Read on Twitter
I have 15+ yrs in the debt industry, VP for Guardian Debt Relief. I& #39;ve been dealing with banks & financial institutions daily. I fight every day with ppl however trying to explain to them that riding their debt is the best decision they can ever make. However... https://twitter.com/gemsays/status/989644810016477184">https://twitter.com/gemsays/s...
Us the ppl have been under a mass disinformation campaign, telling us that your fico score is the most important thing in your life. You see the commercials, it& #39;s constant. We& #39;re told we must have credit to buy homes, to rent apartments, to buy cars, and get the best rates...
Do you know that an individual with no credit but more wealth than another individual who& #39;s broke will be declined for a mortgage or a CC just because they decided not to get a credit card. Wait, 1 CC isn& #39;t enough actually, they want to see 4-6. It gets worse...
Did you know that if you pay off your CC& #39;s in full every month they will intentionally lower your limit, your purchasing power, do you want to know why? Because you are now taking advantage of them. The only way you truly get those "free flyer miles" is by paying in full...
If you don& #39;t pay in full, then those miles aren& #39;t free are they? Nope, because you& #39;re paying interest every month at an average rate of 21% and it& #39;s compounded interest. It& #39;s virtually impossible to pay off once it becomes 30% of your income...
Did you know that banks won& #39;t approve you for borrowing money if your debt to income ratio is too low? Yes that& #39;s right, if you& #39;re too good at managing your money you will be denied a credit card. Why? Because again, you& #39;ll be taking advantage of the system.
So banks literally want you to have between a 10-49% debt to high credit ratio. What does this tell you? It tells you that they don& #39;t want to serve everyone. They know they can& #39;t profit off the rich so what do they do? They charge an annual fee for charge cards...
Most medium income families never own a charge card, probably don& #39;t know the difference between a charge card & a credit card. Regardless, what& #39;s the whole point of this thread? I& #39;m going to tell you. You& #39;ve been enslaved by the elite, who used the media and Hollywood to help...
The media & Hollywood have been telling you that you need to keep up with the Jones& #39;
So you apply for credit, and you buy things you don& #39;t really have the money for, which leads to you buying more & more things you can& #39;t afford AT THE TIME... The whole point of you& #39;ve become...
So you apply for credit, and you buy things you don& #39;t really have the money for, which leads to you buying more & more things you can& #39;t afford AT THE TIME... The whole point of you& #39;ve become...
Inpatient to reward yourselves with luxuries. You& #39;ve been brain washed and it& #39;s not your fault. Here& #39;s what I want to tell you... You& #39;re living on the opposite side of the fence. You can& #39;t even put money in your savings account without losing money... That& #39;s right...
The interest that you have on your savings is well under the inflation rate. You& #39;re not saving money, you& #39;re losing money. Now add the fact that you& #39;re in credit card debt and tell me how you& #39;re supposed to actually get ahead? You can& #39;t. But you can, and it starts now...
The only thing any institution can take from you is secured debt. Your home and your car. Anything not secured to collateral is safe. You do not have to pay those debts. If you lost your job or suffer a financial hardship, you do not have to pay those debts...
I& #39;m not telling you not to pay them, that would be illegal, what I& #39;m saying is, if you cannot afford to pay them you do not need to worry about losing your home or your car or eating. You take care of your essential items first. You take care of your family first...
Let me tell you what a bank does when they SETTLE a debt. Meaning they allow you to pay half. They write it off! Yes they write the whole damn thing off! They then take the remaining money, lend it to someone else, and make their money back...
This crisis, was an attempt to further diminish the middle class. Keep you even more reliant on them. Have you begging for their forgiveness, for their help. You don& #39;t need to beg, you need to change your spending habits, and start thinking different. They get bailed out not you!
I hope you Retweet this so ppl can wake up. This is the moment in time when we take advantage of the crisis, not them. They will always get bailed out, but they only get bailed out because they know they can do it all over again. Don& #39;t allow them to enslave you #livelifedebtfree
