Please show me where this comes from. I checked them out myself with the BBB and found they had had only 1 complaint and it had been resolved to the customer's satisfaction .
Kevin
"4" Kevin Nolan Countdown Hobbies;
And also objective.
NEVER SAID THAT, that was put into an artical about him by a newspaper man.
Cold hard fact, He never said it.
Research it for yourself. You're not going to take my word it.
Kevin
"4" Kevin Nolan Countdown Hobbies;
How can you legally owe "money" that was created on someone's computer out of thin air on your name, while you have to work for every actual dollar of your own? If the credit card companies loaned you their own money, then there'd be no argument here. They don't do that, but we all thought they did, didn't we?
Kevin
"4" Kevin Nolan Countdown Hobbies;
Geeze... It's this simple... If I run up $25,000 in CC debts, yet you have a way that I can get out of it without paying, seems some one is out $25,000! Even if it is $24,000 in interest, the shareholders of the "bank" (we the public, if you own stock) get screwed!
"Erase your debt by screwing others". Hey, I still got that swampland in FL!
Yes.
But as an econ major, the ability of a "bank" to create money (something YOU do every time you write a check or use a check card) it is created for use and destroyed by repayment.
There are always two sides to ANY accounting.
The only "free lunch" at a bank is the authoirizaton to create more money than they actually have on physical deposit.
They get in trouble when like in the 80's S&L scandal they have "bad loans" in excess of all proceeds from all activities on all 7 of the transactions they do on every hard dollar they actually have.
That's how a bank can "lose" 2-3 times as much money as they actually "have".
Debt abandonment plans are like Bankruptcy without the ding on your credit. They explioit a creditors willingness to abandon VALID debt as if it were BK since they have been accustomed to BK. Look at the recent AT BK. $6m in real money vaporized in BK. Over $2m in assets transferred to Gary for a ~$150k investment.
That's free money.
Jerry
Fact.
Remember Ray, the CC companies (the big ones at least) are "owned" by shareholders - the general public, Mutual Funds (part of many 401k's), etc...
So, schemes like this are set up to "screw everyone else"
Hay, go google Debt Solutions International
Free advise.
Form a bank.
Jerry
Was that your local BBB, or the national data base? Do a search on "Ameridebt" on the web... See what the feds did to the "big boy".
Your proposal is to "emphasize" bad loans.
By contract. Seriously.
At least this executive summary is accurate.
The good news for Kevin is if the morons agree to it, it is legal!
Morality aside of course.
Jerry
Or unhuman "persons".
Did you receive a product or service based on '"money" that was created on someone's computer '?
So, if your scheme erases that debt, seems that someone got a product/service that someone didn't get paid for!
Loaning money is also a "service", and those that get screwed if a deadbeat weasels out of an obligation (interest), it's not that "the big bank in the sky" get's their just desert, it's the shareholders - anyone that directly, or indirectly owns stock in the company!
Kevin - your are promoting a scheme where someone does get screwed!
Aerotech bankruptcy accomplished the same goal. (~$2.4m)
This scheme bypasses the BK but is otherwise similar.
Jerry
The only difference is the name they are currently operating under, and that DSI hasn't been prosecuted and shut down yet.
I'm amazed that anyone can still fall for these scams, but they *do* put up a good line of BS to try to convince the unwary.
Kevin, seriously, before you do *anything* please consult with a lawyer, or, at the very least, a financial professional *not* connected with these people. Don't fall into this; you're too good a person.
A loan is a loan. If you accept it you're obligated to pay it back. Whether you like or agree with the bank's business arrangements or source of funds is irrelevant to your obligation.
No offense Kevin, but anyone who keeps accepting every offer that comes along, or maxing out their credit cards until they can't afford to pay it off, is an idiot. You are responsible for your own actions, not the bank.
The source of the money is irrelevant to your obligations as a borrower. If you don't like the way the bank does business, don't borrow from them.
Now you're _really_ sounding like the cranks who say taxes are illegal.
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