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Kevin,

I'm not being facetious, this is a serious question.

Did you ever study economics in school? Because I remember quite clearly the discussions on how 'money' can be 'created' by the banking system, and that's one of the things that makes the world go 'round. The Federal Reserve has rules as to how much in hard assets must be established in relation to how much can be lent out, and changes that in order to tighten/loosen the money supply. The banks make their money by their 'management' of all of this, and the economy 'grows' in part because of this.

Do you really not understand this? You've been in business for how long, and didn't understand the most basic tenets of economics?

Please rethink what you're doing here. I've had nothing but good dealings from you, but seeing this made me think (at first) that it was some spammer using your name. If you are serious about what you're saying here, it would mean I would have to rethink having future dealings of ANY sort with you (not that it is any great cause for concern, I know, because I haven't bought much from you), because I don't do business with folks that I believe are that foolish.

BTW, I took a quick look at the company FAQ, and saw the expected weasel-words that need to be there ("we can't guarantee your credit won't be damaged," etc.).

David Erbas-White

Kev>>Irrelevant. Screwing banks or credit card companies out of money you legally

Hi Jerry,

Whatcha got?

Mark

Maybe if you had some motors to go with dem rockets. 8-)

Kevin,

Doesn't matter WHERE their money comes from....what matters is that the credit card user agrees to the terms of the card. When they use the card to buy items they are responsible to pay back that money. If you can't afford to pay them back, then don't use the card. There is just WAY too much of this spend attitude in the U.S. without the fiscal responsibility that goes with it. God forbid someone do without that instant instead of saving until they can afford it. To me it's an ethical/moral question. Believe me I know of what I speak. After school I had mountains of debt and couldn't sell my house for 6 years while I had already moved to a new job. I had credit cards maxed out everywhere. yeah it woulda been easy but you know what, I eventually paid it all off by going without, driving a rusted out oil burning smoking car and working extra hours and not going out or taking vacations. Leave this scheme before you get burned.

Koen

Come on Kevin...you used the money you pay it back PERIOD

No debt free people continue to spend in the same irresponsible way that got them into debt in the first place.

I guess I always assumed he supposed to be was on everyone's side

Sounds like a justification for doing just about anything to anyone at any time.

Please. This has been stated over and over in previous posts; how can you not see it? The source of the funds is irrelevant; you sound like a jungle savage trying to understand television, and is outraged that the little man he sees isn't really there.

The simply and only reality is that you're encouraging credit card holders to receive goods and services, and not pay for them. There are no other considerations.

Look, the existance of credit card companies IS a blight on society; and they created a trap that's easy to fall into - I've been there. Long ago I spent three days staring at completed bankruptcy paperwork, waiting for my signature. I tore it up and got to work paying off the debt; most of which was incurred by another person for whom I'd taken responsibility.

As what I take from inference is a moral person, you need to rethink this.

He's on the side of what's right according to His word, period. Not necessarily the popular, convenient, or politically correct one.

Randy

So what words does He have regarding the asset hold-back requirements on warehouse credit lines? Maybe the lost writings of St. Enron could shed some light on this...

R O F L!

Good analogy too.

God bless you.

Money is a tool to effectuate a transaction. Some money is currency. Some is a credit line, some is a check, some is a bank wire. The only reason banks are allowed to "create" money is they account EXACTLY for its creation and DESTRUCTION and also carefully vett who can also help them (checking account users, loan customers, etc).

The collection laws and courts enforce the validity of the claims and Bankruptcy courts excuse valid debts at some large cost to those vendors being stiffed (for real money).

It is a zero sum game. But what the money BUYS and MOVES is NOT a zero sum game. Fast moving money motivates sales, jobs, incomes, and good times. So there is a social benefit to allowing liquidity of money availability since it is a mere tool to effectuate the transations engaged with it.

Jerry

This should be in the Economics FAQ.

National internet database. I have no knowledge of who or what AmeriDebt is or how they ran their business. If you have BBB info specifically on DSI, I'd like it so I can present it to the company for their response.

Kevin

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FTR they are in "similar" businesses with "similar" products.

The whole "free lunch" you are attracted by relies on someone "forgiving" or "abandonong" debt. Debt is generated by a purchase of a hard good or service.

The hard good or service is not returned in the transaction so the whole business model is to extract free money from vendors.

It really is as simple as that.

Jerry

So do you have ANY USR product in your shop?

I'm in agreement with Jerry here. Credit is simply a tool. Used correctly, it brings about many positive things. Used incorrectly, it causes a lot of trouble. The problem is that too many people use credit irresponsibly.

Because some businesses happen to do well at times when others do not. That's life, deal with it.

Wrong again.

What terms do you object to, and what does it have to do with your refusal to make good on your promise to repay what you owe?

Actually, it has been continual reduction in interest rates that has fueled the bulk of those profits. Some people I know have refinanced their mortgage five times in the last 6 years -- constantly getting a better deal. Each time a borrower refinances, the bank charges processing fees (among other fees related to the cost of doing business -- lot's a paperwork and legwork is required to process a loan). Some of these borrowers are refinancing to cash in on the equity of their property -- in those cases, it was the increase in property value that "created the money" that the borrower could use to pay for things. Others are looking to refinance for a better rate -- in those cases, the borrower's monthly payment and overall mortgage obligation is reduced, allowing them to save even more of the money that their property is "creating".

So, yes the banks are making money on loans, but people are also making (or saving) money with these loans. And it is the increasing value of property that is "creating the money". That's just part of how the economy keeps growing. The world wouldn't work too well with billions of people continually running around being fruitful and multiplying if we only had those same 50 drachma that were being passed around Jerusalem in 3 AD. Unless of course, everything was a barter but I think we all know that is not practical...

According to Kevin Nolan :

Their explanation, shorn of all singing and dancing is:

You've borrowed money to buy things, this is how you can avoid paying it back. It'll cost you $3500 or so to learn _how_ to avoid paying it back to lessen the chances of being arrested for fraud or declared bankrupt.

It's still solicitation of theft and fraud in my books.

Not that much different than Nigerian 419 scams - which promise you illegal profits if you pay them handling fees.

Legitimate debt counselling/consolidation is a fundamentally different thing:

You've borrowed money and are unable to keep up. Here's how you can rearrange your debt (and your financial habits) to get it to manageable levels and get out and stay out from under this mess.