Universal Defaul: Credit cards
Suzy Orman explains the basics about the “Universal Default” used by credit card companies to charge you very high interest rates. More info at: sccrealestateuncensored.com micasamidinero.com
Tags: Credit, Cards, Credit Cards, high interest rates, Universal
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@rayme4raw - Yes… I’ve seen Suze’s commercials about FICO and the credit card industry. She is a bought and paid for TOOL of the commercial Debt Slave System. She is using her popularity to support the credit card industry. I call that a conflict of interest. Who’s paying her to do those commercials, hmmm?
@HurricaneHeidi - I repeat -
Your mortgage company cannot raise your interest rate because it is contractually FIXED, so NEVER fail to make your mortgage payments. Do NOT lose your home.
DEFAULT on the damn credit cards and learn to defend yourselves against collection like I did. They are not a convenience. They are a deliberately BAITED TRAP designed to make us into life-long debt slaves.
If I can do it, you can do it.
Use debit cards only and move your money to a Credit Union ASAP
@Yankhadenough - You are absolutely correct. I completely agree with you, and I speak from personal experience.
I defaulted almost 6 years ago, defeated a collections attorney myself without hiring a lawyer, and I completely avoided bankruptcy and got myself and my husband out of the vicious commercial debt trap.
I published a book describing exactly how.
watch?v=kkcnQdWzC3s
The goddam banks have lobbied Congress to get bailed out through our TAXES - take back your money. DEFAULT
It is INSANE to keep making payments on UNSECURED DEBT (credit cards) if doing so makes you unable to keep up with your payments on your SECURED DEBT (mortgage).
Not only would that put you in danger of losing your HOME through foreclosure, but just as Suze says, the credit card companies would raise your interest rates anyway because of the black mark on your FICO score for missing your mortgage payments. YOUR MORTGAGE COMPANY CANNOT RAISE YOUR INTEREST RATE because it’s contractually fixed.
How about this? DON’T use credit cards in the first place?
LOL, Suzy is a bobblehead. Did you see her latest FICO commercial. Don’t worry folks, your money is still safe in the bank:) Wait, isn’t FICO broke?
Fuc- FICO! Just defult. tell them you have no money, no job, no assets, no life, then they will leave you alone. Next, SAVE and pay cash for EVERYTHING! yes, even a house can be bought with cash. thats they way it use to be done.
wow problem solved! just don’t be late on ANY of your payments and then maybe by the grace of our bank lords your interest rate won’t shoot up like a rocket!you see, the problem really is not HOW to come up with the payments,oh no,it’s when to pay! I personally suggest and I’m sure this woman will agree,that you link one of your multi million dollar checking accounts electronically to your credit accounts,
therefor insuring TIMELY payments.I love it when rich people give financial advice.
Default. Send them a cease and desist letter, change your number. Credit card default is growing more popular with each passing day. The dollar is now tanking and that will soon cause big time inflation. The economic recovery is a myth. It’s individual economic survival time folks. Paying them back is insane. Suzy is an over paid bubblehead.
lol if anything you should default on your credit cards
I couldn’t agree more. And how much is she getting paid?
no shit sherlock, i think we all know that already. you’re not saying anything usefull, i watched this lady in 4 clips now and nothing she says is smart. she’s only smart enough to state the obvious
It should be illegal!
or max your credit card on gold and can food and then ask for the save american program……credit card know about this program because i told them about it before i closed my account… if they take our government money they better have one…. juice the card now because money will be worth nothing soon…… when i take 10,000 for a loaf of bread that is when you pay them off…..
Time to bust the credit card industry folks> default, Default , DEFAULT. Defaulting stays on your credit report only 7 years, bankruptcy for 10 ! Keep paying your mortgage and car loans of course, and check your state laws BEFORE you default on cc’s (in case they can garnish wages or put liens on your home) . Florida is debtor’s haven.
Very interesting,and scary! Thanks for the info.