It's Okay to Default On Your Credit Card Payments

[DallyThePuppy]

and here I thought Gaddfi was dead :P

[MarkAllenChannel]

send em $10 a month ..lol

[rbolo29]

This guy is funny..lol

[TazRulesNY]

Logic is off on this. You work for a company, they pay you. The company didn't borrow money from you and then skip town. With a credicard you are borrowing money and agreeing to pay it back with interest. If that doesn't sound like a fair deal, don't borrow it!

[BOGZASV8MA]

there are people out there committing suicide because of credit card bills...

[ShoCreations]

Great video. More should do this and maybe the credit card companies will shut down. Then we all wouldn't owe anything would we. We should revolt and refuse to pay those outrageous APR's and minimum payments. No wonder economy is bad. None of us can spend because of the credit card companies fees, APR's and minimum payments. Credit card companies, banks, and FICO companies should be brought down. We don't need them controlling out lives.

[nbelsky]

I'm likely three months away from a sizable inheritance.

Right now, I'm on permanent disability.

Basically, my credit will mean nothing to me when the time comes as I will have enough to do my business with cash or debt card.

I don't owe that much, but your logic makes sense.

[karenl1234]

it's ok unless you have a morgage and oh they find out sell your debt to a blood sucking lawyer  takes you to court you show up judgement against you! then a lien and guess what happens all over theres is no forgiveness if you are paying down a morgage or own your home the lawyers have it all covered and have become debt collectors and they deliberately destory your credit so you can not get a bank loan! I say do what they did in fight club movie! theres no bailout for taxpayor with morgage.

[avataz]

Encouraging dead beat behavior, nice one fuckwad

[nbelsky]

@avataz

Not much different from out government encouraging the credit card companies to rape it's customers.

[brendology]

@avataz No, he's just explaining to people that your well being is more important than paying these dead beat creditors. Some people think they will go to jail or loose their children if they stop paying. Wouldn't you like to know if there was a choice to feed your kids or pay a fucking creditor? The people didn't know the economy was going to go bad and a lot of their cc bills were ran up before the economy went bad.

[marcjtdc]

Are you trying to save on heat costs?

[YoTengoCorazon]

Credit card companies provide programs that lower payments and interest rates. If you don't pay your cards, eventually the account will be written off as a bad debt, which appears as an "R9" or default on your credit report. if the amount is $2,000 or more, once your account charges off, they may sue you for the balance, resulting in a judgement.. The judgment remains on your credit until you pay the bill. Do not take his advice.

[jerktrucker]

I'm glad I didn't buy a house with one of those fantastic (for the banks) arms.

[heartuvgold]

If you don't pay they simply write them off and get the money back from the IRS. Then they sell the note for another profit to a third party and they hound you for payment. Well I don't pay anyone I didn't sign a contract with and those people already got paid back. (Not to mention all the money the government stole from my ancestors who never collected any benefits.)

[honestann]

I don't agree that we should walk away from contracts we made fully voluntarily and without duress. However, no current contract that involves so-called "money" can be considered in this category. Why? Because the banksters can and DO create unlimited purely and utterly fiat, fake, fraudulant "money", then the government makes laws to force us (legal tender laws) to trade with these fakes. Therefore no contract with an entity with access to this fake "money" is a voluntary contract. Period.

[greywolf424]

@honestann " no contract with an entity with access to this fake "money" is a voluntary contract. Period."

.

BACK THAT UP WITH VERIFIABLE LEGAL PROOF.... YOU CAN'T BECAUSE YOU'RE FULL OF SHIT.

[heartuvgold]

@greywolf424 It's common sense. The bank gives you worthless paper and ten or so years later when you can't pay the debt because they raised the interest or made it impossible to pay off, and your house is no longer worth what it was when you started, they get your house. A house is not a good trade for paper is it? You don't have to be a rocket scientist to figure this out. Ever hear of an Indian giver?

[greywolf424]

@heartuvgold THE ONLY THING WORTHLESS IS YOUR BULLSHIT COMMENTS....

.

"A house is not a good trade for paper is it?"

.

SURE IT IS IF YOU PAY YOUR MORTGAGE... BUT SAFE TO SAY A FREELOADING PIECE OF SHIT LIKE YOU DOESN'T PAY ANY BILLS AND CRIES WHEN EVERYTHING IS REPOSSESSED.

.

"Ever hear of an Indian giver?"

.

EVER HEAR OF A FREELOADING PARASITE PIECE OF SHIT.... THAT WOULD BE YOU.

[boeremeisie1]

@greywolf424 First of all you poor worthless excuse for a human being.... You are talking to my mother. Before you say anything, I am very well educated as well, with several years of college education. As well as probably speak more languages than you use brain cells. Grow up, all you do is antagonize others, because your IQ is so low that you cannot think of anything more inventive to do with your time.

[boeremeisie1]

@greywolf424 My mother has her opinion and beliefs and you have yours deal with it. As far as parasite, that would be you, in that you are parasitic to others right to freedom of speech and belief. Get a clue, and by the way, in reference to the comment that you made in regards to my mother "not paying bills". Guess what, she pays bills just like every other person, and I wouldn't doubt it if

she has better credit than you.

[boeremeisie1]

@greywolf424 But there would be no point in bringing that out to a clueless imbecile such as yourself. Oh yeah, in case you are scratching your lame head trying to figure out the exact definition of "imbecile" I'll save you the trouble and just go ahead and "clue" you in. It is a term for a degree of mental retardation, as well as meaning "WEAK". So now that I have "educated" you, it would probably be best if you just "act" intelligent for a bit and go ahead and shut your gob.

[greywolf424]

@boeremeisie1 YOUR SO WELL EDUCATED THE ONLY JOB YOU COULD GET IS A MANAGER IN A DOLLAR STORE?...... ROTFLMFAO.

[boeremeisie1]

@greywolf424 hahaha See you are proving my point of your maturity level and ignorance. If it be of any concern to you. That is the job that I chose to do. I don't need a title, unlike you I am completely confident in who I am, but you are so insecure that you have to put other people down to make yourself feel better. Go ahead keep proving me right.

[89fallguy]

@greywolf424 oh really FREELOADING PARASITE PIECE OF SHIT? hahahahaha. man why get on here and try to bash others to make yourself feel good. go kill yourself ur just as gay as those people on xbox who fight just to feel superior. its ok we all know u were picked on as a kid and now you spend your days cutting yourself, eating twinkies and starting random fights with people online about shit that you probably dnt even know one thing about.

[greywolf424]

@89fallguy ==== SOCK PUPPET SHILL ACCOUNT..... TOOL OF LIARS, TROLLS, AND FRAUDS.

.

Channel Views: 12

Total Upload Views: 28

Age: 20

Joined: August 07, 2010

[89fallguy]

@greywolf424 you are the kind of a man that you would use as a blueprint to build an idiot. this is the last post i will make, because i have class! at a college! which is somewhere where you obviously have never had time to go. want to know why? because you spend your days being a douche bag online.

[89fallguy]

@greywolf424

I'd like to see things from your point of view but I can't seem to get my head that far up my ass.............just sayin.

[greywolf424]

@89fallguy OH THERE IS NO QUESTION YOU HAVE YOUR HEAD UP YOUR ASS A LONG LONG WAYS.....

[steveh777ify]

@greywolf424 Just picked up on this unedifying line of communication.

Are you a fully-assimilated Bank Of America employee or a similar corporate parasite? You sound fucked-up enough.

Get back in your Pod and start taking calls you nasty little person. (And put your hand up if you want to go pee-pees)

[greywolf424]

@steveh777ify YOUR COMMENT SPEAKS VOLUMES ABOUT YOUR LEVEL OF MATURITY, EDUCATION AND INTELLECT.

[steveh777ify]

@greywolf424 I thought so too. Thanks.

[coldkidc]

yeah...who needs a house or a car...pay cash for everything right...oh wait...you don't have cash...otherwise you wouldn't have got yourself in trouble with the credit cards...hmm...

[ConsentWithdrawn]

@coldkidc Actually, since I walked away from the debt, I have plenty of cash.

[vacationboyvideos]

@ConsentWithdrawn yea i got cash to...but want to build my credit and then just not pay the dept after i have fun racking up the cards

[josephga]

I originally owed close to 24.000 they are offering to accept in the 9000.00 range

[BitternThe]

So basically... forgive the language. The corps dont care if they fuck you, so why should you care if you fuck them.....

The heartening thing seems to be that all over the world the resistance is rising...

[ConsentWithdrawn]

@BitternThe Exactly! And indeed may it rise and rise.

[greywolf424]

TYPICAL OF A CRACK HEAD LOSER WHO HAS NEVER DONE AN HONEST DAYS WORK IN HIS LIFE

[heartuvgold]

@greywolf424 You must be a crackhead loser yourself. I see you on all kinds of channels bashing everyone and everything. You seem to have a lot of time on your hands. But you don't have anything constructive to do. BTW. I am very well educated, thank you for your concern.

[artsychic2000]

tell the credit card company to produce the original contract. It was likely sold off moments after you signed it. When you signed it you created the money. It's put into your account electronically but no real money ever exchanges hands. At the same time that you create the money with your signature backed by your labour you do not create the interest. The debt is then impossible to pay back. I've sent 3 letters at 10 day intervals giving them ten days to produce the agreement. Nothing!

[Largo64]

Hi, "Consent"! Boy, I couldn't agree with you more. A number of years ago I worked for an aerospace company in California, expecting to continue doing so and eventually retire from them with a pension. I worked up in responsibility and pay grade, and was doing okay. Then some executives in a board room in New York decided that closing that profitable California division, sending the work to a Texas division where labor was cheaper, and letting the CA employees go would make their profit bigger.

[Largo64]

(cont.) Corporations typically expect loyalty FROM their employees, but give none TO their employees. When the above shake up came I was too old to replace my job with something on the same level. In fact, from that time on, I never landed any but temporary work. Now, at 67, I live on Social Security alone. I hadn't enough years with that company to qualify for a pension

[pantyflash]

Like, you know, I lost count, you know, of how many times, you know, that you said, "You know," so I guess, you know, that I really do know now. Did you know?

[thebrodieshow]

Why are you hiding yourself? It just makes me NOT believe anything you say.

[818doodooroo]

@thebrodieshow maybe he is cold..

[MzProgressive]

I like your logic about how corporations can screw your life up, but it's your "moral obligation" to pay them?

How 'bout it's a moral obligation to set your "courtesy policies" in black and white? Banks are using entrapment techniques in this way, while avoiding FTC regulation. Beware!

[gears2boomshield]

Wait, where are the trolls that are on every debt collection video I've seen? "Pay your bills deadbeats HUR HUR HUR HUR" Maybe retards like that haven't found this video yet! But give it time. I just had a debt collector literally the day after they sent me an initial letter, that a debt was transferred from another company to theirs, without even sending verification of the debt they are already calling! What the fuck? So they have a cease and desist letter on the way to their company.

[BamaDan197319]

@garyomglol Thanks for the info. I took care of it. Filed bankruptcy and just went to court last week. 2 hours of waiting in court, and then 2 minutes in front of the judge, and then on the way back home. I wish I had done this when I first lost my job. Everything is so peaceful when my phone isn't ringing all day.

[garyomglol]

THE TRUTH WILL SET YOU FREEEEEEEEEE!

[kentek2007]

Look up Robert Manard Freeman

John Harris it's all an illusion

Freeman strawman with alex jones on youtube

it's happening all over the world..

[wrenandox]

It's all a racket. Turning us into wage/debt slaves and making us think there is a moral standard is part of their propaganda. The rich and the corporations have ALWAYS lied cheated and stolen, they think nothing of it. They will always try to screw us. Listen to what Elizabeth warren has to say. Take your money outta the big banks, put it in a credit union. The conservatives ruined this country. Times for us to take it back and try to rebuild a better place w/o their repug loophole laws.

[cdm1701]

Wonderful Info! Many Thank!

[jacofall7]

Great video. All of what you say is true. Companies only care about higher profits each year so the stock goes higher and the CEO's make more money. They are firing their customers right now and they can't figure out why their business is going to hell. Now they want to charge 30-40% interest. LOL By the time they figure out they f'd themselves with all the layoffs to keep profits high they will have ventured past the Rubicon.

[Eraser7622]

Thank you for being in service to your community. Good video and message

[warrenmcurrier]

maybe it's just me but how is it right to borrow money, agree to repay it...

and then NOT pay it back?

I do agree that you can tell a person or a company that you WILL pay them someday... but not now because you need to feed yourself and children/ pay rent... and that you have no other money beyond that.

But if you borrow my money and go out and buy a fancy leather jacket, or such, I will come after you AND get my money back.

[rayme4raw]

Credit Card Defaults are now at 10%, the default rate is following the unemployment rate. It doesn't seem like much, but it really is because the companies can actually be losing money each month with a 10% default rate. Don't cry for them though. If I were a credit card company, I would never give a line of credit greater than 20% of that person's income, if they already have that with other cards, I would turn them down, after 20% it becomes really hard to pay anyone back.

[jonesreportdotcom]

Send them a cease and desist letter and they have to stop calling you. Change your number. Don't ever negotiate with a collection agency only the original provider of your loan. When the dollar tanks it may take the whole system down.

Done. Don't ever be intimitated.

[rayme4raw]

I learned to deal with the original provider when I was put into collections for a hospital bill. The stupid hospital waited to request payment from my ins provider six months after I visited them and I was put into collections even though the bill was paid. I had to fax the receipt to the collection agcy once every six months for 3 years before they finally figured out that they couldn't trick me. I haven't defaulted on credit card debt .... yet.

[jonesreportdotcom]

Then don't pay them a penny unless your actually taken to court (unlikely.) If your unlucky enough to get a judgement filed against you (rare)- pay them a dollar or 5 bucks a month to show the courts your making a good faith effort as an unemployed guy in a bad economy. After 7 years they have to legally discharge the debts.

[mahsih2007]

not if you are paying.. All you did was reactivate the account in which the debt is being collected... Avoid avoid avoid !!

[wylie2525]

a new party is forming.....the grand jubilee pot luck bail out party

....the banishment of freemasonery barritry and usery and all their allies will be immediate

chase..just bought out wamu.....have a wamu credit card for 3 years.....then at zero balance chase raises the interest to 21%.......thats sic...evil.....then this week they canx the credit card....

ok ..to the point.....the strategy...is to do nothing.....absolutely nothing....we can bring the nwo to its knee's by doing nothing

[rayme4raw]

That's actually true. if Americans defaulted on all their current credit card debt and on their mortgages when their mortgage is higher than what they can sell the house for, all the top banks would fold within a couple of months. Govt would not be able to print enough money to save them, believe it or not. The Fractional Reserve Banking System is a major fraud that can never survive a Great Depression, the banks really are screwed.  History shows that all bankers are morons.

[gr8ra8s]

Quite shortsighted. I was laid off by the financial machine, and still am being taken to court for civil judgement because of default on credit cards. My employment contract being terminated by the company does not alter the terms of the credit card agreement.

[horsehorsehorse400]

They can not get blood out of a turnip. Sp what if they take you to court? They can not take your house or car. It alters the terms........your broke! Don't talk to them anymore.

[BamaDan197319]

um, what happens if you have 3 credit cards almost maxed out to $7000 each, then one day you get fired along with 14 other people but continue to make payments with unemployment benefits until u cant pay anything anymore? One thing I can say that happens is your phone will never stop ringing, 7 days a week, once an hour for 14 hours a day. I wonder how jail will be when they take me away?

[garyomglol]

@BamaDan197319 You cannot end up in jail. If it goes to court its civil...not criminal. If you are found guilty of being "poor". Poor is not a crime. Do not loose sleep over this. Lots of people lost their jobs and can't make rent payments let alone credit cards. I'm one of them...you are NOT alone. I max my cards paying for my mortgage..for 2 years hoping that the house price would rebound. I've dug myself into a deeper hole. All maxed now..and my house is gettin' foreclosed LOL!.

[solarisgalrocks]

oh wow, so you guys are also at 30% with BOA? lol

[meowfornow]

All I want to say is THANKS for helping me deal with a crummy situation. I was paying my cards faithfully until Bank Of America sent me a notice informing me that they were jerking my interest rate to 28% from my usual 11%. When I called the guy on the line told me that the bank was conducting a stress test & they wanted me to pay off my balance quicker & that this was their way of motivating people like me. After I was all cried out I looked for some help & found this site, Thank U!

[mahsih2007]

give them a stress test !!! Rack up your limit as mush as possible and screw em for as mush as you can !!!

[meowfornow]

Thats pretty much what I did, thanks. Aside from screening my calls it's been not such a big deal, it's actually a relief not to be stressing about being on time & scraping together every payment like I did for years

[mahsih2007]

I can imagine how stress relieveing it is to just say the hell with it and let them (the bank) figure it out.. You dont need to screen calls , just tell them that they have the wrong number !! And to please not call that number anymore !!

[meowfornow]

Thanks pal, good idea!

[mahsih2007]

Depending on the amount of money you have and the amount you owe, You could set yourself up as a debt collector or debt agency and basically act like those guys who buy debts. So what you do is be the one (debt collector) who buys his/her own debt for a negotiated low price like maybe 10cents on the dollar and then report yourself as paid debt. The report the paid debt to the credit bureau. Then your home free !!! LOL haha

[meowfornow]

Brilliant idea! Thank U!

[horsehorsehorse400]

WOuld this really work? You are a TRUE GENIUS!

[horsehorsehorse400]

I had great credit...then saw the depression coming. I maxed out credit cards on supplies/silver. I dont answer the phone...have a cell phone. This is called survival.

[mahsih2007]

supplies / your normal bills for living.. silver// or gold is nice !! And have a lil fun on it !! but good call !!! With the depression they would have reduce all your limits !!

[bluediamond2077]

Same here had a 780 credit score. I seen the collapse and stocked up on a little silver . Some supplies, guns and ammo maxing out my cards. They raised my interest way up from 7.99 to 30% after I bought everything. Then towards the end they hit me with 6 $40 charges each charge was for every time I attempted to use the card after it was maxed out. My first CC to go past due was on dec 8th I have 6 more that will become past due this month. I lost my job and am now making half.

[bluediamond2077]

want to add I was not irresponsible going mad with my credit cards.I got attacked and had to defend my self. Broke the guys cell phone and spent 3 months salary defending my self in the court system. Then I got a criminal speeding charge in the middle of nowhere and it was all down hill from there. It was the legal system that screwed me taking my life money away making my debts go so high it could not be repaid. After that I was like f it. I need supplies and spent $5,000 of the$34,000 preparin

[horsehorsehorse400]

I took my phone off the hook, got a cell phone, and if I do hear the collectors (really a 3rd party now not the credit card co) I hang up. It's called Survival NOW.

Now 2 years later I get letters saying they settle for about 20%...........I threw the letter away. Times are very different. I use to pride on being "good pay." They can't get your house or car. Put your cash in silver.

[bluediamond2077]

They say if they can't get a hold of you they call your work your family even the guy next door. Read the bankruptcy forums that's the worst you can do. The best thing to do is play a game with them and tell them " Times are hard I'm looking for a better job and things should turn around soon. Keep telling them that to buy you time so they don't sue you right away. File CH7 once you saved up enough for a lawyer

[horsehorsehorse400]

I think if you verbally say you will pay that extends the time they can collect. I think after 7 years it is off your record even if you do nothing. Don't talk to them. They would have to sue a million people. Dont be intimated by their threats. My attorney said do nothing unless they file a judgement against you. I dont work and have nothing they can find. So what if they get a judgement. No Blood out of this Turnip.

[BamaDan197319]

@bluediamond2077 They do call your family if you don't answer the phone. They called my aunt that lives next door to me and had her give me the message to call the company. That should be illegal, but it's not. They can get away with calling whoever.

[jengacrock]

@horsehorsehorse400 Survival indeed.

[oltime59]

Excellent job on the video. Its very interesting that congress passed the bankruptcy law of 2005 basically keeping people financial slaves to the banks for life. Now, good thing this bill wasn't in effect when Henry Ford went bankrupt about a half dozen times before he got it right.

People have no choice other then to just walk away, get an unlisted number or cheap pay as you play cell phone and move on.

[oltime59]

I would go as far as to say don't send any money in because by that time your paying 30% interest with no end in sight.

I say just walk away, never pay, make them eat it and plan on dealing in cash for the rest of your life.

[Dewdaahman]

so far 2 of my credit cards have changed the "terms and conditions" tellin' me that I signed a binding contract and I have to pay it.. to me it's FRAUD.. as a carpenter I can't write the same kind of contract because they wouldn't sign it if they knew I could change the terms and conditions..

my credit card company to me that was apples and oranges.. if they do it it's legal, if I do it my community labels me as a thief and I get no work..

[ConsentWithdrawn]

I completely agree with you y friend, but we have to fight the injustice any way we can. I am essentially homeless by goverment standards because of it, but I still have my feedom and that nobody will take.

[greywolf424]

@ConsentWithdrawn

No one forced you to get a credit card..... you are a fucking loser..... you won't be able to get a glass of water on credit for the rest of your life.

[artsychic2000]

@greywolf424 the banks don't tell you that you create the money when you sign the papers. They then sell the note and get paid again. They do not create the money to pay the interest so it can never be paid. You are paying the imf with your labor. If you are the third one to buy the same house how many times should the bank be paid for that same house? How did the bank get control of the house in the first place?  Open your eyes before you start calling people names. Are you a banker? lol

[greywolf424]

@artsychic2000 MORE BULLSHIT

[artsychic2000]

@greywolf424 go ahead and be a sheep then. With a handle like greywolf maybe you are a banker after all : p

[greywolf424]

@artsychic2000 YOU ARE THE SHEEP, YOU ARE THE ONE JUMPING ON A BULLSHIT BANDWAGON TO NOWHERE.

[heartuvgold]

@greywolf424 The national debt that THEY created is being collected from the backs of all you good hardworking citizens they call slaves. Government? Who wants to be governed? Frankly I don't need a nanny any more. If you work, why be self employed and pay your own way instead of allowing someone else to do it for you?

[greywolf424]

@heartuvgold "hardworking citizens they call slaves"

,

NO ONE CALLS ANYONE A SLAVE LOSER

[at880]

@ConsentWithdrawn you can't afford to pay for your credit card but you can afford an unlisted number and a webcam funny lol!