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Miller11 · Jul 8, 2008, 06:31 PM

Is it legal for a credit card like HSBC which is a sears/kmart card to continue to call me numerous times a day and at 8 or 9pm at night.

Fr_Chuck · Jul 8, 2008, 06:32 PM

Until you write them and tell them not to call you again.

starfirefly · Jul 8, 2008, 06:32 PM

Yes they can call up to 9:30 pm, and its not considered harassment because you owe them money, I have seen people try and sue for harassment and they never win cause its considered as a follow up on getting their money, but you can still always try

TheCleaner · Jul 9, 2008, 04:38 AM

You can try to send a cease and desist telephone communications letter but they are the original creditor, they are not bonded to the FDCPA so they probably will keep calling, in the other hand sending out stuff like that over debt defaulted short time ago is asking for a lawsuit. In this cases the best option if you don't want to talk to them is caller ID and anonimous call blocking from your phone carrier

Carl.-

lmangileri · Jul 9, 2008, 04:54 AM

Have you thought about going through a credit counselor until you can manage bills better? If you go through a credit counselor and they still call you then you can refer them to your credit counselor. I did that a while back and all the calls stopped.

speedball1 · Jul 12, 2008, 05:52 AM

Originally Posted by Miller11

Is it legal for a credit card like HSBC which is a sears/kmart card to continue to call me numerous times a day and at 8 or 9pm at night.

Sure is! This is called, "collecting a delinquent account". Hey! You pay your bills like the rest of us and they get off your back. Simple as that!

farmgirlmo · Jul 12, 2008, 08:01 AM

Originally Posted by TheCleaner

You can try to send a cease and desist telephone communications letter but they are the original creditor, they are not bonded to the FDCPA so they probably wil keep calling, in the other hand sending out stuff like that over debt defaulted short time ago is asking for a lawsuit. In this cases the best option if you don't want to talk to them is caller ID and anonimous call blocking from your phone carrier

Carl.-

He is dead-on. FDCPA is the only thing that regulates debt collectors and their collection activities(and whatever state laws you may have) and original creditors aren't debt collectors.

I tried just to click agree... but I must spread the reputation.

progunr · Jul 12, 2008, 08:08 AM

I see so many questions like this.

There is one question that always comes to mind.

IF someone OWED you MONEY, and WAS NOT PAYING IT, how many times would YOU call them?

They want what you PROMISED to pay them.

I think it is a pretty basic concept to understand.

TheCleaner · Jul 12, 2008, 01:35 PM

Well, to be honest I must say that I don't give a dam about the little green things, smart people will listen regardless of the color if what I say makes sense dumb people are hard to help anyway. And about Progun what can I say, ovbiusly he is got another interest beyond helping people out, he is a debt collector and PAY, PAY and PAY again is the usual advise you get from him, I can do that too.

progunr · Jul 12, 2008, 01:49 PM

Originally Posted by TheCleaner

Well, to be honest I must say that I don't give a dam about the little green things, smart people will listen regardless of the color if what I say makes sense dumb people are hard to help anyway. And about Progun what can I say, ovbiusly he is got another interest beyond helping people out, he is a debt collector and PAY, PAY and PAY again is the usual advise you get from him, I can do that too.

It is nice to see that you are so proud of your ability to "help" people.

The fact that you have no concern for the "people" that gave them the money, or credit, to begin with, shows where your priorities fall.

Why don't you start some type of legislative effort to make the extension of credit illegal.

That way, there wouldn't be so many companies actually expecting people to pay back what they borrowed?

TheCleaner · Jul 12, 2008, 02:08 PM

It shoul be illegal, the economic system we have, that unlimited grow, unlimited expansion,fractional reserve system is going to send straight to hell the whole thing sooner or latter unless we change it, just will be not enough resources for everybody.

Anyway, until then the banks will keep taking away the wealth and hard work of the people in exchange of nothing tangible, just keeping numbers in a computer. Few wise people not paying back won't make a big difference

Did you ever create something from raw materials that other people can use, do you create goods out of your work or it is just speculation with what is already created by others?

Alty · Jul 12, 2008, 02:18 PM

TheCleaner, will you lend me 1 million dollars, I think it's a win win, I'd get the money, and you don't expect me to pay you back.

progunr · Jul 12, 2008, 02:28 PM

Originally Posted by TheCleaner

Anyway, until then the banks will keep taking away the wealth and hard work of the people in exchange of nothing tangible, just keeping numbers in a computer. few wise people not paying back won't make a big difference

"In exchange for nothing tangible, just keeping numbers in a computer"?

No wonder you think the way you do, it's not really money, it's just a number in a computer!

I see some intelligence in some of your posts, unfortunately this was not one of them.

What do you call the cash, or merchandise, these people got as a result of the extension of credit?

Nothing tangible?

You need to look up tangible in the dictionary.

You also don't understand the impact on the economy, that bad debt has either.

Oh, no I've never created something from raw materials, unless you count the number of business, that actually employee people, that my collection efforts kept from going under, because they couldn't collect the money they had loaned out to their consumers.

Or perhaps you could count the shed I built in my back yard?

I'm really not sure what point you are trying to make with that question.

TheCleaner · Jul 12, 2008, 03:23 PM

Shoot altenweg I don't have it, I'm only an engineer, I build things to keep it running I can't create money out of the thin air like a bank.

Only way I could lend you a million dollars is if I was a natural born especulator and I don't even know how to do that.

Progun, seems like most americans you don't really know where the money comes from,

Is created for the Federal reserve, a private institution since 1918 (I think) and controlled by the big banking trusts.

For every "Real" dollar the banks deposit in there they are allow to lend to the people 9 dollars they just make up the other 8 dollars on the books.

They charge to the people who produce the goods interest for those 8 dollars that never existed in the first place, it is only paper at that point, then the people back up those 8 dollas with the product of their work and give it back to them, then is real money, it can be deposited in the federal reserve and start the cycle all over agan growing bigger and bigger.

The tendency leads to the banks having or controlling at least 80% of the wealth and the destruction and waste of the land due to the unnecessary production and overpopulation needed just to feed those monsters. Sooner or latter is going to a crash.

progunr · Jul 12, 2008, 03:49 PM

OK.

I borrow $8000 to purchase a vehicle that is priced at $8000.

Help me out here.

The vehicle doesn't really cost $8000, it only costs $1600, since 80% is just money "on the books"?

So I didn't really borrow the $8000, I only borrowed $1600... since the other
$6400 was just "numbers in a computer"?

WOW!

Hmmmmmmmmmmmmmmmm

Alty · Jul 12, 2008, 03:51 PM

The Cleaner, I'll settle for $100,000.00 instead of the million.

TheCleaner · Jul 12, 2008, 04:10 PM

Still don't have it got to go down.

Yeah, you got it, the bank only paid 1600 but the moment that factory give you the car in exchage of the new money, those 6400 are backed up with something real, that is the point of origen of that new wealth, the people who made the car, then you keep working and pay the bank back the original 1600 plus all the new real money plus interest also in real money. The system deppends on the blind acceptance and ignorance of the average person.

Of course this is a simplyfication, it is more complex than that, it has to count the wear and life span of the goods... size of the market, commerce outside the banking system... among several other factors to calculate the real final profit. But in general lines that's it

Clever, uh?

Alty · Jul 12, 2008, 04:16 PM

$50,000.00 ?

ISneezeFunny · Jul 12, 2008, 04:32 PM

... TheCleaner...

... what the heck are you talking about? Do you seriously believe that's how the market works... or are you just starting up random "this country's going to hell" chats?

The bank doesn't allow loans up to 9x the amount. This isn't the soviet union before the fall of the berlin wall. The bank allows loans worth more than they actually have backed up, yes, that's true, but to say that if a bank held $100, they would allow loans up to $900 is simply an anarchist' mindset.

This is because banks actually believe that these people would pay it back, and some of these "wise people who just don't pay it back" is actually what's ruining the current economy.

TheCleaner · Jul 12, 2008, 04:43 PM

Sorry altenweg, I keep my savings in gold certificates and european shares, not a loan guy, I have some money invested in prosper and looks like I going to loose it... all because people like me talking too much on the internet and giving advise about how not to pay.

Well... Just the way it is...

So I done with the loan business, wasn't born for that.