People trying to eliminate credit card debt are looking in all the wrong places for the wrong answers. Federal law for immediate debt relief was written over 40 years ago before plastic debt existed and this author was dodging bullets in the Vietnam War hoping to stay alive long enough to write this very article so if you want to avoid the debt bullet then you might consider reading this very closely.
Things change over time so what was once bad may change to good and good may turn bad. Plastic was just coming into existence in the 60s and those wealthy enough to hold the first Diners Club cards were the only card holders. There was no credit card as we know it today because Diners Club fees were due and payable when the bill arrived.
At about the same time the Federal Trade Commission was writing law on what constituted fairness in collecting a debt and card companies started thinking about extending credit terms and profiting from interest on those who might be a little short of money when the payment was due. At the time all was still good.
Things began to change as bankers greedily looked for ways to expand both profits and market size until you have this present-day banking mercenary army imposing credit card debt and hence slavery on the population. The good card turned so bad that one in every six cardholders is now delinquent and must face the debt collectors' firing squad or escape debt.
Laws on debt collection have remained virtually unchanged. As plastic credit cards evolved and adapted cutting edge technologies they failed to comply with the laws of the land which opened a gaping legal loophole in the debt prison fence which will allow anyone to eliminate their unsecured debt and escape to financial freedom.
So you wonder how this debt loophole exists and why everybody isn't using it to get the help they need to banish all their unsecured debts? Simply stated it is a lack of public knowledge. A credit card company can never lawfully prove a signed contract exists, that damages have occurred to the bank, a loan was given to you and there is no one with personal knowledge of your account qualified to testify in court just to mention a very few legal basics.
The digital age makes it virtually impossible for debt collectors to prove that anyone owes money under the old Fair Debt Collection Practices Act written in the 60s. All you need to do is look at a collection letter and all of them say ""if you do not notify us within 30 days we will ""assume"" this debt is valid"" because they don't really have a clue if you owe anything. They simply purchased digital information from someone claiming that you owe money.
A collector's information or even the card company's electronic data cannot meet the legal criteria under law written years ago before greed and corruption dominated the card industry making it extremely easy for anyone to eliminate credit card debt if they choose to do so.
So there you have an old veteran's story and now it's totally up to you to decide if you will use the legal freedom I risk my life for to stand up against some whimp debt collector that would lay out of work for a hangnail or are you going to lace up your boots and send him back to the ""dark side."" Use your freedom of choice.
If you need my personal help visit http://creditcarddebtprotection.com/ and down load the free e book Control Your Creditors to begin educating yourself with the wisdom to stop any debt collector in his tracks. Find out why collectors will gladly accept 10% of what you owe just to get rid of you or go away altogether. Learn the secrets to improve your credit score 60 to 120 points after you stop paying and learn money mastery for life to stay out of the debt trap forever.
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