Have You Been Had By Credit Predators?

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Debt Warriors Have Been Sounding The Credit Card Alarm For Years.

You may be a victim of Predatory Lending. In our arguments against those who say, “just pay your bills” or claim, only dead-beats are in debt.  Debt Warriors used the words of Bankruptcy experts like Elizabeth Warren.

What are Credit Card ‘Revenue Enhancers’?

Racheal Maddow is the host of the Racheal Maddow Show on MSNBC.  Last night she had Elizabeth Warren on to discuss the latest on the Consumer Financial Protection Agency.   According to Ms. Warren, the Banks and Credit Card Companies have been tricking American Consumers with “Revenue Enhancers“.   You don’t have to take my word for it.  You can watch for yourself here.

The Unfair Fight Against Consumer Protections  Continues

How is it possible that the Banks are trying to fight the proposed Consumer Financial Protection Agency?  And why would any company want to destroy such an Agency even before it’s founded?  I can sum it up for you in one word – GREED.  Yes good old Greed is greeting the Consumer Financial Protection Agency with an evil grin.

Banks and Credit Card Companies complain that protecting American Consumers would end innovation in the Credit Card Industry.  Financial Institutions claim that ending innovation will hurt the American Consumers’ choices and therefore make it more expensive to lend to borrowers.  Do you believe that crap?  I don’t.

The fact is if you’re a Credit Card Holder, you need the U.S. Government to step in and end the unfair fight against your financial future.  But even if the Banks and Credit Card Companies defeat the Consumer Financial Protection Agency, Debt Warriors will be here to help you win your war on Credit Card Debt.

What To Do If You’ve Been Used and Abused By Usury Rates

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I recieved an enlightening email today that I’m sure everyone with any kind of loan should be concerned about.

The email was titled (The History of Usury).

It came from  from Debt Warriors Allies at Americans for Fairness in Lending (AFFIL.ORG.).

• Did you know that The Prophet Ezekiel included usury (high Interest Rates for Loans),  in a list of “abominable things,”?

  Ezekiel considered charging high Interest Rates as horrible as rape, murder, robbery and idolatry (Ezekiel 18:19-13).

• The American colonies adopted Usury laws, capping the interest rate at 8% for loans.
• Fast forward to the 1970’s when The Supreme Court rules that National Banks can export State interest rate laws of their Home State into any other State where they do business. After that, South Dakota removes  interest rate caps.  Many Banks that issue Credit Cards move to South Dakota and operate nationally with no interest rate caps.

What You Should Know:  The Credit Card Act of 2009, Does Not Cap Interest Rates:

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So what can you do about high Inerest Rates for Credit Cards?

1. You can join the fight to place caps on Usury Rates.
2. You can donate whatever you can to Americans for Fairness in Lending (AFFIL.ORG).  AFFIL has boots on the ground around Washington.  They know how the Legislative Process works. And they are successful at bringing positive change to American Consumers.
3. You can also learn how Credit Card Debt is calculated, the terms and conditions for credit and what your Rights are regarding Predatory Lending.

2 U.S. Bills Aim to Emancipate Credit Card Debt Slaves

Former Slaves Celebrating the "Freedom Day"

Harriet Tubman, could have “saved more Slaves, if they only knew they were Slaves”

Abraham Lincoln is known as the Great Emancipator of African Americans from Slavery.

Ironically, today African Americans celebrate Juneteenth or Freedom Day, because hundreds of thousands, of African American Slaves didn’t know they had been emancipated (set free legally).

Can President Obama Emancipate Today’s Credit Slaves?

You may have heard that President Obama is meeting with Credit Card Company CEO’s today. I don’t know about you, but I’m a little nervous about this meeting.  During the 2008 Presidential Campaign, Mr.  Obamas‘  meeting, with Banks and Credit Card Companies was private.  No details of the meeting were disclosed.

After being elected President, of the United States, Mr. Obama got out of Washington for a while (back in March, 2009).  One of  the stops the President made  was Costa Mesa, California.  While in California, the White House Blog Reports,:

“He expressed support for the idea that the banks and companies bilking people on credit cards should be put in check by a credit card holders’ bill of rights.”

More Americans Becoming  Credit Card Debt  Slaves

There is mischievous sort of Legal Slavery in America.  The thing that stresses me is that many Americans have not realized that they may be  Slaves to Credit Card Debt –  Credit Card Debt Slaves 😦

A Credit Card Debt Slave  is anyone with over $10,000 in Credit Card Debt.  They are also known as “Credit Card Revolvers“.   Those who have defaulted on their Credit Cards are a long way from paying that debt off.  Are you a Credit Card Debt Slave?

If you are over ten thousand dollars in Credit Card Debt and carry large Outstanding Balances, I’m sorry to inform you, that you are a  Credit Card Revolver and you may stay a Debt Slave, if you don’t help yourself out by taking action.

Senate and Congress Bills Aim to Shatter The Shackles of Credit Slavery

The are two Billing pending in both the U.S. House and Senate.  Contact your Lawmaker and tell them to support the “Credit Card Act” and “Credit Card Holders Bill of Rights“.  You can also follow what President Barack Obama is doing and hold him accountable to keep his word of holding the Banks and Credit Card Companies “in check”.

President Obama can not force Congress or the Senate to act on these two pieces of Legislation.  Only you and Americans like you can build the movement needed to abolish Credit Slavery.

Just like Harriet Tubman could have saved more slaves, I’m hoping that you realize, that you may be a Credit Slave, and tell your Local, State and Federal Lawmakers to support the Credit Card Act and “The Credit Card Holders Bill of Rights” .