Saturday, November 13, 2010

How To Legally Get Out Of Debt

First of all, you must realise that there is nothing dishonest or dishonourable about freeing yourself from financial slavery. It's true that you were the one who got yourself into debt, but there's no question that you were baited into it. You see examples on TV every day. Things like, "You know you want it!" or "Why wait? Get it now!", but my favourite is the one where they tell you that all the most beautiful women will go crazy for you if you buy such-and-such a product. Unfortunately, too many men fall for that one all too easily.

Method number one is good old fashioned bankruptcy. Now I'll bet some of you actually cringed when you read that word. That's exactly how the banks want you to react. They want you to feel that bankruptcy is cheating them, dishonourable, and it means you're a complete failure. Bankruptcy is NOT a dirty word. It does not mean you're a failure. It's a legal right every American has. Do you think that banks and big businesses hesitate to use bankruptcy if it will benefit them? You better believe they don't!

Bankrutcy offers people the chance to start over again. However, you must realise that if you do declare bankrutcy, you will have no credit for a time. But then again, you don't want to get sucked back in to debt again, so perhaps that's best. Also, I should point out straightaway that bankruptcy does NOT get you out of taxes, or student loans. That makes sense if you think about it. You basically owe your student loan to the government and taxes to the IRS. They're not going to tell you that you don't have to pay them, are they? That'd be crazy! They might work with you more so you can make they payments, but they're certainly not going to let you off the hook. But as to credit card debt, it'll be all gone. Personal loans too, and even car loans. Not mortgages, unless you're willing to give up your house. But they will order the banks to work with you so you can make they payments.

Many people don't know how to go about it. They think they're so far in debt that they can't afford to hire an attorney. The average fee for bankruptcy is $1000. They'll allow you to make payments, and once you make your first payment, you are no longer legally obligated to make any payments to any creditor. So if you want to keep your house, a lawyer is advisable. He'll see to it that the court orders the bank to work with you, even if it means changing the payment terms so you can make your payments.

If you don't own any real estate, it's easy. Hiring an attorney is a waste of money. I'm speaking from experience. I declared bankruptcy two years ago. My attorney did nothing for me that I couldn't have done myself. I owned a house with a mortgage, and a mobile home I owned outright. I kept the mobile home, and literally handed the house back to the bank. Such a procedure is call "Deed In Lieu Of Payment." It just means I gave the house back and they tore up the mortgage. I didn't want to keep it. It was too much trouble. Also, when it came to the hearing itself, he did nothing. The commissioner asked me several standard questions like, "How much do you earn." "How much do you owe?" "Do you own any stocks?" "Any real estate, and if so, do you want to keep it?" Very straightforward. I answered them on my own.

You don't even need an attorney to stop the creditors from calling. If your bank or a collection agency is calling you at home or work, all you have to do is send them a letter telling them to stop calling. If they don't, you can sue them for harrassment. They can still send you letters. Even a lawyer can't stop them from mailing you.

As to the paperwork, places like Office Depot and Staples sell bankruptcy kits for about $25. They contain all the forms you need, instructions on how to fill them out, and where to go to file them. Filing fees may vary from state-to-state. When I filed here in California, two years ago, the fee was $300. You can't make payments. But from the moment you file, you no longer have to pay your credit card bills, so you should be able to afford it. It's a small price to pay to get out of financial slavery. Oh, and if you have a credit card that isn't maxed out, and you'd like to have one for emergencies, you have the option of excluding one or more cards from the bankruptcy. Naturally, if you do this, you are still obligated to make the payments on that card. Just be careful. Use it for extreme emergencies only. Don't get suckered into debt again.

The next method is to simply stop making your payments. Only do this with credit cards. If you do it with your house, it will go into foreclosure, and your car will be repossessed. When your cards go to collection agencies, they will call you. Now collection agencies buy your debt from banks at pennies on the dollar. For example, if you owe $10,000, they probably bought it for $1000. You can usually get them to acept half of what you actually owe. The one trouble of this is you must pay it in one lump sum. If you can't, they must by law work with you to make the payments affordable. The banks don't. If you don't pay them on time, they can send you to collections, but collection agencies DO have to work with you by law.

Also, never forget, collection agents are not your friends, no matter how pleasant or friendly they seem. They couldn't care less about you. They've heard every sob story in the book. They are paid a percentage of what they collect from you, and that's all they care about. BTW, if they don't contact you within two years of your last payment to the bank, the statute of limitations expires and you no longer have to pay them. However, they will try and trick you. If you agree to pay them, then you are legally obligated to even if the statute of limitations has expired. Just asking if you can make payments implies you agree to pay. As these calls are always recorded, you'll be stuck. If you know two years has passed, you tell them you are aware of the law, and to stop bothering you or you'll sue for harrassment. If they know you know all your rights, they usually back down. If they think they have you intimidated, they'll really get aggressive.

Finally, my next method is loan consolidation. This is my least favourite method. You'll only have to make one payment a month, but it will be substantial, however, not as high as all your credit cards put together. You'll still be paying exorbitant interest rates to a thieving bank, plus you must cut up all your credit cards. If you don't, you'll find yourself drowning in debt again before you know it.
You'll have credit card payments, plus your consolidation loan payment and you'll really be screwed.

Remember, one of the worst things you can do is make minimum payments. This only pays your monthly interest and finance charges (the fee for managing your account - that's right, you have to pay the banks for the priveledge of being in debt), plus a little off the principle (the actual debt). That way, your balance stays high, and you have to keep paying month after month, year after year. For example, if you have say, four credit cards and owe a combined amount of $10,000, and you made only minimum payments to each, it would take you about 50 years to pay them all off - assuming you didn't charge anything else.

This is true financial slavery, or as it used to be called, indentured servitude - you work to pay off a debt. And like they did back in the day, it's all fixed to keep you that way as long as possible. The worst part is that it's all 100% LEGAL! So if they can screw you legally, why shouldn't you screw them legally?

If you want to learn even more, I recommend a book written by Kevin Trudeau called, "Debt Cures 'They' Don't Want You To Know About." You may have seen his infomercials on the Jew Box from time to time. You can also find it on Amazon.com. BTW I am in no way connected with Mr. Trudeau, and I will not profit in any way if you buy his book. It just contains much more detailed information than I've given you, and many more ways to legally get out of debt.

One last way not in Mr. Trudeau's book is the ANP and 21st Century National Socialism. In a National Socialist state, we would create a strong economy, seperate from the Global Economy, with a sound public employment program, and an independant currency apart from the control of the international banking cartels such as the Rothschilds.

This is not idealistic dreaming. It has happened before in 1930's Germany. That is why it was so vital to the international banking community that Hitler and the NSDAP be destroyed at ANY cost and control of Europe be returned to the Rothschilds, and the other banking cartels. BTW, the Rothschild cartel, which is a Jewish owned and controlled financial empire, controls two thirds of the world's wealth. Since then, they gained nearly complete control of the entire civilised world. By working with the ANP and embracing National Socialism, we have a last chance to break that control. If you have not already done so, we need you to join us now before it's too late. Time is running out. It's up to you, and all White Workers. Freedom, or financial slavery. What's it going to be comrades?

Disclamer: I am not an attorney. I am not advising you to take any specific legal action. I've just given you some important information. How you proceed is your choice. However, in addition to my teaching credentials, I also hold a paralegal certificate from California State University, San Bernardino. I have never actually worked as a paralegal. Taking all those law classes really showed me how corrupt the system is, and in the end, I wanted no part of it.

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