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suave unityderrick : Im glad i came across your page

THE SALTY RANT : Because of this video, I've never paid Predatory Credit Collectors.

Jason Barefoot : Why was this video recommended to me? Youtube's calling me out or something lol.

Brian D : God Bless your Soul. Debt has weighed down my heart. You have given me inspiration .

diversity2 : thanks

Chicago Street TV : luv that Chicago downtown skyline

Cherokeeman : Some of you are calling people deadbeats for not paying their bills. Consider these facts. 1. Banks are throwing credit at as many people as they can, in as many forms as they can. They are gambling that each loan will be paid, even though the money you borrowed does not yet exist. See #2. 2. The Federal Reserve Bank rules extend to it's member banks. Banks do not have the money in reserves they are loaning you. They are creating it out of thin air with a process called fractional reserve lending. Once you sign the promissory note, it becomes an asset on their ledger. This newly created asset is the instrument that the treasury uses to print the new money from. The money did not exist until you signed the note. 3. With so much easy credit available, it is a given that people will over extend themselves or in many cases, experience financial hardships which prevent repayment. The bank rules in conjunction with federal law, allow for a reset through bankruptcy. Bankruptcy is perfectly legal and legitimate. So why do we have such a law that allows people to walk away from their debt and start over? Because our constitution prohibits prison time for indebtedness. Half the country would be in prison, and no one would be borrowing money. If there was no reset system, the banks would lose their ability to create money out of nothing, because so many people would be unable to ever borrow ever again. This hurts the banks as much as the borrower. So the banks want people to be able to borrow again, but they have to slap your peepee first by damaging your credit worthiness for a period of time. 4. The Federal Reserve Act of 1913 violates the constitutional mandate that congress coin our money and sets the weights and balances based on gold and silver. The constitution cannot be modified by a congressional vote or a proposed Act or Bill. It requires a constitutional convention. The Federal Reserve Act was written by the bankers themselves and passed with paid off politicians and a paid off Presidential candidate (Woodrow Wilson) who signed it into de facto law. The Federal Reserve Act and it's rules are designed so the privately owned "bank of last resort" controls our nations money supply, and solidifies them as the top bank in the nation, which all other banks must abide by their rules. It is a large ponzi scheme, and every lawyer who becomes a congressman knows it, and they are playing the game of get rich and ignore that our constitution is being grossly ignored. 5. In summary, the banks and politicians are getting very wealthy from our debt based monetary system, and the whole system is rigged to squeeze the lifeblood out of as many people as possible in the form of new loans and interest, which are all created by simply signing our names to promissory notes, essentially creating money for the banks out of thin air, and we become debt slaves, owing our future earnings and production to them as well.

GUNSnSTUFF : How they going to harass you over the phone if you can't afford the phone bill?

Anne : So what does ths mean? If the company didnt keep it and sent it to a collections agency, the company has already written it off??? So Im good then I will just ignore the calls

Rob Simmons : The problem with collections, isn't phone calls from collectors. The problem is the collection item on your credit report. Dodging collectors via phone won't do a THING for keeping the debt from your credit report. it's estimated 80% of the population has something on their report which could be considered erroneous-- you DO NOT have to admit to a debt for it to appear on your credit report. In this video, the presenter advises not to pay the collection. This is correct. Unless you are able to negotiate REMOVAL of the debt from your credit report upon payment, and get the agreement writing, DO NOT PAY IT. This is not a question of morality. The plain and simple fact, is that payment of a collection resets the "DLA" (date of last action), to the present date. In turn, this will cause your credit score to drop. You read that correctly; paying a collection will drop your credit score. The longer the collection debt has aged/sat untouched on your report, the greater the impact, when the DLA is reset. So, if you're having trouble getting financing for a mortgage, car, etc., the very best thing you can do, is work with a reputable credit counseling agency...preferably with one affiliated with a law firm. Fxing credit is a complex labyrinth of processes. Trying to fix it yourself, is like going into court without a lawyer. My advice is to pay the $300-$400, and get professional assistance. This is important: you can get the assistance you need, with a skilled and reputable agency for about $100/mo. Most people can get the results they need in about 4 months. There is no magic bullet in credit repair, and you'll have to follow the advice and processes you are provided. You may even have to pay the debts claimed. The higher your credit score, the less you'll pay in interest rates and other associated costs with loans, such as mortgages. This can amount to THOUSANDS of dollars in savings....which much MUCH more than the few hundred dollars getting professional assistance will cost.

Tremain Hayhoe : This is the most helpful video I've ever seen in my entire life

helookalikaman79 : Many years ago we were called by an collection agency saying we owed 22 dollars on a landline telephone account. I told them the account was never closed and our account is current. They still claimed it was owed on our old number again the account was never terminated, the only thing that changed was the telephone number. They love to argue and wouldn't back down, so I called the telephone provider they went back 5 years and could NOT find any amount unpaid and certainly didn't send anything to collections. I told the collection agency that the telephone company said there was NO debt to collect on, and the information on who they could contact at the telephone company to correct the issue. They refused and still wanted their 11 bucks to settle the collection account. I told them where they could put their collection account.  I did some research and found the statue of limitations here. The debt was allegedly sent to collection 5 years ago, the statue limits it to 4 years from the last date the (collection) account received any payments. Had I paid the 11 dollars the clock would have restarted. I tell them they are outside the collection window on an account that doesn't exist... they kept calling so I sent them a cease and desist letter not one call since.

Dave N : This man is right - completely legit

Jesus Velazquez : Sounds very much like a marketing scheme in this video for Buildworth Strategies and here's why. He clearly says that admitting to the debt is enough to nail you with the obligation. So isn't that what the credit repairing company like BWS is going to do? For those who don't know, credit repair agencies do what you would do which is to contact debtors or collection agencies on your behalf to haggle essentially admitting your debt liability. Now you are stuck paying the collector/debt and the credit repair co. Aside from that I agree with most other info he stated.

Randy Parsons : That's the big surprise to a lot of people, that paying it off doesn't really help your score much if at all. The strange thing is you are morally obligated to pay someone, but are you obligated to pay the party that buys your debt? Keep in mind that the original lender now has absolutely nothing to do with you. They don't know or care if you pay it. Also most lending is predatory lending with a lot of hidden fine print and crazy high interest rates.

solen 1 : Thank you for the advice. Medical and college isn't going anywhere though lol

Erica Polk : Thank you so much for this!!!

koolmanlou : I'm glad you have posted this. Yes enlighten the masses. The credit card companies, phone companies, etc. They write off their debt and then sell it off to debt collectors who are only trying to capitalize on bad loans. It's the uninformed persons who feel vulnerable and pay then thinking they're debt troubles have been resolved. Just know when you are having trouble paying off your credit cards. Your best bet is to call your credit card company and work out a payment plan with them.

Simbecile : Creditors can sue you and garnish your wages. If you don't show up to court, they will win by default.

Bill Faulkner : Hi Ray! Thank you very much for this information. This is the kind of information most people in-the-know do not share publicly. I commend you for wanting to help others Ray.

Deja Osbourne : I like your speeding ticket example because i got a speeding ticket and everyone told me to go pay it but i wanted to fight it and convinced myself i would get it dismissed and when I went to court my officer never showed up so they dismissed it. that would have cost me over $400. I was so ready to fight that cuz i had a sick passenger in the car which is why i was accidentally speeding and that asscop didn't even care and took 30 fucking minutes to write me that damn ticket with my friend sitting on the curb super sick. i know this doesnt relate to credit but whatever :D

Lesley Willis : I had a very small school loan($250)It was going to disappear after 7 yrs which is this year. I never paid it but the school paid it. The company told me they paid it so now I have a negative remark on my credit and the lady told me it’s going to stay on there another 7 yrs because I paid it (which I didn’t) while it was in collections.What do I do about that? I also have a negative for another amount that I didn’t even take out that was sold. It’s listed as charged off. I think I’m going to hire a credit repair company though.

shanty Kganyago : His 100% right. In November 2018 I went for consultation well my medical aid does not cover for most doctors and every time I'll ask the admin lady to first check if my medical aid will cover this consultation, she did and she said it will go through. 3 months later I received an email stating that my medical aid did not cover I didn't reply followed by so many phone calls from debt collectors. I told then I won't pay because it was not my fault the admin lady told me that the bill will go through. Mind you they added 200ZAR on top of the 440ZAR(consultation fee). 6 months later I paid 200ZAR into the doctors account, the debt collectors never stopped calling that's when I told them to stop calling me ill pay the balance month end and I won't use their banking details but the doctors banking details, the lady who called me insisted that I should use their account for payment because I was already handed over. What I did I deposited the balance on the doctors account and guess what I never head anything from them. I personally call debt collectors underground scammers 😒😒

make peace : Ur the best. I bet all the thumbs down you have on this video must be collection employee's or debt collectors. Ur a life saver.

MacAutomationTips : Just want to add, though this solution is correct, it's also best to stay away from using credit cards especially if you don't know how to properly budget, and you're living above your means. After you get out of debt, learn to how to stay out of debt. Don't allow other ppl to make money off you.

Flutter Bize : Does this apply to old medical/hospital bills? I now have Medicaid thank the Lord but when the charges accumulated (long time ago and yet every time I go to the dr they want money on that balance - (which I just don't have). I have 2 very old department store debts which I did not apply for without coercion from the cashier, and have never paid. Yes shame on me. I only use cash these days for anything I purchase exception being medical visits because I have thank the Lord been blessed with the help of Medicaid. I would never admit to anyone on the phone who I am - that's nuts. Too many scammers in our world today. BTW - thank you. Almost forgot I do have a debt for a substantial dental procedure. Never responded to them I think they are overstating what they say I owe but I'm not paying it. I've already been out thousands of dollars to the actual dental provider. - please do make more videos. I just subscribed!! I appreciate the truth that no-one ever tells you! THANK YOU!

Brad Wilson : This is the absolute worst advice you could follow... I beg each of you to not follow this advice...

Musicmann1022 : Good advice about paying a bill past five years. You reactivate, and they downgrade your credit. SMH.

Mark Camaro : Are you saying that if a debt collector calls you and says are you Joe Doe and you say yes is the same as admitting you owe the debt?

NoProGoPronto : STOP using credit cards! STOP buying junk we don't need! CASH IS KING! No one needs this stress in their lives. This is how we put those folks out of business 👍🏽

Deborah Hopper : Good info, Thank you!!

ericka lucas : thank you, this helps alot!

Lakesha Edwards : So what if its student loans that's gone to collections? Can u get those removed from your credit if its been sent to collections?

PESACH SHEBREW2 : Great information.

Nola Girl : Wow!This was so helpful. So glad I came across your video. I can tell that you are very smart and very well spoken. Great video!

Randy Jackson : You are so right .. Suzy Orman has commented on this as well . Once it is turned into collections the damage is already done . Even if you pay it off the damage is done !

Jackie Clemons : thank you so much for this video you should had some very very important information that is going to help a lot of people I will help to share your video and again thanks for the info I'll be looking for more videos

Kristofer Milhauser : Hehe I am the only one in the world with my name and dammit I already said I'm me.can I do anything still?

ProjectAKO17 : This guy will either get you sued in court or put in debtors prison (yes it's back, research it). Do not take his advice, unless you have claimed some type of bankruptcy.

Cleto La : much appreacheated

BlessedByHim : Thank you man wowww😢

Forever Lonely : What about if pseg which is like fp&l in Florida but in Nj. I can’t get an apartment until it’s off my credit. My roommates didn’t pay the last bill. Now I have been getting calls and finally just wanted to get this paid so I Can get a new place . What do I do if I’ve said yes I was me and wanted to pay off the debt? Normally I don’t tell them but I was told if I don’t get that off my credit I won’t get my new place. Please help with advice.

Aimster B : I signed up for a "budgetnista" who gives a wealth of info on credit, the stock market, etc. She advised that you should pay the creditor. But first, you have to verify if they are with the company you contracted with or if they are an outside company. If with the contracted company, then pay the full amount but if with the outside company, negotiate the rate. I don't like that info and I want to go with your advice, however, I'm not for sure of the steps to take because I had a creditor call me but I never acknowledged that it was me. They never sent a bill but yet I have a charge on a credit report from them. What should I do?

Juan Bishaw : There are different types of collection agencies depends on what state u are in. The best way is to do your research before interacting with any agency.

JT Michaelson : Great video. But you forgot one thing. Most collection agencies have these "detectives", if you will, that track down your social security number. They then find you, give you a chance to pay them through contacting you and whether or not you ever answer the phone or admit to the debt or not, they have you based on your social security number. They then get a judgment against you and you go to court and the judge, like the one here in Tennessee did to my wife, forces you to make a commitment to the collectors. My wife pays $20 a month (of a $750 debt to Verizon) and the collector had to agree to it. However, they got her despite ever talking on the phone, admitting anything to anyone about any debt whatsoever. And they got us by investigating her whereabouts via her social security number that was in the files they purchased from Verizon. We went to court and even DENIED the debt and the collector had her social security number on file saying it was her and the debt is owed and the judge agreed. BTW: We were advised by the judge to make a commitment deal to the collectors or her wages were going to be garnished. The judge would have then assessed the garnishments based on her wages and deduct her wages on a percentage basis. What this guy says is true in many cases, but not all. Once the courts get involved it's over. And on that day we appeared in court there were another 25 cases waiting to be heard, including a 75 year old woman on oxygen and a wheelchair. These scumbag collector's and their lawyers will do whatever they can to get your money and they can do it legally in court. And once the courts are involved then it becomes a totally different debt. One final thought. We were actually summoned to appear in court by a local Sheriff's deputy who knocked on our door. Once we were summoned we had no choice to appear or we would have lost the case by default, which would have meant the judge would then garnish her wages accordingly. Our only defense would have been to make an appeal to the courts which doesn't always work in our favor, mostly because we skipped court the first time. Good luck with your debts. It's tough out there so be careful what you owe.

Carolyn Jackson : Thank you 😘

Christopher Phillips : Go noles...great video. Still love ya. CANES #2. NOLES ROCK.

Matt Scott : if this clown said never cross the road would you believe him, companies themselves would go under if people didn't pay collection agencies

Griffin Mathers : You might be a criminal. Are you saying we should all buy things we can't afford, then not pay for it? Why don't you work at the credit fixing place any more?

M John 3:16 : Great video! Thank you for sharing.