Default on your credit Cards

[amisamiamiam]

Well its almost three years since this vid was made and guess what...credit scores are still important. haha

[MarquisdeLafayett]

@amisamiamiam somewhat imporant ... it's MUCH MUCH harder to get credit these days ... so i wasn't completely wrong ... and for anyone on the low end of the spectrum , it would have been better for them to max out their cards rather than have the credit card company cut their lines proactively .

[asubjectiveopinion]

I've been wondering why it still takes 5 days to "process" an electronic transfer when we live in the 21st century.

Apparently the money is used, by the card company, to play the overnight markets.

So, basically, the payments take 5 days because the credit card companies gamble with it.

And they wonder why we hate bankers so much...

[MSM586]

Way to tell us the truth

Great video shove it to the credit card companies

[roxcyn]

Hi! I can barely hear you. I cannot see you, why would we want to intentionally default on debts that we owe? If we don't want debt then we should use cash - check - debit card. There would be no need for credit card, then.

[gasdorf]

the voice of smart man ...fuck these bankers

[jerktrucker]

fed law sais you can ask them to stop contacting you and must comply. just don't do anything fraudulent, it's not illeagal to owe money. read the "fair debt collection act".

[777ManningFan777]

God bless. A million blessings upon you. The voice of angels sometimes comes from strange places.

[perdition79]

Keep up the good work. You're right-on in your assessment of unsecured debt and the coming economic collapse. Credit scores are meaningless numbers, and it would benefit many to go cash-only. Knowledge is power.

A bit of unintentional comedy with your video is that the third listing under "suggestions" is a Suze Orman clip. As some people know, Orman is on the payroll of the Fair Isaac Corporation, and has been for quite some time.

[Kane6676]

You are a great American and you are doing us all a great service. Thank you for having the guts to speak the absolute truth. Im suscribing to you and hoping you post alot more vids. What do you use to alter the voice? It sounds like the bad guy from the road warrior, I love it

[MarquisdeLafayett]

@Kane6676 the secret in altering my voice was to watch the dark knight over and over and over again ... after that you can sound really scary at will ... ( but it's only scary if your wearing a ski mask , without it i would just look crazy )

[steveh777ify]

@Kane6676 Yes, Great video. You should check out "Debtors Revolt" which highlights the abuses of Bank of America. The sooner we understand that we are, effectively, in a WAR with the Greed and Usury of the Big Banks, who are now entirely discredited, the better !

Good Advice too. I work as a Financial Adviser (Honest!...) and have NO time for the crooks who charge 29% APR when here in the UK the base rate is 0.5%

If you are prepared to sacrifice your credit rating...

[hotbiskits]

i like this guy in black.

[YoTengoCorazon]

Why are you entitled to use other people's money and not pay for it? That's the money of everybody who has invested in the bank. And, while credit card companies can't "take" your house, they can put a lien on it. In addition, if you follow this idiot's advice, adn go bankrupt, you can be required to accept a Chapter 13 BK instead of a Chapter 7, which means you're put on a debt repayment schedule. If you don't want to agree to the terms of a credit card, don't accept it.

[Kane6676]

@YoTengoCorazon

Why was the bank entitled to billions in tax dollars because they made toxic loans? Why is my company entitled to make more money off the work I do then I actually make? See entitlement works in all ways.

[gregnick3377]

Yeah, follow this advice and get sued, then garnished, then if it's bad enough you get to declare bankruptcy. Genius. The best you can do is pay them off and never deal with the companies again. If you can't pay them off, because you're unemployed or under employed, that's one thing. Maxing them out and stiffing the credit companies is ghetto mentality. If you're cool living like that, I would not want to know you.

[basserjack]

EVERY ONE SHOULD CUT UP THEIR CARDS AND SHOW THE BANKS THAT THEY NEED US!!! DON'T KEEP PAYING THESE FEES PEOPLE. i CUT MINE UP! NOW GO TO YOUR WINDOWS AND OPEN THEM UP AND SHOUT I'M MAD AS HELL AND I'M NOT PAYING IT ANYMORE, DO IT NOW AND TEAR THOSE CARDS UP TODAY!!!!!!!!!!!!!

[fike301]

This guy is correct....last 10years never missed a payment on a single card or loan anyhwere.....however have had already this year had a few cards slash my credit lines and raise rates. ummmmm?

[nirvgardengod]

they can garnish wages (like mine for example) and also go after bank accounts

[mblasko]

Im getting a few collection calls a day on three credit cards I owe on. I only owe about 2K per card, but now that Im unemployed cant even make minimum payments. It's been at least 6 months since Ive made any payments. ..the funny thing is is that my total balnce due is comprised of at least 30 percent accumulated interest!!

Will a cc company take me to court for a 2K debt?

[MarquisdeLafayett]

NOPE ... also make sure to empahsise that your UNEMPLOYED .. do some crying on the phone and tell them that you barely have enough money to keep the heater on so that your new born son doesn't freez to death in the winter cold , either that or go all perv and ask the caller what their wearing right now ? " is it soft ? can you rub it with your fingers , what does it feel like , can you describe it for me " LOL they won't call you back after that!

[MarquisdeLafayett]

wow , five thousand hits , i remember when i first made this video ( my very first one ) how excited i was when i got thirty then 70 and finally 100 ! and look at it now ... not bad for a guy with no physical apperance or tits eh ? ; )

[ibislee]

Hey Optimus Prime, that is hilarious sh*t.

[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

[MopDMTBARTL]

The Vatican-Pope-Jesuits-illuminat­i run the world. they have all the judges, attorneys, doctors, major corporations, etc. all in their back pocket. bought & paid for, etc. our country is no longer free -we live in tyranny! truth an obscure thing, Oppression & lie is the norm. Were all slaves- our masters, the elite, r at least 50 years ahead of us in knowledge, technology, info., secrets & r using all of it against us!

Go here:

truthknowledge. com

Spread it! Time is running out!

[MarquisdeLafayett]

NO ! you've got it all wrong ... it's not the illuminati , that's a lie they want you to beleive , it's actually SANTA CALUSE and his domonion of eleves trying to take over the world ... don't you know they control the north poll ? Their orginzation has already created santa worship, there are pictures of him and his crew everywhere! Having chirstmass once a year is just the begging , soon it will be santa worship 365 days a year! their trying to enslave our minds! don't let them !!!

[steveh777ify]

@MarquisdeLafayett Yes. They are Santa-ists, not Satanists, but they are even worse. His Elves are hideous hobgoblins who mask their contorted features with silly hats with bells, and daft costumes but they are EVIL. They want to roll out the "Peace and Goodwill to All Men" thing ALL YEAR ROUND. Can you imagine?

They also have a mandate to enter your house illegally ALL YEAR ROUND, not just on one night.

Bastards !

[HurricaneHeidi]

You are absolutely right. I defaulted on over $94,000 in credit card debt and I defeated Citibank in court - forced them to dismiss their case against me.  I took the time to learn how to represent myself without ever hiring a lawyer. I completely avoided being sued by 3 out of 4 of these credit cards, and the 4th one I defeated.

I explain exactly how, step-by-step:

watch?v=kkcnQdWzC3s

Do it as Civil Disobedience to protest the fucking bailouts of banks and wall street thieves.

[travelbytommy]

I don't like the fact that the banks got bailed out, but I think one of the reasons they got bailed out was because people didn't pay their bills. I think this was more mortgages and not credit cards, but the same principle applies. I don't agree with huge late fees and stuff, but if you used your credit card you should pay it off like normal since you received goods and or services by using the card, and not paying is like stealing.

[deathmarch5]

Its all about slavery. Abriham Linclon made a deal with the devil when he supoidly "FREED the slaves". This bough the aficans time to have a taste of it but they will never be any less bonded that the white man next to him as long as you except the mark of the beast. its the ONE dollar bill that has the clues to who is the master of us. Its on every main street sing post in every town.here is a clue" free and acepted." youtube Eye of the pheonix learn who owns you!! P>E>A>C>E

[femmepen]

Dude: You need to learn what a credit default swap is. What an mortgage backed security is? What all these ponzi schemes are. Credit cards are PURE profit for these companies. They have NOTHING to do with this debacle.

[hawaiianred21]

Ok so i stop paying on my credit cards. Should I pay them what I can when I can? What should I say when they call? We have a big screen tv on an hhgregg card. If we stop paying them will they take the tv?

[MarquisdeLafayett]

There are alot of factors here , if for instance you are low income or middle class and your credit card blance isn't over 5 thousand , stop paying completely . They will not take the TV nor anything else , hell for all they know you sold the TV for drugs . When they call tell them you QUIT your job , and only just found out you don't get unemployment pay when you self terminate . Tell them you'll pay them when you get another job (never ) .

[MarquisdeLafayett]

Most importantly make sure you max out your card , but don't buy ipods and XBOX360 , get food and anything else that a REALLY REALLY poor person would buy ... When they check your records , it will match your story of being out of work and out of money ... Ingnore all of their threats ,Right now they are after about 10 million people , your just another fish ... Also make sure to do some fake crying and tell them that you'd like to pay them back , just that you can't do it right now ! good luck

[horsehorsehorse400]

Just what I did. Charged food etc. I suggest not talking to them Who cares about your FICO score...no one will be able to borrow ten dollars soon. I dont have harrasing calls...I dont answer, use prepaid cell phone. I used their money to buy supplies and food. Its all called SURVIVAL.

[hawaiianred21]

Ok so i stop paying on my credit cards. Should I pay them what I can when I can? What should I say when they call? We have a big screen tv on an hhgregg card. If we stop paying them will they take the tv?

[Anothercoilgun]

Fuck FICO.

Fuck Credit.

Fuck Fed Reserve.

And Marquis kicks fucking ass!

[FCKEVRY1]

You're a fucking hero and everyone is too stupid to see it!

[iloveterriers]

I agree with the Marquis.

Meanwhile, Americans are being deluded that the economy is getting better, even while more and more people are losing jobs and having their hours cut back at work. Don't be a victim -- don't listen to the talking heads of the media.

[InkedXyz]

It's only going to get worse, so take care of yourself first. After this meltdown ends a FICO score will mean nothing.

[omajo52]

wish I could of understood what you where saying.

I have never missed a payment or been late. But my interest has gone up and I am pissed. maybe your right maybe its time I take my own bailout.

[ConsentWithdrawn]

This guy is right on. We should follow his lead and default on our credit card payments. And even if they take you to court, it's bogus. I have two judgements against me. I never even showed up and I am living with my girlfriend and everything is in her name. They don't even know where I am. I haven't gotten a call from a collection agency in over a year.

[neaorin]

Make sure to include your meds on the list of things to buy before you max out that card...

[veganspooge]

Hmmmm......travelbytommie says he voted for Bush the first time against 'psycho' al gore....yet earlier says that he's only 24? that would have made him 16 at the time of the election...

[ldahoe]

travelbytommy is a fucking marketing shill for a offshore illegal traveling agency MLM scheme probably out of taiwan or malasya just like that fucking nigerian bank bs, fucking third world roach

[travelbytommy]

Wow, like conspiracy theories much? My business is not based out of taiwan, but rather the good old USA, in Colorado. It is registered with the Secretary of State, and fully regulated by the SEC, as well as several travel industry watchdogs. I am not even an MLM....how about checking your facts before you post stupid theories.

[paulsworkshop]

I was somehow making the minimums on 125k of credit cards. About 9 months ago I said "no more." Nothing happens to you. You don't even have to file BK - screw them and screw the system.

[imreallydumb123]

i owe chase 1300 dollars, but about 610 of it is due to bullshit fees....I won't be paying that shit, they can suck my balls

[KhmerD0g]

the ninja speaks and nobody listens.

[Anothercoilgun]

I listen. Are you calling me a nobody :)

[FluxRostrum]

DON"T PAY.

Spend it all!

oops.

sorry.

FUCK YOU banks get what you deserve.

[Yankhadenough]

travelbytommy i am sincerely glad you found your way here. There r many older wiser sensible lessons that you can learn , even if by osmosis, from MarquisdeLafayett & his subscribers. Unfortunately, some of us have been thru the school of hard knocks & learned all this stuff the hard way & want to spare others from frauds & scams, even "legal" ones like credit cards.

[travelbytommy]

Oh I totally think credit cards are bad, but at the same time when you use the credit card you have a legal obligation to pay the money back. I know what it is like living off of Top Ramen because I was once in that financial situation, but I still paid off my credit cards and I have quite a bit to show for it. I worked harder to get my cards paid off and once I paid them off I was used to the extra work so I kept doing it and it has gotten me very far.

[Yankhadenough]

travelbytommy Noone is saying that credit cards are not a legal obligation. What this Youtube is saying is that credit cards are taking advantage with raising fees and APR rates, and people who lost their jobs or their variable rate went up on their mortgage, then they should let their credit cards default before their house and car, and use the card for food and bills to survive.

[travelbytommy]

as much as I hate banks in general, credit cards to not "take advantage with raising fees and APR rates". You, or whoever owns the credit card, signed the contract giving the bank permission to do just that. Therefore it is your fault that they did that to you. It may have been in super shady fine print, but it was there and you signed it. I don't see why people who pay their card on time every month should have to pay for your mistakes because you defaulted.

[Yankhadenough]

travelbytommy Congress thinks the opposite of you, they just introduced a bill against Universal Default . And yes, credit cards use "super shady fine print" because they are taking advantage of people with hidden ambiguous shady lingo to raise fees and APR rates on the sly.

[travelbytommy]

I hate to break it to you but there is nothing hidden about raising fees and APR. Maybe you chose not to read the fine print, but it was all there in black and white for you to read before you signed up.

Also congress does not think opposite of me on universal default...I already stated that I am against universal default. You really need to start doing some research into things before you post stupid comments that just don't make any sense.

[Yankhadenough]

traveltom Lol, U quoted "super shady fine print" , not me. R U now saying "super shady fine print" is not hidden in paperwork? Ur own phrase "super shady fine print" clearly implies that cc companies do their best to hide things. True you did say u r against Universal Default, maybe because u know its hidden in your "super shady fine print" ! So before u go calling ppl stupid, why don't U rephrase yourself if U actually think cc's r so open w/ disclosure statements? Take Comp 101

[travelbytommy]

"super shady fine print" isn't hidden. If they wrote it in invisible ink or something then it would be hidden. It is clearly stated no matter how small it may be. The reason the print is so small is because they need to fit an entire contract in a #10 envelope...I just looked at my contract and it isn't super tiny. When you bought your house your mortgage was probably like 700 pages long. That won't fit in an envelope. It is still clearly written if you were to read it.

[Yankhadenough]

travelbytommy "super shady fine print" is your phrase, and now you are changing your phrase to "It is clearly stated no matter how small it may be".

[travelbytommy]

I did not change my phrase. It may be small print, but the print is clearly there should you have chosen to read it. Not reading it is just like signing the contract for your house not knowing it was an ARM. While the bank may have taken you for some money, the fault was strictly yours for not reading it before you used the card.

[ajpoltz]

This is quite accurate,THOSE who say otherwise work for the Credit Card companies, they watch the internet as a fulltime job to debunk blogs and info like this everywhere. Do not pay them off in full unless it is .50 on the dollar or less

[kswatcher]

I thought that too, but actually, in most states, they can get a judgement and force the sale of your assets or attach to your bank accounts. It is a matter of whether or not the debt is high enough to be worthwhile, and if you have enough assets. I guess it would also depend on judge handling the case perhaps.

[travelbytommy]

The bank can garnish your wages. That is definately more than phone calls. They have to take you to court, but they can do it. Some contracts state that they can also withdraw money out of your other accounts to pay for the card if both are at the same bank. It is wrong not to pay your credit cards because you used the money so you should pay it back. I hope everyone who doesn't pay them back are taken for everything they own...even though I hate banks.

[Yankhadenough]

travelbytommy Depends on your state's laws. If someone has to choose between their mortgage and a credit card, they should default on their credit card instead of foreclosing. This is just plain common sense.

[Yankhadenough]

Time to bust the credit card industry folks> default, Default , DEFAULT. Defaulting stays on your credit report only 7 years, bankruptcy for 10 ! Keep paying your mortgage and car loans of course, and check your state laws BEFORE you default on cc's (in case they can garnish wages or put liens on your home) . Florida is debtor's haven.

[travelbytommy]

nothing stays on your credit for 10 years. Most states can only collect for 4 years, but it stays on for 7. Even bankruptcy is only 7. With that said I think everyone should pay off their credit cards....you spent the money therefore you should pay it back.  I loaned money to friends that I wish I could get back.

[Yankhadenough]

travelbytommy Are you hearing him? We are entering a Depression. People are losing homes and jobs. People should pay for food, home and car first. If people have lost their jobs or have a variable rate mortgage , in this economy, it is best to default on your credit cards as long as you are using them first for essentials such as food, gas, rent, utilities. As he says "it's all very simple."

[travelbytommy]

First of all, nobody loves their cars more than I do, but gas is not essential. If times are that tough the bus is much cheaper. Second we are not in, nor are we headed towards a depression. Recessions come and go and the people who freak out are the ones who lose money during the process and the wealthy who don't freak out profit substantially...I just want people to end up on the same side as me when we come out of it instead of me profiting and everyone else complaining.

[MarquisdeLafayett]

travel , this is already the longest "recession " on record , every stat in almost every econmic catergorie has been surpassed for negatives ... the down has lost HALF it's value and continues to do so .... our largest banks are about ready to get taken over by the gov ... this is a depression .

[travelbytommy]

First of all the dow only consists of 11 companies all either related or semi-related to industrials. Obviously during a recession the first thing to get reduced is new building and manufacturing. That is perfectly normal. Even at 12 year lows, if you look back 12 years ago we were not in a recession. I would suggest while stocks are low to buy as many shares as you can...when they go back up they increase quite a bit faster right after a recession.

[Yankhadenough]

travelbytommy you don't have to watch the 'alternative news' to know we are in a Depression. MSM is calling it a recession , but the facts they are reporting is shouting "Depression" instead. You are falling for the "recession propaganda". If you lived in a high foreclosure state, like Florida, you would just have to look out your window to know the truth.

[travelbytommy]

I watch CNN probably at least 4 hours a day due to my profession, and not once did I ever hear an economic advisor or financial advisor they were interviewing, nor did I hear the interviewer or host say the word "depression". I am a bit worried though that the economy has fallen more in the first 3 months of Obama than it did during 8 years of Bush. Plus Obama has already spent more in 3 months than the nation spent in it's first 100 years combined.

[librano]

"Plus Obama has already spent more in 3 months than the nation spent in it's first 100 years combined."

This may be true in numbers... but in reality what is he spending? This sad excuse for a currency that is the Fiat Dollar? We need sound money backed by real value and not debt... not this currency that is robbing our wealth while making politicians look good... and worst of all passing the bill over to the children. Yeah great job obama... what a great man. pfff

[Yankhadenough]

travelbytommy oh brother, you just outted yourself! You are a Bushie neocon troll...nuff said.

[travelbytommy]

I am not a Bushie neocon. I voted for Bush the first time because Al Gore is a complete tree hugging psycho...thats it.

[Yankhadenough]

travelbytommy Treehugger vs Neocon, and who is the psycho? I did not vote that year, overwhelmed by family commitments .

[Yankhadenough]

travelbytommy "...With that said I think everyone should pay off their credit cards....you spent the money therefore you should pay it back. I loaned money to friends that I wish I could get back..."

Credit cards are not "our friends", unless "your friends" are loan sharks named No Neck Vito, Joe Bananas and Three Fingered Louie.

[travelbytommy]

You should not have credit cards unless you are going to pay them back. You make it sound like they just suck money out of you, but yet you were the one who bought stuff with that money. I don't pay my credit cards either, but that is because I am responsible with my spending and I don't have a running balance on my cards. I just bought a new car on my credit card back in October, but I did not spend one penny in interest because I paid it off when I got the bill. Be responsible.

[Yankhadenough]

travelbytommy 27% IS sucking money out of me! My Senator disagrees with you. A credit card used Universal Default on me to raise my APR because of my delinquent medical bills (which were NONE of the credit card's business!!!) My Senator filed on my behalf with the Federal Reserve and got the APR knocked down to 17% FIXED. Do yourself a favor, and never become ill or disabled, and never become the guardian of disabled adults in your family.

[travelbytommy]

Ya I would have to say that universal default is a bunch of crap.

For anyone reading this that doesn't know what that is...basically if I loan money to Yankhadenough and he paid me on time, but didn't pay my neighbor I could go after him for more money even though I got all of mine on time.

I would love to see government regulations make universal default illegal as I see no reason why someone should be entitled to more money if you pay on time.

[Yankhadenough]

ravelbytommy " I would love to see government regulations make universal default illegal as I see no reason why someone should be entitled to more money if you pay on time." Good call ! That is why MarquisdeLafayett says your credit score is unimportant now. You seem to be catching on.... gradually ;-)

[Yankhadenough]

traveltom You say you bought your car on a credit card, that is a good idea because then they cannot repossess your car if you are out of a job. I have paid off my mortgage first before two credit cards, so I am responsible. I have a free roof over my head, except for property taxes and house insurance. Now if I lose my job, the only thing I lose is that I default on credit cards, I do not foreclose. You gotta think ahead, so its good you paid car w/cc

[travelbytommy]

You are looking at it all wrong. First I find it hard to believe that you paid off your entire mortgage but can't afford a couple grand for your credit cards. That is like someone saying they own a new Corvette and then they complain they can't afford tires.

Second I paid off the credit card. I only purchased the car with the credit card because I get the points and cashback. I had the cash for it and once I got the bill I did the right thing and paid it off interest free.

[Yankhadenough]

travelbytommy "First I find it hard to believe that you paid off your entire mortgage but can't afford a couple grand for your credit cards." Did I forget to mention that I live in the real world, and have a disabled adult dependent? As for what you believe and don't believe, I know I paid the mortgage off , so who cares what you think! Only having property taxes and house insurance to worry about is a blessing.

[Yankhadenough]

travelbytommy BTW , I do get an Earned Income Credit for head of household with disabled dependent, a totally legitimate claim, (unlike your "ski" write-offs which no doubt will one day get you audited by the IRS).

[travelbytommy]

I think you misunderstand audits. Audits are not bad. An audit is a simply a way to check that everything is accurate. At least in my state an average of 1 in 5 people are audited. I have no problem with being audited...I have all my correct documentation. I don't see why you seem to be against me taking tax write-offs. I think everyone should take as many write-offs as they are entitled to.

[Yankhadenough]

travelbytommy  No, I never said audits are bad, I said your false write-offs are bad. I am not afraid of audits at all, as I never make false write-offs.

[travelbytommy]

Feel free to elaborate on which one of my write-offs are "false". Considering that I have had my travel business for 3 years now (only 2 1/2 calendar years, but 3 fiscal tax cycles) and have claimed the same write-offs the last 2 years without an audit obviously the IRS feels they are not in violation of the tax code. Plus my tax attorney has reviewed my submitted return all 3 years with no objections. I think you are just jealous because I claim more or something.

[Yankhadenough]

travelbytommy You haven't been caught ...yet. Lots of pyramid scams and Ponzi schemes operate for decades, but still have thousands of victims in the meantime. You are hung up on jealousy. I am not jealous of successful people in real legal businesses.

[travelbytommy]

well the company I go through is regulated by the SEC, as well as numerous travel related organizations, and is also a member of many other travel organizations such as CLIA, so if none of them think we are a scam, why would I believe you who doesn't know anything about the travel industry? Not to mention that Carnival Cruise Lines is the largest cruise line in the world and we are their #2 provider of customers, and have received their highest award 4 years in a row now.

[Yankhadenough]

travel "well the company I go through is regulated by the SEC" lol, that is the kiss of death for anyone suckered in by pyramid scams/Ponzi schemes! Bernie Madoff was "regulated" by SEC for years & slipped by them, because he falsified so much paperwork. It was one man, wish I could remember his name, that warned the SEC about Madoff for years, but they would not listen until it was too late and victims were scammed out of BILLIONS! Don't want to waste MarquisdeLafayett's YT space on this.

[travelbytommy]

Apparently you know nothing about the travel industry, so maybe you need to get better educated on the industry in which I operate by business before you call me a scam. You will see that YTB is in good standing, and has won many awards from multiple travel trade organizations. You are comparing me to the financial industry, but I sell travel....BIG difference. People give me money in exchange for airline tickets, hotel rooms, and cruises, NOT fake stock investments. Do your research first.

[travelbytommy]

Don't forget you have property taxes, home owners insurance AND credit cards you are about to default on. And just so you know, since you own your house, the bank can take you to court for your credit cards and place a lien on your house. Maybe you should just pay off your credit cards like you are supposed to.

[Yankhadenough]

I really like the way you think.

[madridisinSpain]

This guy must have fun making this videos!

[KhmerD0g]

good idea about defaulting on credit card. but don't they just raise the interest rate at will? my current interest rate is 10.9%. what if they decide to raise the interest rate to 209.9%. i'm then screw.

screw the credit card company.

[corbader]

I think you missed the part where you aren't suppose to pay them.  What difference does it make what your rate is if you do not plan on paying them.

[KhmerD0g]

true. the ultimate goal is not to pay them.

but with fixed APR you can easily pay off the debt during hyperinflation period. with variable APR, the credit card company can raise the rate as high as they want, to keep up the hyperinflation.

[travelbytommy]

I don't know the maximum but they can't go past a certain amount. I believe it is 30 something percent. And that is annual not monthly. 10.9% is good...I think mine is around 7.9%

[KhmerD0g]

u know many financial institutions donate money to the politicians during the compaign. they also have lobbyists in Washington working hard. the politicians are working for the donors, not for the little people. if hyperinflation is 60% and the credit card maximum is 30% APR then the lobbyists will try to get law to repel the maximum set.

how the hell did u get 7.9% credit card? the lowest i can get is 9.9%.

[travelbytommy]

Ya I know MBNA (now owned by Bank of America) was Bush's largest contributor. I definately think that there is some corruption going on there, but people did sign the contracts with the banks when they opened the card.

As for my credit card I am only 24, but I own my own online travel company and I pay my bill every month. I bought my Audi on my credit card so I could earn the points and then just paid it off at the end of the month. Visa Signature cards have no month-to-month limit.

[Yankhadenough]

travelbytommy Just as I thought, young and footloose , fancy -free. Let me guess, single , no kids, no dependents, right?

[travelbytommy]

No kids, but I own my own business so I would consider everyone that works in that business a dependent. If I don't get paid then they don't get paid and that would be a HUGE deal to me. They may not be dependents on my income taxes, but they still depend on me so I can't let them down.

[Yankhadenough]

travelbytommy Sorry, but its not the same, as you would know the tremendous difference if you had dependents . They are not just tax write-offs, but lifelong family commitments.

And do you really "own" a legitimate business? Do you have employees? Are we talking a legitimate business, or just aother network marketing scheme (aka MLM)?

[travelbytommy]

I don't know why you think network marketing is a scheme, but it is a very effective way to start a franchise business as long as you pick a good company...there are a lot of bad companies out there.

I also own several businesses including a car wash, car detailing business, car show, and a production company. But I still would not have had the capital to start those had I not started my network marketing travel business.

[Yankhadenough]

travelbytommy You seem like a very nice (albeit naive) young man. I do not want to see you sucked in & hurt by a pyramid scam. They are a dime a dozen, Madoff's was only notable because his was the largest Ponzi Scheme in US history run by one individual (or so he says, seems he will fall on the sword for only his family)

[travelbytommy]

I don't think you understand what a Ponzi scheme is, or what network marketing is. You tell a friend about a great movie you saw...same concept only you get paid on it. I am curious as to how you would compare a Ponzi scheme to network marketing and think they are the same. If it is because they both look like pyramids I hate to break it to you but corporate america also looks like a pyramid. Only with network marketing I can and have made more than the person that brought me in.

[Yankhadenough]

travelbytommy You do not understand what a Ponzi Scheme and pyramid scam are. They are different, but they are both scams.

[travelbytommy]

Network marketing is not a scam, but a type of business structure. Network marketing is a great way to get a franchise type business for little money. YTB offers me the same thing for $450, that American Express offers for $10,000. Actually YTB's vendor base and booking engine is even better than Amex. Plus a pyramid scam requires you to sign up people to make money. I have only signed up 4 of my friends in the last 3 years and that was after they asked me how to join...so it's not a scam.

[Yankhadenough]

travelbytommy watch this tommy:

/watch?v=icO0PoFCoTg

[travelbytommy]

The case was dismissed. The attorney general was going after what they call "card mills" which are travel companies that offer to sell you a card which gets you discounts on airlines and travel without actually selling travel. YTB proved they sold over $500,000,000 in travel last year and the case was dismissed against YTB. Those types of businesses should even sound like a scam because they claim you can get travel agent benefits without selling travel. I think card mills should be stopped

[Yankhadenough]

Yeah, you and others bought $500,000,000 worth of travel from YTB scammers . How much did YOU make last year in the "bizness" ? (after taxes , expenses, your personal travel purchases, etc)

Listen to a real travel agent:

/watch?v=6sRwSinIksI

[travelbytommy]

So if people bought $500M worth of travel from YTB last year and they went on those vacations, then how did they get scammed? Not only did I book through my own website and get a commission for the travel, but I also ended up saving money and stayed at nicer places. I fail to see why you think it is some big scam. It is the #26 largest travel company in the world....how can it be a scam?

[Yankhadenough]

travelbytommy I give up, you will have to learn the hard way. I really hope you don't , but I can't waste my time on an innocent brainwashed scam victim anymore.

[travelbytommy]

I even offered to hand over the keys to one of the best American sports cars ever made and all you had to do was go to my website and show me where the scam was, but so far you have not even attempted that. Surely for an exotic sports car, if there was anything remotely looking like a scam you would try, but since you haven't even attempted to show me where the "scam" was on my website, I will assume you have figured out you were wrong and just don't want to admit it. Anyone else interested?

[Yankhadenough]

travelbytommy YTB is clearly an illegal scam though, its just a matter of time before they are outted , or they close shop & run with your money. Please be careful, or better yet, quit YTB.

[travelbytommy]

YTB is a publicly traded company who booked over 500 million in travel last year. They are rated the 11th largest leisure travel provider in the US. I am not sure how they can run away with my money since I make back at least 10 fold my original investment every month. I have used my travel commissions to pay for all of my other ventures so I do not see how it could possibly be a scam. Plus I have met the founders and they are not scammers.

[Yankhadenough]

travelbytommy meeting the founders means they are not scammers? Tell that to Madoff and Amway victims.

[travelbytommy]

Amway victims? Amway is still in business. While I don't think it is a good company and there compensation plan sucks and they sell stuff you can get in the store for more than it costs at the store, it still isn't a scam.

YTB also has a copyrighted compensation plan so even if the company gets bought out they cannot reduce our pay. Not to mention EVERY one of my other ventures was funded with money earned by booking travel through YTB.

[Yankhadenough]

ravelbytommy State, Feds and international courts have been after Amway for decades:

w w w. merchantsofdeception. com/

[Yankhadenough]

"Mr. Scheibeler's book is a chilling portrayal of the process by which intelligent people can persist for years in pursuing the Amway dream while making no money. It is all the more significant because he earned his way to one of the highest distributor levels in the Company....I learned of similar experiences from ex-distributors when I interviewed them for the State of Wisconsin's Amway litigation in the early 80's.

[Yankhadenough]

"...Such conditioning may explain why the tax returns (obtained for this litigation) of all active Wisconsin Direct Distributors, the company's top 1%, showed an average net income of minus $900. Why did these men and women persist....under these economic circumstances? ...

[Yankhadenough]

"...Eric Scheibelers book answers this question for those whose minds are clear enough to read

its pages." BRUCE A. CRAIG, retired Assistant Attorney General,

Wisconsin Department of Justice - Office of Consumer Protection

(This statement is my own and

not that of the

State of Wisconsin) "

[travelbytommy]

Once again I have never done business with Amway!!! Past, present, or future so I don't see why you keep telling me a bunch of crap about Amway.

My business sells travel through the same booking engine as Travelocity only we don't pay for advertising so we are cheaper 95% of the time compared to other websites. I don't think Amway has anything to do with anything associated with travel. Drop the Amway issue....you are filling up my email inbox with Amway crap.

[Yankhadenough]

travelbytommy Amway is the grand-daddy of "network marketing" aka pyramid scam...Amway and YTB, same thing, different name (a rose by any other name still has thorns).

[travelbytommy]

If YTB really is a pyramid scam then why haven't you taken me up on my offer....seems pretty simple to me.

For those who are just reading this I challenged Yankhadenough to find one thing on my website that was a pyramid scam and if he did I would hand over the keys to my Corvette Z06.

Also if it was a pyramid scam then why were we given Carnival cruise lines highest award, the pinnacle award, 4 years in a row? You would think the world's largest cruise line would not associate with scams

[travelbytommy]

Well it has been over a month now and still no response to the "Corvette challenge". I guess that means you are finally admitting that I am not a scam. I figured you would have at least made an attempt to show my website as a fraud...no matter how false the claim was.

[travelbytommy]

taxes 101...the more deductions you can claim the lower your tax liability and the less you have to pay to your good old Uncle Sam. Just because someone showed they had a -$900 income on their taxes doesn't mean they didn't make money, it just means the amount of the deductions was more than their income. They would then be able to carry those taxes forward for up to 20 years. Look up "Sandy Botkin". His tax stuff is expensive but totally worth it.

[Yankhadenough]

travelbytom Federal Prison 101 - go to see a tax consultant before you make false "write-offs " on your IRS return. Network Marketing scams are notorious for selling their "bizness" to unsuspecting victims (such as yourself) by pretending that you can do tax write-offs for ski trips and such . It is utter nonsense, & IRS got a lot of Amway victims in trouble for same "write-off" scam. It's one thing for you to be scammed, quite another for you to try to scam the IRS. Victim or not, it's ILLEGAL

[travelbytommy]

I am not sure why you think my write offs are illegal? If I were to get audited I would have no problem proving that the names and contact info I acquired while at the ski resort account for around 40% of my total travel bookings, therefore my skiing is a legitimate marketing expense.

Speaking of documentation, not only is my tax guy a tax guy, but he has also written several books and is a former IRS auditor. You can't get more credible than that.

[travelbytommy]

Again I don't like Amway and would never do business with them as a company. I still don't see how they relate to me.

[travelbytommy]

While I already stated that I don't like Amway and would never buy anything from them, I don't see anything illegal. Obviously if state, federal, and international courts "have been after Amway for decades" they didn't find anything or they would be out of business and the courts would have nothing to go after anymore. You might try a community college business class to learn more about how businesses operate.

[Yankhadenough]

travelbytommy No, you do not know how long it takes courts to build a case against pyramid and Ponzi schemes, and in the meantime there are thousands , even millions of victims being ripped off before the govt even figures it out ... look at MADOFF ! SEC did not figure out Madoff scam, some guy did that was trying to convince SEC for YEARS, well over a decade !

[travelbytommy]

Obviously you should never invest in a franchise then because I can totally see that you would be one of those people who doesn't work at it and then complains how the franchise is a scam because you didn't make money.

On the other hand my first month with YTB I made over $1200. That isn't bad considering I only pay $49 a month for my business. Now considering that flights are the only commission I get paid right away, that is quite a few people who would disagree with your scam theory.

[Yankhadenough]

traveltom

Amway & Diamond Distributors r sued ALL the time. Just becuz Amway has "appearance" of legality does not mean its not scam! R U THAT naive? U do not understand definition of SCAM. Most people r victims of so-called "legal" scams years before govt can arrest, prosecute & confiscate assets in criminal cases. And feds have made a civil case against Amway , u just have to call FTC to find out. Also, Devos pays off many politicians & GOP Party every year, take Politics 101

[travelbytommy]

I have no connection to Amway...I don't know how many times I have to say that.

I don't see why you think it is a scam. I have made way more money than my monthly investment every month, so I couldn't have been scammed. I tell my customers not to book with me unless I am the same price or better then other places they have looked, so they couldn't have been scammed. Even the IRS benefits because I write off more deductions but make more income so they come out ahead. Nobody got scammed.

[rolficus]

if it is this bad as they say it is then the world is heading into something bad especially if theres survival videos on youtube now god be with you all

[maybecominsoon]

I do agree with you, but just out of curiosity, have you found any resources online that support this as well? Thanks

[mousey1952]

Good idea,