SURPRISE! “Debtors’ Prison” (debtors’ imprisonment) exists today in the United States. That’s right… you can go to jail in the United States today (in the year 2011) over a debt owed, even though you have not committed a crime [Chapter 19, “Avoiding Debtors’ Prison in the United States”].
“Produce the note!” is probably the most important phrase or statement a homeowner can make when facing foreclosure on his or her home [Chapter 4, “Fifteen (15) Tips for Avoiding Foreclosure”]. It is no less than remarkable how many times your promissory note on the property can be misfiled, made unavailable temporarily, or even lost between the transfer of your housenote from one creditor (mortgagor) to another.
Credit reports are frequently wrong… and, they are biased against the consumer [Chapter3].
For American credit card holders, the average credit card debt amount per holder has been estimated by some authorities to be $15,788.00 [Chapter 9, “Four (4) Things Not To Do When You Are In Debt”].
It has been guesstimated by at least on reliable source that it would take more than 40 years for the average consumer to pay off most credit cards by making just minimum payments [Chapter 9].
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