Thursday, March 28, 2013

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.

Please consider viewing and then signing the Debt Neutrality Petition by clicking here.

Wednesday, March 13, 2013

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.


Please consider viewing and then signing the Debt Neutrality Petition by clicking here.