Why Do Banks Still Call Even If You Tell Them You Can't Make Payments

This is my advice to you, when a lender or creditor calls asking for their money:You Say : "Listen, Mr. Lender. I accept that I owe you money. It's true I have missed my monthly payments. There is no question I am behind. The truth is...I don't have any money to give you. Let me tell you why...I have lost my job or my spouse lost his/her job or I made bad investment decisions or my business failed or I am a poor money manager or I do not plan to make any more payments...So you see I will not be able to make any payments to you for at least 3 (6, 9) months. There is no reason to see my financial paperwork, since I told you that I will not be able to pay you for at least 3 months. Now that I explained my situation, will you stop calling me for at least 3 months?"Lender Underpaid Rep Says : "We'll...

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A Bank Can Sue You and Get A Money Judgement

Hello all. It is time to talk about certain money collection practices by the Lenders which are UNFAIR. And that's just being mild. While I respect the right for a bank to collect on a loan, if they have received money from taxpayer funded TARP or GARP or TALF or RALPH programs (b/c they have debt issues) then they better be show the same respect to you because of your debt issues. Most of us know that a creditor can sue anyone of us, and if they win, get a money judgment. This judgment can be used to freeze your bank account while the creditor takes your money. A judgment can be used to garnish wages. It stays on your credit report for up to 20 years in certain states. The only way to get rid of a judgment is to win in court or settle with the creditor or pay the full amount with penalties.HERE'S...

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