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

You people have no idea how commerce really works.

All of your complaining and arguing does nothing.

Go download this ENTIRE book and read it a few times...I know most of you are so busy being broke you don't have time to do that. Just try it.

www.revolutioniz.com...

And then go to www.thecrowhouse.com and spent more time there than you do here. Maybe you will learn how to stop "revolting" and learn the system...

Once you do, you will understand why you don't go and tell everybody else about it.....Learn to take care of yourself before you try and save the world.

Do you really want to pull your fellow man into YOUR battle if you care for him?

Educate yourself..Don't depend on bloggers and the gobment and your neighbor.....Learn to be self sufficient.

From what I have seen, most of the people on the site take advice from people that don't even have the knowledge to spell write....DUH!!!!!!

Let the bashing begin!!!!!! hahahah

Originally posted by PenandSword

No that is not the reality. Just do what the illegal aliens do at hospitals my friend. WAKE UP !!!!

I tried that... told em my name was Jose Castillo, and said "no habla engles"... they got me a freakin translator, and forms in Spanish.

Saw this this morning on the website "The coming depression" this was my comment.

Amen Sista! I'm with you!! BofA, Cap. One and Advanta caused me to lose my thriving business this past January because of this very reason. Never late on a payment once, always paid 3 times my minimum payment excellent fico and whamo. They all jacked my rates up in the 30% range. Made paying them impossible.
Called them and basically got the "FU" from them so "FU" right back. Not getting a penny from me.

As soon as she mentioned Bank of America I knew already what they had done to her as they've been starting to do it to everyone before the interest rate cap comes into play for credit cards.

Allready have, been on a barter system for allmost everything last 2 years. Need a metal detector. Good to see more and more people stand up.
s&f

oddly, my credit score sucks and my cc interest rate is pretty low all considered. at teh same time, I'm also doing what I can to (slowly) pay off this card and get one through my credit union. I've gotten teh rest of my finances through there, and I've never had problems. Got my car loan easy, my house loan without much hassle, and my lord, they were actually friendly.

the odd thing? mine has maybe 3 branches total, mine is an outer branch, and I've been going there for years every (other) week (depending on employer) to cash my check so they know me by name. Small bank, one of those where the manager has been known to run a tellers booth when it gets busy or they're short.. anyway, she said, if things get tight, they can always do a loan for me. I idly commented my credit sucks right now so I won't count on that tho I am keeping just above water. She leaned in and said.. you're a good customer and we all know you and see your balance. *I* will approve your loan as long as it's not crazy.

After tightening my belt a bit and cutting some costs, I've slowly inches my way up from about 1.5 months worth of bill payments in my account to just about 2 months, in case something happens.

Doesn't make sense to use the money to pay off any debts, since i'll still have debts, so all i'll do is remove my cushion in case something happens. That's how bankruptcies happen.

now, if I coul dpay off all my debts sans mortgage with that cushion.. yeah, I would since then i could rebuild that cushion a whole lot faster.

They're nuts.

She's nuts.

JFJ-
Not too many businessmen here. It is a fringe conspiracy site after all. Enjoyable, yes. Mind expanding at times, of course. But those of us with responsibilities are usually required elsewhere for the best part of our lives.

I agree with you on business credit for working capital if not PP&E. It is unheard of for a contemporary business of any size to be self-funding. Some of the privates do it but no public corporation I know (obviously the very issuance of stock is a form of financing and while we call it equity, the shareholders expect their principle will be returned with profits too!). I am an MBA management consultant in the corporate financial management field and have been inside many a CFO's office.

Can a mom and pop fund working capital out of profits? Sure -- but they often compensate on the asset side with alternate forms of capitalization such as rent-free use of an existing property such as their home (i.e., the store is on the ground floor and the bedrooms on the second). This frees cash that would otherwise be wholly dedicated to servicing their capital debt.

I myself run a small business, inherited from my father. Even though I elect not to use bank credit, the business would be much more difficult to finance without vendor terms at our suppliers (a common form of credit for those that do not know these things).

For that matter, I have invested some $15,000 of my own money plus the use of capital resources including my private dwelling and IT equipment. This too is a credit loan, albeit on very favorable terms to the company. It is my money at loan and at risk -- in the expectation of a profit "at some point"!

Lol, our hobby-business friends here cannot be blamed, really. They simply do not know what they do not know. They are ignorant but good hearted. In fact, I wish it were possible to avoid the bankers. It is my personal goal as much as theirs! However, given the circumstances of contemporary business and the political system that constrains it, credit is a de facto if not de jure necessity to grow. So far as I know, this has been true since ancient days.

Regards,
Joe of the Mountain

reply to post by jfj123




[edit on 9-9-2009 by joeofthemountain]

[edit on 9-9-2009 by joeofthemountain]

[edit on 9-9-2009 by joeofthemountain]

I had a BOA credit card with a 10K balance. I had 750 credit score and was NEVER late for a credit card payment for 5+ years. My APR was around 22 and my payments were like $250 a mo. that just went toward interest and fees, my balance was going nowhere and they were loving it.

I decided to call them and try to negotiate a better APR so I could get my balance down and they told me they would not help me because I had never had a problem paying in the past. I told them I fully intended to pay all of the debt but I needed help with the APR to be able to make a small dent. They refused any help.

I payed for a few more months then told them to get screwed. I sent a cease and desist letter so they could not contact me by phone and the calls stopped. A few months later they called me with a settlement offer. The offer was $1500! I scraped and borrowed and payed it. At the end of the year the bastards sent me a tax statement for 9K worth of income that I had to pay taxes on.

I wanted to pay the debt but they wanted me to be on a treadmill indefinitely.

That was my last credit card and ill never have one again.

I made a mistake by letting myself get that far in debt no doubt but they had no interest in helping me in any way pay on the actual debt.

Expensive lesson....

[edit on 9-9-2009 by Digital_Reality]

It's real hard to not cuss, when anger is that raw. I know where she is coming from though. Years ago I cut up every single credit card once they were paid off. I cut my ties off with the banks and now we live cash on the barrel. That's it. If we don't have it then we do not buy it. It's dangerous to live on credit.

With that said, I took my last $100 and was forced to put it on an electric bill because the company says they didn't get my payment, and that they planned to shut us off tomorrow. I took in proof that I made the payment via wire transfer and still they refused to cut me a break. They did not get the money, so therefore they want what I got left.

I gave them what was my grocery money, and walked out.

I'm angry as hell. I'm tired of having to either be a slave to credit companies or a slave to the utility companies. I have gone rounds with them over my bill and it doesn't do any good. Now I am searching for a way to just stop being dependent on them.

You've got to get a few months ahead. There is no other way to do it. Sell everything you can on eBay. Move in with your parents. Work at the 7/11. But get ahead of the bills.

When you've got cash in the bank, these games (and trust me they are games cooked up by smart-a$$e$ at corporate headquarters) won't be devastating.

Refusing to use credit cards is a great first step. It frees enormous amounts of cash otherwise wasted on them.

The other thing to do is sic the government bureaucracy on them. I refer abuses such as you endured to my state's attorney general who sponsors a "Bureau of Consumer Protection". Let me say, these businesses are all bullies. They enjoy beating up and intimidating us -- but watch the tables turn when state-funded lawyers are let loose on them.

The other thing to do, despite the obvious moral odiousness, is to avail yourself of all government programs you can get. Heck, you paid those taxes. Now it's your turn.

DO WHATEVER IT TAKES TO GET A FEW MONTHS AHEAD OF THE GAME.

Once you do, you'll only ever need to deal with the "BANK OF ME".

And that's a good thing!

reply to post by Asherah

I got rid of my charge cards years ago, its not easy living without credit

cards, but by paying cash, theirs no one making money off you!!

If everyone could do this, it sure would make tptb take notice.

Originally posted by theonlyrusty
You people have no idea how commerce really works.

From what I have seen, most of the people on the site take advice from people that don't even have the knowledge to spell write....DUH!!!!!!

I actually know how commerce runs rather well , with me running my own plumbing business and all Financially I'm doing good but things did get scary for a bit. BTW , your little "manifest your reality" book that you must have just learned about came out 4 years ago and it was called "The Secret" , apparently someone kept it "A Secret" from you... As far as what "You've seen" in your six months on the board , maybe you have been looking in the wrong places because for the most part these are some of the most intelligent and diverse people I've met on any forum. Sorry to break it to you but in your quest to belittle the "people that don't even have the knowledge to spell write" you spelled "Write" "Wrong"

Spell check FTW!!!

Have a slice of humble pie and enjoy your day

Originally posted by detachedindividual
I'm currently laughing at the puritans here suggesting her argument is invalid because she uses "cuss words".

I personally thought she was too diplomatic, now if I'd done that video I'd be accused of coming from the "Bowels of Hell"...lol

Her video is just a fraction of what we're going to see in the future. People are unemployed, they have bill collectors at the door or on the phone attempting to squeeze blood out of a turnip and people are getting backed up in the corner, there's only so much a person can take before they blow. I wonder how before these high profile bankers are wearing body armor and driving armored cars...lol

reply to post by jfj123


Obviousely all youe "experts " arent doing that great and my dad ran a very profitable business for 30 years and never borrowed a Penny..he always said if you dont have the money to buy with cash you dont need it..either rent the equipment or buy used..credit cards are another way to keep you a slave.

Originally posted by earthship35
reply to post by jfj123

 

Obviousely all youe "experts " arent doing that great and my dad ran a very profitable business for 30 years and never borrowed a Penny..he always said if you dont have the money to buy with cash you dont need it..either rent the equipment or buy used..credit cards are another way to keep you a slave.

Congradulations, you now represent the top 1 Percentile (exaggeration for sake of poverty arguement)of people that have never had a financial woe in their life. Enjoy your shelter while it lasts. Too bad your shelter is printed in US dollars.

reply to post by RobertAntonWeishaupt


I am RC4G, "Ann". You can criticize my video all you want, but I take issue with your inference that I did this to "get out of" my obligation.

Had you been paying attention to what I said in the video, you would know that I FULLY INTEND to pay my debt just as soon as the bank restores the original interest rate and monthly minimum payment.

It's not the messenger this is about though - it's about the MESSAGE.

[edit on 9-9-2009 by Rockerchic4God]

I tried to work out a hardship type of deal with Bank of America ( my mortgage Co.) after being suddenly cut to 24hrs. a week. Bank of America made it very dificult, Meanwhile fees and charges are added to your account. I agree , Banks have gotten out of control with our government's blessing.

Wells Fargo tried to do the same thing to me. Just one day out of the blue tried to bend me over(puritans be damned). I've never been late and have always had money in my accounts. Fortunetly I caught the notification letter that said in order to prevent the increase I would have to cancel my credit line, which is exactly what I did. It's just complete bs that I had to cancel my credit card to protect me from the CC company.

Another crooked thing the banks do is perfectly legal but shady as all heck:

If you have outstanding checks and incoming funds, they will process your outgoing checks first which will decrease your balance before they process your deposit. They do this in the hopes your outgoing funds will create a deficit before they process your deposit. Then, like magic, you get charged overdraft fees.

I learned that the hard way back when I was single. I deposited my paycheck but had some checks out I wrote for bills. They intentionally processed my outgoing checks before processing my paycheck into my account.

Pretty bogus but legal.

[edit on 9/9/2009 by AshleyD]