Category Archives: Credit Card Companies

Stop Junk Debt Buyers

Millions of people have been hard hit by the recession. People who once had high paying jobs are now out of work and are facing foreclosure on their homes and being sued by Junk Debt Buyers.
There are reports all over the Internet about people who has committed suicide due to their homes being foreclosed on and Junk Debt Buyers suing and taking everything a family has.

If you are not familiar with junk debt buyers or jdb’s, they buy debts (which a debtor for what ever reason stopped making payments) for pennies on the dollar from an original lender who wrote off the debt as a loss and tax deduction. the junk debt buyers then can go after the debtor for the full amount of the debt including interest, late fees, penalties, etc due to loopholes in the laws.

If the debtor doesn’t pay, the jdb can sue the debtor for the full amount. if they win, they can then garnish the debtors wages, bank account and take any assets they want including the debtor’s vehicle. they can even get a court order to go into the debtor’s home and take all of their belonging.

Jdb’s don’t care why someone was not able to make the payment, be it job loss, sickness, the economy or what ever. They have no concern if taking someone’s vehicle makes it impossible to go to work. They don’t care if taking all of the money in someone’s bank account causes the family’s utilities to get shut off or if it causes a family to lose their house and become homeless… They just want the money and will do what ever it takes to get it.

DESPERATE TIMES CALL FOR DESPERATE MEASURES…

If your money is so tight that it’s between paying your utilities, putting food on the table and keeping a roof over your head or paying a credit card bill, stop paying your credit cards and unsecured loans.

HOW TO BEAT JUNK DEBT BUYERS AND NOT PAY THEM 1 CENT

There are millions of defaulted loans and credit card accounts due to the economy. Bill collectors and Junk Debt Collectors can’t collect them all. They will go after accounts, which they can either call on the phone or contact by mail and get a response.

The key is… DO NOT RESPOND

Why? If you respond, they just verified that they can reach you at the address they have on file. If you don’t respond then they know less about you… your less “real” to them, not reachable and more likely to be a pain in the ass to collect from.

HOW TO BECOME UNREACHABLE

1. Disconnect your phone as soon as you are a few months behind payments and do not forward the phone number. That way when a bill collector calls they get a disconnected message.

Get a prepaid phone like T-moble offers with 1000 minutes for $100. These are anonymous since there’s no billing records. Bill collectors can’t get your number.

Get a SKYPE account and use your computer with a headset to make unlimited outgoing calls for only $7.95 a month. The best part about SKYPE is your calls are anonymous. When you call someone who has caller ID, they see a general outbound SKYPE phone number, which they can’t use to call you back. If they do call the number back all they’ll get a recording “you have reached skype” and they get disconnected.

2. Carefully screen all incoming mail. Look up the return address on the internet before opening any suspect mail. Any which you know is from the finance company or which you don’t recognize, make a label on your computer which says

RETURN TO SENDER

You could also have a professional stamp made which looks similar to the type the post office uses which says “Return to Sender” and has a hand and finger pointing back to the sender. You can get these on ebay for $5.00 – $10.00. These look very official and are likely to convince a bill collector that you are no longer at the address they have on file.

Scratch out your address completely with a pen or black marker, then stamp the envelope “Return to Sender”.

When you finish fixing up the envelope, put it in a public mail box (not your own).

Since there are so many defaulted loan and credit card accounts, bill collectors and Junk Debt Buyers will go after poor suckers, which they get a response from and the debtor agrees to make payments. Those which they cannot reach are more likely to go into a “dead” file. They don’t have time to track down every single defaulted loan and credit card account owner.

Remember that Junk Debt Buying is a business and they want to make the most money with the least problems. They are not likely to pursue someone who they can’t reach by phone or get un-opened, “no such person” returned mail from, when they have so many other accounts they can call on the phone or send a demand for payment and get a response.

IF THEY SUE HERE’S WHAT YOU CAN DO…

You should consult with a bankruptcy attorney IMMEDIATELY. Bankruptcy can stop all collection activity and stop their lawsuit.
After consulting with a Bankruptcy attorney you or your attorney could call the law firm which is suing you and tell them you can give them xxx amount ( a fraction of what they are asking ) to make them go away. Tell him if he doesn’t take your offer you will declare Bankruptcy and they will get nothing.

You should also tell him about the hardship which caused you to stop making payments and if they don’t drop the lawsuit, you will contact your congressmen and news media about the additional hardship he, his law firm and his client is causing.

If you prefer not to declare Bankruptcy, here’s some things you can do to make it difficult for who ever is suing you.

If you can’t afford an attorney, tell the judge you can’t afford an attorney. Tell him it’s unfair for the Finance company or JDC to have legal representation and you to have none. The justice system is SUPPOSED to be fair and balanced. Our entire legal system is built upon this premise

Equal justice under law – Wikipedia

The architectural firm that proposed the phrase was headed by Cass Gilbert, though Gilbert himself was much more interested in design and arrangement, than in meaning. Thus, according to David Lynn who at that time held the position of Architect of the Capitol, the two people at Gilbert’s firm who were responsible for the slogan “equal justice under law” were Gilbert’s son (Cass Gilbert, Jr.)

I don’t know if this argument has been used successfully but it’s worth a try because there’s truth and logic in it. I have used tactics which my attorneys said would not work, but the judges agreed with my argument and my attorneys were astonished.

Respond to the lawsuit by telling them you want a “debt validation”. You can find debt validation documents by searching for them on the internet. Debt validations require the company trying to collect a debt to provide all sorts of documents which in most cases, they cannot produce.

Also, as soon as you receive notice of being sued you should clean out your checking account and close it so if they win, they can’t take any of the money you have.

Make LOTS of noise and make what their doing REAL PUBLIC and EXPOSE THEM TO THE MAX

Do research on the persons who are suing you, including the law firm, lawyers, JDB owners, etc. Look for negative things which you might use against them (patterns of abuse, lawsuits against them, criminal backgrounds, etc).

For example, type the name of the JDB and law firm in google, find complaints, make a video and document all the complaints you can find, explain your situation and how your being victimized and post it on Youtube. You can use software like Camtasia at techsmith.com/camtasia.html to record your computer screen and your voice.

Videos can get results if done properly. Check this out…

Post blogs and complaints all over at places like the RipOffReport.com, my3cents.com, complaintsboard.com, your Attorney General’s office, your state Governor, your Congressmen, the Better Business Bureau, etc. Mention other complaints you find in your articles, videos and complaints to the News media to help collaborate your complaint.

Contact your local news stations, newspapers and talk radio stations (AM stations). Tell them what caused your financial situation, how your being harassed and sued by a JDB and the hardship it’s causing you and your family. The negative publicity might make them drop the lawsuit and leave you alone.

DO NOT post or state anything false about anyone or you can be sued for slander. Stick to the facts.

If everyone who is harassed by JDB’s did this and exposed them it might help get laws changed and put them out of business.

DON’T FEEL GUILTY

Watch the documentary movie “Inside Job”. It proves that Banks and Financial Institutions are responsible for causing the recession, lost wages and lost jobs. Here’s a small video clip from the movie.

If you have credit card debt or a mortgage you can’t pay due to a lost job or the Recession, it’s the Banks and Financial Institutions Fault.

Banks has been screwing customers for a long time with high interest on credit cards, high over draft fees and other BS. Just a few years ago they received BILLIONS in taxpayer dollars in bailouts and executives gave themselves pay raises, bonuses and other BS.

Since banks and financial institutions received Billions in Bailouts from us taxpayers, I feel they have already been paid and are DUE NOTHING. I totally support the “Occupy Wall Street” movement.

TO HE*LL WITH BANKS, BILL COLLECTORS AND JUNK DEBT BUYERS.

As the law now stands, a JBD can buy a debt worth $50,000 for $1,000 then demand the full $50,000 from the debtor.

It is wrong that they can buy a debt which the original creditor wrote off, for pennies on the dollar, then expect to be paid the full amount of the debt including interest, late fees, penalties, etc.

This is highway robbery and these jbd’s are getting rich off of the misfortune of those already stretched to the breaking point due to the recession and bad economy. Laws need to be passed asap to put a stop to these jbd’s “shake down” operations.
If an original creditor wrote off a debt / loan, that should be the end of it and no jdb should be allowed to pursue a debtor for a debt / loan which was written off.

As everyone knows, the banks and financial institutions received billions in tax payer bailouts, while people hard hit by the rescission (which was caused by banks) received nothing. These high paid wall street sob’s, bankers and rich bastards gave themselves pay raises, bonuses, bought jets and have lived high off the hog at the expense of people struggling to pay their bills.

Remember, 1% of the population controls most of the wealth and have been calling the shots for a long time. They are the ones who got us in this mess.

People are committing suicide over these JBD’s suing and taking every thing they have. Legislation needs to be passed to stop junk debt buyers.

Please sign this petition to pass legislation to put junk debt buyers out of business.

Sign the Petition

Millions of people have been hard hit by the recession. People who once had high paying jobs are now out of work and are facing foreclosure on their homes and being sued by Junk Debt Buyers.

Republicans are the Banks and Corporations biggest allies. They are bought and paid for by Corporations, Banks and the Rich. They don’t care about the poor and in states they control, they have actually increased taxes on the poor while decreasing taxes on the rich. Watch CNBC from 8PM – 10PM weekdays and find out the truth about Republicans. Mitt Romney said it himself… “I’m not concerned about the poor”.

The best chance we have to get Junk Debt Buyer laws changed is to vote for DEMOCRATS.

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Legal disclaimer: I’m not an attorney and this is not legal advice. If you follow any instructions on this page you do so at your own risk. Do not rely upon any information in this article without independent verification