Universal Defaul: Credit cards

Suzy Orman explains the basics about the "Universal Default" used by credit card companies to charge you very high interest rates.

More info at:
SCCRealEstateUncensored.com

MiCasaMiDinero.com

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• universal
• default
• late
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• interest
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[jonesreportdotcom]

Default. Send them a cease and desist letter, change your number. Credit card default is growing more popular with each passing day. The dollar is now tanking and that will soon cause big time inflation. The economic recovery is a myth. It's individual economic survival time folks. Paying them back is insane. Suzy is an over paid bubblehead.

[j0hnsc4r]

lol if anything you should default on your credit cards

[bc1969214]

There's been some updates since this video came out. The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 prohibited the practice of retroactively raising any annual percentage rate, fees, or finance charges for reasons unrelated to the cardholder's behavior with their account. There is fine print though so your account can be closed if you have an issue with another creditor.

[vacationboyvideos]

SOMEONE HELP that knows...I AM ON SSI....if i almost max out alll my credit cards and only pay them for 3-6 months and then pay 10 bucks a month then stop after 6 months or so( dont pay anymore to them)...would that be seen as fraud? i know they cant take away my ssi check, i have no money in the bank... could i go to jail?

[wndebu]

dumb bitch has no idea what she is talking about.

[pantyflash]

Like really, Suzy. It's easy for you to stand on your pedestal and tell folks not to be late on any of their debt payments. You apparently have zero understanding that for many folks, desire to be current does not equate to ability. Even with "universal default" outlawed, adverse circumstances and usurious creditors are driving folks into absolute universal default. Folks with dire finances just literally default on everything, leaving creditors holding the proverbial bag. Way to go, babe!

[HurricaneHeidi]

@rayme4raw - Yes... I've seen Suze's commercials about FICO and the credit card industry. She is a bought and paid for TOOL of the commercial Debt Slave System. She is using her popularity to support the credit card industry. I call that a conflict of interest. Who's paying her to do those commercials, hmmm?

[HurricaneHeidi]

@HurricaneHeidi - I repeat -

Your mortgage company cannot raise your interest rate because it is contractually FIXED, so NEVER fail to make your mortgage payments. Do NOT lose your home.

DEFAULT on the damn credit cards and learn to defend yourselves against collection like I did. They are not a convenience. They are a deliberately BAITED TRAP designed to make us into life-long debt slaves.

If I can do it, you can do it.

Use debit cards only and move your money to a Credit Union ASAP

[HurricaneHeidi]

@Yankhadenough - You are absolutely correct. I completely agree with you, and I speak from personal experience.

I defaulted almost 6 years ago, defeated a collections attorney myself without hiring a lawyer, and I completely avoided bankruptcy and got myself and my husband out of the vicious commercial debt trap. I published a book describing exactly how.

watch?v=kkcnQdWzC3s

The goddam banks have lobbied Congress to get bailed out through our TAXES - take back your money. DEFAULT

[HurricaneHeidi]

It is INSANE to keep making payments on UNSECURED DEBT (credit cards) if doing so makes you unable to keep up with your payments on your SECURED DEBT (mortgage).

Not only would that put you in danger of losing your HOME through foreclosure, but just as Suze says, the credit card companies would raise your interest rates anyway because of the black mark on your FICO score for missing your mortgage payments. YOUR MORTGAGE COMPANY CANNOT RAISE YOUR INTEREST RATE because it's contractually fixed.

[mrigmaiden1]

How about this? DON'T use credit cards in the first place?