Well Said.

You have no clue how sub prime lending works.

As time goes by, I want people to keep me updated on this.
Let me know how you did.

I fucked Oden in the ass.

This is no big secret really

you can do the same thing with your taxes - file them but don't send them all that you owe them. the government settles too. the radio is filled with ads of these companies that rep you in making deals with the taxman.

The FEDs just announced yesterday they are adding a 100 Billion Dollar buy out of bad credit card debt !

The Banks are also asking the feds to let them write off or settle credit card debt without having to take the hit on their assets. What they want to do is become the debt collector so they can settle on the debt instead of selling it for 1 cent to the dollar. This way a customer will pay $20 per month on $15,000 owed for several years
resulting in them not having to write it off then when things get better they will raise the payments back up to $200 - $300. If someone is totally broke and can't pay then they want to be able to write it off (but not as a bad loan) so their assets don't get written down.

Fuck that. I do not appove of this one. Fucking with the IRS is not something you want to do. They really have the power to fuck you hard. Send you on your ass with nothing.

Two people to always fear and not fuck with.. God and the IRS..

Dont play games with em. Stick with the Credit Cards.

Intresting. So what is the play here for the consumer?
Make 20$ payments? Or try to get the pennies on the dollar settlement?

please, do explain your intimate knowledge of economic practices or shut the fuck up

Lets bump this up for the weekend kids.

Search Google. To sit here and type out in laymens terms so someone such as yourself with your great "knowledge" of how lending works, after reading your post it would take 5 pages to explain. Or your can send me $500, you know, like my clients do and I'll explain it to you. (2 hour max) Im thinking you still wouldnt get it.

What do you think about my tip?

Im thinking that if you can make a deal with them to pay only 50 bucks a month for a few years and not ruin your credit and get a low rate that may be better.

That is if that's what they are really doing right now?

years ago my ex gf ran up my credit card to buy horse riding stuff. I honestly had no idea because she activated the card by calling in. it was an HSBC card that came with a best buy credit card. Anyway, it wasnt until months later I finally answered the phone and they were willing to settle for 20% of what was owed. Long story short, I got the money from my ex and paid off the debt but it remained on my credit history for 7 years 90+ days late but just recently dropped off.

my friend called me this week and told me some fucked up news with his BofA credit card. His credit limit and credit used was about 90% and called the bank and said "I lost my job and I want to work a deal" but they declined. He even wrote a letter and got a response back saying they already offered him 12 months no interest. Anyway, that was months ago but he told me that he got a letter in the mail saying that BofA has CLOSED his account. When he called they would not give him a reason why, but he told me hes going to see if they will work a deal if he is a month or two late.

thats pretty fucked up imo, but I guess they can flag people who look like a threat that are not going to pay their bill so they limit their spending

OMG the infamous Anal Hobbit is back! I'm not taking anything you say seriously but I bet you'd be a most talented con man. That's what you are, right? I bet you're a con man. Youve conned people out of millions and you are proud of it. Get back in the anus!

Its basically Boston Tea Party 2, instead of dumping tea, people are dumping debt.

Intresting..

Lets here more Credit Card Stories.

My cousin told me he did something like this a few weeks ago and paid literally pennies on the dollar for a huge debt amount. He also said he made them put in writing that it was paid in full and nothing negative was on his report AND that any previous reporting for the 30 and 60 day was not correct. He wanted this so he could have them removed.

Brilliant.

I agree with Hobbit... fuck em if you can. They have been fucking us for years.

well this is quite true, this really works BUT i'm not sure how its gonna affect ur credit. lets just say i've know some people who actually got away with this. But I don't know how it affected their credit, if anything. So thread with caution

Hahahahahhaa. Great post.

Where were you 2 years ago man?

Anyone know what happens to credit card debt if you don't pay it and bank or collection agency just can't get hold of you?

It goes away after 7 years.

If they don't sue and secure a judgement against you

cool tip !!!

Don't forget that the government will consider your discount to be income.. After the card company bloats the debt all to hell and then settles for "pennies on the dollar" you might just owe some money to uncle fuckko..
And from what I've heard the god damned irs charges 10% for "offers" these days.. supposedly if you offer the assholes $10,000 you put down $1000 as a deposit. If they decline the offer, they keep the $1000.

Not sure if it is true but I do know that the first part is fact.

If you are looking for a deletion agreement have it in WRITING and SIGNED.
Make sure that it guarantees that they'll delete EVERYTHING right down to the 30,60 and ninety.

This is insane....

I love the anal hobbit posts.

It's all true too. When I failed my first biz at 21 years old I had a mountain of CC and bank debt. The collections agents harassed me for months. Then a friend told me to offer them pennies on the dollar to settle and wipe the slate clean on my credit score.

I settled about $40k in debt for $4300 and got a mortgage 5 months later.

Now my credit is good and I wouldn't consider this move unless I was in financial trouble.

Great!
Chinese will be happy. I am sure every Chinese family would like to get more than 1 child.

YOU the US citizen can make this dream possible!

People's Republic United States of China let it go ... make them happy!

keep irony if found

sounds good!
whats the highest/lowest people have gotten so far?

I got like 4 replies down and was satisfied that this was advice that I can use...
Thank you Anal Hobbit....

these days we need those tips!

It works to this day!

This thread deserved a bump :pimp

Even tho this is an amazing tip i hold anal hobbit responsible for the world crisis.Atleast part of it :))

And also bumping this so we can go further down ...

Great stuff. Wonder what he has planned for Obamacare and Amnesty.

Russian style!

Dude this is GFY. The home of internet spammers, scammers & creative genious perverted minds. They don't need petty advice on Credit Card debt repayment scam. They can teach you higher level shit!