ANAL HOBBIT TIP OF THE YEAR: Taking Advantage of the Banks. Easy Money.
 

Hey guys. Its been a while since ive given a tip. Ive come up with perhaps my best tip yet.

It has to do with Credit Cards and Credit Card Debt. Last month after doing some 5k in Alpha Red Hosting Charge Backs (seprate issue) I came up with a master plan as an idea was created in my head. And it's 100% legal.

HUGE MONEY...
You guys are gunna love this. Its proven and Ive already made close to 40k.

Sig spot

Ok. We all know the Banks are having a huge problem with Consumer Debt. So much so it is killing our economy.

Without going into an economics lesson here to keep a long story short the Banks are in a PANIC. The inside investors who buy consumer debt (this is a big biz) have all but dried up. Leaving these banks to fend for themselves BILLIONS in unsecured consumer Credit Card Debt.

Banks like Citi, Bank Of America, Wells Fargo, Even American Express are going through HUGE losses. This is seprate from the whole sub-prime issue. This is on top of that issue which makes this an almost FATAL issue with Banks. They are in a serious NO SHITTING AROUND PANIC.

Well here's where my tip comes in. And Im not bullshiting ANYONE HERE. THIS IS 100% TRUTH...

.

Spill the beans muchacho.

Oh shit you're not spanish I forgot.

How do you say "Get that rice cooking" in Asian?

IF YOU HAVE A HUGE DEBT THIS TIP IS FOR YOU. IF YOU DON RACK UP A DEBT FAST!

**Go 90 days and dont make ANY PAYMENTS ON YOUR CARD-S.

In my case I have over 100k in credit card debt. Most of it Gambling, buying shit I couldnt afford like trips to Vegas, Clothes, Music, you name it I was a Negro with a Credit Card. Charging up shit like mad for years on shit I couldnt afford. Its the American Way. After all thats what got us into this Global Crisis.

I didnt pay one of my card's minimum payments which had 20k balance on it for 90 days.. Going into 120 days they started giving me offers. Settlements. Settlements for pennies on the dollar. Now this is nothing new. They have been doing this for years.

What is different now is the POWER we as the consumer have on them now with the latest crisis... We literally have them by the balls. After numerous counter offers I was able to talk down a settlement of $3500.00

Thats 20k to 3k... That is UNHEARD OF..

Now here's the best part and the beauty of this... I was able to negioate in writing that upon payment that NO BELMISHES OR REPORTS OF BEING LATE, SETTELING FOR LESS THE AMOUNT, OR CHARGE OFF reports go on my credit record! My credit report stays FLAWLESS.

I SHIT YOU NOT!!

Not only am I getting off for pennies on the dollar, I am making it so that NO RECORD of this or me being late will show up on any history report of my credit. My 120 days late wiped off the books. Poof....

Debt gone, bad credit gone.

Ive done this with two cards now. Talked down around 45k in debt down to 7k and NO RECORD of any issues.

This is HUGE...................

Another beauty of this is that you are dealing direct with the bank. Not a collection Agency.

It appears a lot of the Collection Agencies dont take over until after the 90-120 day mark. So its important you deal with them before it goes to collections.

But word on the street is that Collection agents are buying less becasue its harder to collect now. And those that are buying debt are doing it at a very very very low rate.

LOLZ will not even say what is wrong with it.
Good tip. :winkwink:

Have you guys wondered why on the Radio and TV now days you see and hear TONS of advertisements for Credit Card Debt Help???

These companies which are opening up by the thousands are pretty much companies opening up to do what Ive just taught you to do for free.

They are helping consumers negioate debt settlements with your creditcards. And they are the middle man taking HUGE CUTS.... HUGE.............

As the Anal Hobbit, I am giving you this tip for FREE. As a gift... Why?

Becasue I am a man of the People.
I have been helping out GFY for years now. From tips on how to get free hookers, to getting free gas, and internext passes. I have been here for you. But this tip is the greatest of all. The gift of free money.

HAHA that funny, your the 3rd person i know who did this, My buddy settled 52K for 4500

Interesting... I already talked down my interest but I should be more aggressive.

All I ask of you GFY, is that you keep this thread bumped. So the masses can learn about this tip. The tip of the year... The tip of love.

From the Anal Hobbit.

:1orglaugh :1orglaugh :1orglaugh

will this work on the BMW truck I have sitting in my driveway that I cant afford to pay for or even put gas in the tank?

The great thing is, the more people who do this the more the banks will suffer. These mother fuckers with their intrest rates and terms and fuck you up the ass tactics are finally getting a taste of there own medicine.

And Im proud to lead the Anal Hobbit Army right up there asses.

No. It wont. It will get taken back as a repo.

This works on credit card debt. As the Banks panic.

this should be funny

Thanks for the advice! Going to Charge up my credit cards.

While I sell my Citi Stock.

Remember:

1. Wait until the 90-120 day late mark before you talk to the credit card company. Until then do not talk to them. Ignore them. When they call you at 30 or even 60 days late talk to them in your most N I G G A Gangsta voice. I mean really make it good. This sets them back a bit. Only to give up. No one wants to talk to a stupid negro.

2.Tell them that the other banks you have talked to are willing to work with you. Tell them they offered you a better amount. and you only have enough to pay one bank. Create a bidding war.

3. Tell them that you need it in writing that they will wipe this off your credit record. No Charge off, no 90 days late, no settled for less the amount notes on your credit record. Tell them you want it to say "paid as agreed" and "Account closed by Customer" Simple as that. Get it in writing.

4. Tell them you lost your job. You arent working, your home is in process of foreclosure. You have some money and want to take care of this while you still can. Always talk to a manager. When they give you $$$ offers, talk them down lower. Do not make payments. Make one lump sum payment and be done.

Dude. Have you even seen the stock price on Citi??

Ticker symbol is "C"

Take a look.

you cant sell it. If you own it you are pretty much just fucked.

Look at the chart. Someone please post it.

For those of you who say this is "wrong" or not "moral" I have a tip for you...

Use your 50k AMEX card. Go to United Christian Children's Fund and donate to some starving kids in a 3rd world country.

In 120 days from now settle on it.

You will be helping the world, one village at a time... It only costs 50.00 a month to sponosr a child and give him school and food with the Christan Children's Fund. It really is a great program.

Make the Banks do the right thing and help the world rather than rape it as it has done for so many years.

Im serious. Use your cards and do good with it. Then stick it to the fucking banks... Fuck em.

You realize that if the Banks struggle, we as a people, a country a World will suffer and pay.

With this stress on the banks there will be less credit given to consumers which will kill the economy. No more home loans, no more car loans. Millions of jobs lost. GM is an example. With the auto loan market getting killed no one is buying cars. Its killing GM. The Government will bail out GM BILLIONS of Consumer Tax dollars to keep them afloat.

All this starts with the irresponsible Consumer. This whole issue started with the consumer. And it will be the Consumer that will kill this Economy single handed with acts like this.

This is a horrible post and should be locked. This information creates a very very DANGEROUS mentality.

Fuck me I just paid off my debts. This is such a good idea.

What Anal fails to mention is in the 30-120 days before / and if you do Settle - your fico / credit score is screwed the minute you are 30 days past due and they report it..

I know my ficos are important to me and this is the time to always pay for what you can in full.....

Boneprone, always good for a laugh :D

I just got rid of 12,000.00 of debt for 4500.00 in one lump payment within 15 minutes.

I gotta get my gansta voice tight before trying to negotiate again with another card I have.

another outstanding tip from anal hobbit. i remember he wasnt liked at the beggining here, cause people thought he was real.
best fake character on GFY, ever

I love you BP.

and we wonder why the economy is fucked

FALSE...........
You didnt read my post.

Thats the beauty of this tip. It takes care of that. You walk away with a flawless FICO..

Read my tip. Step by step CAREFULLY. It does not reflect your FICO. Becasue it is part of the deal you work with them. Dont agree to settle until this part is CLEAR and in Writing. That they do not report and you stay clean.

You don't know anything about credit reports then.... 99.9% of all credit card companies / lenders report after 1 30 day late...

So true, if you stretch it out to 90/120 days they often will settle for less but the damage has been done right then and your other creditors have seen this already as they do AR's / account reviews every month.... now if your not worried about your other cards / lenders of unsecured debt then np, as if you get a pay for delete in writing and settle - then the baddie account is gone.... But if you keep other cards / loc's / lines they will be affected.

Remember. When you negioate with them, you are not just working out a bottom line $$$ dollar amount settlement. You are also working out and will only agree to pay if they wipe the credit score / fico clean. As if this never happened.

Get it in writing. They have this power. Tell them you want the status to say "Payed as Agreed" "Customer closed account"

Do not let them put in your record "settled for less" or "charge off" these will reflect poorly on your credit report.

Remember this tip is not just to get out of debt for less, but to get out and keep your credit clean like it never happened. Like a thief in the night.

Id have it no other way.

No No No.. Not true. The credit reports report what the bank reports to them. Simple as that. The moment you pay and make the deal with them they will report on there end that it was paid in full and closed.

If it remains on your report it simply means they didnt update it. Simply use the dispute from in the credit report and the credit reporting agency will look into it. If in the event The card comany will not reply back in 30 days it will in turn erase it from your record.

This is fact.

You need to learn a fact or 2.. yes if you pay for delete it will come off but if it takes 90/120 days to make this deal with them - pay debt, erase baddie, etc you are fogetting then after 30 days they will have reported a late already on your reports and your other lenders would have seen this through AR and taken adverse action..... I have been writing a book on credit, etc I know exactly what I am talking about..

Sex Toy King,

Anal Hobbit is right. I remember when I was in College I settled on a card. The card company has the ability to report what ever they like. Even if you dont get them to agree to start reporting the paid off debt in good light, the majority of the time a few months after you settle you protest or have the credit reporting agency look into the issue the credit card company does not report back.

They consider the issue done and really dont want to get back into it with you. As a result the Credit reporting agency drops it. The Credit Card Comany has 30 days to write back and verify the reporting. If they dont its dropped. Most comanies once you pay them arent going to report back. Especially if you have it in writing that they agreed to report you as "paid as agreed" and "not report you late"

One real issue with this however is that you still will have to pay. In the form of taxes! The forgiven debt is considered income. So if they waived 20k debt, you have to pay the tax on it to the IRS..

And trust me the IRS isnt going to roll over and let you fuck them.

You're wrong BP, the blemishes from being 30 and 60 days late will still be there by the time you settle and they won't get erased. Another anal hobbit tip down the drain, sounds like boneprone did this with all his racked up gambling debt.

I don't care about the banks.. I just want my damn gas cap back that the Hobbit stole from me. You do remember the other tip of the year on how to get cheap gas..

A book? Can you put this tip in your book?
Or will your book only have boring unuseful info in it?

The people want tips. Not something to make them sleep.

BP,

nice switch game :)

I am not disputing the fact that you can settle up and get a pay for delete, what I am saying is if you don't fuck / screw all your credit card lenders - the ones you keep good are going to see the first, 2nd and 3rd 30/60/90 day debt before you have the bad account deleted and take adverse action, that's how it works.. Your scores have tanked, etc until the delete.

Yes, most forgiven debt is turned into a 1099 issued to you and sent to the irs.... Not all but most...

good luck in the west hills.