November 3, 2005
Proof that Banks want you in Debt...Forever
We all know that there is now a new bankruptcy law that makes using bankruptcy to relieve your debt burden almost impossible and extremely more expensive, but now the individual states are passing laws that garuantee that you stay in debt forever...to the financial gain of the banks.
Since the new bankruptcy law has gone into effect there as been a slew of state measures that prevent people using anything but attorneys or consumer credit counseling to get out of debt. Currently ten states have approved of this new law.
Credit Counseling can be good for certain people to get out of debt under certain circumstances, but it is not for everybody. So where can they go to get out of debt? Usually where people went to get themselves out of debt were debt settlement companies, then to bankruptcy. Well...bankruptcy is out. And debt settlement is going the way of the dinosaur as well because of these new laws. That leaves only Credit Counseling, or an attorney that will charge hefty fees by the hour.
So who wins?
The banks do of course, and the politicians that approved the measures that were paid off (lobbied) by the banks to approve thelaw. Or they (the politicians)are so heavily invested in the companies themselves to make it financially rewarding to themselves..
The 10 States...
So...many of you are wondering which states have approved of these new laws. Well if you live in any of these states then you can garuantee debt slavery for a very long time. They are: Utah, Kansas,North Carolina, New York, Texas, Wisconsin, New Jersey, Georgia,Michigan, and either Mississippi or Missouri.
If you live in either of these states, you financial future isdoomed, and resign yourself to staying in debt for a very long timeand paying out more than you should in interest and other fees.
Thank you congress!!!!!
What can you do?
Good question.
Well laws can be changed or cancelled.
Predominately Democrats view these types of laws in a bad light. So you can vote into seat more Democrats. But if you can't wait that long, then write to your congressman or woman, and other state legislators and tell them what you think of this new guideline.
Complain until your face turns blue. If you belong to any professional groups use their clout to boycott or picket those that voted in the laws.
Get as much negative publicity for that cause as you can. Scream it from the rooftops. Just you don’t resign yourself to silent refusal which doesn't do any good at all.
Hope that helps. Maybe even angers you a bit so that you dosomething. Best to you and your future.
Jae Burnham
www.sponduliqs.blogspot.com
Since the new bankruptcy law has gone into effect there as been a slew of state measures that prevent people using anything but attorneys or consumer credit counseling to get out of debt. Currently ten states have approved of this new law.
Credit Counseling can be good for certain people to get out of debt under certain circumstances, but it is not for everybody. So where can they go to get out of debt? Usually where people went to get themselves out of debt were debt settlement companies, then to bankruptcy. Well...bankruptcy is out. And debt settlement is going the way of the dinosaur as well because of these new laws. That leaves only Credit Counseling, or an attorney that will charge hefty fees by the hour.
So who wins?
The banks do of course, and the politicians that approved the measures that were paid off (lobbied) by the banks to approve thelaw. Or they (the politicians)are so heavily invested in the companies themselves to make it financially rewarding to themselves..
The 10 States...
So...many of you are wondering which states have approved of these new laws. Well if you live in any of these states then you can garuantee debt slavery for a very long time. They are: Utah, Kansas,North Carolina, New York, Texas, Wisconsin, New Jersey, Georgia,Michigan, and either Mississippi or Missouri.
If you live in either of these states, you financial future isdoomed, and resign yourself to staying in debt for a very long timeand paying out more than you should in interest and other fees.
Thank you congress!!!!!
What can you do?
Good question.
Well laws can be changed or cancelled.
Predominately Democrats view these types of laws in a bad light. So you can vote into seat more Democrats. But if you can't wait that long, then write to your congressman or woman, and other state legislators and tell them what you think of this new guideline.
Complain until your face turns blue. If you belong to any professional groups use their clout to boycott or picket those that voted in the laws.
Get as much negative publicity for that cause as you can. Scream it from the rooftops. Just you don’t resign yourself to silent refusal which doesn't do any good at all.
Hope that helps. Maybe even angers you a bit so that you dosomething. Best to you and your future.
Jae Burnham
www.sponduliqs.blogspot.com
# posted by Sponduliqs @ 9:09 AM 
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