Similarity:
They both do dirty jobs
Difference:
Janitors come out clean;
Collectors remain dirty.
Friday, April 30, 2010
Collectors & Janitors
Similarity:
They both do dirty jobs
Difference:
Janitors come out clean;
Collectors remain dirty.
Saturday, April 24, 2010
Is It A Crime ?
This blog is often being referred to when people search concerns about "Credit Card debts being a crime".
One generally cannot be thrown in jail for failure to pay a credit card debt or failure to pay someone's car loan or failure to pay their home loan. Yet collectors, debt collectors much of the time will call up and pretend to be police officers, pretend to work for a sheriff's department, pretend to be with the government and tell a consumer that the debt collector is a detective. Unless the consumer gives bank account information over the phone, then the consumer will be arrested that afternoon. The consumer cannot be arrested and jailed for failure to pay a consumer debt.
(Consumer rights and debt collection - An explanation of consumer rights and debt collections. http://www.essortment.com/articles/rights-and-collections_4031.htm)
Another popular searched subject covers collection agencies like Molaer, Bilkish, Enzi, Arteche etc. which are define as:
Debt collectors, who work on commission, may be highly motivated to convince debtors to pay the debt, often to the point that they are threatening or abusive to the debtors.
http://en.wikipedia.org/wiki/Collection_agency
Here are the details :
1.RA 8484 – unless you faked your CC, you need not panic.
2.Dubai - wala tayong pakialam sa civil laws nila and vice versa. Puede
doon 5 asawa. Dito, hinde. See the difference?
3.BP 22 /ChinaTrust – No jail. The judge will issue a bench warrant
only IF you do not attend when invited.
4.Kulong/Warrant of Arrest/HDO – Debt is a civil case ; These are only
applicable for criminal cases
Monday, April 12, 2010
Dubai
Dubai World sent shockwaves across financial markets last year when it said it would not be able to repay its debts on time and asked for a six-month freeze on debt payments.
Saturday, April 3, 2010
My Name Is Sue
Hello there.My name is Sue.
Some people drop my name to intimidate.
But others are really afraid of me.
Like a curse, maybe?
Oh, if only they knew....
I am not what they say I am.
Why not try to know me better?
You see, I am really nice, just often misinterpreted.
If fact, by knowing me better, you will have that
peace of mind that you have been desperately wanting .
Now,you know who I really am?
Saturday, March 27, 2010
Raison d'être
I am so thankful to the Lord I have found this site!!!This really is a great relief and a wonderful blessing to me.
...was able to pay consistently for half a year until I got pregnant. forced to resign ...during my 1st trimester because I had hemorrhage and was advised complete bed rest.
When the bank called, I tried to explain my situation and asked for consideration ....Still they demanded payment and sent someone to my house to check if im still residing here......Because of this I got hospitalized and had premature labor when I was 8th mo. pregnant.
They even called me when I was already in the ER.
This is an answered prayer because I had been fervently praying about my financial problem for a long time.I can now sleep soundly at night and just concentrate on taking good care of my baby boy whom my husband and I had been waiting for 5 years.
Thank you very much BANKER..May God shower you w/ blessings a thousandfold for helping and enlightening people like me..THANK YOU!!!
Lauren
Thursday, January 14, 2010 6:53:00 PM GMT+08:00
Posted at "The Unwanted King" chapter
----------
Hello banker,
To be perfectly honest, I'm in tears while I compose this email. I suppose it's a combination of fear, relief, anxiety and panic. But I thank the Lord that I came across your blog.
I have started reading your blogs and I find some relief from it, but due to the nature of my disease, I cannot find long-lasting relief. I suffer from Anxiety Disorder and I just recently recovered from Clinical Depression din. I have to say that my credit card paranoia is making me really ill.
Ruth's e-mail
Wed, Mar 3, 2010 at 2:34 PM
Monday, March 22, 2010
THE ALBERTA POST-WAR RECONSTRUCTION COMMITTEE
SUBCOMMITTEE FINANCE (March, 1945)
Part II~ THE MONETARY SYSTEM IN UNIVERSAL USE
6. VELOCITY OF CIRCULATION
It is generally assumed that the purchasing power of money
is increased or decreased by its velocity of circulation. However,
this theory will not bear examination in the light of the facts regarding
the issue and withdrawal of money under the established system.
For purposes of analysis the following simple illustration of
the velocity of circulation theory will suffice:
A wage-earner A. uses a $10 bill of his income to buy two
pairs of shoes from a shoe merchant B., who immediately goes into the
adjoining store and spends the $10 to purchase some shirts from C.,
C in turn immediately goes across the street to grocer D. and buys
some provisions costing $10, grocer D. then takes the $10 bill across
to the local garage E., to buy some gasoline and oil.
The contention is that the $10 bill provided purchasing
power to the extent of $40 during the day by virtue of its "velocity of
circulation" in enabling $40 worth of goods to be purchased by consumers.
On the face of it this would appear to be the case, but on examination
it will be found to be a complete fallacy.
Because all money issued creates a debt of the corresponding
amount at its source of issue, for all practical purposes merchants
B., C., D., and E. can be assumed to be operating on credit loans
from their banks with some "savings" invested in their stock.
The proceeds of every sale they make can be divided into three
parts: (1) repayment of a bank loan before a new line of credit can
be obtained to replace stock, (2) payment of operating costs and
(3) net profit- i.e. personal income for services. Suppose that in
each case B.,C., D., and E. work on a 15% net profit. From each
purchase amounting to $10 they would be obliged to set aside - say,
$8.50 repayment of their bank loans for replacement of stock and overhead
costs, and only $1.50 as personal income.This is likewise true of C. and D. Therefore, by spending the $10 both of them created a liability against their future purchasing power.
When A. obtained the $10: in wages there was against it a
corresponding cost in the prices of goods coming on the market. This
liability must be kept in mind.
On buying the two pairs of shoes from B., A. surrendered his
right to $10 purchasing power and B. acquired the right to $1.50 of
this, the balance going for the repayment of his bank loan and cancellation
of the money as shown previously. (If he was operating on his
own capital it would make no difference, for the $8.50 would have to
go to the replacement of working capital with the same result.)
If B. does not repay his bank loan, but spends the whole $10,
he will have a liability of $8.50 outstading which will constitute
a debt against future purchasing power. In other words he will have
to sell over $50 worth of goods without getting any portion of it for
his own use in order to make good the deficit.
Thus while it is true that in the example quoted ,the $10
bill resulted in $40 worth of goods reaching consumers, there was
created a trail of debts against their future purchasing power amounting
to $10 (the liability against the original issue of the money) plus
$8.50 (B.'s undischarged liability) plus $8.5O (C.'s undischarged
liability) plus $8.50 (D.'s undischarged liability)- making a total
of $35.50. Suppose E. now meets his obligations of $8.S0, he retains
$1.50 as his net profit--:ie.,as purchasing power.
It will be evident that the effect is exactly the same as
if A. bought gasoline, etc., from E., and B. and C. and D had obtained
goods from each other "on time", pledging their future purchasing
power.
The so-called "velocity of circulation" did not incredase purchasing power at all.
The fallacy in the theory lies in the incorrect assumption that money "circulates",wheras actually it is issued against production, and withdrawn as purchasing power as the goods are bought for consumption.
Part II~ THE MONETARY SYSTEM IN UNIVERSAL USE
6. VELOCITY OF CIRCULATION
It is generally assumed that the purchasing power of money
is increased or decreased by its velocity of circulation. However,
this theory will not bear examination in the light of the facts regarding
the issue and withdrawal of money under the established system.
For purposes of analysis the following simple illustration of
the velocity of circulation theory will suffice:
A wage-earner A. uses a $10 bill of his income to buy two
pairs of shoes from a shoe merchant B., who immediately goes into the
adjoining store and spends the $10 to purchase some shirts from C.,
C in turn immediately goes across the street to grocer D. and buys
some provisions costing $10, grocer D. then takes the $10 bill across
to the local garage E., to buy some gasoline and oil.
The contention is that the $10 bill provided purchasing
power to the extent of $40 during the day by virtue of its "velocity of
circulation" in enabling $40 worth of goods to be purchased by consumers.
On the face of it this would appear to be the case, but on examination
it will be found to be a complete fallacy.
Because all money issued creates a debt of the corresponding
amount at its source of issue, for all practical purposes merchants
B., C., D., and E. can be assumed to be operating on credit loans
from their banks with some "savings" invested in their stock.
The proceeds of every sale they make can be divided into three
parts: (1) repayment of a bank loan before a new line of credit can
be obtained to replace stock, (2) payment of operating costs and
(3) net profit- i.e. personal income for services. Suppose that in
each case B.,C., D., and E. work on a 15% net profit. From each
purchase amounting to $10 they would be obliged to set aside - say,
$8.50 repayment of their bank loans for replacement of stock and overhead
costs, and only $1.50 as personal income.This is likewise true of C. and D. Therefore, by spending the $10 both of them created a liability against their future purchasing power.
When A. obtained the $10: in wages there was against it a
corresponding cost in the prices of goods coming on the market. This
liability must be kept in mind.
On buying the two pairs of shoes from B., A. surrendered his
right to $10 purchasing power and B. acquired the right to $1.50 of
this, the balance going for the repayment of his bank loan and cancellation
of the money as shown previously. (If he was operating on his
own capital it would make no difference, for the $8.50 would have to
go to the replacement of working capital with the same result.)
If B. does not repay his bank loan, but spends the whole $10,
he will have a liability of $8.50 outstading which will constitute
a debt against future purchasing power. In other words he will have
to sell over $50 worth of goods without getting any portion of it for
his own use in order to make good the deficit.
Thus while it is true that in the example quoted ,the $10
bill resulted in $40 worth of goods reaching consumers, there was
created a trail of debts against their future purchasing power amounting
to $10 (the liability against the original issue of the money) plus
$8.50 (B.'s undischarged liability) plus $8.5O (C.'s undischarged
liability) plus $8.50 (D.'s undischarged liability)- making a total
of $35.50. Suppose E. now meets his obligations of $8.S0, he retains
$1.50 as his net profit--:ie.,as purchasing power.
It will be evident that the effect is exactly the same as
if A. bought gasoline, etc., from E., and B. and C. and D had obtained
goods from each other "on time", pledging their future purchasing
power.
The so-called "velocity of circulation" did not incredase purchasing power at all.
The fallacy in the theory lies in the incorrect assumption that money "circulates",wheras actually it is issued against production, and withdrawn as purchasing power as the goods are bought for consumption.
Saturday, March 20, 2010
Tatay, Ano Trabaho Mo?
Father : Anak, collector ako.
Anak : ng ano po?
Father : Credit Card debts
Anak : Ah... yung nambabastos ng mga taong may utang?
Father :( silence )
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