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 8 years ago on July 27, 2012, 5:08 a.m. EST by OccupyNews
This content is user submitted and not an official statement
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.