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Posted by Jade
(126.96.36.199) on November 06, 2002 at 16:09:00:
In Reply to: Re: Trouble posted by observer on November 06, 2002 at 08:32:31:
I'm assuming that if they do put a higher burden of proof on consumers, any changes made to the FDCPA and FCRA won't affect things that are currently in default now and/or past SOL? I guess the best thing to do now is pay off any CC's you have, keep one for emergencies and only emergencies, and dump all other CC's. Save those payments you would have been making in a savings account and use that to make purchases, then pay yourself back.
I realize that people will always need to borrow money for large purchases such as vehicles and homes, but other than emergencies, if you save your money and pay cash instead of using a CC, the credit industry would lose a lot of money. No money, no power......and I believe that's something the little guy can do, if enough little guys get together....Just my .02 cents
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