If Credit Card Companies Sue You During Debt Settlement

[bruteforcementor]

The banks are not the true creditor, they sign nothing. You are the creditor when you gave them the application. Get them to sign a Declaration of Creditor Status and watch them run. You created the funds with the application, they have no skin in the creditor game so there is no privity of contract. They are probably making about 2m of your signature and give you a measley 10k of your credit. That is called unjust enrichment.

[lsl70]

Aren't the credit card statements enough to prove their case? They always have the credit card statements. I just got a summons with the credit card statements included as evidence.

[jackchief]

Excellent ! THANKS RICHARD!

[Eraser7622]

So, if you receive a summons to appear for an initial answering of the complaint, are you saying you can call the clerk to respond via written form and then NOT have to appear for the initial hearing?

[Tuberidin01]

@Eraser7622 It's not the clerk who makes the decision, it's the JUDGE!! If the JUDGE decides not to continue your case, a judgment can be granted against you. The creditor also has some say so also. If the creditor does not wish to continue the case, they have no obligation to continue the case. Just because you want to watch nickelodeon in your underwear drinking beer and eating cheetos all day doesn't give you an excuse to skip your court hearing.

[Eraser7622]

@Tuberidin01

Why is that? Why does our illegal court system, run under the UCC while masquarding as running under the Constitution, have the right to tell me, or anybody else in the Country, where we must be at some certain time otherwise be found guilty of a non-injury contract dispute and ordered to pay some corporate faceless oppressor hungry to use that money and its other ill gotten gains to create further their power vacuum as its means to wield its' own unjust influence? Think harder.

[fubecabr]

@Tuberidin01

In most jurisdictions, failure to appear in civil court is not a crime/infraction.

[luckyvet]

Here's a good idea: When you borrow money, pay it back.

[Tuberidin01]

@luckyvet THANK YOU!!! THESE PEOPLE ARE A BUNCH OF LOSERS WHO THINK THEY CAN BORROW MONEY, AVOID THE DEBT FOR YEARS, THEN TRY TO ASK FOR A SETTLEMENT????? WTF???? Then they want to complain about how the banks/credit unions are dirty, scamming them, and blame them for all of their problems. These are probably the same losers collecting social security or dissability checks over a fucking paper cut.

[rickmonoxide2]

You should never even attempt to settle you're cards, I work for a bank in there collections department, as far as settling you're cards... sure you get to write off 40/50/60% off the card, but you'll have to report that on you're 1099c forms as income, which you will pay tax on, then we come to you're credit score, once you're card is settled it will reflect as settled which will classify you as a high risk borrower in which will make it difficult living in a almost credit based world

[Tuberidin01]

@rickmonoxide2 EVERYONE... LISTEN TO THIS GUY..... YEAH.. GUESS WHAT... YOUR SORRY ASSES WILL HAVE A GOOD TIME WITH THIS SHIT DURING TAX TIME. Yep.... the loss that your sorry asses created to the creditor, is **CONSIDERED INCOME*** according to the IRS and yeah.. you'll have to pay taxes on it shit heads!!!

[fubecabr]

@Tuberidin01

Not always. The bank may not send a 1099 and if you're insolvent, then you don't pay income tax on forgiven debt anyways. Most people who are enslaved to the banksters are insolvent.

[abridgewater101]

Fantastic Video!!! You've done a great job!!! Also watch my videos :)

[legalselfdefense]

Good info. It is possible to fight these cases, and it helps if you know what you are doing.

[Tuberidin01]

@legalselfdefense helps to get an attorney with an actual LAW DEGREE instead of trusting scam artist's on YouTube.

[debtcc]

Validating a debt is a very important thing when it comes to paying your debt. A debtor must be absolutely sure that he/she actually owes the money before making any payments. You could lose precious dollars unnecessarily if you are not cautious. Don't get intimidated by what a debt collector says. Do what you have to do and then pay off the debt if it is a valid one.

[Tuberidin01]

@debtcc Like I said people, yes I know I've made some rather BOLD replies. But like I said, when someone is telling the truth, I will let them know. This guy is telling the truth. I agree, a creditor should have correct records with your signatures. If they can't provide these documents, there is a very strong possibility that your case will be dismissed in court. Of course this doesn't mean that the creditor won't find your signed documents and take you back to court again.

[TheDebtCollectorss]

GOOD INFORMATION THERE....I CAN USE IT FOR SURE

[deedeespirit16]

this video is great! it is all true. i know for a fact the information is true. but you have to make sure the judge dismiss the case w/o prejudice.

[Eraser7622]

@deedeespirit16

What are you talking about? You want it dismissed WITH prejudice.. otherwise, the plaintiff can bring future action on the same claim! if it is dismissed w/o prejudice, it will almost certainly be sold to a collection agency. All prejudice means is loss/injury.

Do your homework before giving bad advice DD

[Tuberidin01]

@Eraser7622 Thank you DD.... tell it like it is my man!!! These people have no fucking clue what they are talking about. They think they are above the law, above their contracts and feel that everyone owes them sympathy for their lying, deceiptful, scamming, ignorant, neglectful, low life lives.

[Tuberidin01]

4:12 just a thing thats settled? You sure? Please Mr. Smartass, explain to us what obligates the creditor to settle with you? The creditor can get pissed off that you tried to put him through this bull shit, demand full payment with interest, court fees AND ATTORNEY FEES and garnish you, put liens on your property, garnish your bank accounts and much more.

[rayme4raw]

@Tuberidin01 The lawyer & the creditor are two different people, it's the lawyer that will show up and make the decision. But they still have to validate the debt.  As long as you didn't borrow money from a state bank, you'll be fine. State banks follow the law & keep the paperwork, but most of the big banks which hold the majority of credit card debt are so fraudulent that they've lost or destroyed the paperwork. A third party collection agency still has to validate the debt which they can't.

[Tuberidin01]

@rayme4raw So your theory is, demand the third party collection company to verify the debt. Next, pray that through all the transfers from one third party colleciton company to another somehow lost your paperwork? Sounds like a hail mary play. Also sounds like a cheesball, pathetic way not to own up to the reponsibility to repay your debts. Let me ask you, how is this helping the economy and interest rates for everyone else? Seriously? This is your master plan? Come on man!

[rayme4raw]

@Tuberidin01 I've read your other comments, you have to be trolling for some big bank or third party collection agency.

[Tuberidin01]

@rayme4raw You may not have read my comments close enough. I've mentioned that I work for a credit union. Credit Unions "ARE NOT BANKS" they are member owned and not for profit. We are a member based co-op so the money we loan out to our members actually belongs to other members of our credit union. So when losers want to preach about demanding settlements for debts they have neglected on purpose... yeah they make me fucking sick because our responsible members suffer becuase of these losers.

[clintosfan]

@Tuberidin01 YES!!! HAHA I totally agree, on the other hand I actually work for one of those "big" banks. Credit Unions ARE better and if you're getting a credit card get one at A CREDIT UNION!!! I wouldn't say this at my job of course lol, but by law credit unions can not exceed above an 18% APR. Also they usually don't charge annual fee's or any of the craziness that banks charge.

[Tuberidin01]

@clintosfan There a pros and cons to bank credit cards vs credit union credit cards. Here are my thoughts, if your credit sucks, yeah a credit union credit card may be your better choice because of their worst interest rate would probably be 18% or lower on the interest rate. If you went with someone like Capital One who loves to charge 24 or in some cases 32% default interest rates, and this was the best offer you had, then of course a Credit Union would be your better choice.

[KRSchannel]

thank you, very, very helpful video!!

[OZRIC1985]

Thanks very much for this helpful information! What you said in this video really could save my life financially! If I do get sued, I will definitely file an answer and go to court on it asking the creditors to prove that I was the one who in fact incurred the debt and signed the cash advance checks. Thanks again!

[debtsettlementstory]

fda

[Velcroisaripoff]

Cyber - not when you get 80 percent of the debt because you get killed in a divorce........

I agree it's one thing having debt and agreeing to pay it. It is another thing when your agreed 5.9 interest goes to 29.9 for no reason. Never made a late payment and perfect history.

That is another matter and a reason new laws are coming into place.

[gregorymct]

Debt settlement is a scam.. call attorney generals office and RUN ..... rip off

[careymahoney1974]

One part where you might be off is when they win in court, because they can garnish if they win.

HOWEVER,

Often, the CC companies are just looking for a default judgement, and if you answer them and fight back, as you stated correctly, they won't go after you.

You will be at the bottom of the their shit list, and SOL will save you eventually.

Smart man here.

Good job.

[Tuberidin01]

@careymahoney1974 Really? Good luck with that. Let us know how it goes.. oh that's right, you probably won't have a computer when they garnish you and you can't pay your internet bill.

[DebtEliminationDon]

Debt settlement works. It worked for me. I only payed 40% of my debts.

[bluediamond2077]

ch 7 you would have paid back 0% . Yeah your credit score may be a little better but who cares the banks are going to collapse and credit will only be for suckers who want to pay 30% interests rates

[rayme4raw]

@bluediamond2077 You're right, the banks will go out of business, but that could take another couple of years. It's best to default now while the rules work in our favor.

[Tuberidin01]

@rayme4raw It's nice to fantasize, but it aint gonna happen. If banks crash, where are you going to borrow from? Say goodbye to the nice car, house, vacation, or money you desperately need for an emergency or medical surgery. You can borrow it from Rocko Sizzlechest who will break your legs and snap off a finger for each payment you miss. Hmmm I kinda like that idea, maybe it will keep you deadbeats from working the system.

[Tuberidin01]

@DebtEliminationDon Isn't that called stealing?

[heavyneptuno]

After 6 months: I have to settle for $ 8000 but them whan from me to pay it only in 3 months. So, I don't have that money to pay them. Also I asked payments by six months. That it not possible.

Now, What do will happend if i can't settle? Please some body can help me. Thank you!

[bluediamond2077]

File bankruptcy .The whole system is going to collapse anyways and your credit won't mean anything.

[Tuberidin01]

@bluediamond2077 Loser!

[Tuberidin01]

@heavyneptuno Ask to set up a monthly payment plan.

[376Susan]

Actually credit is not "real money" Its just monopoly money and you dont have to pay into the corrupt banking system of american enslavement,, most mainstream ppl just know about settlement but that a HUGE scam so i figured ide share this info about this amazing company who helped me get rid of my debt within a year and protected my assets(home,bank) from any liens or levy..their cost is dirt cheap..check them out debtcrisissolutions(dot)com or call the person directly who helped me 347-492-4014

[Tuberidin01]

@376Susan Did you read your contract, or just sign away, take the money, and then blame the banks for asking you to repay what you agreed in your contract? Come on, monopoly money? Seriously? Credit scores measure a persons ability to repay their debts. Interest rates are based off of your credit scores. Don't blame the banks for things you never took the time to read or understand what you were getting into. Take responsibility.

[l3etterlife]

@376Susan Nice advertisement



[starwars789]

i have a 25000 debt with that signing check thing..now out of the blue they raised my interest fee..now out of the 400 dollars i pay every month 100 goes towards the principle..BS any suggestions?

[sergantfalcon]

stop paying for at least three months. They'll be calling. When, they call, you can settle for about 50% and removal of your negative reports to your credit. you will have to close your account though.

[Tuberidin01]

@sergantfalcon What kind of sorry ass advice is that?

[bluediamond2077]

signing check thing? file ch 7

[Tuberidin01]

@bluediamond2077 Great advice loser!

[neonneo]

or pay your debt, you cheapskates....

[fubecabr]

SO, if you can't or won't pay 29.9% interest, you're a cheapskate?

[Velcroisaripoff]

Do you have a citi card and it went up to 29.99% because it happened to me :'[

[fubecabr]

Yes. I will wait 6 months and offer them a 29.99% settlement just before 180 days and at the end of the month. I had paid down my citi card principle balance by 50% in one year and 29.9% interest is how they reward me.

[Velcroisaripoff]

Yea its bull. Hate credit cards and only have the debt because of a divorce.

[CybershulDotCom]

@Velcroisaripoff - You are the one speaking bull. You have the debt because you spent money you didn't have!

[Tuberidin01]

@Velcroisaripoff No, you have the debt because you agreed to repay the balance. Don't blame it on your divorce. You understood that you were equally responsible for the debt just as much as your x-spouse is equally responsible for the debt.

[Tuberidin01]

@fubecabr Yep!!! You signed the contract, agreed to repay interest, signed stating you fully understood the contract so OWN UP TO YOUR OBLIGATION AND REPAY IT. Or better than that.... hmmmm 29.9% rate??? either you had some serioulsy F'd up credit from the beginning, or you failed to make your payments on time and deserve this rate for defaulting on the loan.

[fubecabr]

@Tuberidin01

Right, if it's a person, then he/she has a MORAL obligation to submit to 29.9% extortion. If it's a corporation, then they have no moral obligation to creditors and can declare BK or not pay creditors that try to extort them. Speaking of corporations, banks are in a class of their own. They have the right to create money and get bailed out by the taxpayer when their casino bets go bad.

The banksters have increased interest rates on people with good credit and no lates.

[fubecabr]

@Tuberidin01

A contract where one party has the right to alter the contract unilaterally is unconscionable and should be illegal.

Furthermore, banks should operate like a public utility and be subject to the same sort of regulation. Banks should not exist to rob the people and leave us all homeless and penniless on the continent our fathers conquered.

[Tuberidin01]

@neonneo THANK YOU!!! FINALLY SOMEONE WITH SOME SENSE!!!

[bico375]

erase yourdebt asap. com

[MORTGAGEMAN420]

HEY FELLOW AMERICANS,

We created this debt, let's fucking find a way to fix this! We do not need to put Band Aid on it, WE NEED SURGERY, we need to get to the end.

[zliminator]

HEY MORTGAGEMAN420 - we, our children and grandchildren will be complete slaves for decades to work off the debt we now have. Go back to your dopey, dreamy world of 420. You can do your own surgery on yourself!

[pyrouzi]

@zliminator

Someone once said, we don't need everyone to wake up...just a few of us will be sufficient to get things rolling. Let these sheep carry on living in their dream world!

[NewTalent26]

Hi, do you know what a sworn denial is and how effective is it? Thanks

[jc7622]

Which banks are known to keep good documantation records? Chase Bank?

[imreallydumb123]

chase? lol, theyre full of shit

[rayme4raw]

@jc7622 State banks and some credit unions not many. The Big Fraudulent Banks will not keep good records. Remember the original creditor doesn't often sue their customers (about 2% to 10%) most of them sell the debt information for 2 cents on the dollar to a third party collection agency. They don't sell the debt, just the information. If you ask them in writing to verify the debt within 30 days of receiving the collection agencies letter, they won't be able to do it.

[Tuberidin01]

@rayme4raw Don't hold your breath.

[Tuberidin01]

@jc7622 its usually not the banks that loose the records, it's the third party collection agencies that transfer your account over to other third party collection companies that loose your paperwork. I know I've made some bold comments on this video, but I will at least tell someone the truth instead of lies like this guy in the video. I've worked in the financial business, worked for banks and credit unions and I tell you exactly how it works.

[cognitivefun]

Yes, lawsuits are just one more step to getting out of debt. They are not a terrible thing. I have anecdotal evidence that 80% of cases can be won as described in the video. And the rest, well, so what...they can be settled too.

[CreditScoreGoneWild]

Keep in mind sometimes the Defendant is the one who is punished. Often simply because they are Pro-Se. YOU may find that you will have to pay their court costs if you lose. However, "if you got nothing, then you've got nothing to lose." :)

IMO it's best to not participate until they get a default judgment. In most cases you will find that the judgment is easily voided later on. Just make sure you don't wait more than a year to challenge it. Most judgments are void.

[Magyar1960]

So, what you saying is do not show up at court and later challenge it if they find you default?

What would be the ground for such a challenges?

[Tuberidin01]

@Magyar1960 If you don't show up to court, you can be held in contempt of court. A "show cause" can be issued where you may have to "show cause" for why you didn't show up to court. If you fail to appear for a "show cause" hearing, the attorney can issue a capias. Please don't listen to these losers. They are a bunch of scam artists.

[Tuberidin01]

@CreditScoreGoneWild Seriously? What the hell kind of advice is this telling people to wait until they have a judgment? Do you realize that employers, apartments, and jobs which require security clearance will pull credit. Judgments can destroy your life. Also usually when a creditor gets a judgment, attorneys are usually involved and you may have to pay their court costs and attorney fees. Do your homework instead of talking out of your ass.