Credit Card Hell
By Ian Chowdhury
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Tips And How To's About Facing Credit Card Debt, Consumer Law For When You Are Dealing With Debt or Sued On Credit Card Debt, And Philosophical Notions About Debt As A Tool To Oppress The Masses
||CleanCCH0003 How To Change The Outcome Of A Collection Case With Your Feelings||It sounds Pollyanna to say that attitude is everything, but I am not talking rainbows and cotton candy here, I am talking about cold hard legal outcomes that can go one way or the other depending your attitude. Often you can trace the outcome of a case to the attitude of the consumer who is hit [...]||9/13/2015||Free||View in iTunes|
||CleanCCH0002 How To Be Productive When Stressed Out By Debt||We have all been in that terrible place where our set of problems becomes so overwhelming we cannot think about anything else. Before we know it, we have 10 more problems because we are so stressed out we let everything else drop. Fortunately, it is a simple issue to fix.||9/12/2015||Free||View in iTunes|
||CleanCCH0001 Here is Why You Are Not Actually In Debt||Ask yourself this question: Were you really borrowing that money for which you are now being sued, or did you have just as much right to it as the credit card company in the first place? Your first reaction might be, of course I was borrowing it, the money belonged to bank, and I used it. But...||9/11/2015||Free||View in iTunes|
An eye-opening look at financial constructs...
Ask around. Discover how many of your friends and neighbors have been compelled to default on a loan — specifically a consumer credit card loan. Perhaps one or two of them were blowing money on clothing, jewelry, and fancy toys that they couldn’t afford, and are then flabbergasted when the creditor asks for the money to be paid back. But I’m willing to bet that most simply fell into a situation of unemployment, medical disability, or some other financial hardship that halted or slowed their income to a point where they had no choice but to default. Is the creditor understanding? Do they offer to work with you to get through this difficult time? No. They hound you with daily calls, certain you’re hiding something from them, trying to guilt you into paying money you simply don’t have. High-interest rate clauses and penalties kick in, and the debt begins to soar. Enough time goes by, and the original lender will give up. They have no legal resource to come after you, because theirs is an UNSECURED loan. So what do they do? They write it off and tax the tax break. They report your inability to pay (as they should), tarnishing your credit rating. Fair enough. But then they sell your loan for less than pennies on the dollar to a debt collection agency. And THAT company, who has offered no service in any way to you, is now entitled to sue you in court. And win a default judgment against you, if you don’t defend yourself. And with that judgment, that UNSECURED loan now becomes a debt that they can take from you outright by taking whatever money they want from your bank account, or garnishing a quarter of your wages in perpetuity until the judgment is paid. And it’s all perfectly legal! Should it be? Seems sketchy to me. I didn’t realize just HOW sketchy until attorney Ian Chowdhury pulled back the curtain and showed me just how ridiculous the process is. If you or anyone you know is being sued for an unfamiliar debt, or are wondering how it is that unsecured credit card loan enabled someone to come and drain your bank account for a sum much larger than you borrowed to begin with, I highly recommend you give ear to what Ian has to share on the topic. His podcast episodes, in short, easy-to-follow bites, are highly informative, and more than a little disturbing. Forgo the guilt. Whatever your initial culpability, there are larger forces in play. Forces that you should not feel ashamed to stand up against. Don’t believe me? Give a listen and decide for yourself.
Great: Continue Talking!
Great podcast however the concept of social justice and terms like “morality” fell out of favor with financial institutions - as well as with legislators - even before the latest recession struck.
The consumer who defaulted on his financial obligations due to unemployment or the like has a sense of morality and feels remorse. The culprits of TODAY’S deepening financial crisis have no moral standards and clearly, no ethical code of conduct to follow. With many forms of financial exploitation recently outlawed, a brand new ilk is coming on the market. Case in point, the brand new “equity and appreciation sharing” real estate loans and the incredulous, new consumer loans (some with a 100% annual interest rate!).
The consumer can’t help but wonder why such practices are legal in the aftermath of Occupy Wall Street… Who issued the permits – passed the legislation – that makes highway robbery - bound to end in consumer’s bankruptcy - legal?
Keep on talking Mr Chowdhury, perhaps with your help American consumers will unravel the mystery: why there is ZERO protection of consumer rights (before, during and after financial exploitation) and a never-ending stream of free money for corrupt financial institutions that are STILL allowed to operate with impunity?...
It’s time for ALL of us to hear what Ian Chowdhury is saying!
This info is so needed in the world today. After the 2008 “implosion” (at least for some of us) I had a neck-jerking whiplash reality check about the country and system we live in. I went to a dark place and read dark material that sometimes went to the extreme, but did it’s job of waking me up and forcing me to ask questions about a system that I simply accepted. Unfortunately everyone around me thought I was crazy (except for a few), and what I thought was revelatory information was essentially not heard..so I pretty much stopped talking about it all. I can’t tell you how, and this may sound strange, comforting it is to have a voice such as Ian’s describe some very serious issues in a way that’s very easy to understand. I have never heard the info here put in such a way that directly affects and helps us in so many ways, even offering insight on how we think about debt in general, and then how to cope with it. It is enlightening to me and I am an avid student! I encourage anyone who is going through the turmoil, (and really that’s so many of us), of financial difficulty and the never-ending struggle to keep one’s head above the water, to listen to these podcasts and begin to have a healthy straightforward way of coping with what appears as endless troubles. Beyond the wonderful positive aspects this information offers for daily living, there is the broader picture of educating us all as to what is REALLY happening out there…. Not what we hear in the media, or perhaps even in schools these days, certainly not what we hear from most politicians, and generally speaking not what we have been used to believing..but what is truly happening before our eyes. The revolution will not be televised…but can be heard here!! :))
Thank you so much Ian for work….