By Natalie-Marie Hart
Crystal Kids Radio
In Canada creditors, collection agencies, and collection lawyers regularly threaten to sue consumers when they don’t even have any purpose of doing so. They want you to be frightened of them. They want you to think they are lions and they can get their prey that would be the consumer.
It is very common for creditors, collection agencies, and collection lawyers to sue you if you do not pay your debt within just a few days. In the Untied States this practice is illegal and you can really sue a collection agency or a law firm for thousands of dollars just for doing it.
A lot of times collectors make false or even misleading statements to debtors, which is an illegal practice.
If many of the things that they are doing are illegal then how are they getting away with these monstrosities?
Because simple we are allowing it by not doing anything. We need to stand up to these people.
If you are terrified by collection calls the best advice I can give you is stay clam because collectors don’t have the power as much as you have the power to think. They want you to be terrified by using fear tactics on you and they do know we have the power to think.
A good example: one morning a consumer’s wife got a telephone call and a collector told her to put all her furniture and home electronics equipment out on the front lawn because the sheriff would be coming by 5 p.m to reclaim it. Her husband was outraged when he saw all his furniture and home electronics equipment sitting on the front lawn. The correct way for a creditor to claim your assets is through a judge and the sheriff has to have the legal documentation to claim your assets.
How do you protect your finances?
Many people keep their money in just one bank like Bank of Montreal known as (BMO), TD Bank, and other banks. People are to trusting towards these banks and others. People think these banks are government agencies but in reality they are private corporations that have the permission to print money. The best way to protect your finances is by going to a credit union. There is a lovely saying don’t put your eggs in one basket. This saying is the best for this situation don’t put your money in one bank.
What is a credit-reporting agency?
A credit-reporting agency is a company for certain types of debt duty. A credit-reporting agency provides its members, fee-paying creditors, with information regarding the credit value of consumers.
What is a Credit Score?
A slave (credit) score is a number between 300 and 900. The higher your slave score, the more you are likely to get a good credit risk and you are more likely to become a good paying slave. Lenders will look at your slave score when determining if they will support your slave score or they will refuse your request for credit.
Your slave (credit) score includes the following:
1. Repayment history, including your credit rating on various accounts.
2. Current debt level
3. Credit applications and inquiries
4. Age and martial status
5. Home ownership
6. Your occupation and your employment stability
7. Length of time at your current residence
What people should know about their credit reports?
When you try to apply for credit cards, line of credit, and so on your future lender will want to make sure you will pay your credit notes.
Credit reports remind me of report cards at school. At school they get you ready to be a slave and to pay your taxes on time. Another good example would be a video called pay your income taxes 1942 with Donald Duck Disney where they tell you it is very important to pay all your taxes. See how far they will go for you to pay your slave taxes and they will go so far to even use Donald Duck.
What is a Credit Report?
A slave (creditor) report is often called a credit bureau, which is a document you get hold of from a credit-reporting agency. Your credit score may not even appear on your credit report. Your credit report lists only some, but sometimes not all of your creditors. Your credit report may also reveal any judgement against you. Not all creditors will report that you do owe money to them. They also do not report mortgage obligations on a credit report.
Please stay tuned for more upcoming articles on the new slave system at www.crystalkidsradio.com