Articles tagged: Credit Card Abuse 

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When Banks Are Left To Their Own Devices…Consumers Get The Hosed written by Dale Rogers
Desperate for money, Jack contacts a money guy referred by his cousin Jerry for a temporary loan. The “VIG” is 25% per week. This is excessive and is an example of loan sharking. This is a criminal act. The terms are clear and it’s all spelled out with verbal communication. Pay as agreed or else.

Warning Labels Mandated For Credit Cards written by Dale Rogers
If anyone gets any type of prescription drug or even buys something over the counter to help with symptoms of a cold, a rash, insomnia or a hang nail there is a warning label attached out lining all the side effects of taking the product. A soda with an artificial sweetener has a warning label and caution that it may cause cancer. Buying beer or cigarettes comes with warning labels. There are warning labels on seat belts and no one dares remove the label on a new mattress or the perpetrator will suffer the consequences. Warning labels are mandated on all kinds of products. On a popular brand of dry roasted peanuts there is a warning for any child under six not to eat them as it could cause choking. Consumers are warned in any type of electrical appliance under the sun sold in the U.S. Many of these things have been utilized by the manufacturer and end sellers to “help” blunt litigation efforts by users of the products. What might a strong credit card warning label look like under such a mandate?

"The inappropriate use of this card could cause divorce, bankruptcy
the loss of your home through foreclosure, unlimited harassment from
creditors by phone and/or mail. Wage garnishments and filed judgement
may result in the loss of other owned property. With adversely impacted
credit scores plan on paying the highest mortgage rates allowed for a subprime
lender. Thousands of dollars maybe lost through identity theft if said event is not
reported in a timely manner. The use of this card may cause negative impact
on your health through added stress and emotional trauma resulting from non-payment of this card. Welcome aboard and as always it’s a pleasure to handle
your business. Use this card at your own risk. Have a nice day.” (Sarcasm Intended)

Identity theft or the plague of modern society written by Mike Rad
There is a modern plague affecting millions of Americans each year - identity theft ! Personal information is easier to obtain than ever, and many fall victims to ID theft, the best solution often being the use of paper shredders. Learn how to prevent your identity from being stolen and abused.

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