me statements that said I had $1.83 in my account and they were deducting a 10% fine!! For all I know I might still have $.0000003 in that account! I should demand my money back

reply to post by Shadowflux
Funny you should mention that banks are un-necessary,I didn't use them myself.....

Until my employer told me that if I didn't get direct deposit I may lose my job....Yes,I know they can't legally/lawfully do that.

But the economy being the way it was at the time,and the great difficulty I had even finding that job.....I did what I had to do.

I really wish I would have recorded all of this,documented it,got someone from the inside to help me out with it,because I am layed off now.......

And the book-keeper there has been fired since then.....

Maybe I should give her a call,we might be able to do the "get even dance"...

And expose these pigs for what they are.

It isn't only the banks and politicians who make it possible for these things to happen.

It is us too,by our inaction,and acceptance of this unfair,and pretty much illegal/unlawful BS.

Rise up by not doing anything at all,go grow a garden,swamp the courts with paperwork if you are being foreclosed on,don't answer correspondence from creditors,stop stumbling into contracts.

Don't give em the time of day,let alone the fruits of your labor.

We need to cut ourselves lose from the shackles that have been

put upon us by TPTB!

Our own government is at fault. THe banks and all lenders ran their crooked schemes and got filthy rich, rewarding crooked ceo's with million dollar bonuses, and our economy nearly tanks and what does our govt., do? Doles out billions to the crooks, and now people still can't get loans unless you're a Rockefeller, the govt. isn't doing anything about the crooks doubling these interest rates either. It is just non-stop crap being thrown in the Average Joe's face. I'm single and have already raised my family, and I am pretty sure I'll survive but I worry about all these young families, they are going to have count pennies just to eat.

I am conflicted. I don't want to see our country go down, I want everyone to prosper and live well. But I can't stand the thought of these evil financial empires knocking us down then rubbing our face in the dirt too.

Originally posted by Bombeni
Our own government is at fault. The banks and all lenders ran their crooked schemes and got filthy rich, rewarding crooked ceo's with million dollar bonuses, and our economy nearly tanks and what does our govt., do? Doles out billions to the crooks, and now people still can't get loans unless you're a Rockefeller, the govt. isn't doing anything about the crooks doubling these interest rates either. It is just non-stop crap being thrown in the Average Joe's face.

Dittos on that! Fox News played her video and interviewed her this morning. I remember as a kid working in my Dad's Garage and the various walks of life that were his customers. Alot of these people worked for the UpJohn Pharmaceutical Company (Pfizer) the towns largest employer at the time. The average non union workers there always started as a janitor at $88 per week, later on they would get into that $120-$140 range, this is excluding the college grads and other professionals. The average guy there also had Healthcare and Pension all paid for by the company. This guy could keep his wife at home raising the family of 2-3 kids, make a house payment, buy a new car every 3-4 years and take the whole family on a weeks vacation every year, try and do that now. Between the Federal, State and Local Governments taxing the hell out of us, the Large Corporations nicking their employees on wage increases, the Financial System hosing us while telling us "We're Here For You", the Lawyers sitting in the background sucking more out of the system, they have turned this into a different ball game. It's now a game where you better screw somebody before they screw you.

I don't blame this woman one bit, she's backed up to the wall and now she's sticking it to them, I wish more people would do the same and then some of these Crooks would wake up. The one that really need waking up is Congress, I'd like to see their free ride come to a halt, stop all their wasted trips abroad, cut their pay and gear it to their performance, get rid of their insurance plan and make them buy the same insurance we have, dump their pensions and let them buy their own 401K's, Fine them every time they talk to a Lobbyist, put them in Jail for Life if they're involved in any corruption even if it's stealing a dime out of Petty Cash. We need somebody else making the Laws in this Country and not Congress or the President!

Originally posted by turbokid
BTW, still trying to figure out why people protect their credit score like it really means something i bet there are thousads of people that BofA did this to that wont take a stand because they are afraid to ruin their credit score. poor saps.

Trust me, my credit score is mobile, and in great shape.

It is due to nurturing and focus.

It wont change just because I change banks,.. and i will in a heartbeat if I am dissed.

But I am with a local credit union,...they like me, and I like them,..we work well together.

I wouldn't say I'm joining the debtors revolt because i want to, but i do believe it is something that has been needed for a long time. I'm going to have to quit paying my credit card bills due to the fact I've lost my job due to the bad enconomy. I will barely be able to keep food on the table, and the lights on so the credit card companies will have to balance their sheets, and make their quotas without me. I really believe the credit card system is on the verge of a collapse.

This is my first post on ATS, but I've been reading the forums for a few years. Have a good one everyone.

can anyone tell me for certain what are the laws regarding what debt collectors/CC companies can legally do or take from you should you walk away from your debt like this woman is doing?

I know they can take you to court to have your wages garnished.

But what else can they do? If I own a car can they go to court to try to take that away from me as "property?" If so, what other "property" (or anything else for that matter) can they legally attempt to take? Let's say I rent my own apartment and own no car and walk away from my debt. Can they legally do anything other than try to garnish my wages?

ALERT: stealing by hiding a false charge..changing paper-work!!!

I think this is very important that people know that not only Credit Card billing, telephone, mortgage, energy...these companies hide ways to steal your money by billing you falsely. When people see a 3 $ charge for something they've never heard before they tend to ignore it...if 2000 people ignore that 3.00 charge...how much money did the banks just steal?

I've seen phone and cable companies do this too....that's why you have to go threw your bills w/ a fine- toothed comb!!!! Just because they're the banks or a huge telephone company..doesn't mean their honest....haha!


www.blacklistednews.com...

reply to post by rufusdrak



They can put leans on your property that will stop u from selling it...well..it wont stop u from selling but when the sale goes threw...those lean-holders get paid. I'm sure your questions been answered since 2009, I'm answering for those that might not know.

Normally anything under 3-5 grand...most companies write it off at the end of an exhausted collection attempt. Some attempts just aren't worth the man-power to collect...just depends. I use to be an agent...I would never sue under 3000.00...

As mentioned..u can get garnished..but if you quit that job,... They have to try and find where your working again...sometimes...certain people are not worth the cost. I know the government can take your taxes...so far...that's all who can! Just wait..that will change. I heard if you owe taxes..you get put on the no-fly list....

Personal responsibility.

Show me a person who was forced to spend money, and I'll say they don't have to pay it back.

Show me a person who willing took someone else's money (the banks) and grinned their fool head off while they spent it, and they have to pay it back.

The only thing people should be credited for are overly high fees or interest rates. I shouldn't -nor anyone else- have to bail out some idiot that spent 10 years overspending and now doesn't want to pay the piper.