"Eliminating" your credit card debt (similar to FDRS)

[Christine]

Below are the filings submitted by Michael, a reader who posted at the blog.

As regular blog readers know, I recently stopped paying some of my credit cards and I've posted my Open Letters at http://mylitigation.net/

After reading Michael's letters and a recent court ruling, I realize that I also need to send my FCBA disputes. I also recently started researching Federal Debt Relief Service (FDRS) and it looks like they're a scam. However, they also send out FCBA disputes on behalf of their clients ("proprietary", which is a sign of fraud) and while FDRS is NOT the way to go, the concept is identical.

I just read Gengo v. Target Nat. Bank, 513 F.Supp.2d 842 (S.D. Tex., 2007) and I'll get the filings if they are on PACER.

Please keep in mind that this worked for Michael several years ago and lenders will start to defend themselves vigorously as more people try this.

But I look at it this way:

Judge Wake in Phoenix federal court ensured that collector Focus could continually ignore me and waste my time by awarding me sanctions much lower than my actual costs. He did that so that Focus (and any other defendant) could easily bankrupt me.

Logically, we can have the same effect on the banks. When they sue for delinquent debts and many consumers file counter claims, their expenses will be far greater than when they get the default judgments they're used to. Since most people won't pay (can't squeeze blood out of a turnip) even if they prevail, this is an EXCELLENT way to fight back.

And if you have no idea what this is about, you haven't watched Money as Debt.

http://creditfactors.com/Michael-FCBA-defense/

I could improve on the FDCPA letter and there SHOULD be FCRA claims, but Michael's docs are a great start. Thanks!

Additionally, I've been reading Ellen Brown's Web of Debt and I realize now why the banks have no right to demand repayment at all.

If you have any comments, please post in response to a relevant posting at the blog (search works!)

[Christine]

The 2004 Federal Reserve supervisory "warning letter" to banks about debt elimination scams.

FederalReserve-sr0403-debt-elimination-scams.pdf

1/24/04

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