Credit Card Debt - Beat the Game No Matter What Cards You"re Holding
Winning the credit card debt game requires a winning strategy and it all depends on whose rules you're playing by, yours or theirs.
Most people have no idea there are two sets of rules for credit cards, the ones the card companies force upon you and those issued by the Federal Government.
If you play by the card company rules, then you will pay the percentage rate they demand which could exceed 30%, pay on time or face late fees and your credit limit will be whatever limit they decide.
You will be forced to pay for years and still be in debt.
You're always a loser! The rules will take a toll on your life both physically and mentally.
You will hold your "nose to the grindstone" making money to pay that relentless card debt, strain your brain figuring out how to make ends meet and possibly be forced into nonpayment because of the present depression economy.
The "debt collector and credit scores" are the main reasons most people keep playing the card game using their rules because they just don't understand the collection and credit reporting parameters and you'll certainly not hear about them on the Oprah Winfrey show.
Don't worry about your credit score because you can raise it 60 to 120 points 10 to 12 months after you stop paying so don't sweat the small stuff and start saving money immediately by keeping the money you would normally be losing to the card company.
If you're tired of being a loser in the credit card game, then you must use the government rules found in the Fair Debt Collection Practices Act.
The only requirements to change the rules are to stop paying the card company and wait for about six months.
After six months the card account is written off, gone, finished, closed and forgotten by the bank.
The bank will then take a tax deduction for their alleged loss and sell your closed account information to a debt collector.
Stop fearing the debt collector and think of him as a treasure hunter.
He bought an old treasure map in the form of your closed account information and he is seeking to make a huge profit by taking your "treasure" but now the rules have changed! Never forget that you owe a debt collector absolutely nothing! You have no contract with him and his "only" hope of coercing money from you is to get you to "admit" that you owe him instead of the bank.
Are these rules not simple? If you admit that you owe him, he wins, you lose! Never ever give a collector any information over the phone including your name, your address, your Social Security number, nothing! Demand that he never calls you again and communicates with you in writing only.
If he asked that you verify your address tell him "that's your problem Mr.
collector.
" The collector will be forced to send you a written collections notice saying "unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid.
If you notify this office in writing within 30 days from receiving this notice that you dispute the validity of this debt or any portion thereof, this office will obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification.
If you request this in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor if different from the current creditor.
" In the above paragraph it says "this office will assume the debt is valid" because the collector has no idea if he has a real "treasure map" to your bank account! This letter goes on to say that it will provide you with the name and address of the original creditor if different from the current creditor.
Who cares, the account is closed! When you receive the collections notice, demand "proof" that you owe him money by answering his letter in writing, referring to the Fair Debt Collection Practices Act section 1692 and return a copy of his letter with your demand sent by registered mail with return receipt.
After the treasure hunter has battered your mailbox with his demands for treasure, you can begin raising your credit score 60 to 120 points using the Fair Credit Reporting Act by demanding proof from the reporting agencies that their data is accurate.
If they can't prove it, then it must be eliminated from your credit report.
Change the rules, win the credit card debt game and get your life back!
Most people have no idea there are two sets of rules for credit cards, the ones the card companies force upon you and those issued by the Federal Government.
If you play by the card company rules, then you will pay the percentage rate they demand which could exceed 30%, pay on time or face late fees and your credit limit will be whatever limit they decide.
You will be forced to pay for years and still be in debt.
You're always a loser! The rules will take a toll on your life both physically and mentally.
You will hold your "nose to the grindstone" making money to pay that relentless card debt, strain your brain figuring out how to make ends meet and possibly be forced into nonpayment because of the present depression economy.
The "debt collector and credit scores" are the main reasons most people keep playing the card game using their rules because they just don't understand the collection and credit reporting parameters and you'll certainly not hear about them on the Oprah Winfrey show.
Don't worry about your credit score because you can raise it 60 to 120 points 10 to 12 months after you stop paying so don't sweat the small stuff and start saving money immediately by keeping the money you would normally be losing to the card company.
If you're tired of being a loser in the credit card game, then you must use the government rules found in the Fair Debt Collection Practices Act.
The only requirements to change the rules are to stop paying the card company and wait for about six months.
After six months the card account is written off, gone, finished, closed and forgotten by the bank.
The bank will then take a tax deduction for their alleged loss and sell your closed account information to a debt collector.
Stop fearing the debt collector and think of him as a treasure hunter.
He bought an old treasure map in the form of your closed account information and he is seeking to make a huge profit by taking your "treasure" but now the rules have changed! Never forget that you owe a debt collector absolutely nothing! You have no contract with him and his "only" hope of coercing money from you is to get you to "admit" that you owe him instead of the bank.
Are these rules not simple? If you admit that you owe him, he wins, you lose! Never ever give a collector any information over the phone including your name, your address, your Social Security number, nothing! Demand that he never calls you again and communicates with you in writing only.
If he asked that you verify your address tell him "that's your problem Mr.
collector.
" The collector will be forced to send you a written collections notice saying "unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid.
If you notify this office in writing within 30 days from receiving this notice that you dispute the validity of this debt or any portion thereof, this office will obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification.
If you request this in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor if different from the current creditor.
" In the above paragraph it says "this office will assume the debt is valid" because the collector has no idea if he has a real "treasure map" to your bank account! This letter goes on to say that it will provide you with the name and address of the original creditor if different from the current creditor.
Who cares, the account is closed! When you receive the collections notice, demand "proof" that you owe him money by answering his letter in writing, referring to the Fair Debt Collection Practices Act section 1692 and return a copy of his letter with your demand sent by registered mail with return receipt.
After the treasure hunter has battered your mailbox with his demands for treasure, you can begin raising your credit score 60 to 120 points using the Fair Credit Reporting Act by demanding proof from the reporting agencies that their data is accurate.
If they can't prove it, then it must be eliminated from your credit report.
Change the rules, win the credit card debt game and get your life back!
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