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Legally Terminating Credit Card DebtLegally Terminating Credit Card Debt
MichaelG said: "I stumbled upon this site that I found intriguing. [url]http://www.Howtolegallyterminatecreditcarddebtyourself.org[/url] I wondered if anyone is familiar with this site, and can provide feedback positive or negative. I do know about certain company's charging excessive amounts, claiming they can eliminate your cc debt But, for what they are charging, and the fact that they sound like cheesy MLM's, I wouldn't even consider getting involved, but the guy who wrote this ebook seems very knowledgable and it's quite reasonably priced. Is anyone familiar with this?"
ideamaned said: "Hmm... interesting. I'm actually coming out with my own book on this stuff. That author probably has some good information, but the hype-ish tone of his website is unimpressive to me, and shows a lack of sophistication in his or her writing ability. Although if this person is a paralegal, then they probably have some useful material.
I thought it was irresponsible of the author to hype how someone received settlement offers that could have saved them $10,000 without mentioning the drawbacks of accepting such deals, such as being obligated to pay taxes on the part of the debt which is not paid and the effect it has on your credit report.
The Fair Debt Collection Practices Act can be effectively used as both a shield and a weapon. It's something a debtor in trouble should come to know very well. There is a lot of advice out there that is not complete or is incorrect, and this can be detrimental.
The author's implied claim of legally terminating debt without bankruptcy does not sound right.
As for me, I abandoned my unsecured debt instead of doing bankruptcy because it ruined my credit for just 7½ years instead of 10½ years. And it had some other advantages. Then I used the FDCPA to stall and defeat my opponents. Now I've reached the statute of limitations for credit card debt in my state. The legal position of those seeking to collect from me has been destroyed. But, it does not mean those debts are terminated. Collectors can still attempt to get me to pay. They might even try suing me. But as long as I use the statute of limitations as my defense, they can't get me.
The method that author advocates probably is similiar to the method I used. But it is not a clean way out. It is a little messy.
Regarding getting third party debt collectors to pay you, that is very tricky. Certainly it can be done, but it takes a great effort in legal research to attack a debt collector "pro se" (without a lawyer) and prevail. And the example of how somebody got over $21,000 out of a debt collector is highly unusual. The federal FDCPA limits the award to just $1000 plus actual damages, if any can be proven, plus court costs and reasonable attorney fees. Finding an attorney to handle an FDCPA action could be very difficult. I think most people would rather not get into suing debt collectors, they just want them to go away.
For anyone with good English writing abilities, I'm interested in getting some reviewers for the pre-publication version of my book. You would read it, note any errors, like missed commas or misspelled words or any defects like that. And just give me your honest feedback on the value of the material and the quality of the writing.
The first draft is complete. I need to review everything. Then I will be ready to spread a few review copies around. I'll be needing prompt feedback.
If any debtors currently dealing with serious debt problems is interested in reviewing my book, let me know: [email]ideamaned@aol.com[/email]
I get a lot of junk email, so please put "Book" in the subject header."
MichaelG said: "Ideamaned: You mentioned you thought it was irresponsible for the author to point out that someone had received $10,000 settlement offer without mentioning tax repurcusions. You're missing his point. He doesn't recommend accepting a settlement offer, only that the cc co. caved in and started backpeddling and presented what in their minds was a compromise, knowing that they were in violation of the law."
anchorbob said: "What a ridiculous URL. The guy should have looked for a shorter domain name."
MichaelG said: "Agreed. Now what about the content? If you were once obese, and lost 200 lbs as a result of an ebook you bought and read, would you care that the URL was: [url]www.howtoeatallthefoodyouwantandlosealltheweightyouwant.com[/url] ?"
Nathalie29 said: "Ideamaned: I'm an English teacher and a self proclaimed "grammar Nazi" :) If you'd like me to take a look at your book let me know."