blackmailing by credit card bank?
High interest credit card debt rates of 30% and massive card debt are causing people to do some really dumb things like looking for consolidation loans or some crazy debt settlement scheme to add more interest to more debt. This kind of thinking is like putting Bill Clinton in a room full of interns. You're just asking for trouble and you could even lose your home in the process.
It could happen to anybody. This seduction thing has been going on since Eve gave Adam an apple but in the digital age it's turned into a romancing the card deal with little perks like travel miles and 0% interest transfer rates which seem like a good thing at the moment. But just like poor old Bill, we all get caught with our pants down, holding a bag of card debt bills, red-faced and wondering what happened.
You see, this financially embarrassing situation you find yourself in was planned many years ago by the other man in the White House. Just use the search term "Frontline-- the credit card game" and watch this news special which shows the model that set the standard for other banking institutions to lure most of the population into a never ending debt trap.
Don't feel bad because even Uncle Sam has been seduced by the banking industry and he like one in every six cardholders has a firm grip on his pants from nearly losing them in the recent financial meltdown. The blackmail bailout for those too big to fail kicked off a big party with big-shot banking executives being handed millions in bonuses for their shenanigans. Remember?
Here you stand holding up your financial pants with one hand with a big bag of card debt in the other and you can hear little voices coming out of the bag saying "pay me the 30% interest rate you owe me now" which is quite probably the reason you feel like one of the Three Stooges left holding the bag while the other two became banking executives.
Look at the bright side of your situation. Yes there is a bright side because some people have already lost their pants in bankruptcy and their financial life is pretty well ruined for the next 10 years! Now you on the other hand are one of the lucky ones. You, by sheer luck have stumbled upon a way to put that embarrassing bag of 30% card debt into the nearest trash receptacle and are about to be schooled on the most technologically advanced method of removing debt germs from your life forever.
The most common of these parasitic germs is called a debt collector and he's the only thing standing between you and financial freedom. Now we all know the banks send a few letters saying you've overlooked your card payment and if you don't send it in quickly they will ruin your credit. You don't pay for six months and your account is written off, gone forever except they sell your old information to this collector dude.
Actually it's a bit embarrassing for me to even tell you about this collector annihilating weapon that was invented back when Pres. Lyndon B. Johnson was desperately looking for a way to win the Vietnam War. There were no collectors to annihilate and the only charge cards belong to Diners Club members who had no trouble paying.
This ultimate weapon was mothballed for over 40 years then recycled and turned into a cartoon show which you can watch by using the search term "FTC debt video." At first it might seem a little weak to you but if you watch a couple of times you'll realize the power of this nuclear bomb has been turned into enough card removal power to keep every household in the US debt free for many years to come.
Some people have accidentally used this old FTC information to get rich quick at the expense of dumb collectors. You can see real proof by using the search term "man wins 1.5 million in debt collector lawsuit" and then think of the possibilities a little digital recorder could make in your life.
Just about all of us can write a "demand for proof of debt" letter and send it by registered mail with return receipt as required by the old law. That letter essentially starts the clock ticking and when the collector is unable to show legal proof, the Big Bang makes Stardust a once unholy debt germ.
And so it comes to pass that you will never pay high interest credit card debt rates again because you have not only reduced your rate to zero but have managed to do what you thought to be impossible and zeroed out your card debt as well. Congratulations and wipe that smile off your face because you've got to explain to your significant other that you were able to keep your pants up during the biggest financial seduction in the history of the world. Live life and have fun!
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