Hidden penalties, sudden interest rate hikes, and deceptive language are just a few of the questionable tactics used by credit card companies to extract money from increasingly stressed consumers. Now, some on Capitol Hill are trying to regulate the more abusive practices. With bills actually moving through both houses of Congress, the credit card lobby is finding itself on the defensive, and turning out in force to oppose the legislation.
My hero, Dave Ramsey, tells of abusive practices and the violation of Federal law incorporated by debt collectors – particularly credit card debt collectors. Most people do not know that they have rights guaranteed to them by the Fair Debt Collection Practices Act (FDCPA) and debt collectors knowingly and habitually break these laws in order to frighten them into paying. IT IS NOT AGAINST THE LAW TO OWE MONEY! Do not allow yourself to be lied to (example: “You’re going to go to jail if you don’t pay this” is one of their favorites!) or treated without the dignity you deserve. KNOW YOUR RIGHTS UNDER THE FDCPA: Collectors can NOT call you before 8 am or after 9 pm Collectors can NOT threaten to have you arrested or charged with a crime if you dont pay Collectors can NOT continue to call after you have indicated you want them to stop (record your conversation with them, tell them you ARE recording it, write the date and time down in a journal, and follow up with a certified letter stating they may no longer call.) Collectors can NOT call friends, family members or colleagues repeatedly in order to get you to pay (they may call your acquaintances ONCE in order to track you down and may NOT mention that you owe money or give ANY information that would lead someone to believe that they are attempting to collect a debt.) For more information on your rights under the FDCPA, please visit my website at www.myarrp.com (click on the “Help With Credit” link at the top.) To the scum …
Slasher film spoof – inspired by radio host Dave Ramsey’s approach to debt reduction. A man has nightmares about high credit card debt, wakes up and proceeds to do unpeakable things to his credit cards
debtrelief911.com – Get Rid of Credit Card Debt Now! Learn How to Eliminate Your Credit Card Debts in 90 Days Without Debt Consolidation or Bankruptcy!
www.theinvestorwatch.com The announcement of changes to the law of what he credit card company can do to your credit card bill by the Obama’s office, do you really know how does it affect you and what are the changes you can do?
Options for people in debt