Update - DEBTORS REVOLT BEGINS NOW!

311,000 view count...after it was basically stopped over the week end

The more I think about this, the more I think this has the potential to be really powerful.

If a significant number of people start to follow her lead, and the news gets out that a significant number of people are following her lead, it will snowball, they will be unstoppable, and the system will fall apart.

The same technique could be apllied in numerous other situations. Certain kinds of taxation, for example, could be stopped dead by massed resistance.

The system that government uses to enforce its orders depends on only a tiny fraction of people resisting. If any significant number resist, it breaks down. Only the military has any hope of dealing with mass movements. And then you have civil war, so government is not going to reach for that lever too readily.

I look forward to seeing how this plays out. I anticipate a counter-attack of some kind.

ask for a payoff and after you get the payoff, dispute the debt and ask them to prove it, they never can, the default them.
This is what Im doing, I also did a foia to the bereau of public debt under the treasury to find out what my share is, they never got back to me.

is gutsy. Bravo! Sending this out.

They'll just laugh as they take all your physical property. Give them the fiat dollars.

Their in on the "selling-out of America". They've supported "illegal aliens" from way back. Well, don't do business with 'em is the simple cure here, START NOW!

~peace~

~

Can someone embed the new video?

http://www.youtube.com/watch?v=cNHd-GBZGQo&feature=player_em...

Ann Minch Triumphs In Credit Card Fight (VIDEO)

Two weeks ago, Ann Minch of Red Bluff, Calif. announced in a YouTube video that she'd launched a one-woman "Debtors' Revolt" and would refuse to pay off her credit card balance after an unfair interest-rate hike.

Now, after her video made a huge splash, Bank of America has agreed to reduce her rate ...

http://www.huffingtonpost.com/2009/09/21/ann-minch-triumphs-...

I understand that this woman is upset, but it boggles my mind how she is willing to sacrifice her personal financial future "for the cause."

CreditLaw.com posted a response on it's blog that highlights some simple steps that she can take to resolve the situation and walk away. In essence giving BofA the finger.

For anyone interested the response can be found here: Debtor's Revolt: But at What Cost?.

some people max out their credit cards buying gold and silver, and then they tell the credit card companies to take a hike.

My wife and I were both in the same boat, and frame of mind that you are in now. "Kudos" on bringing it to the people. Hopefully more civil disobeyers will step up to the plate. We must hit them where it counts; right in the wallet!

In Liberty,

DPMJ

over 213,000 now

look for website .........soon

Normally credit interest is higher when they tighten but we are in an uncharted economy ..because Credit is no longer in demand , ninterest rates remain low..It is the credit card interest that was already on the books that is being incresed...You past debtors will pay for your abuses is the theory..Stagflation is here & only failed gov't policy can bail out the FED. RES....The value of notes would collapse if Healthcare does not pass...You will have healthcare come h or high water..You will get ID come h or high water..Glenn Beck has the wave : NEW REPUBLIC.
Won't you be a 912er ?
Where did these people go to school ?
Good people do Good deeds
Good people make it happen

An interest rate is the cost of borrowed money. When credit is tight interest rates rise. This is what happens in a free market. A lack of credit creates an incentive to save which increases the availability of credit. That is the natural balance that is broken when interest rates are set to rates they shouldn't be. For example, the Federal Reserve's manipulation of interest rates which caused a housing bubble.

It sucks, but interest rates should be high right now. Otherwise we are just re-inflating a bubble.

on same page as this vid...must see it also

The only time in life a person should use credit is when they are paying for college or buying a home. Both must be done wisely.
For everything else - budget.

Interest and debt collectors will enslave her.

Cut up your credit cards.

(Maxed Out is a good documentary I use it to teach my students in Economics class)
http://www.youtube.com/watch?v=GsrA6AfS8UE&feature=related

Think what you do when you run in debt; you give to another power over your liberty.~Benjamin Franklin

The following parable comes to mind:

"Therefore, the kingdom of heaven is like a king who wanted to settle accounts with his servants. As he began the settlement, a man who owed him ten thousand talents was brought to him. Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt.

The servant fell on his knees before him. 'Be patient with me,' he begged, 'and I will pay back everything.' The servant's master took pity on him, canceled the debt and let him go.

But when that servant went out, he found one of his fellow servants who owed him a hundred denarii. He grabbed him and began to choke him. 'Pay back what you owe me!' he demanded.

His fellow servant fell to his knees and begged him, 'Be patient with me, and I will pay you back.'

But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. When the other servants saw what had happened, they were greatly distressed and went and told their master everything that had happened.

Then the master called the servant in. 'You wicked servant,' he said, 'I canceled all that debt of yours because you begged me to. Shouldn't you have had mercy on your fellow servant just as I had on you?' In anger his master turned him over to the jailers to be tortured, until he should pay back all he owed.

This is how my heavenly Father will treat each of you unless you forgive your brother from your heart." -- Jesus of Nazareth

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"All the brave soldiers that cannot get older, been askin' after you." -- Crosby, Stills, and Nash

She was paying her creditors and has good credit.
But when they raised her interest to 30% for no reason she had enough.
For those people who cave in and pay that interest are fools.
For those that say that the rate is what the market dictates is not true.
People are not spending or borrowing in droves.
So demand is way way way down.
Interest rates should be no more than 3% when they get what they lend us at almost 0% and they would still make a nice profit.
But some fools will get kicked and spat on and never say enough is enough.
This lady is a champ and I applaud her!

I disagree that you don't have a problem, if your carrying a balance you need to ask yourself why. Don't be crying about your rate to us Dailypaulers.
Cut up the card! If you don't like the terms then don't accept the card.
They are just trying to make money to pay back their loans too, no one forces you to use their credit facility. Quit your bitchin and quit using the product. Pay it off asap.Waaah!
Or let's march on Washington?

30%, not bad these days...
but you can get a better rate from a loan shark? Then do it and close your account according to the terms you signed up for. Keep your word, who cares about your credit, keep your word. For anyone out there that is a business owner, ever leant money to someone, or ever been owed something by a person or a company, this behavior should appaul you.

Most small ticket, commercial credit loans are currently being booked between 10% and 35% right now, people are willingly accepting them because that is what the market is dictating, 30% isn't the end of the world, I am assuming this person just doesn't want to pay her CC anymore.

Again, she has access to loan sharks for cheaper money, why doesn't she just close her credit card account? They gave her ample warning, if you don't like it, get out at the current rate of what (24%)....

trust me, the extra 6% isn't making that much of a difference. She doesn't want to pay her bills and is using terrible arguments to back it up

I will send you several effective letters, to send to them

They want me to pay something I cannot pay right now. They are threatening to take me to court. Won't they just send it to collections instead?
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sdrawkcab gnihtyreve od deF eht & tnemrevog ehT

I'd like to have the interest rate for all the banks that took TARP money to skyrocket to 30%.

Anyway

She states that she does not have a budget problem. If you have credit card debt, you have a budget problem.

All she has to do is opt out and it stays at it's previous rate, she just can't use it anymore.

Meanwhile at 30% interest her principal will be skyrocketing. It is a complete scam though... SOB's

There are some problems I see with what she is saying and plans on doing.

1) She talks about her interest rate going up. The bank is required by law to give notice of increases in rate with an option to opt out. I know because BofA sent a notice to me.

I contacted BofA to see about standing on my great credit rating, payment history, and number of accounts I have had with them over the years. I even threatened to pay it off with a lower offer from another bank, so they would not make another penny off of me. They wouldn't do anything for me, so I opted out. Now, I cannot use my card or the rate kicks in, but my current rate is the same as it was when I received the notice. As soon I hung up the phone with them, I started planning how I was going to pay that card off (that was 6 months ago). I will have it paid off this month. It took two and a half months to pay it back after careful financial planning, while still paying all my other bills and debts.

2) She incurred the originating debt, so they will come after her. Also, she is so small in the scheme of things that here little revolt will go unnoticed.

3) They will not take her to court, so she can forget about the over-flowing court system. They will take her to arbitration as the terms and conditions state. Arbitration agreements are in place between the banks and the arbitrators, so that they can utilize their services. It is extremely rare for a customer to win an arbitration case.

Anyway, although I admire her willingness to fight, and I wish her luck, it will go nowhere but bad for her. Sorry.

Amex sold my debt to a collections agency.. debt agency harrased me for months then Amex starts calling trying to settle.. How is tha possible? What did Amex do? rebuy the debt from the agency?

is exactly what happened to me. I had been with them for years and years. Always paing on time with the exception of a few brain farts. Well they jacked me to 30 percent and refused to lower it. I told them if they did not lower it back to the origional amount I signed up for I will stop paying. They refused to budge 1 percent. So I stopped paying this bill when I could pay it in full. They pissed me off so bad. I have been writing them back and forth on this issue, all letters they send are unsigned. Yes it did screw up my credit but it was the principal of the matter. BOA go to hell

is a local credit union better than a bank. I've been torn about taking my money out or leaving it in. It isn't a lot but it is mine. Any advise?

I made the debt with them, I owed them, and I was lucky enough to be in a position to get out from under their scheme. What really ticked me off about BoA is that they suddenly decided to raise the rate of cash advances to 25%. That's those slick write-yourself-a-go-on-vacation-or-whatever check they send you all the time. 0% for six months or whatever their overture is at the time but the trick is they don't apply the monthly payment to that portion of the total debt so eventually you end up with the usury rate. I called them up, let them knew I was p.o.'d about their tactics and offered them a deal. In view of their financial situation, would they prefer that I stretch out the payments for the next ten years or would they prefer a cash settlement? They wouldn't budge but I went ahead and paid off the card anyway and it was a big one. Maybe it was a dumb thing to do but I'm a grandpa now too and it's cash only for me from here on out if ever I can help it. I'll never have anything to do with Bilk of America again anyway. Credit cards are modern day slavery. Live cash and save in gold or silver. I don't know if the woman in this video is doing the smart thing or not but I wish her well.

Good luck passing your background check (rectal exam) when you apply for your next job. Other than that, I hope you burned them good.

Good for you girl! BOA is totally evil. My boyfriend just came home and told me his story with them tonight. I told him, he needs to watch this video of yours. BOA is way over charging him fees every month, i.e. over $300! He spoke to the manager (out of state) and said it was handled. Then he gets this on his statement.

I have a small business and have to deal with credit cards from clients. So I can't seem to get away from them now. I pay for everything in cash. My business has 2 credit cards which were used to build my studio. I hope to have one of them paid off by the end of year. Chase is the other card with a larger balance. They are just as evil as BOA. They changed the terms on me. I was pissed. They wouldn't do anything about it. They seem to go after the people who are making their payments to squeeze more out of us.

“Paper money eventually returns to its intrinsic value - zero”. Voltaire-1729
www.4HUTS.com

Geez, ever wonder why credit card interest rates are high? It's for people that can't control their spending and get in debt. Realize it's to discourage them from spending more.

Yeah, yeah....hardworking people, blah, blah, blah. Go on debtors- revolt all you want once you've paid your debt off.

There are some advantages of using credit cards- disputing purchases, returning purchases. Buying stuff over the web.

I'm suspicious of BOA (constrictor) as I use Quicken which always has the BOA logo pop up when I first start the program. Didn't us tax payers bail those bums out? I guess Intuit got stuck with those worthless eaters.

The day I finally understood how our money system works was the last day I have had anything to do the with the "credit" system. I handle everything with cash and use the bank only to turn checks into cash.

I stopped paying on all my credit cards and have no regrets about it. I have bad credit but have no worries about it.

Credit cards are, as far as I know, unsecured debt!

for others.

BOA ... I am with you sister!!

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"All the brave soldiers that cannot get older, been askin' after you." -- Crosby, Stills, and Nash

God bless you young Lady and good luck. One less Sheeple to be tossed into the meat grinder.

I used to have a card with them. I stopped using it about ten years ago because of the way they did business. They continue to send me a card, though I have not activated one in at least ten years. I don't know why they do it. I called them and told to cancel the account, but it has never happened.
I have managed to live my life without using credit very much at all and never do it unless I know I can pay it off immediately and it is absolutely an emergency. Or I am going to make a bundle on a deal and it's worth doing for a week or two. Then I'll use it. I would encourage everyone to find a way out of debt.

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I love my country
I am appalled by my government

Never buy on credit. If you don't have the money to pay for it, you shouldn't buy it. My grandpa still only pays cash for his vehicles - everything actually.

Nicely done.

Obama = O.ne B.ig A.ss M.istake A.merica

no problems since ;)

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"Those who make peaceful revolution impossible will make
violent revolution inevitable."
John F. Kennedy