Debt Relief Forum

Did anyone else seethis video appearing on YouTube? Rep. Michael Burgess (R-Texas) stated “I understand we are under Martial Law, as declared by the speaker last night”

This might be something that you would expect the speaker (Nanci Pelosi) to declare and the Bush administration to desire, Mr. Burgess was hopefully using the term “Martial Law” in a figurative manner, in order to express his disgust (and that of many others) at the way in which this sham”bailout” deal is being conducted.

George Bush has created many new executive orders during his term, enabling him to introduce Martial Law for a variety of reasons: A terrorist attack, civil disturbances, Flu outbreaks, weather related disasters and more. It is not impossible that he could declare the current financial crisis as a “National Disaster”.

However, the real problem lies with the Federal Reserve and the power they have to control the United States (and many other institutions around the world), including the political system of course.

The Federal Reserve is nothing more than a private bank (with no reserves), run by people who used to be called “money changers” in bygone days. They may have a fancy title today, but their motives have not changed; Total control of the global money supply.

Having the ability to control a country´s money supply enables them to dictate the destiny of others, by creating a false crisis in order to buy up failing companies at a fraction of their real value, which later become very profitable when they decide to increase the money flow again.  These “money changers” have been around for more than 2,000 years, manipulating world events and money supplies, in order to satisfy their greed and need for power.

Martial Law is still a possibility, but the “money changer´s law” is the root of the problem and that is what needs our most urgent attention. But does anyone have the courage to take them on?  The only organized outfit I’ve seen that even comes close to honestly and intelligently educating and rescuing Americans from the clutches on these “money changers” is, Federal Debt Relief System. 

Their mantra is “Restore America’s Freedom” and they know that freedom begins with straight forward education on the most important thing most of us know nothing about; money; where it comes from, how it works for the rich and powerful and against the rest of us, and most importantly, what ordinary citizens can do to free themselves, their families and neighbors, everyone, from this plague of tyranny.

I urge anyone looking at this to go to fdrs.org  to prove me wrong if you want, but if your eyes and your brain work, you will agree something has to be done by everyday Americans before the country is completely lost.

Until 1996, a late payment on a credit card account typically resulted in a fee of $10 to $15, but now such late fees more commonly range from $29 to $39. Of even greater consequence to consumers is the cascade of costs that late payments now trigger: after just one late payment, most major issuers will raise the interest rate on the account to a high “penalty rate” or “default rate” that currently averages over 25 percent.

Nearly a quarter of households reported paying a charge for a late payment at least one or two times in the past year. And they are not alone—credit card issuers collected more than $16 billion in penalty fees in 2005.

This higher penalty rate also may be triggered by a cardholder exceeding the credit limit on the account. These late payment penalties—high fees and interest rate hikes—may affect millions of cardholders of all credit risk levels, because grace periods have shrunk, giving customers less turnaround time.

Another increasingly common, if controversial, practice among card issuers is to extend their right to trigger the penalty rate for reasons unrelated to their own experience with the cardholder on the account.

The new, higher default rates may be triggered under the contract without advance notice to the consumer. To create an even greater “sticker shock,” they are applied retroactively to the entire outstanding balance, rather than only to future charges.

Known in the industry as “universal default” clauses, these revenue-generating policies amount to levying a fine before there’s an offense. Card issuers now routinely check their cardholders’ credit reports and may raise the interest rate on the card if there has been a change in the consumer’s score, or if there is a late payment reported to a different creditor. Interest rate increases also can be triggered when a cardholder inquires about a car loan or mortgage, gets a new credit card, or bounces a check.

Unfortunately, in the past two decades, the U.S. cost of living has climbed 88 percent while incomes for the bottom 60 percent of households have risen only 5 to 15 percent. Government policies should support efforts by families to meet the cost of living, so they are not forced to take on debt to cover basic  living expenses.

The largest percentage of households using credit cards to pay essential living expenses were those with incomes of $20,000  to $50,000. In order to avoid excessive credit card debt, families must earn wages that will cover basic everyday expenses such as housing, food, and transportation.

One-third of Americans who were without health insurance in the past three years attributed illness or other necessary medical expenses to their current level of credit card debt, and almost half of these households were using credit cards to pay for basic living expenses. Forty-five million people lack health insurance in the United States—the majority of them employed in full-time jobs.

While families struggle to cope with medical emergencies or chronic conditions, the increasing costs of health care create an additional burden on their financial livelihood. Improved access to affordable health care would help families significantly improve their financial position.    Federal Debt Relief System can help you and your family.

Go to fdrs.org for more information

Why do some low- and middle-income homeowners continue to carry large credit card balances even after they have used equity in their homes to pay off credit card debt? Was it over-consumption?

No.  The reasons were the same ones discussed earlier: bad luck and lack of other traditional safety nets such as savings and unemployment benefits.

Homeowners who use proceeds from a mortgage refinance to pay down credit card debt are more likely than other homeowners to have incurred subsequent credit card debt because of home repairs, car repairs basic living expenses, or a layoff.

For low- and middle-income homeowners who use credit cards and home equity as their primary safety net, the debt cycle continues.

Regardless of the uncertain benefits in trading home equity for credit card debt, the reality is that using home equity does not in fact decrease credit card debt levels for low- and middle-income households.

20 percent of homeowners who had paid off some credit card debt with a mortgage refinance in the last three years had added $12,000 to their mortgage debt and at the time of our survey still had average credit card debt of over $14,000.

As a result, they were carrying 18 percent more debt than homeowners in our survey who had refinanced a mortgage but not paid down credit card debt—even though their incomes were almost identical. Adding to secured debt and incurring more credit card debt is a recipe for financial disaster—and one faced by millions of Americans.  Federal Debt Relief System wants to help you.

Go to FDRS.org now to learn more and find out how you can free yourself from eternal debt slavery!

Federal Debt Relief System saved my life.   When I first looked into them I will admit I was somewhat skeptical.  At the same time I was sinking in debt and really needed to do something and decided to take an open mind and check them out. Then I talked to one of their debt specialist and he put it to me straight-told me what they could do for me and what they couldn’t-the benefits and the pitfalls.  They did work for me and I can only sing praises for such an incredible patriotic organization!  I know my experience with FDRS has been very positive.

I always assumed there was some corruption hovering over our government and America’s Banking system. Now I can look on their website, or watch documentaries like “Freedom to Fascism.” It’s very empowering to have the proof in front of you; down to every law, or absence thereof. It’s also motivating to know that Federal Debt Relief System is fighting to remove this corruption. The burden of debt is being removed from people’s lives!