The ugly reality of lowering debt by default

The ugly reality is that debt is not lowered by Default, it is just hidden. Please sign the Debt Neutrality Petition.

The ugly reality of lowering debt by default

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Debt Neutrality Petition Signers, please leave your Comments or Observations in the Comment Section of this Topic.

Dear Debt Neutrality Petition Signer, this is your opportunity to leave a response to the occasional email you receive regarding Debt Neutrality Petition News in the comments section. Or if you have a suggestion, leave it in the comment section as well.

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Amazing News, Debt Neutrality Petition now has over 500 signatures on Change dot org.

Thank you to those who promoted Debt Neutrality on Change dot org. It is truly humbling to have an idea that others see the value in.

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Dee Lee Of WBZ NewsRadio 1030′s Money Matters Discusses Credit Debt « CBS Boston

Dee Lee Of WBZ NewsRadio 1030′s Money Matters Discusses Credit Debt « CBS Boston  What a horribly arrogant and misguided article Dee Lee has written on Money Matters.

Dee Lee focuses on how consumers treat credit as a privilege, even a constitutional right. 

What Dee Lee does not do is point out that Debt Suspension should also be a consumer right in times of a legitimate crisis.

Dee Lee does not focus on how a debt instrument, aka a promissory note, should also be a consumer right in times of a financial crisis that may not be directly the fault of the consumer in question, and that is apparently not a consumer right either. 

Shame on Dee Lee for being so one sided.

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NY Fed Misdirection, Reports..."U.S. consumer debt rises in fourth quarter: NY Fed - BNN News" as if it were a good thing.

Contrary to the New York Fed celebration as U.S. consumer debt rises in fourth quarter: NY Fed - BNN News, rising consumer debt is actually a bad thing.

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IPS – U.S.: Occupy Affiliate Aims at Abolishing Consumer Debt | Inter Press Service

IPS – U.S.: Occupy Affiliate Aims at Abolishing Consumer Debt | Inter Press Service

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In the U.S., there apparently is a Debt Collectors Code of Conduct, in Britain, debt collectors can force the sale of a home for as little as a 1,000 pound debt.

In the U.S. we apparently now have the debt collectors Code of Conduct, in England, the government appears to be licking the boots of the debt collectors, actually allowing debt collectors to force the sale of a home to collect on debt of as little as 1,000 pounds or more.

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A Code of Conduct for the Debt Collection Industry, are you kidding me!

If this Debt Collection Code of Conduct goes through, it will revolutionize Debt Collection, and in an incredibly good way.  I'm going to clip the key comments of the Code of Conduct just in case the link ever goes bad...Below are five main points the article brings up, but definitely check out the link as they make other great points as well...

1.  To never attempt any collection effort on any credit card debt that is beyond the statute of limitation. 2.  To never file a lawsuit for collection of credit card debt. 3.  To never charge interest on a credit card debt that was charged-off by the original issuer. 4.  To never attempt to contact the consumer regarding credit card debt by telephone more than two times in any one 24-hour period. 5.  To never resell credit card accounts to anyone who has not signed the Code of Conduct Pledge.

I am STUNNED that there is a Debt Collectors Code of Conduct.  Alhough The Debt Collectors Code of Conduct is five years too late, it is still fantastically better than not doing it all.

And don't forget the clown idiot of our times, Darryl Issa, who rabidly OPPOSES The Consumer Protection Financial Bureau.

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Household debt falls to record low in 4Q...Or did it?

Household debt falls to record low in 4Q

This is the typical, desperate news propaganda story that cries out, Yeah, soon we can kick the can down the proverbial road, AGAIN!

The comical part is that if you keep reading the article, the "fine print" gets revealed near the end. Lowered Credit Lines is one of the reasons that debt versus household income ratios are improving. 

The REALITY IS, the economy needs to string about 20 of these quarters in a row before real improvement occurs, and that CAN NEVER happen because as soon as even a modicum of good news gets reported, it is LEVERAGED to way beyond the true value the good news could ever muster.

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AP reports on Consumer Debt as if more of it is a good thing.

How can the U.S. and the world's economy ever recover if the media forces that be continue to report that an increase in consumer debt is a good thing?

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Consumer Credit Card Debt Being Under Reported by 20% to 30%? OUCH!

The number put on U.S. credit card "zombie debt" in 2013 is between 150 billion and 175 billion dollars. 

However, this number may not include credit card debt that has gone to the courts and a judgement has been procured by the credit card companies. I would suggest that we could safely guess another 100 billion dollars in court ordered credit card payments as well.

That means as much, or perhaps more than 250 billion dollars of credit card debt IS NOT being reported whenever consumer debt reports come out. 

OUCH!

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Even the Peace Corps like increasing Consumer Debt, gasp.

I kind of find it amazing that the Peace Corps would be in favor of more consumer debt. Their rationale is that it means more jobs which in turn fuels consumers "confidence" in borrowing more. This what is called an unending ponzie scheme that fails to take into account increased pressure on the world's precious resources, a necessary schism for economic growth to occur.

This in turn just leads to more wars and more debt and more consumer interest charges on that debt, which eventually leads to loss of consumer wealth and the transfer of that wealth to the banks, the government, and wall street.

Look for Canada to fall hard in the next year or two from mounting consumer debt caused from a bubble of increasing home values.

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