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How can we free our ppl that have had to max out their credit cards for food and gas and have been terrorized with 25 to 30% iterest rates,
What if every one with a credit card all in the same month just stopped paying them?
They hold no security so what other than ruining their credit rating could be done to them?
Everyone stop paying?
The Big 3?
Bank of America
JP Morgan/Chase
Citi
Finish them off?
From what I read they sell it to another bank and they take on the loans so we will still have to pay unless they all fall idk like how they sell mortgages idk fook them all
Well then if they sell them, doesn't that make them a 3rd party collector?
Not sure how that works. I would suppose there is a clause in the mtg contract allowing them to sell it.
I would not suggest it on mtgs at this point because they will repo your home and sell it.
With credit cards they hold no security, so my question would be how can they collect their money if you dont pay them.
Like can they get a judgement? If so can it even be enforced?
I had a judgement thr court on a renter and because he was self employed, I had no mechanism to collect since I could not garnishy the wages of a self employed person for instance.
Even if he had assests, that only served me to put liens on them IF he sold them and even then a mechanics lien is last on the list of liens to be able to actually collect below the Fed, State, and local govt, and mtg holders collections for liens.
Just looking into it.
