The saddest news you will ever hear about your credit card debt is not your 30% interest rate or even the fact you will be 92 years old when you make that last payment provided of course you don’t use the card anymore. It’s far worse! You’ve been suckered into a card game you can never win! Sorry to be the one breaking the news to you but there are some things you can do to get even with those card sharks.
Sometime in the past 30 years you looked forward to getting that first card which announced to the world you had come of age, were trustworthy and could get whatever you wanted for the asking because some large financial institution said they were standing behind you all backed up by a contract with so much fine print you couldn’t read it without a magnifying glass.
After the zero interest transfer rates ran out when you had attempted to juggle your accounts, you began to notice the pain in your backside especially around your wallet area was getting worse and that wallet pain quickly turned into a continuous headache. The unseen superglue on the card had worked and the little plastic demon was now firmly attached to your financial life.
To see exactly how you became a slave to the card company use the search term “Frontline-the credit card game” and take notice in the beginning of this PBS special when they introduce you to the other man in the White House. This mastermind of debt set the stage for the current economic crisis.
Other large financial institutions used the mastermind plan to entrap the entire population in a vicious cycle of debt which included none other than the United States government. You only have to look around to see the devastating effects of greedy bankers gone wild. Business slowdowns, shutdowns and bankruptcies produced a cascading domino effect leading to the present economic meltdown.
All this led to the biggest government bailout of financial institutions considered too big to fail in the history of the world. You may remember the multimillion dollar bonuses handed out to top executives as a reward for devising the largest transfer of wealth scheme ever devised and guess who’s going to be paying that tax bill for years to come.
Are you ready to get even? Ready to stop paying that credit card bill and stop worrying about it? Here’s one easy way of doing it. Use the search term “FTC debt video” and watch the cartoon show. You’ll see the basics on handling collection phone calls and written notices. Some people are using digital recorders to make money when collectors violate their rights. Use the search term “man wins $1.5 million in debt collector lawsuit” to see for yourself.
When you respond to written collection notices with a demand for proof of debt, you’ll discover the collectors can’t furnish legal proof under the 1966 FTC law. Bad news for the bankers but the best news you’ll ever hear about your credit card debt. Live life and have fun!