Write-off doesn't mean the debt goes to heaven. It gets sold to debt collectors who will relentlessly hound you for payment... So dont get into credit card debt.
“ relentlessly hound “… I changed my emails, numbers, and I also moved. No more harassment after that. When they sue, just pay the small minimum to get them to leave you alone until you can afford to pay it off. That’s IF they can find you to serve you your court papers. If you’ve moved, it will be hard for them to serve you. Play the system ladies and gentleman. We all make mistakes.
@@bsgvlog5640 Depends on the state. Only certain states will proceed without a serving. But my State will not allow any jurisdiction proceedings until you’ve been served. It is illegal in my state and seen as unethical to process a judgment against someone who has no clue what, where, when and why.
All the people bragging about how many presents 🎁 they bought for Christmas 🎄 are in this "pretending to be rich but I'm actually broke" bracket. Silly Humans.
Understandable but credit cards are only a problem for people without financial discipline. They are a great tool for people with the discipline. Just as the wealthy borrow against their portfolio. I keep my portfolio solid. Keep my savings solid. And use my card to pay for almost everything I would normally buy monthly. Groceries to gas to utility bills. My Amex has no annual fee but thousands in hotel and other benefits. My cash rewards pays me a couple thousand a year and I never pay interest. Free hotel stays and cash that goes into my savings isn't a bad deal for just living my daily life.
The credit card companies are to blame. They give credit cards to everyone. My daughter went to college last year, 18 years old, no job and $170 in her bank account, and came home 2 months later with a credit card. What a bunch of morons these companies are.
I think the Joneses are forcing people to live a high standard then they want to, they wanna fix up their house and increase my property value so if I break a window and put in a cardboard box, will that decrease their value
Above 25% on a credit card. Throw in inflation and stagnant wages and you have not a mess but a quagmire, especially if you have little to no savings, which is so often the case with many.
Our president is suffering from dementia and can't even speak 60 words per minute. Did we expect him to read all policies or come up with ideas to protect us during this inflation?
If people have savings, why do they need to spend money on a credit card? ( other than for the reward points that can be converted into cash). Pay off the cards. Live within your means according to your actual income. Get a financial advisor who can tell you the same things.
Thanks for sharing such valuable information! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Credit cards will have less defaults when they ARE SECURED. This means: ¹ for a $ £1,000.00 credit card - for example - $ £1,000.00 in security is held by the bank BEFORE the card is issued. No security, no card. The funds remain with the bank always. Even if they release the amount held. ² $£5,000.00 has to have. $£5,000 held in security. And so on. Wealthy people gave to comprehend this. They are massive targets for scammers. Having said all this. A credit card must be in your possession. "Climate change" No security, no card. It applies to EVERYONE. Start saving!😢
people are trying to live the way they did during and before the pandemic while prices are higher and it's causing them to dip into credit cards and max them out. Middle income and upper are generally a bit more ok. I will say my spouse and I made less during the pandemic but things were cheap so it was great.
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Most Americans have Champaign taste with a beer budget. They need nice cars, shoes and homes that they can't afford.
Drink some Miller Genuine Draft, "The Champagne of Beers"
You couldn’t be more wrong. Many Americans are financially strapped and are trying to stay afloat.
Yeah it couldn't be the 20% increase in prices across the board in the past 4 years with wages being flat for the last 20 yrs 😒
Wrong. Most Americans just want to afford the basics.
This….💯
Write-off doesn't mean the debt goes to heaven. It gets sold to debt collectors who will relentlessly hound you for payment...
So dont get into credit card debt.
“ relentlessly hound “… I changed my emails, numbers, and I also moved. No more harassment after that. When they sue, just pay the small minimum to get them to leave you alone until you can afford to pay it off. That’s IF they can find you to serve you your court papers. If you’ve moved, it will be hard for them to serve you. Play the system ladies and gentleman. We all make mistakes.
@ibdamchanything if they can't find you to serve you, they can STILL sue and its considered summary judgment.
@@bsgvlog5640 Depends on the state. Only certain states will proceed without a serving. But my State will not allow any jurisdiction proceedings until you’ve been served. It is illegal in my state and seen as unethical to process a judgment against someone who has no clue what, where, when and why.
I agree play the game! You’ll be back getting credit offers in no time. God bless America!
And they are taking people to court and winning!
She actually said " if wages rise higher than inflation" 🤣🤣🤣🤣 funniest joke ever! Keep dreaming beautiful.
Do what government does, raise the debt limit
Double it and pass to the next generation
...and don't have kids.
All the people bragging about how many presents 🎁 they bought for Christmas 🎄 are in this "pretending to be rich but I'm actually broke" bracket.
Silly Humans.
I spent $0 for christmas
I don't mess with credit cards. If I can't pay cash I don't need it. by a confirmed millionaire
I'm working on it myself. Trying to get the income side up.
Understandable but credit cards are only a problem for people without financial discipline. They are a great tool for people with the discipline. Just as the wealthy borrow against their portfolio. I keep my portfolio solid. Keep my savings solid. And use my card to pay for almost everything I would normally buy monthly. Groceries to gas to utility bills. My Amex has no annual fee but thousands in hotel and other benefits. My cash rewards pays me a couple thousand a year and I never pay interest. Free hotel stays and cash that goes into my savings isn't a bad deal for just living my daily life.
@@SamLee-ds7fi Keep at it!😃😃
The credit card companies are to blame. They give credit cards to everyone. My daughter went to college last year, 18 years old, no job and $170 in her bank account, and came home 2 months later with a credit card. What a bunch of morons these companies are.
Most people in America are trying to “keep up with the joneses”
Just trying to buy a 1400 square foot house not in the hood on an engineer salary. That’s all. I don’t need a bmw
I think alot are trying to outdo the Joneses!
I think the Joneses are forcing people to live a high standard then they want to, they wanna fix up their house and increase my property value so if I break a window and put in a cardboard box, will that decrease their value
The heloc defaults will be next.
Above 25% on a credit card. Throw in inflation and stagnant wages and you have not a mess but a quagmire, especially if you have little to no savings, which is so often the case with many.
Can't get mad at credit card or bnpl companies It's people not being responsible for there finances.
There's nothing ethical about unexpectedly jacking up someone's interest to over 20%
Our president is suffering from dementia and can't even speak 60 words per minute. Did we expect him to read all policies or come up with ideas to protect us during this inflation?
President ain’t got nothing to do with how you handle money
No pity for people who recklessly doom spend. Have fun with that.
And I see the big picture and many don't. Many don't see where this is ultimately heading. If I told you, you wouldn't believe me.
Why do credit cards give so much credit?
Those credit card companies make a lot of $$$, even if a few people can no longer make the minimum payment.
Because the bank can use the amount of people in debt as collateral for other debt.
Try to pay off the cards and cut them up i went down that credit card hole once you in it its hard to get out of it
write off or allowance for credit losses?
Credit card companies shut the credit card down when the user defaults.
If people have savings, why do they need to spend money on a credit card? ( other than for the reward points that can be converted into cash). Pay off the cards. Live within your means according to your actual income. Get a financial advisor who can tell you the same things.
Cuz california keeps raising its taxes.
Thanks for sharing such valuable information! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Credit cards will have less defaults when they ARE SECURED.
This means: ¹ for a $ £1,000.00 credit card - for example - $ £1,000.00 in security is held by the bank BEFORE the card is issued. No security, no card. The funds remain with the bank always. Even if they release the amount held.
² $£5,000.00 has to have. $£5,000 held in security. And so on.
Wealthy people gave to comprehend this. They are massive targets for scammers.
Having said all this. A credit card must be in your possession. "Climate change" No security, no card. It applies to EVERYONE.
Start saving!😢
Tariffs will shoot inflation up again 🙏
people are trying to live the way they did during and before the pandemic while prices are higher and it's causing them to dip into credit cards and max them out. Middle income and upper are generally a bit more ok. I will say my spouse and I made less during the pandemic but things were cheap so it was great.
The rich are getting richer
So all is well in America.
You can call it Bidenomics! Time for change in 20 days!
Seny my credit card bills to Biden
⚠ Reality is A LOT WORSE THAN 2008!
This is gonna be a fun bumpy ride!
Brokey
So much talent in one video!,Something I don't understand: I have TRC20 USDT in my OKX wallet and I have the recovery phrase: 『pear flame keen lift shine genuine photo other wire motion pact common』. How should I convert them into Bitcoin?