I just read the comments by fellow..Nv. Great comments! In 25 years I have never been late on one bill and grew up believing you should cherish your credit score. We opened up our own business 7 years ago and I was able to quit my job to be home full time with my kids. Our business is in construction and in the last year the "bottom" has fallen out. I've been searching for a full time job but to no avail.Many contracts have been cancelled on us...we are scaping by and paid a partial payment to American Express and without notice they cancelled our business line. The next month we were late 12 days and the payment went over to a collection agency/Law Firm that has been threatnening to garnish our wages,place a lien on our home,make our life a living hell.he has been calling everyday,every night. The collector even told me to cash out Mutual funds or educational funds because this could get ugly! Shame on you A.E
P.Harrison
of CA
@
Jul 15, 2009 13:18:53 PM
Be Careful!
Look, there is no such thing as debtors' prison in the United States. If you cant pay a bill, there is absolutely NOTHING that can happen to you. Of course there will be threats by collection agencies but remember, as long as you have homesteaded your house (about 15 bucks at your local county recorders' office) no one can touch your equity, if any, in your home. As for wage garnishment, believe me, with the HUGE amount of people not paying their bills now, the amount of money, time, and effort required to obtain any judgements make all collection efforts not worth it. Regardless of how much you owe. And if you are out of work or change jobs, all judgements are null and void. Regardless of whatever the collection agencies may try to scare you with, always call their bluff and tell them...NO! And dont let them fool you when they try to work out some deal telling you that if you pay them any reduced amount of the total debt, your credit report will somehow have a higher rating upon reciept of the payment. The truth of the matter is this... once a debt is reported to the reporting companies, it will be there for 7 years. Period. So dont settle any debts. You need that money to survive. No previously reported debts will ever be revised or removed. Peiod! Right now cash is king and cash is much more important than worrying about having good credit.
A fellow survivor
of NV
@
Dec 26, 2008 13:12:20 PM
Help (some, anyway) is on the way, Ray. I believe the Obama administration intends to revive consumer protection enforcement.
of
@
Dec 18, 2008 14:25:59 PM
Real Estate John Beck
Please do not listen to this. His systems are nothing but worthless papers and scams
Adam Martinez
of UT
@
Dec 18, 2008 13:14:59 PM
Thank You!
Maryann Cook
of UT
@
Dec 03, 2008 21:34:56 PM
Thank You!
of
@
Dec 03, 2008 21:33:41 PM
Beware Payment Scams!!!
The age old "no payments till 20??", "we tote the note" financing and worse yet, advertising without revealing everything we need to know or any small print flashing across a TV screen which is impossible to read. Many folks fail to understand that "no payments till 20??" mean interest accrues till 20?? when mega payments are due. The "we tote the note" financing is always a no-no with the worse I've seen as the little old guy selling Oreck vacuumns with the very small print of an 19% - 28% interest rate on a never revealed total price nor financing term length, in short, buying a pig in a poke!!! The bottom feeders are competing with drug companies for top billing as most deceptive advertising and the whole world is the stage. Our illustrious current administration has essentually stopped enforcing our Fair Trade rules since 2001 with complaints backlogged for everything from food & medicine to Ridex home pest control with late night TV declaring open season on the insomniacs!!! Instead of having morons like O'Reilly on the boob tube America needs a reality show called "O'Really???" exposing the bullstuffers hawking these worthless ripoff scams and products.
P.Harrison of CA @ Jul 15, 2009 13:18:53 PM
A fellow survivor of NV @ Dec 26, 2008 13:12:20 PM
of @ Dec 18, 2008 14:25:59 PM
Adam Martinez of UT @ Dec 18, 2008 13:14:59 PM
Maryann Cook of UT @ Dec 03, 2008 21:34:56 PM
of @ Dec 03, 2008 21:33:41 PM
Ray Fisher of NM @ Nov 23, 2008 11:13:22 AM
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