CNBC has come up with a new word: “Great Recession”.

Nobody, of course, wants to use the “D” word, but the “D” word is exactly what we should be using, because it’s what we’re entering ? and in fact are likely already in.

All the commentators like to talk about “monetary policy” and how it “isn’t working because the credit markets are dysfunctional.”

Nobody mentions that the reason the credit markets are dysfunctional is that credit has been abused by consumers, industry and government alike.

1/3rd of all homes now have mortgages that exceed the value of the house. This didn’t happen by accident, it happened due to the collapse in traditional underwriting standards, which once again are:

1. 20% down payment, in saved cash (not additional credit)
2. 28% maximum “front end” ratio, that is, the entirety of your housing expenses to gross income
3. 36% “back end” ratio maximum, that is, the entirety of your debt service, including housing and all other debt service such as credit cards and car payments + student loans, to gross income.

Nobody wants to go back to reasonable lending standards. Why? Because if you do, you exclude most buyers ? not because of the housing price or the “front end” ratio, but because consumers have levered up everywhere else too, including student loans, credit cards and buying a new car every three years.

The hue and cry for such silliness as seller?financed down?payment “assistance” (which ought to be outlawed as intentionally misleading, as it serves to improperly prop up the reported sale price of the house, effectively “laundering” a seller concession) FHA 3.5% “down payments” (1/5th the reasonable requirement) along with other expressions of idiocy such as allowing AUS/TOTAL automated approvals that stretch debt?to?income ratios is proof positive that we’re a nation that is stuck in debt up to our necks.

There is no durable and reasonable recovery that can happen until that debt is either paid down or defaulted. Since we continue to refuse to tighten up standards for major capital purchases (including houses and cars) we will continue to march over the cliff, one step at a time, until the transfer of the defaulting and to?be?defaulted debt is transferred to a “government guarantee” reaches a critical mass.

At that point government funding evaporates from external sources and the “job cuts” all happen there, along with forced cuts in government largess programs ? whether the administration wants them to or not.

President Obama and Congress simply refuse to deal with reality and his so?called “advisers” are in fact up to their necks in the policies that got us here. As a consequence people like Larry Summers cannot be counted on to provide impartial or even honest analysis, as it is their very policy structures and suggestions from more than ten years ago that got us here in the first place!

Obama is now said to be favoring a “prepackaged” bankruptcy for GM, allowing Chrysler to go under. It would be nice if we would see our President realize that this same mess exists in virtually every corner of our economy, but doing that requires skewering people who he considers “trusted advisers.”

It is rather amusing to hear Senators like Mr. Shelby come out and tell us how bankruptcy is “best for the taxpayer” when it comes to GM (true) but they won’t say the same thing about Bank America and Citibank. Why not? Fact is, a bankruptcy is the correct solution to too much debt and excess capacity no matter where it is, as it is the formal structure under our capitalist system by which excessive debt (supporting capacity that is in excess of requirements and thus unproductive) is cleared through debt?to?equity cram downs, real concessions by all stakeholders (forced by a judge) and/or outright defaults.

These same Congress folk also don’t want to repeal the so?called “bankruptcy reform” law of a few years ago that made it nearly?impossible for income?earning Americans to discharge their debts over that same constitutionally?provided process. Indeed over the years Congress has extended the net of “impossible to discharge” debt ever further like a creeping prickerbush; child support awards, IRS debt and more recently privately?written student loans. More recently for those with above?median incomes all debt became effectively non?dischargeable.

This of course is what the bankers want, but it is precisely backward in relationship to what America needs. If we are to see our debt levels contract from 370% of GDP (up from 350% last year) and not provoke a GDP collapse (which will rocket that ratio higher) we must instead:

1. Reverse the “bankruptcy reform” act.
2. Repeal all restrictions on debt that can be discharged in bankruptcy.
3. Force all firms and individuals who are unable to pay through bankruptcy.

In short the solution to insoluble debt is bankruptcy. It is through bankruptcy that we clear that debt from the books, which is a necessary precondition to a re?balancing of the economic output of this nation to its ability to fund consumption with production, not “pulled forward” credit?driven false demand.

The UAW and organized labor in general, long thought to be the “favored” among President Obama and the Democrats through their speeches and claims, in fact were thrown under the bus. It is simply remarkable that the UAW hasn’t literally mobilized every labor union in the United States and coalesced their memberships into a march on Washington DC, laying (peaceful!) siege to the city and demanding that the same sort of “tough love” meted out for GM and Chrysler be applied to all the financial concerns that have instead received well north of a trillion dollars of largesse, forcing the rescission of all previously?allocated “bailouts” and refusing to leave until a level playing field is achieved. One must wonder if Gettlefinger and the union “brothers” really are brothers at all, or whether the last 20 years has made them, once the most?feared political constituency in America, yet another neutered political has?been incapable of anything beyond a bad parody of carnival barking.

Real economic growth and the stabilization of the job base, along with normalization of the credit markets will not and in fact cannot happen until this takes place.

We must as a nation choose ? we can either choose a continued descent into chaos that literally threatens our way of life and political system, or we can choose to force those who made bad bets, whether they be improperly?underwritten loans, naked CDS written without capital or those who speculated in the purchase of their house to go through the bankruptcy process and thus remove from the system insoluble debt via the process of bankruptcy and default.

The latter choice is politically unpalatable but it beats the loss of social order, the collapse of our economy and credit markets and ultimately the collapse in government funding that can (and will, if allowed to descend to that level) result in the loss of our government and way of life.

Segnala presso:

Maybe someone can tell me what is “disturbing” about the following video:
We The People Stimulus Package

Allegedly:
“He was scheduled this week to appear on the “Jerry Doyle Show” when he told the radio host that Obama had personally invited him to meet in the White House “to discuss the disturbing nature of the videos.”

I’ve watched it. Exactly what is “disturbing”?
That our government works for us, and that the people have an unalienable right to enforce this fact? Ever read The Declaration of Independence, the document that led to the foundation of this nation?

Let me help you:
That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to affect their Safety and Happiness.

Seems rather clear to me.
That our Congress voted for the largest spending bill without reading it?
That Congress was told (several times) to enforce our immigration laws and has refused?
That illegal immigrants have no right to the common weal of our nation but Congress continues to insist that they do?

That Congress was told (at a level of 300:1 against) to NOT pass the EESA/TARP, and they ignored us?

That we the people indeed have spent our time watching American Idol and playing with consumer products bought with insoluble debt instead of discharging the duties of Citizenship?
That citizenship is not a spectator sport, and that the Declaration above gives us as Citizens the absolute right, as a collective group of people, to march on Washington DC, peaceably assemble there and through non?violent means demand that all 535 clowns in the Capitol resign ? refusing to leave or permit ordinary commerce in that city (again, through non?violent civil disobedience) until they do?

That the people have every right to demand the redress called for in that video be passed as law and put into force ? now?
That if we the people do not demand the cessation of these abuses that we are on a path today that will, with mathematical certainty, lead to the ruin of our nation, the loss of civil and political order, and that you will need a firearm to defend your person and property from those who would take advantage of the loss of that civil order and, quite possibly, to prevent the formation a different government in that political vacuum that would be completely unrecognizable to those who have actually read our Constitution?

All of the above are facts, not opinions.
Perhaps ? just perhaps ? did a few tea bags show up in Washington DC?
I along with many others have called for them to be sent.
Our government exists only because we the people grant it power over our lives. This is not because government has rights ? it is because our creator endowed us with unalienable rights, among them life, liberty and the pursuit of happiness.

If you don’t believe this, you’re not an American.
Government in fact has no rights. All rights flow from creation, and government creates nothing. Government in fact steals for all it acquires, but we the people consent to that theft in the form of taxation so that order, as we direct, may flow from law.

That is, government acquires privileges only as we the people direct, and we the people have the absolute right to revoke those privileges, in part or full, any time we the people so choose.
The founding fathers not only understood this they were willing to die for it.
Some of them, in fact, did.

We the people today are indeed cowards in the main. Rather than demand that our government ? OUR GOVERNMENT ? do as we direct we instead returned nearly all of the representatives and senators who voted for the EESA/TARP against our explicit instruction to office in an election held just a couple of weeks later!

Is it any wonder that Congress feels free to allow con men in the “banking industry”, both foreign and domestic, to literally steal nearly $100 billion dollars of our money through a “bailout” of AIG, passed through the firm as a conduit to banks around the world?

Is it any wonder that The Federal Reserve feels perfectly free to ignore strictures in its enabling legislation that prohibit it from holding equity stakes in assets of both AIG and the failed firm Bear Sterns, in the process (it appears) intentionally overpaying by $30 billion dollars?
Is it any wonder that The Federal Reserve felt perfectly free to give the finger to an FOIA request filed by Bloomberg News seeking to determine who had been bailed out and with what funds, specifically?

Is it any wonder that both Democrat and Republican candidates for President voted for the EESA/TARP ? a bill that gave Henry Paulson plenary authority to spend $700 billion dollars we did not have, despite being told by their constituents ? the population of this nation, by a 300:1 margin ? to vote “NO” ? and we, less than a month later, elected one of them President, despite the presence of other candidates on the ballots of all fifty states?

Is it any wonder that when the first half of that money was spent in a form and fashion other than Mr. Paulson stated it would be that Congress felt perfectly comfortable in doing nothing about it ? not even revoking authority to spend the second half of the funds?
Is it any wonder that our government has felt “perfectly ok” more than doubling the public float of debt in The United States when one considers all pledged and funded bailout actions ? events that have added more than eight trillion dollars of both funded and committed bailout monies to a public float that previously was six trillion?

Is it any wonder that our Congress and our Judiciary has ignored the blatant acts of fraud in our financial system for more than ten years, including but not limited to the Appraisers Petition signed by thousands of independent property appraisers, the Madoff scandal which they were notified of more than a decade ago, the alleged fraud at Stanford which they also knew of, millions of fraudulent mortgage applications, cooked appraisals, credit default swaps written with no capacity to pay, naked (illegal) short selling, intentionally false rumors and massive insider trading linked to them, obvious leaks of confidential government activity (and trades placed upon that information) prior to its pubic release, and literally hundreds of firms who reported “profits” that in fact were the fruit of poisonous activity, calling into question whether these profits were ever actually earned? All this and much more occurred over the last twenty years, yet you can count on your fingers the number of actual and meaningful prosecutions of people from the top down that were involved in these outrageous acts that fleeced Americans to the tune of trillions of dollars.
None of these things are, or should be “wonders”.

We’ve been too busy watching American Idol to be bothered with discharging our duties of citizenship in The United States.

Citizenship is not a spectator sport, and we the people have been called out ? and found wanting.
If you want to keep your nation, America, it is long past the time when you should be off your duff and making clear to your government that this sort of blatant fraud, theft and corruption will not be tolerated, it will stop, and that each and every person responsible will be indicted, tried, and if convicted go to prison ? right here and now ? no matter how “well?connected” they are.
Period.

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Segnala presso:

Novation is a term used in contract law and business law to describe the act of either replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party. In contrast to an assignment, a novation must be agreed upon by all the parties to the original agreement.[1] The obligee, the person receiving the benefit of the bargain, must only be given notice. The obligor, the party making the novation, must only make the new obligor aware and receive consent from the new obligor. A contract transferred by the novation process transfers all duties and obligations from the original obligor to the new obligor. Complete Wikipedia Definition – Click Here

Novation -

As defined above, Novation is the substitution of a new contract for an old one; or the substitution of one party in a contract with another party. I one sentence it is the replacement of existing debt or obligation with a new one.

Credit Card Company exercises this practice to change card holder agreements. When you get a notice of an update in the terms and conditions, and then use the card after you received it, you have agreed to the terms of the new agreement. Your act of using the credit card serves as your acceptance to the new agreement.

You can use the same process to enter into a new agreement with your card company, which it can accept with an act, such as cashing a check. When the credit card company accepts and cashes your check, they have agreed to the terms and conditions of your Novation contract.

Your Novation contract to the creditor must:

A. Your contract is supported with adequate and sufficient consideration in the form of a check made to your credit card company for an amount between $25.00 and $100.00;

B. You detail with clear language the consequences of the card company accepting your offer.

C. You declare the legal basis for claiming zero liability for the account or for any debt alleged through a prior agreement once your offer is accepted; and,

D. You state the adverse consequences to the card company of any collection activity that does not contain sworn verified proof of your obligation as a debtor.

Nice theory, but will it actually work?

Just on face value, there are a couple of things that must occur. First and foremost would be if the original creditor will even “act” by cashing your check. Secondly, is there anything in your original contract with your creditor that states that you cannot change the terms of the contract?

Credit Card Novation – Fact or Fiction

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This is a great sources for anyone wishing to know “what is going on” in these dire financial times. I have referenced Catherine Austin Fitts many times. You won’t hear very much from her or about her view in the main media. She knows as an insider how the system works. So her interviews are truthful and she tells it like it is–Pulls No Pushes. If you are concerned about the direction the country and world is going, how it will affect you and your family, and how to survive and thrive, I urge you to subscribe to her News Blog.

This Week at the Blog

Goldman Sachs remains in the hot seat this week, agreeing to pay $60 million to the Massachusetts Attorney General for subprime mortgage shenanigans and seeking to repay TARP funds to avoid restrictions on employee compensation. Goldman showed up as one of the financial industry contenders for “Worst Corporation of 2009.” As a secured creditor on Chrysler, Goldman took quite a write down but it looks like they did a lot better than the dealers.

* Goldman to Pay $60 Million in Subprime Settlement with Mass AG
* Morgan Stanley, JPMorgan, Goldman Said to Apply to Repay TARP
* Vote for Worst Corporation of 2009
* Chrysler and GM to Dealers: Drop Dead

UNSECURED DEBT?
This is an ethical, moral and completely legal program to show you how to get out of the spiraling clinches of “Credit Card Hell” and take back your credit worth reputation. This is NOT– Debt Consolidation, Debt Settlement, Arbitration or Credit Consumer Counseling. Don’t even think about considering the stigma Bankruptcy would carry for you—and the additional expense that goes with it… Visit us at Credit Card Rest In Peace or call us at (949) 240-7401

Check out my blog at Eliminate-Credit-Card-Debt-Options

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Segnala presso:

Without any wasted time, I will get to the point.

What Mr. Detweiler and Bob Markoff, a collection attorney tells us below leads to confusion, distortion and mis-representation. Sadly the sources we have look to for truth have and are using their positions in media and high office to lie to us. The bigger the lie, the better the out come for the liars. Below each of their statement, I will present my view with supporting research.

From Credit.com wherever you stand, we stand by you

By Gerri Detweiller

11.16.08

Novation: Don’t fall for this credit scam!

Novation is a term used in contract law and business law to describe the act of either replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party. In contrast to an assignment, a novation must be agreed upon by all the parties to the original agreement.[1] The obligee, the person receiving the benefit of the bargain, must only be given notice. The obligor, the party making the novation, must only make the new obligor aware and receive consent from the new obligor. A contract transferred by the novation process transfers all duties and obligations from the original obligor to the new obligor. Complete Wikipedia Definition – Click Here

How then is this a Credit Scam which is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft.

If you are deep in debt, the idea of being able to eliminate your debts without filing for bankruptcy is pretty attractive. That’s why it’s so easy to fall prey to programs that sound too good to be true — to everyone but the consumer who buys into them.

When you look at what the new Bankruptcy Law offers, I can understand why consumers look for another why out. Given the number of folks that file for BK and fall out – not able to complete the process, doing nothing seems attractive.

Click Here

A case in point: A website I came across recently promises to “legally get rid of 100% of your unsecured debt.”

Don’t worry, they say, “This is not a “Do It Yourself” program.” They will “handle everything for you, every step of the way. No Sending Letters, No Conference Calls — just RESULTS!”

The company provides an audio recording that explains how they will use contract law to alter your contract with the creditor so that you don’t ever have to pay back what you owe. You just assign your debts to them (the firm) and if the creditor protests, they will have to come after the firm for payment, not you.

Ok …Sound good to me! What is there track record? Who are they? How long have they been in business? Since we live in the USA the lawsuit capitol of the world, where any one can be sued, how is that handles by this company considering that the debt has been Novated to them? What happens to the original account holder if they get sued anyway?

Gee, I think this would be something that if answered in this article would clear up this matter. You know, something called Do Diligence.

To get to the bottom of this scheme, I consulted Bob Markoff. Bob is a collection attorney with Markoff & Krasny. He has years of experience, and he is also serving as president of the National Association of Retail Collection Attorneys (NARCA) a group that represents law firms that collect debts. Yes, it’s true he collects on the part of creditors and is going to side with them when it comes to being repaid. But he is also an attorney who has seen plenty of scams over the years.

Gee I’m Impressed! Like the Fox reporting on the hen house.

Here is what Bob had to say about this debt elimination program:

“The overriding premise here is that they can unilaterally amend a pre-existing contract by sending new contract terms to the creditor with a payment referencing the new terms. If the payment is accepted, so are the new terms. The new terms are utterly ridiculous…as is their premise.”

The overriding premise is Contract Law

There ridiculous interest rates that have been compare to the rate charged by LOAN SHARKS.

Credit card agreements now have terms to the following effect:

1. All payments marked “Paid” or “Settled in Full” must be sent to a different address than the usual payment address, if the payment is for a sum differing from the balance due on the last statement. This prevents such payments being sent to the lock box at the bill payment center where they may be processed without review. (This trick is so old that I know of an Illinois attorney who tried to pay his American Express bill with a check for $1.00 marked “Payment in Full”. He was disbarred over fifteen years ago!)

Oh Yes! I recognize this argument…The straw man. He builds an argument that has no or little relationship to the core of the discussion. But what happens when the minimum payment is sent with the new terms including the statement. Not as he says, with $1 and a statement marked Paid or Settled in Full. I’ll tell you the Credit Card Co. cashes the minimum payments. They have done so for 7 plus years.

I think he might enjoy the company of these Bankers who have created a ponzi scheme that has created such a financial mess.

2. The agreements also state that any attempt to change terms of the contract must be sent in accordance with specific instructions set forth in the agreement. If the process is not followed, the attempts to change terms are not effective.

Ok …is that the Customer Service Address? A 7 years + history says it must be cause they cash the checks. But just to be clear, does he imply that if the Novation and Payments are “sent in accordance with specific instructions set forth in the agreement” then the novated contract is binding. I guess so. His statements are sounding more and more like nonsense.

Now, to some of the debt elimination program’s nonsense statements:

1. “Other repayment plans can EASILY last 7 to 10 years…” In reality, few repayment plans last that long. Generally, if they last longer than 3 to 5 years, they fail!

No, No, No…what nonsense …the 7 to 10 years refers to how long derogatory items remain on the credit reports with the Big 3 not repayment plans. Repayment plans last 1 to 5 years…most programs are structured for repayment over 1,2 or 3 years. Yes, repayment plan for 3 to 5 years have a high failure rate. There qualification are also are very difficult to meet.

2. “We assume debt…it is now OURS, not YOURS!” Think again: There is no legal basis for this.

SEE NOVATION –

Novation is a term used in contract law and business law to describe the act of either replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party.

3. “We include Student Loans.” Better luck next time! They may include such loans, but Federal law and regulation govern those loans, and no one but the government can change their terms.

Really? How does Federal law trump Contract law? What about Federally Insured Mortgage loans which were cut up and re-sold to others?

4. They make “Consideration” payments…Watch out! I have no idea what this means. It is not a legal concept.

I’ll help you. See

However, even if a court decides there is no contract, there might be a possible recovery under Quantum meruit (sometimes referred to as a Quasi-contract) or promissory estoppel.

5. “The creditors must now send all statements to us and not you.” No! This is simply not true.

If the original debt holder completes a change of address form or given Power of Attorney to another to change the bill address what is the difference? The Billing address is changed otherwise the statement would go to the wrong address and would not get paid. Yes it is simply true.

6. The debt elimination program’s restatement of contract law: The way they describe the fact that a contract must include an offer, terms, and acceptance is correct, but they then distort it to overlook or ignore the original offer, terms, and acceptance underlying the original agreement the consumer signed!

Do they also cheat on their wife? I am reminded of Bush/Chaney assertions “If the executive says it’s so it is Constitutional”. The Novation of the original contact changes that terms, offer, and acceptance issues. Statement 6 makes no sense, is circular and only leads to confusion!

Explain “but they then distort it to overlook or ignore the original offer, terms, and acceptance underlying the original agreement the consumer signed!”

7. “Suits on the accounts that we take over must be against us and we have never been sued.” However, what they don’t tell you is that the reason they may never have been sued is only because no creditor has ever switched an account into their name!

Oh come on. How long have they been in Business? How many accounts do they claim to have? Even if it were only 100, they would see law suits. If they lost the suit, the judgments’ and publicity would put them out of business.

8. “The law says that collection agencies must provide written documentation of a disputed debt.” This is not a correct statement of law under the Fair Debt Collection Practices Act (FDCPA). Under this Act, a collection agency must provide written verification of the debt.

Documentation: Noun documents supplied as proof or evidence of something

a. A written or printed paper that bears the original, official, or legal form of something and can be used to furnish decisive evidence or information.

b. Something, such as a recording or a photograph that can be used to furnish evidence or information.
c. A writing that contains information.

Verification: Noun.

1. The act of verifying or the state of being verified.

2.

a. A confirmation of truth or authority.

b. The evidence for such a confirmation.

3. Law An affidavit that attests to the truth of a pleading.

Taken from:
Click Here

Your Right To Dispute Your Debt

llection agency or collection attorney, must notify you that you can dispute your debt and that you have a certain time period (30 days by law) to do so before the agency/attorney can report the past due debt to any collection agency. Collection agencies and collection attorneys are required by law to investigate disputed debt and to report back to you concerning the validity of any disputed debt. If you do dispute the debt, for example, you think you do not owe all or part of the money demanded, do not ignore the deadline for telling the attorney/collection agency about your dispute. The agency/attorney cannot legally report the debt if the law is not followed.

9. Don’t talk to debt collectors because they are there to trick and scare you…”
Don’t listen to this bad advice! Collectors call to work out payment arrangements. If you don’t talk with them, you can’t work out a repayment schedule.

Taken from:

Click Here

In an effort to collect debts, credit collection agencies and the attorneys who represent creditors and collections agencies, may make demands on debtors (people who owe money) in order to collect delinquent debts. Some demands are legal and others are not. Some agencies and their counsel may play on peoples guilt feelings and may attempt to persuade people who are struggling to pay their bills, to pay bills that creditors have little or no chance to collect in any other way. They may attempt to get debtors to forget their good judgment and to pay bills out of the order of their importance or in a manner not in the debtor’s best interest. (For example creditors may try talking a debtor into making credit card payments when the debtor is more importantly attempting to avoid a possible utility shut off, eviction from their residence, or land contract or mortgage foreclosure.)

10. “Banks sell the bad debt to collection agencies five to six months down the road and the agencies must send a letter within 10 days of buying the debt.” That is just plain wrong. There is no such requirement.

Taken from:

Click Here

1. Section 809(a) requires a collector, within 5 days of the first communication, to provide the consumer a written notice (if not provided in that communication) containing

(1) the amount of the debt and

(2) the name of the creditor, along with a statement that he will

(3) assume the debt’s validity unless the consumer disputes it within 30 days,

(4) send a verification or copy of the judgment if the consumer timely disputes the debt, and

(5) identify the original creditor upon written request.

11. “Expect some negatives on your credit bureau report for 6 to 10 months.” Finally a true statement with an exception: Negative listings will last longer than 10 months! In fact, late payments, charged-off accounts and collection listings may be reported for up to seven and a half years under the federal Fair Credit Reporting Act.

This type of nonsense is a fraud upon the public and our economic system. It is an attempt to cheat the system instead of promoting fair dealings between the parties. It creates unreasonable expectations for the consumers, who will end up being sued and garnished.

Another Straw man Argument… The time frame is more like 12 to 18 months on average but could be longer as Collection Company re-sell the debt over and over.
The point is how long will it take to REMOVE derogatory items from your credit history.

Errors on Credit Report Costing Consumers Billions Per Year.

LOS ANGELES, April 7, 2009 — Over 100 million Americans are overpaying on their loans because of errors on their credit report. Worst of all, these errors are fixable and consumers don’t even realize it. Click here for the article:

Click Here

Mistakes Do Happen: A Look at Errors in Consumer Credit Reports

2004-06-17

Executive Summary

The most valuable thing we have is our good name. The most common reflection of our reputation as a trustworthy consumer is our credit report. Unfortunately, the information contained in our credit reports, which are bought and sold daily to nearly anyone who requests and pays for them, does not always tell a true story.

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My best advice to anyone concerned with their financial condition is to seek the advice of an attorney licensed to practice law in their local community. At the very least, the attorney should be able to assist in sorting through the various programs being offered to consumers. Talking with an attorney does not mean you must file for bankruptcy.

Well there you have it, but one last word. Talking to an attorney may be a good idea IF he in consumer oriented, has fought the Credit Card industry and does not immediately steer you to file for bankruptcy.

Sad to say if you don’t do your own research, Do Diligence you are heading for more problems and hard financial times. The judicial system is alien territory. You or your counsel must know the law and assert it or you get what you get, which as the team of Mr. Detweiler and Bob Markoff state is that you “will end up being sued and garnished”.

Your comments on this article are greatly welcomed.

I spent many hours reading the links, leaned much and tried to make then valuable and pertinent to this discussion.

Thank you for taking the time to read it.

This is an ethical, moral and completely legal program to show you how to get out of the spiraling clinches of “Credit Card Hell” and take back your credit worth reputation. This is NOT– Debt Consolidation, Debt Settlement, Arbitration or Credit Consumer Counseling. Don’t even think about considering the stigma Bankruptcy would carry for you—and the additional expense that goes with it… Visit us at Credit Card Rest In Peace

We look forward to getting you back in control of your financial future!

Check out my blog at Eliminate-Credit-Card-Debt-Options

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United Credit Education Services is a BBB member with no complaints

Contact Us At Credit Score Fix or VRTech Marketing Group

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The simple truth is that borrowers are victims of predatory lending and don’t realize they’ve been taken advantage of…Mortgage Crisis Solutions

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We go about our days as if nothing really, really serious is happening or has changed. That is understandable. The level of day to day drama we are exposed to is so acute and over-whelming that it is wonder we get through it all. I have previously quoted from Catherine Austin Fitts’ The Solari Report

“Although it is unpleasant to acknowledge, we are caught up in an invisible war. We are being tricked and, in many cases, we can’t see the game. It follows that if we don’t know we’re being ‘played,’ we won’t know how to protect ourselves”. I also say, as does Catherine that the goal is to remove the barriers that prevent you from seeing this game: how it affects your money, your health, and your safety. As we move further toward achieving that goal then we can help you take action.

In a nutshell, what we are facing through the political process is life vs. death struggle. . Specifically, it is the financial value of the life and death of various groups and ages of people vs. the life and death of large banks and corporations.

Your job for years provided your family a standard of living that ranked among the highest, if not THE highest standard of living in the world. That is no more. Rather job security for most in a delusion. Today, the philosophy of market economy, is that when a person’s skills become outdated, they will be encouraged by their need to generate income to learn new skills or change.

Great if you have time, resources (money) and entrepreneurial skills. You say you can’t make the change expected then we know that you are facing a Life and Death struggle.

Just to nail this down, consider the political discussion across the country on Health Care. The Health Insurance industry has spent millions of dollars to frame the discussion. They have successfully gotten Single Payer of the table. The industry realizes that it would mean death to them and life for American. Just like the loss of the highest standard of living American are now rank 37th worldwide.
Don’t believe it Click Below http://www.photius.com/rankings/healthranks.html

It use to be that if a large bank or corporation can no longer generate revenues to cover its operations, the theory goes that they would need to change. Management will invent new products and services, cut expenses, renegotiate with creditors through bankruptcy or shut down. Today, they are to BIG TO FAIL!

Sonia Sotomayor,as Supreme Court Justice will become the 111th person to hold Supreme Court Justice Chair and she will be the third woman justice. Sotomayor will be sworn in on Saturday, August 8, 2009 by Chief Justice John Roberts at the Supreme Court. I congratulate Ms. Sotomayor. Putting all identifiers aside this person has work tirelessly over many years to achieve the highest office in her profession- a personal triumph!

Given what I have said about the current landscape, Justice Sonia Sotomayor stands as a small whisper of hope to the dilemmas facing us. I pray that she brings all her intellect, strong work ethics, clarity to her Oath to Uphold the Constitution and ushers in a world wind of change back to Life, Liberty and the Pursuit Of Happiness to the People.

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I will get right to the point! For years large corporations have been getting away with violating the Laws of the Land and it gets worse with their BIG bucks they get to make laws that benefit them. Just consider the revised Bankruptcy Law written by the Banking Industry. It should be obvious to American Citizen that it is time to stand up for the RULE OF LAW. You are at home with your credit card bills in one hand and your check book in the other. I didn’t forget the other stack of bills still waiting to be paid. It is time for a different tactic. Whether you know it or not the banks have been playing fast and loose with the law. That is banking law, consumer protection laws, contract law and not to mention the Big C -The American Constitution.

This is no time to continue drinking the cool aide. Put your fears aside. There are solutions. Stop listening to the fear mongers. Yes there are scams out there. You are an adult and don’t need to be told that you need to look both ways at a cross walk. You can take back your power and win back your financial freedom. Asked a lot of questions. Look up the law. Take your time but move forward.

We are told that this country is still governed by the rule of law. If you believe that, it is time to fight back and use the resources here and else where. Put your fears way and do fight back. If you don’t the banks will only keep on increasing the heat until the pot boils and you are cooked!

Have you seen the Movie Brave Heart, a must see. The point here is that this is the kind of person we our looking for. Our services are powerful and work for you, but you need to be ready to fight back and assert your rights. Listen to the overview on the site below. If it makes sense to you go to my website www.creditcardrip.com and complete the contact form. I will have a brief conversation with you and e-mail you all the details for your consideration.

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