Re: Hey Ya'll, You have got to read this

Posted by BeenThereStillDoingThat (24.187.170.238) on July 03, 2004 at 19:52:20:

In Reply to: Hey Ya'll, You have got to read this posted by Bob3 on July 03, 2004 at 19:23:40:

I found one too, its one that confirms what we are all saying:

"Ack!
Those "debt elimination" programs will only suck up your money and ruin your credit.

Their premise is that banks have loaned the consumer their own money, created when the account was opened (as an asset).
Or, another popular one is claiming that the banks gave out credit (intangible) not cash, and are not legally allowed to do so.

The "debt elimination" program proposes you sue the bank for their "violations" and settle for cancellation of debt, clean credit, etc.

Hahahaha. Just try it and see what the reality is. You will be thousands poorer, still in debt, and probably lose your shorts in the inevitable countersuit . Just like the "Government has no authority to collect taxes" people. They can claim that all they want during visiting hours at the Fed Pen.

Just a heads-up. I know that when one is in dire financial straits, these programs can look promising, and even appear like they might work.
Don't fall for it. Scam, Scam, Scam. "

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