IDEOLOGY IS KILLING AMERICA!
Posted on | August 5, 2011 | No Comments
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Banks Best Beware… § 9-619 & § 9-620 is here to save the day!!! Take a look gentle folk, lawyers and alike, please, I invite you to comment.
Posted on | February 3, 2011 | 2 Comments
For all you concerned citizens in search of retribution and the truth, take a gander at these two very important Uniform Commercial Code Articles ... § 9-619 & § 9-620 is here to save the day!!! Take a look gentle folk, lawyers and alike, please, I invite you to comment.
§ 9-619. TRANSFER OF RECORD OR LEGAL TITLE.
In this section, "transfer statement" means a record authenticated by a secured party stating:
(1) that the debtor has defaulted in connection with an obligation secured by specified collateral;
(2) that the secured party has exercised its post-default remedies with respect to the collateral;
(3) that, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and
(4) the name and mailing address of the secured party, debtor, and transferee.
(b) [Effect of transfer statement.]
A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:
(1) accept the transfer statement;
(2) promptly amend its records to reflect the transfer; and
(3) if applicable, issue a new appropriate certificate of title in the name of the transferee.
(c) [Transfer not a disposition; no relief of secured party's duties.]
A transfer of the record or legal title to collateral to a secured party under subsection (b) or otherwise is not of itself a disposition of collateral under this article and does not of itself relieve the secured party of its duties under this article.
§ 9-620. ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL SATISFACTION OF OBLIGATION; COMPULSORY DISPOSITION OF COLLATERAL.
(a) [Conditions to acceptance in satisfaction.]
Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if:
(1) the debtor consents to the acceptance under subsection (c);
(2) the secured party does not receive, within the time set forth in subsection (d), a notification of objection to the proposal authenticated by:
(A) a person to which the secured party was required to send a proposal under Section 9-621; or
(B) any other person, other than the debtor, holding an interest in the collateral subordinate to the security interest that is the subject of the proposal;
(3) if the collateral is consumer goods, the collateral is not in the possession of the debtor when the debtor consents to the acceptance; and
(4) subsection (e) does not require the secured party to dispose of the collateral or the debtor waives the requirement pursuant to Section 9-624.
(b) [Purported acceptance ineffective.]
A purported or apparent acceptance of collateral under this section is ineffective unless:
(1) the secured party consents to the acceptance in an authenticated record or sends a proposal to the debtor; and
(2) the conditions of subsection (a) are met.
For purposes of this section:
(1) a debtor consents to an acceptance of collateral in partial satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default; and
(2) a debtor consents to an acceptance of collateral in full satisfaction of the obligation it secures only if the debtor agrees to the terms of the acceptance in a record authenticated after default or the secured party:
(A) sends to the debtor after default a proposal that is unconditional or subject only to a condition that collateral not in the possession of the secured party be preserved or maintained;
(B) in the proposal, proposes to accept collateral in full satisfaction of the obligation it secures; and
(C) does not receive a notification of objection authenticated by the debtor within 20 days after the proposal is sent.
(d) [Effectiveness of notification.]
To be effective under subsection (a)(2), a notification of objection must be received by the secured party:
(1) in the case of a person to which the proposal was sent pursuant to Section 9-621, within 20 days after notification was sent to that person; and
(2) in other cases:
(A) within 20 days after the last notification was sent pursuant to Section 9-621; or
(B) if a notification was not sent, before the debtor consents to the acceptance under subsection (c).
(e) [Mandatory disposition of consumer goods.]
A secured party that has taken possession of collateral shall dispose of the collateral pursuant to Section 9-610 within the time specified in subsection (f) if:
(1) 60 percent of the cash price has been paid in the case of a purchase-money security interest in consumer goods; or
(2) 60 percent of the principal amount of the obligation secured has been paid in the case of a non-purchase-money security interest in consumer goods.
(f) [Compliance with mandatory disposition requirement.]
To comply with subsection (e), the secured party shall dispose of the collateral:
(1) within 90 days after taking possession; or
(2) within any longer period to which the debtor and all secondary obligors have agreed in an agreement to that effect entered into and authenticated after default.
(g) [No partial satisfaction in consumer transaction.]
In a consumer transaction, a secured party may not accept collateral in partial satisfaction of the obligation it secures.
Usurers = Economic Terrorists = Credit Card Companies
Posted on | December 8, 2010 | 1 Comment
Why haven’t you gotten angry citizens of this great country?
Credit card debt is tearing this country apart by every limb. Things are a mess. Large conglomerates have shipped our jobs overseas, the economy offers us little opportunities, job security doesn’t exist, we are losing our homes, our kids are not safe anymore, and those Credit Card Companies penalize us so much for being late we cannot pay back those penalized rates of 20-45%. Couldn’t you compare that to Mafia Loan Shark Interest Rates? The Credit Card Companies are criminal. America, wake up! How can we ever pay it all back?
How do we combat this atrocity and where do we go from here?
No, do not say a cave. We need to take up arms. I mean, call your congress people. Blog, respond to mine. Help me collect video testimonials. Credit Card Companies are the problem. We need to document and show the whole story, nothing but the truth. We are hurting boys and girls, and I don't see a light. How tough do they want to make it? We are US Citizens of this great country. Doesn't that mean anything anymore? Credit Card Companies are contributing a decline in progress and the annihilation of the future of our children. Do they have a legacy? No. The simple concept that we all hold dear is freedom. We have lost it. High rates of interest are the shackles. There is not one American you know that has not experienced credit card debt. Am I wrong? If you know someone, please tell me so I feel more optimistic. Debt is real, and our economy is muddled with it. The banks shuffle paper, and we pay them an unspecified amount of cash for it.
So here’s where we are.
In 2005, President Bush made it harder for us to file bankruptcy with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). In 2007, President Obama bails the banks out. Giving the banks a bailout, Mr. President, was not the solution. They should have failed. That influx of cash they received from the government gave them a position that dictated; the banks did not need to negotiate with us favorably. We had our chance to relieve society and fix the problem.
It is neither the issue of being Republican or Democrat, it is about our children.
Independent thought, not some ideology. Does it really matter what party we are in? It's about the financial system and how it affects the consumer. It is about the future of our children. While the wealthier get wealthier, for the first time in history, rich middle class are losing it all due to the lack of job security, industry saturation, debt, and the fluctuation of the market. Will our children have a job? How many professionals are out of work? How many blue collar jobs have gone overseas? It's a bleak picture, my friends. Legacy is about having a future for your children, and theirs to follow. This defines how wealthy you are. You may be rich but not necessarily wealthy. Only 1% of Americans participate in that wealthy club class, if that. The rest are either poor, middle class, or upper middle class. Legacy is enjoyed by a few who can provide for the generations beyond their lifespan. The banking industry is killing our chance to become wealthy. Do you care? You should.
So what causes the economic downturn?
Once the services and products are considered unaffordable, we are in trouble. There is no more flow. Asian philosophies have it right. Flow is key. The American economy is experiencing the worst flow in decades. Not even the rich are safe anymore. You can lose it all due to job loss, or the lack of clients, divorce, sickness... anything these days because the economy is so delicate. If your neighbor can't pay, then you can't pay. Get it? We need ratification, a complete overhaul in favor of the consumer. The banks are not helping, nor our government. Congress is asleep.
Why has our American Government allowed the banking industry to become so predatory?
The Citicards, Card Services, MBNA, Bank of America, Chase, and the Capital One’s, virtually all of them are guilty of predatory practices, the usurers, the contributors to the political machine have gone unchecked for too long. What's worse, they are protected by our great system. What happen to us? Checks and balances do not exists in the financial industry. We need to protect the American consumer. Millions are in debt. Millions could have been relieved. The banking industry is too fat and too tough to deal with. Look at those fat cats. They spend too much on marketing, still. Have you ever seen those pretty pamphlets they continue to send us? They solicit even those who can’t pay their present debt. Credit card debt is high and income and savings levels are super low. The loss of jobs have increased and the lack of health insurance has plagued so many Americans.
Our society cannot offer opportunities to catapult our economy's progression. The banks are at fault, again. They are bleeding us with high fees for everything. The high interest rates are criminal and nobody is doing anything about it. I cannot say it enough, criminal, criminal, criminal. It is a justifiable sound bite. There is no incentive element in our financial system. It is about the bleed, and the vampires are out, the banks are feeding. So can do something? I certainly do not want to watch the annihlation of the middle class? I have become particularly found of it.
Is more regulation needed?
A little more truth that has not been a part of national stats; free-lancers and entrepreneurs are not in the equation. 10% unemployment. I don't think so. What about 45%? Recently, I visited Northern Virginia where unemployment doesn't exist, a phenomenon, because the rest of the country is hurting. Problem in the equation. YES. Who influences change, for the most part, Washington. Regulation is still a dirty word there. And understanding how much we spend on the wars is a hush-hush conversation. Help us in the rest of the country. Trickle some of that our way by installing a system that actually works to create that flow I mentioned. The banks are the key. Their policies need to loosen.
Congress needs to do something about it all or progress will cease to exist. Already China and India are ahead. We produce nothing here. The Russian's prophecy that Capitalism will eat itself from within will come true unless Congress steps up to preserve America's progress, spawning more entrepreneurship, more money flow. Save the middle class and you will save everyone. We are being squeezed to shut up and fail. Astronomical interest rates are the financial death of us all. Congress needs to wake up and wage war against the Credit Card Companies. I suggest that we spend the same, match even what we spend on the the Taliban’s, the Saddam’s, and whoever else is gyrating the fueling of the war effort. The war is here at home with the our enemy, the Credit Card Companies. Debt is the cause and death to our economy is the effect. Save us Congress. I put a call to action. Step forward Congress. Do what is right. Financial hardship and economic instability is the crime. 20 to 45% is criminal.
Ever hear of a shylock or a Loan Shark, a Usurer?
It is extortion, defined as, "One who lends money at an extortionate rate of interest." Are you with me yet consumers? The Banks are guilty. Millions of Americans are stuck in this abyss and the Credit Card Companies are doing nothing to help, nor is Congress. Credit Card Companies are the terrorists. Get real congress, start relieving Americans of this horrendous burden so besieged on us. Credit Card Companies should be the ones to fail and go to jail without collecting their $200. We, the citizens of Americans, are the victims in this convoluted mess. Bankruptcy offers Americans the right to survive and to get a fresh start. We must pay for the basics. We need to live, and provide a roof and food for our children. There is no system that stimulates the economy. At least until millions of unsecured debt has been forgiven. Consumers need to see light to progress. Otherwise, we must fight against the Card Companies who have manipulated us into paying these ‘loan shark’ interest rates.
The banks are annihilating our economy, our progress, our spending power, our movement, and our God given American right to survive. What is the solution?
Americans got to get angry. The Credit Card Companies are parasites, and the middle class is being sucked dry, squeezed to a point of extinction. The Credit Card Interest Rates should stay at what it was in the first place when you were accepted as a card holder. Credit Card Debt is unsecured and called that for a good reason. We are not going to be manipulated and mutilated anymore.
Survival notes:
- Work at whatever you can to earn cash.
- Support our families with the basics, food, shelter, education, and health.
- Stay healthy, happy, and positive so we can weather this atrocity and progress.
- Respect and love thy neighbor.
- Simplify our life and stop living above means.
- Negotiate with those Credit Card Companies as they do, like the sharks they are.
- Don't pay those rates they say we owe. Pay them what you can, what you want.
- Don’t freak if the bank takes your house. Find an apartment.
- Try to find a way to get health insurance.
- Don’t pay debts that you can’t.
- Don’t worry yourself to suicide. Your life is more important than those criminals.
Remember, we are at war with the banking industry. The Credit Card Companies are dangerous felons protected big brother, so be careful, be smart. Card Card Companies are primitive carnivorous beasts who have taken advantage of us, US Citizens, millions of Americans. The war is here at home Congress. The enemy is the banks. Senators, Representatives, Lobbyists, Business Tycoons, Major Corporations who care, Judges, Politicians, Presidents, past Presidents, the Influential, Actors, the Wealthy, please help! I know...
Can't you benefit from a stable economy with consumers who spend?
Where Has It All Gone? Tarp vs Stimulus.
Posted on | October 11, 2010 | 2 Comments
How many questions need to go unanswered? Tarp vs Stimulus. Infrastructure control is questioned. Post your thoughts!
A Small Business Tip
Posted on | October 1, 2010 | No Comments
Always require a prepayment or partial payment when you procure a new client. Inevitably, this will scare away the non-payer and establish respect with a good client. A credit check is the obvious place to start.
Once you have issued an invoice, don’t wait long to collect your money. The longer you wait, the harder it is to collect. Work out a payment plan if you must, or a lump sum at a reduced amount.
Better than getting nothing. Make sure you have a contract done by a small businesses attorney, which, if you are using an ttorney, stipulate in the contract that you can collect attorney fees if the customer does not pay his debt. Most of the time, a letter by email or snail mail is sufficient .
All this is not legal advice, just a tip. So go out there and call, call, call. Collect your clients and money when they hire.
Land a Business Loan Despite Bad Personal Credit
Posted on | October 1, 2010 | No Comments
Wednesday February 24, 2010
SMART ANSWERS March 5, 2010, 11:07AM EST
Land a Business Loan Despite Bad Personal Credit
Approach local bankers, informal investors, and peer-to-peer lenders, such as Prosper and
Zopa, and talk up revenue history, accounts receivable, and inventory
By Karen E. Klein
I started a fabric and quilt shop in 2003 after finding myself a single mom. We expanded in 2007 but had
problems with our new building. I found a new location, and my customers love it, but I'm in debt with no
working capital, and my credit is shot due to the divorce. My business is sound, but banks are not
lending even to folks with good credit. What do you suggest? —C.D., Los Angeles
You're in a tough situation, but so are lots of small business owners. Many people go through personal problems
that affect their credit ratings. And a majority of entrepreneurs report that their businesses have had rocky times
in the past year, so you're not alone there, either.
But don't overlook the fact that you've got something a lot of entrepreneurs do not: a seven-year track record in
business, presumably at least a few years of successful revenue history, and both accounts receivables and
inventory. While banks may not lend you money immediately, establish relationships with a few local bankers
now, and they may change their minds as you get your credit rating back on track.
DEFINING YOUR GROWTH
Meanwhile, revisit your business plan, suggests RaiseCapital.com's CEO Rick Singer: "What is your business
trying to achieve? What are its strengths and weaknesses? What do you want to accomplish over the next six to
12 months with this money?" Put together a brief document defining where your business is now and how you
want it to grow.
Lenders and investors are typically wary about brand-new business ideas, but your shop's financial track record
will count for something with both traditional sources and a few nontraditional funding sources, Singer says. You
might tap into the "friends and family" circuit, if you haven't already. Add some of your most loyal customers to
that list, particularly those who have been with you long-term and are invested in your growth.
Suppliers who are small business owners themselves might be another avenue for you. "Mom-and-pops who
know you and know your track record of paying on time might be approached without jeopardizing the
relationship. Larger corporations don't understand the roots of mom-and-pop shops, so they probably won't have
an interest," Singer says.
MODERATING YOUR NEEDS
Depending on how much money you need, you might look to a microfinance organization such as Accion USA,
which offers small business loans up to $50,000.
Moderating how much you need might also help you find a lender at such online sites as Zopa or Prosper.com,
says Prosper's CEO, Chris Larsen. "Someone who doesn't land at the top of the credit spectrum should be
Land a Business Loan Despite Bad Personal Credit - BusinessWeek Page 1 of 2
http://www.businessweek.com/print/smallbiz/content/mar2010/sb2010034_487880.htm 3/8/2010
thoughtful about the amount he or she is asking for. For example, do you really need $5,000, or would $3,000 be
helpful to start? Lower loan amounts for those deemed to be riskier borrowers are more likely to fund," he says.
Prosper has a minimum credit score requirement of 640, so that may count you out. But if you can qualify for
even a small loan, and you consistently make on-time payments, you may be eligible after six to nine months for
a second loan at Prosper. "If you already have a loan on Prosper that you've been paying on time, this can send
yet another signal to the marketplace that you may be more worthy of credit than your credit score conveys,"
Larsen says.
One of the most helpful strategies for you may be to escape your own negative feedback loop and meet other
small business owners who are surviving in this economic climate. Women's entrepreneurial networking groups
such as the National Association of Women Business Owners and Make Mine A Million are options you might
pursue.
"You'll probably find there's more money out there than you knew existed," Singer says. "But if you don't ask, it
won't work out. Have confidence in what you've built, and others will be confident also."
Karen E. Klein is a Los Angeles-based writer who covers entrepreneurship and small-business issues.
Land a Business Loan Despite Bad Personal Credit - BusinessWeek Page 2 of 2
http://www.businessweek.com/print/smallbiz/content/mar2010/sb2010034_487880.htm 3/8/2010
Corporate Job vs. Entrepreneur
Posted on | October 1, 2010 | No Comments
Either way, you need an unprecedented commitment to achieve anything you pursue. Some go for for the later and others the former, and some adventurous try both at the same time.
Great Article By Marcia Passos Duffy of Bankrate.com
Posted on | September 25, 2010 | 1 Comment
Hold On or Let it Go
Government-backed programs can help with refinancing for homeowners who don’t have equity in their property.
By Marcia Passos Duffy of Bankrate.com
Homeowners whose mortgage balance exceeds the current property value know the futility of trying to refinance. Refinancing options for so-called "underwater" mortgages are limited because most lenders require some equity in the property — ideally about 20 percent.
However, borrowers should not give up hope. Options do exist, especially via the government's Making Home Affordable program.
First option: HARP
If you meet certain criteria, your underwater loan may be eligible for a refinance through the federal Home Affordable Refinance Program, or HARP. The program allows qualified borrowers to refinance a loan that is from 105% to as high as 125% of a home's value.
However, not every underwater loan qualifies for HARP. First, you must not be on the road to foreclosure: Any delinquent payments in the past 12 months will automatically disqualify you from eligibility.
Second, either Fannie Mae or Freddie Mac must own the loan. You can find a loan lookup tool and other calculators at the government's Making Home Affordable Web site.
- MSN Money: Your 5-minute guide to home loans
Your ability to take advantage of HARP will depend on payment history and other factors including credit score, the structure of the current home financing and specific lender guidelines.
"Can it help everyone? No," says Jason Bonarrigo, senior mortgage banker with Wells Fargo Home Mortgage of Boston. However, Bonarrigo has closed several HARP loans and says it's worth investigating eligibility.
Should you refinance?
"If refinancing through HARP can shave $300 or $400 off a monthly mortgage payment, it can sometimes make a difference between keeping and losing a home down the road," he says.
Second option: HAMP
If you not only have an underwater mortgage but also have missed payments, you may qualify for HAMP, the federal Home Affordable Modification Program, available through mortgage lenders.
To qualify, you must demonstrate financial hardship that puts your mortgage in imminent danger of default. The mortgage must be owned by Fannie Mae or Freddie Mac or by others signed up with the U.S. Treasury to qualify for HAMP. (Call your loan servicer to find out if it is participating.)
While the program provides government incentives of up to $1,500 to lenders to process these modifications, the ultimate approval rests with the lender.
"HAMP is not a refinancing program, it's a change to the contract terms ... but it can lower your payments for up to 60 months," says Michael Goldstein, a bankruptcy attorney and partner at Goldstein and Clegg in Lynnfield, Mass.
Loan Modification
Posted on | June 12, 2010 | No Comments
If you can't live with the payment, time to modify. It's your right. Tell me the stories because I want to know just how hard it is to do the process. So take care of it now while President Obama is in office. I don't think we will have a more opportune time in history to be able to have a hand against the banks though the banks are insured whether you foreclosure, don't, or your loan gets modified.
In understanding the amount of money that fuels banks any any given transaction, which do you think the bank prefers?
a. foreclosure
b. no foreclosure
c. modification
I argue "a". Why?
Network Marketing
Posted on | May 28, 2010 | No Comments
Don't even get me started on those network marketing career businesses. This is a full proof scheme to get people to give them their valuable network list, market their company, and sell their product for free. Oh yeah, here's the topper, those very people who are marketing their company for free, will buy inventory and find you more people to do the same. The emperor is naked folks. Brilliant scheme! I respect the starters of the company for their marketing business savvy.
The bottom line, if you can make millions with this kind of scheme, why do you do it? You have the power to create your own company. The payoff will be amazingly much more profitable. Examine yourself, if you have a huge network of friends to help you sell the quantities you need to be successful, why are you selling someone's product? Sell your own. They want your money and your network. Wake up America! Stop selling your valuable network list for free. People pay big money for those lists. Why shouldn't you get paid?
If you open your mouth, you should be paid. Shouldn't you?
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