Tuesday, October 6, 2009

Credit Card Pinch .... "Last Call" to rob Ya'll (PART 1) .... : )

I just wanted to post this short video to show an example of what I was pointing out in several of my earliest posting's in 2008 ... about how credit card companies will pull a last "bite" later because of the outgoing of the Bush administration...and the rumor's that credit regulation's was fixin to come down on them in 2010, so they would pop out a bag of new scam's. This is one of the example's here.How did I detect this "bite"? Lesson here is once any law's/ legislation get's proposed, and they know that it's fixin to come down on a certain date ... that gives them time to readjust new scam's to lock in a contractual scam before the deadline, making it all legal. NEVER listen to the swarm of ad's and call's, mail, etc. now (or after date of new legislation is locked in) and buy into it ... as I posted earlier ... they will rush to make a bite because of the time frame ... as Paulson did when I said they would try to rush bailout before closing administration as well ... because of the lock- in factor. Same with those who refinance you ... dont buy into it, and you wont get burned.

***** CNN: After credit card outrage, Ohio couple gets relief

***** CNN/ MONEY: Overdraft fees: Senate gets tough

POST NOTE: This is especially important if you live in such state's like New York, Florida, California to name a few ... because those state's are stricter as far as the power for these bank's to garnish wage's and even in some cases incarcerate folk's who cant fork up the buck's they owe. In Texas this isnt law though ... in Texas ... your wages can only be garnished or property tampered with because of back child support (deadbeat dad's/ mom's) or on income taxes state/federal (Texas also has NO state income tax either). Bottom line ... in Texas ... you could actually go to a Delaware Bank as example (or out of state of your choice) borrow ten's of thousand's, and legally ... if you defaulted ... they couldnt touch you unless it was through a court proceedure(s) in hearing's in your presence ... and STILL could not garnish your wage's or take property ... and it would cost them an arm and a leg to pursue you. By NOT pursuing you ... they can take your defaulted loan ... push it off to a collection enterprise set up out of some storefront joint or even just an online existence, and sell your default for say pennies on the dollar ... then the buyer and the intitial lender could both write them off yearly on taxes as a "loss" and get tax credit for the loan amount and do it the next year and so on ... so in reality they make a fortune off of your default ... meaning in a state like Texas to pursue you would be their loss. Contact your State Attorney General's Office for info on your rights.




Rita said...

Last call to rob Ya'll is a very good title.

I think it's very hard not to buy into all that credit card stuff, because it's such a big part of American mainstream culture & our consumerism. For instance, I opted out of having a TV when I got divorced almost two years ago. Last weekend while I was babysitting my twin granddaughters overnight, I watched television at my daughters house for the first time since my divorce. All the commercials seemed so blatantly commercial & the TV shows seemed so shallow. I don't remember it being that way when i was married & we had 5 TV's blaring 24/7 throughout the house.
My point is, I think we get desensitized to the subtle messages when they are in our ear all the time.

Ranch Chimp said...

Heh,heh,heh ...The title was kind of a joke cause I pictured all these hustler's back in 08 frantically biting their nail's,nervous,cause a new Sheriff (administration) was coming to town,even though no one knew who it would be at the time...they even were afraid of McCain...but he to them was the lesser of two evil's...that is why I was hoping for Obama so bad...cause I knew it would really put their panties in a bind for many people... I constantly wrote about how eventually he would shake up the left as well as the right, if he was elected,with that "grassroot's community" attitude! :) (I have had my eye on Obama for quite awhile actually,before most even known who he was ... so it was kind of a treat for me,I just liked his thinking)

Actually I posted early on about my credit past,and learning the hard way...back in the 1980's for instance...I got $28K in debt to credit card companies alone,took me a decade to clear that out.Didnt use cash for nothing back in the 80's besides illegal drug's pretty much.I never even seen a paycheck in them day's because I alway's used "direct deposit"...and it electronically got credited to your account even the day before payday...I charged food,alcohol,clothes,and just about everything,then once a month used to write check's to all these companies basically who financed the purchases,every few year's I would trade in my car's and get a new one,then even rent car's on weekend's because I was out of town so much,plus I had other money coming in from side venture's and was spending like there was no tomorrow.One day year's later I looked at all I done and spent and all the debt I accumulated...and said ...enough is enough basically.

You dont have tele now? Well Dear ... as you can see,your not missing a damn thing! Most of it absolutely suck's...and the commercial's are nauseating, espoecially all the pharma companies in the last month,all the financial investor's and insurance companies...they are now totally dominating commercial space, all because of this so called reform...which I am still skeptic as alway's that is another crock of shit...BUT, I will give the benefit of the doubt and HOPE...but as I wrote...I dont trust the goddamn wording,legalities, and term's they are conjuring up taking their sweet ass time with this...and re-writing,re-writing,etc,etc ... that tell's me right there...something is being twisted out of it...and that the public option if doesnt become obsolete will be twisted into some slicker than owl shit crap. Again...know how these type's operate!

Thanx fer yer visit and voice Ms.Rita! :)