Forum Post: DEBT NEUTRALITY Petition at Change Dot Org, please sign if you agree, signatures jump from 81 to over 500 to over 600!
Posted 12 years ago on July 27, 2012, 5:08 a.m. EST by OccupyNews
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www.debtneutralitypetition.com
Please check out the Debt Neutrality Online Petition that was started on Change dot org. Debt Neutrality does what a bottlenecked Congress won't do without some prodding from their constituents.
Debt Neutrality does not forgive existing Consumer debt, but it also prevents more and more consumer debt from being heaped onto consumers in the form of ongoing interest rate charges, penalties and fees.
Debt Neutrality means that existing credit card and student loan default debts can be paid down with no more interest rate charges, fees or penalties for anyone who can do so without needing to borrow more money than they presently owe. (The idea being if a 10,000 dollar default debt is to be "Neutralized", the alleged defaulter should not be running up another 10,000 dollar debt as they pay down the defaulted debt that has no more penalties, fees or interest rate charges, otherwise the cycle never ends).
Debt Neutrality is basically a compromise from the Progressive Democrat premise of total Student Loan Debt forgiveness (Which is viewed as an unfair by those who pay their debts and others who never got debt forgiveness but now have to compete with the college educated person who did get total debt forgiveness in the work place).
Debt Neutrality is also a better alternative than the Neo Conservatives telling people to "Get a Job" or get a second job even if the job does not pay enough to pay down one's debts, but simply puts someone into perpetual debt, an equally unfair scenario.
Update info regarding address. If you post your actual address, the petition organizer does not see your actual street address. They do see your name, state, city and zip code, but no street address. They can also email you updates but once again do not actually get to see or possess your email address and the site discourages emails that are too close together in time. I do email updates once or twice a month.
Should add that whether one lives in the Phillipines or locally in the recent midwestern Tornado belt that wreaked havoc upon numerous communities covering many states, many of those people will soon be declared defaulters by wall street and the credit card companies.
Outrageous, no?
Outrageous, YES
Any Loan Or even any Bill should freeze at current amount owed - then pick-up where left off when the means to pay returns.
I finally tickled one of the underbellies of what drives wall street forward regarding usurious credit card interest rate charges and existing debt, it's "The Promise to Pay".
"Once a main streeter "promises to pay", that promise is to be embraced more closely by the promiser than the healthy of their loved ones or the well being of the community they live in". I find that wall street interpretation of "Promise to Pay" psychopathically insane and morally depraved.
Worse still, this "Promise to Pay" wall street meme and how seriously it is taken by wall street is hidden from the credit card signer at the time of the signing, and that is possibly most offensive of all.
Say it loud and say it proud, Credit card companies. You think your unsecured debt matters more than anything else in a person's life, just say it, say in BIG BOLD LETTERS right where the person signs on the dotted line, or, shut the fuck up when it comes to debt neutrality and accept it.
This insanity is not "just" theirs - it is fully supported by government and imitated/adopted by many.
It would be so healthy for the individual and for society as a whole - if everyone would just shred the damned things - while raising a Hugh and cry about other usurious instruments.
Yes, the threadbare distinction between the banks/fed and the government that perhaps does not actually exist.
Update. The Debt Neutrality Petition had a sudden surge to over 550 signatures from 81. Debt Neutrality basically means that Involuntary credit card and student loan defaulters should be treated BETTER than strategic defaulters, not worse as they presently are.
At the very least, there should be no more interest rate charges, penalties or fees added on once an Involuntary credit card default or student loan default occurs.
What constitutes Involuntary Default? An occurrence pretty much beyond one's control that causes one to lose income and default. An occurrence such as being a crime victim, natural disaster, medical emergency, becoming a caregiver, profession is being outsourced or significantly downsized, accident victim.
There are others, but the above list just shows how looney our nation has become when wall street and our politicians won't recognize that hammering one's reputation no matter the reason for a credit card or student loan default is the equivalent of moral depravity.
Well, we now have 26 Debt Neutrality petitions, way more likes on Facebook comments discussing Debt Neutrality.
Not sure it makes sense to drop all the new responses so low on the list, how are people going to know what the newest comment was? I'm going to copy the latest news so that it appears on top.
Anyways, there was a sudden spike in signatures from 81 to over 550 a short while back. What I found equally inspiring were the common sense reasons being given by petition signers in the comments section. Hopefully some of you from here will sign the petition and promote it elsewhere. Please read the independent comments being left by others.
A Debt collector actually signed the petition and gave a very logical comment as to why they supported the Debt Neutrality Petition.
I"m replying to myself here. It should be noted that banks WILL NOT shrink their credit card accounts, and that consumer debt is the number one grinder of the economy.
Signing this petition sends a message that people understand that excessive consumer debt helps maintain the status quo.
Good deal - we should have debt neutrality on the national debt until it is paid-up or at least nearly paid-up.
You bring up another aspect I have been meaning to write about. The short answer is yes, interest rate suspension on all debt is soooo logical as long as the debtor country is not running new debt equal to or bigger than the interest free debt that is being paid down.
And, be very afraid that ONLY national debt is talked about. Consumer debt rarely is discussed in the media because the banksters LOVE consumer debt, it's free money.
Banksters love country debt as well. Both should be paid down interest free.
Absolutely - it is the same scam on different levels. Used to be called usury. Nowa days you might just might every once in a while hear the term predatory lending.
If I had to choose between jailing a few wall street criminals or reducing their huge power base by taking back control over existing consumer and country debt by removing further interest rate charges on existing debt, I think I would go for eliminating future interest rate charges.
Debt Neutrality seems like a civil escape route from the clutches of Wall Street and the bankers.
Yep - if it was an either or type thing - definitely go for the freeze on interest but with that option would absolutely have to be a separation of investment Banking from mortgage or lending Banking - as well as breaking up the national/global monsters.
Excellent point as well. Separation of investment banking from mortgage lending is a must. I'm all for giving the bankers rubber rooms with rubber dollars and they can just play amongst themselves.
There ya go - Humanitarian aid/care for greed withdrawal - Kids Greed kills - stay off Greed - talk to your parents and/or your guidance counselor.
The More You Know!
This has been a public service announcement.
We will now return you to your regularly scheduled propaganda.
One of the most important things people can have is a piece of land with the place they call home. However, we have all been duped into thinking that getting that job that requires a car and a daily commute is much more important.
Appreciation of life and living the concept and the practice has taken an awful beating.
Every apartment and condo should be ordinanced to support dirt for planting something just in case the occupant wants to. It would not surprise me if many apartments could not withstand the weight of people putting a few feet of dirt on their balconies. That is poor planning.
Green space buildings make use of roof top gardens - you can grow veggies flowers whatever and the green roof provides insulation against summer heat and winter cold.
We gotta do much much more of this in cities. It will not be enough to feed everyone, but can make a real impact. It can cutdown on truck fumes, it can improve our diets (cut healthcare costs) if the price is cheap if not free. It can provide a means to "eat pollution" and create Oxygen! It helps insulate buildings saving heating/cooling costs, & cutting pollution related to HVAC as well, Finally it can provide jobs for the new urban farmer corps.
And we need a backup farm source since droughts are gonna continue destroying Americas farmland.
Whew! That was a bit of a rant. But I am passionate about this.
Peace
I've learned a out about healthcare and backyard farming and conserving as much as possible. Even though government condones taking care of the elderly, conserving energy, and using less resources, they don't walk the talk.
With the right growing active movement, these things will happen.
We must continue agitating for the change we know will work.
Stay strong. Look sharp, And keep your eyes on the prize.
Cool - enjoyed the POSITIVE rant. Green spaces do these things and they help recycle co2 and replace with O2 - and beyond that they give people a place that is in harmony with life - to just plainly enjoy.
Without a doubt. that harmoniousness is much needed in cities and even outside cities. Human connectivity is a casualty in out "keepin up with the joneses" culture.
Good point.
Not all building rooftops can support a roof top full of wonderous, life affirming, dirt. Plus, the extra weight is not a good thing if the building were ever to collapse.
In California, rooves that weigh more are more suspectible to collapse from the shaking during an earthquake. But in principle I agree that even apartment complexes should allow each renter space to grow some food.
Never was satisfied with their investigation into the cause of that collapse - and no follow-up charges or prosecution of those responsible for the substandard work
[-] 1 points by OccupyNews (1014) 0 minutes ago
and there was that bridge as well. ↥twinkle ↧stinkle permalink
Yes - green space buildings are specially designed. But we here in Minnesota ( where the only temblors we feel are from passing trains ) there actually have been some buildings converted to have green space - we will just have to wait and see if that was as much of a brilliant idea as the soft top on the metrodome stadium ( not real snow friendly as it has turned out).
Dirt is surprisingly dense. And when it absorbs moisture, not only is it heavier, but moisture leeching from the dirt to the supporting structure below can cause the structure to weaken over time.
Just an update, up to 630 signatures. Wish the petition could get to 1,000 signatures, that always seems to be a benchmark of note.
Now at 591 Petition signatures. Saw this video about compounding percentages that can be used to perfectly explain why compounding interest at 9.9% against credit card and student loan defaulters is not a solution. Check it out.
http://www.upworthy.com/most-math-lectures-make-me-want-to-take-a-nap-this-one-made-me-re-think-most-of-earths-problems?g=2&c=ufb1
I thought I updated this topic, what is going on?
Anyways, there was a sudden spike in signatures from 81 to over 550 a short while back. What I found equally inspiring were the common sense reasons being given by petition signers in the comments section. Hopefully some of you from here will sign the petition and promote it elsewhere. Please read the independent comments being left by others.
A Debt collector actually signed the petition and gave a very logical comment as to why they supported the Debt Neutrality Petition.
Made it to 78 signatures.
+1
Thanks. I probably could get a lot more if I canvassed in public, however, I have family obligations that prevent that from happening.
Tweet it.
I think tweeting is over rated. I think I have in the past. However, it does remain on one's history so people who check out the twitter account later on can see it by quickly scanning the history.
Tweeting may be overrated but using it you still reach more individuals as well as groups - not tweeting or using other social media and - well - you don't.
Just thought I'd bump this thread about paying down consumer debt by waiving the on going interest rate charges, penalties and fees.
Got Debt Neutrality?
48 signatures and steadily climbing.
Good deal - keep it circulating folks.
45 signatures now.
Speaking of national debt, if every country in the world except one or two has debt, just who do they owe the money to? If it is a handful of ultra rich tycoons, then of course interest rate suspensions on all debt could rid the world of a lot of unnecessary stress and loss of property.
ONE BILLION DOLLARS A DAY, EVERY DAY, in new interest rate charges on the existing 3 trillion dollars in credit card and student loan debt in the US.
Please sign the Change dot org petition, Debt Neutrality for Consumers. http://occupywallst.org/forum/debt-neutrality-petition-at-change-dot-org-please-/
Is it like tax amnesty?
What's it like?
It's like calling a time out, or a truce, a cease-fire. Hey banker dude (or dudette), I'm not in a position to pay off my debt with you if you keep adding interest rate charges, penalities and fees.
lets agree there is a debt, and I'll pay it off with no more interest rate charges penalties or fees being added on.
However, for this idea to work and be accepted, people can't be running up new debt that is for more money than they are paying down their existing debts.
The goal is to not be in debt to banksters anymore. Right now, people are not only treading water financially, but once they go under they get scarlet letter stamped and their credit rating could be ruined forever.
And Debtors Prison is making a come back!
President proposes and Congress disposes: Obama should have asked for more and I believe he did, but Congress only spent what they did to plug the giant gaping hole Republicon Bush left in our economy! Probably the most important thing the stimulus did was save millions of lives (we know you Cons don't give a shit about that) from the devastation of abject poverty and the mutilation of military action conducted on the starving masses attacking the rich!!
People, do you want to get your way from government for a change??? GET OUT THE VOTE!!! Turn out a 90% and watch what happens!!! We will get the government that the 1% is enjoying by design!! Quit being manipulated!! VOTE!!!
Obama has NEVER mentioned the consumer debt levels nor offered an incentive plan for consumers to pay down their debts.
Obama also thinks Parallel Foreclosure is legal when it is clearly a constitutional violation and caused over a MILLION PEOPLE to lose their homes and be scarlet lettered on their credit rating for the next decade or longer.
Obama basically offers NEW AND MORE DEBT as way to "stimulate" the economy. I don't like Romney either. Soros put the screws to Hillary Clinton and she would not agree to be his puppet, so you got Obama instead as the democrat nominee in 2008 and now.
Unfortunately, younger people can't identify with a mommy figure, so Obama is what you got.
Apparently the Glass Stegall proposal was cut down by Obama's minion's at the democrat platform meeting. Obama is a Banker.
I checked with Change dot org. They claim the address info that is required is not shared with anyone.
The Debt Neutrality Petition went from 81 signatures to over 550 signatures in just a couple of days recently. The comments left by some of the petition signers are truly fantastic.
There is even a comment that was left by a debt collector who signed the petition.
[Removed]
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What a nice surprise, jus discovered that the Debt Neutrality Petition suddenly has well over 500 signatures, a very humbling surprise for sure.
Can't do it; we tried this with credit card debt and this Congress shot us down.
So who is "we" and how many is "we", and was it debt forgiveness you were after, or more interest rate charges on the debt?
What I wanted was an end to the far too easy credit; I didn't want people with mortgages and car payments compounding their worries with credit card balances they can't afford, which is exactly what those without money do; I didn't want children receiving credit cards based on household income; I didn't want misleading, never pay it down, minimum payments; I didn't want ridiculous interest rates or fees such as late payments and above the max payments. I didn't want states such as Delaware taking advantage of the measures instituted by other states to protect the consumer. We LOST all the way around because once again the credit card companies wrote the bill. And it gets worse because the market is so lucrative that virtually all are lenders now; retail has become the banker. And the banker is the enemy of the desirous poor.
This is an excellent point. Simply raising the 2% monthly minimum payment to 5% monthly minimum payment would do this. However, first all the people with debt would have to have 66% of their debt forgiven. The consumer would still have to make about the same monthly payment every month, but they would not have a superior respend ratio and the ability to pay down their debt must faster.
So you would be for debt neutrality in which those with debt can pay it down interest free, penalty free and fee free. http://www.change.org/petitions/congress-create-debt-neutrality-rights-for-paying-down-credit-cards-student-loans
I think easy lending has driven up the price of homes to the point where many find them unaffordable in all but the most economically depressed areas; in reference to the sub prime I think that both the loan officer and the home buyer are culpable - both knew the mortgage was unaffordable and would never be fulfilled - I'd put both in jail, say a "one and a half to three."
In reference to student loans, I think privatization at the public's expense through higher fees and interest rates is a crime; government needs to put its money where its mouth is (Congress knows this but they allowed themselves to be bought). I also think the business of education needs to be reined in - tuition is too high - and students are stuck between a rock and a hard place as a future through education supported by the student loan or some projected life of poverty. I have no problem with students defaulting on these loans; in many cases the parents have paid enough taxes in their lives to pay those loans ten times over, and heretofore they were government loans, - they sold out, let this market correct itself.
Citigroup, Capital One, etc - all have expanded into plastic credit because with the aid of Congress they are permitted to take advantage of the "consumer"; every retailer - Walmart, Sears, even Home Depot and Lowes - all are creditors now... money lending is so lucrative they can absorb all the fraud; they don't even pursue the theft - credit card fraud, especially for the immigrant with multiple legal aliases, is so easy and so unchecked that many have chosen to make it their career.
I have no feelings for the banks... they are our enemy; prior to 1990 or so every one knew this; the only one that seems to understand this now is the Jew, and needless to day, very few are poverty stricken.
The purpose of the Debt Neutrality Petition is create a public consensus that 3 trillion dollars in consumer debt (credit cards and student loans) is just too high, and one way to reduce this three trillion dollar in debt is to eliminate future interest rate charges, penalties and fees.
if it matters any, as people pay down their credit card and student loan debt with no more penalties, fees or interest rate charges, they are not supposed to run up equivalent debt again.
The secret sauce to running up significantly less debt from credit cards is to pay at least 5%, not 2%, of the total due every month. this instantly creates a stark reality for many who could previously afford a 2% monthly minimum payment.