Every month, thousands of Americans are forced to stop paying credit card debt simply because they have no money. Half a million people in the United States lose their jobs every month due to deepening depression, and this becomes the choice of food and housing or credit card payments.
If you cannot pay your credit card debt, what will you do? First, you must completely change your mindset from the “traditional economy” to the “depression era” survival mode. Once you had a big loan, paid bills on time and planned to live happily ever after.
Then a “big bad” economic depression formed, and the sky began to fall, spilling pink drops on millions of people. Uncle Sam saw what was happening, and with his infinite wisdom, he began the biggest “salvation” of banks and large corporations in world history.
Within a few months, your life has turned from a fairy tale into a full-fledged horror classic, and now you are pursued by a monster of a credit card that intends to eat you alive! Next month this scenario will be repeated, as another half a million people will become unemployed.
Good thing the credit card monster can't eat us all. Some people adapt to debt collector strategies and appear to live without debt. Who survived? You can call them "action figures," people who take action and defend themselves from collectors.
When you begin to change your mind about the situation with credit card debt, you will need to understand that the banking system was not the cause of the economic crisis. In addition, you should know that after the termination of payment by credit card debt, the bank "wrote off" your debt and went further.
After about six months of non-payment, the bank sells your “debt” to debt collection companies, and this is the “end” of the story for a credit card company. From now on, your account has never existed with the original credit card issuing company.
A debt collector has paid a few cents per dollar for information about your account, and now he will use your traditional thinking “moral obligation” to scare you, to pay him instead of the original credit card company. An original credit card manufacturer will not get a penny from a debt collector if you decide to give it money.
The debt collector took a big risk when he purchased your account. He thinks that he can scare you by paying him, and get huge profits from you. He will use all available legal means to receive money from you, and many collectors will use "illegal" tactics to extort your money.
Most people do not know that they also have an arsenal of completely legal tactics that can be used against debt collectors. As soon as you show the debt collector that you are absolutely not afraid of him, he will quickly move on to those who stick their heads in the sand, hoping that he will leave.
You can easily make the sky fall on the head of a debt collector by throwing pieces of the Fair Debt Collection Act on his head one piece at a time, and he will quickly move on to a less knowledgeable and easy extraction.
Arm yourself with knowledge and do not be a "cowardly lion." Follow the yellow brick road laid out for you in accordance with the Fair Debt Collection Act and you can successfully put an end to the nightmare of your credit card.