Tag Archives: usury

THE TRUTH ABOUT INTEREST RATE INCREASES+

Rates

Interest rates on credit cards should never exceed 10% of the amount loaned or it should be considered usury. The penalty should be a bad credit card rating or legal procedures taken to recapture the money after a reasonable amount of time has passed and the interest has not been paid.

A lien on personal property is an example of a reasonable penalty if the loan was secured with the property in the first place. Unsecured loans shouldn’t  have liens placed on private property.

Late payment fees should be limited to no more than 10% of the monthly payment due.

Humans in trouble financially should not be extorted usurious rates of interest on a loan when they already are in trouble financially and can’t pay the minimum monthly payment on time.

Usurous rates are unjust and the credit card companies should not be permitted to practice their usury and get away with it legally!!!!!! 

Extorting money with usurious interest rates should cease and be illegal once and for all time. An unsecured loan is the credit card company risk and not the customer’s!

We desperately need a just financial system and not an unjust one which credit card policies are today and the problem must be addressed as soon as possible or the economy will collapse from the ongoing extortion corruption of the banking  or financial system.

I won’t mention the credit card company but we went through some tough financial times and the interest rate on credit card payments for late payments skyrocketed to 29% of the outstanding loan which is truly usurious extortion of the worst kind. It caused financial injury to an already financially injured customer mainly due to the unjust housing bubble bursting in 2008 caused by corrupt government, bank, and mortgage company collusion.

If you liked this evergreen truth blog then read more of them, about 1600 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

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THE TRUTH ABOUT OVERDRAFT FEES+

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An overdraft on an account is really a temporary loan by a bank for x amount of dollars for a given customer.  If the fee exceeds 10% of the overdraft amount then the bank should be found guilty of usury or extortion and forced to pay a fee and/or imprisonment time for those responsible for imposing the usurious fee.

 

Legal enforcement will be necessary to avoid loan sharking by banks who charge a flat rate of $35 for an overdraft of $349 dollars or less. Justice is possible but usurious rates must be stopped and banks must operate within the law or not at all.

 

To understand what usury is read my blog on The truth about usury.

 

If you liked this evergreen truth blog then read more of them, about 1600 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

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THE TRUTH ABOUT USURY+

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Usury: n. charging more than 10% on a loan and being guilty of extortion

Usury must have a numerical percentage limit on it or the word usury has no meaning and should be terminated as a word.

Sure, you can say that a potential customer has a risk factor greater than 10% so it makes sense to lend money at more than 10% interest. Yes, but what if the customer risk is 90% then should you lend him or her money at 90% interest? The answer is definitely no and if the risk factor is greater than 10% then no loan should be made to that customer by law!!!!!!

Whether the loan is for a day, a week, a month, or a year, more than 10% is a usurious rate and should be forbidden by law!!! Most credit card companies are usurious enterprises and should be regulated severely by the government to no more than 10% on a credit loan! That is true justice and not the sky is the limit philosophy on usurious rates of return!!!!!!

 If you charge more than 10% on a loan then you are a loan shark and should be fined and/or imprisoned accordingly!!! You are guilty of extortion or taking advantage of  or injuring the financially desperate!

If you liked this evergreen truth blog then read more of them, about 1600 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

THE TRUTH ABOUT PERSONAL DEBT

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If you are in tremendous credit card debt then chances are that you never learned to budget your money and are an impulsive buyer unable to control your overspending habits. You are not alone. That is the predicament of many Americans and the government is just as irresponsible with money judging by the incredible national debt which it has gone into.

If your credit card debt is from about $40,000 to $100,000 then scaling down your spending habits with the help of financial budgeting is the only way out which means less money spent on eating out, no new car purchases, less spent on clothing, less spent on entertainment, less spent on luxury items, no vacations away from home, and not having more offspring if you have some already. You will just have to change your bad spending habits by prioritizing money and only spending it on the most important necessities in your life.

Google or Bing money budgeting to get advice on how to categorize your expenses and only spend up to the money limit of each category each month. Each month or paycheck you should include money saved for emergencies such as house repairs, appliance repairs, medical expenses, and even some saved for retirement.

If your credit card debt is outrageous or about $200,000 and you are paying about 15% interest on it then you are paying about $2500 dollars a month extra and pissing it away with no benefit to you. That is paying about $30,000 a year or the price of a new luxury car each year. Pay this amount for 10 years and you could afford to pay off a $300,000 house.

What should you do? Bankruptcy is an option and you can talk to an attorney but one way is to stop payment on all the credit cards and negotiate a lower payment schedule with the credit card company. Tell them that you can afford to pay them 7% interest and no more and threaten not to pay them anything if they don’t agree to your terms and mention your outrageous credit card debt amount.

If you succeed then your monthly payment to them will be approximately half the usual amount. If your attempts at negotiation fail then stop payments, rent a safety box at a bank, buy gold bars with the money you save from monthly credit card payments, change your phone number to avoid harassing phone calls from the credit card companies, and wait for court summons from each credit card company. Court summonses may take up to a year to arrive so you will have plenty of time to save and prepare yourself for the legal bullshit.

When you go before a judge then state your outrageous debt amount and tell him you can only pay 7% interest on the loan. Chances are the credit card company will not have any lawyers present but will teleconference via the telephone and agree to your terms. If the credit card company does not agree then some judges may put a lien on your house or maybe even garnish your wages but this is highly unlikely since it is an unsecured loan and legally improbable.

The worse case scenario is that your wages will be garnished and you can then declare bankruptcy and live off a debit card for a few years with the help of your gold savings and even quit your job if you are single to show that you have no earnings during the bankruptcy proceedings.

The credit card companies tried to screw you with high interest rates designed to enslave you for a lifetime. It is time that you say screw you and go through the legal bullshit with conviction that you will come out of your bad situation in better financial health than before. Bad credit is a fact of life for more and more Americans and it is time you learned to budget your money and live off of a debit card for a few years!!!!!!

 

If you liked this evergreen truth blog then read more of them, approximately 600 so far, and one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

Enjoy!!!!!!