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If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?

 
Anonymous
User ID: 1161964
United States
12/10/2010 12:02 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
its unclear to me what happens but I do have a curiousity about gold, if our money is backed by gold standard and gold goes through the roof then why doesn' t that make our dollar more valuable?
 Quoting: Anonymous Coward 982522


After stopping off at this site and reading many of these posts about the dollar crashing which will happen or at least devaluing itself into just paper i can't help but ask....You all do know that our dollar has not been backed by Gold or Silver or any precious metals since Nixon took the dollar off the gold standard allowing the Federal Reserve to maintain the balance of the dollar. You all do know that right?
Currently, China owns our dollar and a lot of it...Sure there money will also turn into just paper but they also amassed a ton of gold and silver since they own most of the mines world wide now.
So yeah, Dollar crashes, Gold and silver go up cause people are buying the heck out of them in fear of the impending doom, and who knows what to come out of that.
Just wanted to clear the air about the Gold backing the Dollar which is not and has not for many many years.
Just keep printing that Paper Federal Reserve, the more they print the less the dollar is worth. (Federal Reserve is not apart of our government but is its own entity who we pay to print our money. The "Feds" is just a bank that controls basically the world cash flow since all the other countries currency is backed by the US Dollar. Scary to see a picture developing here huh?)
Anonymous Coward
User ID: 1176939
United States
12/10/2010 12:05 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Thats exactly why the Dollar will not crash. It would leave too many Mortgage holders and credit card companies with their pants down.

They will not let it happen.
Anonymous
User ID: 1161964
United States
12/10/2010 12:37 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Thats exactly why the Dollar will not crash. It would leave too many Mortgage holders and credit card companies with their pants down.

They will not let it happen.
 Quoting: Anonymous Coward 1176939


Actually its exactly why they want the dollar TO crash. They want to be able to establish a "Global Economy" to were they can control not just the imaginary currency they will create on a computer screen and let you know how much you have by pushing some buttons on a keyboard, but it would also allow them to tell you how much gold, silver, and all precious metals are worth. Only the top echelon of people would be in control here.
You just can't flip a switch and make this happen over night, you have to gradually make it fall and act like your trying to help the economy by Easing the dollar. If you do it to fast people might open there eyes or even cause a riot. Can't have the peasants rioting now.
Do some research and look at who actually OWNS the Federal Reserve and put it into place in the first place. The picture will become clear pretty quick as to whats going on.
Mercurius
User ID: 1087913
United States
12/10/2010 12:41 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
A dollar crash is irrelevant to debt. Your debt is owed in dollars, so you still owe the same amount. On the other hand it would make it easier to pay your debt since it will increase US exports and help to bring jobs back to the US.
Anonymous Coward
User ID: 1190192
United States
12/10/2010 06:44 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Get your money out of the bank now. jihad2
britishjohn
User ID: 1238255
United States
01/21/2011 10:01 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Assuming that a family can survive the current depression with their job and home in tact with mortgage paid up to date then it is my belief that as the dollar collapses and is demonetised, any debts and liabilities, along with credits will become unenforceable. In short if the dollar goes away, so do all of your legal obligations to perform on the contract that is part of your mortgage agreement. Having said that don't expect the owners of the debt, the government and the elite not to try and find a way of tricking you or forcing you to take on a new contract for your debts in the new currency. They won't want to let you keep you home without repaying off that mortgage and they won't want to cancel your credit card debt. This is why the people need to be very wary of any attempt to see their wealth confiscated without the reciprocal cancellation of debt. It is my view that the whole reason they are keeping up this sham of an economy without default is because they want to shake the people down for as much tangible real and personal property as they can get before they pull the plug. They want you to cash in your jewellery, lose your home, sell your car and downsize what you have so that when your debts become unenforceable, you will have much of real, tangible value anyway. It's the biggest theft in history.
Anonymous Coward
User ID: 1169881
United States
01/21/2011 10:24 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
bump
still dont understand in layman terms.

BUY GOLD? BUY SILVER? HOLD ONTO CASH WHAT?????

does anybody know REALLY

THANK YOU
Anonymous Coward
User ID: 1169881
United States
01/21/2011 10:27 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
bump
Anonymous Coward
User ID: 368888
United States
01/21/2011 12:49 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
bump
still dont understand in layman terms.

BUY GOLD? BUY SILVER? HOLD ONTO CASH WHAT?????

does anybody know REALLY

THANK YOU
 Quoting: Anonymous Coward 1169881


1. Don't take on any new debt.
2. Have full pantry of food and supplies (just in case).
3. Have some cash on hand (in case system goes down for weekend and you can't use card for gas or food).
4. Buy heirloom seeds and gardening books.
5. Then if you have any money left, buy some silver (physical).
6. If you still have some money, buy some gold (physical).

If system does collapse, the gold/silver will help save your value (instead of dollars in bank).


If nothing happens, you have not lost anything.
iwannajuggle
User ID: 1247720
United States
01/29/2011 03:13 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
It all seems to come down to a few fundamentals:

1) It is some Gustapo-like plan to get the world into one currency (thank you George Soros, you've already killed numerous other country's currency and we're soon on the menu).

2) ALL of what you all are concerned/chatting about has been laid out already in detail in the Bible. Wanna know the future? There's your crystal ball. Proof? read it and compare to the news and what you're all saying. Too lazy to do so? Then call me an idiot and think whatever you/others come up with. Just remember inventing an idea doesn't make it true.
5a
Anonymous Coward
User ID: 1211208
United States
01/29/2011 03:55 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
They will come to take your house and belongings to sell to settle the debt.
Anonymous Coward
User ID: 761652
United States
01/29/2011 03:58 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
the debt will be eaten by a sacksquash
Anonymous Coward
User ID: 1194557
United States
01/29/2011 04:27 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
You get to work off your debt in a FEMA camp.
rachald

User ID: 1272198
United States
02/20/2011 09:05 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Banks Got Caught!
The Mortgage Litigation process is when attorneys sue the lender/bank on behalf of homeowners. Over the past decade, homeowners have fallen victim to deceptive practices by their lender in the way their mortgages have been implemented, recorded, transferred, and executed.

One of the overlying themes that law firms are discovering in the majority of these cases is the securitization of mortgages. Over the past 10 years, lenders thought they had found an efficient and cheap way to buy and sell mortgages. Lender’s business practices were focused on making money any way they could with very little regulation. This was securitization, where they would routinely bundle large amounts of mortgage notes and electronically transfer them to large investment pools over and over again. As a result, these transfers were not properly recorded; therefore, it is being challenged that banks rightfully own these mortgages, and that they have been illegally collecting payments and fraudulently performing foreclosure actions.

Our attorneys will file a lawsuit in the US court system against the homeowner’s bank! This takes the decision making ability away from the banks and offers the homeowner to get equitable justice.

When lenders are forced into this position, you win!

Contact me for more information: davis_rachal@yahoo.com
Anonymous Coward
User ID: 1263554
United States
02/20/2011 10:08 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
What usually happens is that old dollar would lose a zero.
2000.00 becomes 200.00. Anything below a hundred dollars is worthless.
Debt is not erased, but easier to payoff. IF, you can get them to take the old dollar before the new dollars built in inflation comes in.
The bad thing is that overnight, a box of ceral costing 2.50 in the old dollars price, overnight goes to 250.00 new dollars price. That is if the goverement imposes inflation checks.
Other wise it will go as high as 2500.00 for the same cereal that previously cost 2.50.
Anyone in Mexico, over 40, could probaly explain it a little better since it happened there.
C74R1TY-44

User ID: 1178496
United States
02/20/2011 10:28 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.
 Quoting: Anonymous Coward 1143571


stop paying now and help the cause
The storm is closing in to begin again from the beginning. Never sitting through my waking life oblivious. The ignorance running rampant through the city is indicative of something worse; this picture isn't pretty.
Anonymous Coward
User ID: 1272275
United States
02/20/2011 10:48 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Banks Got Caught!
The Mortgage Litigation process is when attorneys sue the lender/bank on behalf of homeowners. Over the past decade, homeowners have fallen victim to deceptive practices by their lender in the way their mortgages have been implemented, recorded, transferred, and executed.

One of the overlying themes that law firms are discovering in the majority of these cases is the securitization of mortgages. Over the past 10 years, lenders thought they had found an efficient and cheap way to buy and sell mortgages. Lender’s business practices were focused on making money any way they could with very little regulation. This was securitization, where they would routinely bundle large amounts of mortgage notes and electronically transfer them to large investment pools over and over again. As a result, these transfers were not properly recorded; therefore, it is being challenged that banks rightfully own these mortgages, and that they have been illegally collecting payments and fraudulently performing foreclosure actions.

Our attorneys will file a lawsuit in the US court system against the homeowner’s bank! This takes the decision making ability away from the banks and offers the homeowner to get equitable justice.

When lenders are forced into this position, you win!

Contact me for more information: davis_rachal@yahoo.com
 Quoting: rachald




Our Attorneys?

More info please...

boa putting me and family in a hell of a spot!
all over 3 pmts. and they have been double dippin on the late fees as well.

We are filing bankruptcy this friday ta stop them from sale on our place march 1st,so if ya got something i can use?please share.

Fire fly
Anonymous Coward
User ID: 1272275
United States
02/20/2011 11:02 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Banks Got Caught!
The Mortgage Litigation process is when attorneys sue the lender/bank on behalf of homeowners. Over the past decade, homeowners have fallen victim to deceptive practices by their lender in the way their mortgages have been implemented, recorded, transferred, and executed.

One of the overlying themes that law firms are discovering in the majority of these cases is the securitization of mortgages. Over the past 10 years, lenders thought they had found an efficient and cheap way to buy and sell mortgages. Lender’s business practices were focused on making money any way they could with very little regulation. This was securitization, where they would routinely bundle large amounts of mortgage notes and electronically transfer them to large investment pools over and over again. As a result, these transfers were not properly recorded; therefore, it is being challenged that banks rightfully own these mortgages, and that they have been illegally collecting payments and fraudulently performing foreclosure actions.

Our attorneys will file a lawsuit in the US court system against the homeowner’s bank! This takes the decision making ability away from the banks and offers the homeowner to get equitable justice.

When lenders are forced into this position, you win!

Contact me for more information: davis_rachal@yahoo.com
 Quoting: rachald




Our Attorneys?

More info please...

boa putting me and family in a hell of a spot!
all over 3 pmts. and they have been double dippin on the late fees as well.

We are filing bankruptcy this friday ta stop them from sale on our place march 1st,so if ya got something i can use?please share.

Fire fly
 Quoting: Anonymous Coward 1272275





walk away and don't look back. the end is here. if i could make you believe dec. 2012 was your last day on the planet would you do anything any diferent? rent or own what does it matter. the lawers aren't free.

walk away. one of two...
 Quoting: chipg


Not so easy when you have paided for 7 years+ $45k down


Fire fly
Anonymous Coward
User ID: 1167352
United States
02/20/2011 11:12 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
its unclear to me what happens but I do have a curiousity about gold, if our money is backed by gold standard and gold goes through the roof then why doesn' t that make our dollar more valuable?
 Quoting: Anonymous Coward 982522


How many people out there are still under the impression that the Federal Reserve debt Notes are back by gold?

newsflash
This was done away with 40 years ago!!!

1doh1 cow anon wakeup alone
Two-R-one

User ID: 1041216
United States
02/21/2011 07:39 AM

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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
its a fractional banking scam.. at best they really only lent you 10% of your mortgage.. the rest was pulled out of thin air and teleported at the speed of light.. instant enslavement ..like magic.. poof!.. we were the fools through ignorance.

the dark side of the force is strong with themyoda
Nailer45

User ID: 1272566
United States
02/21/2011 07:51 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
If the dollar takes a dive or dies completely, and there are bank holidays to allow for its devaluation and/or replacement, what happens to existing debt on the books?

I know that any cash you have on hand and in the bank will now suddenly worth less in value. But will the same recalculation be done on your debt? Or will that stay at the same value, and you're effectively screwed?
 Quoting: Anonymous Coward 975720


when you get a truckload of worthless US Dollars go pay off your mortgage..

A fixed rate mortgage will still be the same monthly payment and if the us dollar collapses the bankers get screwed as you can pay off the mortgage with useless Fiat money / method of payment /acceptable currency as described in the loan papers.
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
Thomas Jefferson
Anonymous Coward
User ID: 1364731
United States
05/01/2011 08:47 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Assuming that a family can survive the current depression with their job and home in tact with mortgage paid up to date then it is my belief that as the dollar collapses and is demonetised, any debts and liabilities, along with credits will become unenforceable. In short if the dollar goes away, so do all of your legal obligations to perform on the contract that is part of your mortgage agreement. Having said that don't expect the owners of the debt, the government and the elite not to try and find a way of tricking you or forcing you to take on a new contract for your debts in the new currency. They won't want to let you keep you home without repaying off that mortgage and they won't want to cancel your credit card debt. This is why the people need to be very wary of any attempt to see their wealth confiscated without the reciprocal cancellation of debt. It is my view that the whole reason they are keeping up this sham of an economy without default is because they want to shake the people down for as much tangible real and personal property as they can get before they pull the plug. They want you to cash in your jewellery, lose your home, sell your car and downsize what you have so that when your debts become unenforceable, you will have much of real, tangible value anyway. It's the biggest theft in history.
 Quoting: britishjohn 1238255
Anonymous Coward
User ID: 1364753
South Africa
05/01/2011 09:18 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
You people are crazy if you think the bankers will get screwed. They are the one that created this mess in the first place AND THEY DID SO BY DESIGN.
Anonymous Coward
User ID: 1502817
United States
08/12/2011 04:05 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
The dollar is dying and dying HARD! I love that this thread has been going on for so long. Silver, Gold and other physical things of value should be your primary focus.

I am still unclear as to what will happen to most things though I am sure of one true fact... The mortgage cos will find a way to screw us all. God is coming... not fast enough for me but still... He is coming, and most people will walk right into the "food lines" and recieve the Mark, whatever form they decide it will be. You wont have enough food money heat guns. It simply wont be enough.

The mortgage cos will get their money some how. They always do. Probably by converting the ammount owed ie 140,000 dollars into gold. Right now gold is at $1,755.30 an ounce. So if you divide 140,000 by $1,755.30 you would have to pay almost 80 ounces of gold to pay off your house. After everything is said and done though, the value of gold will have gone up WAY past this point probably 3000 or more. Sounds good if you stocked up now with or before when it was only 500$ per ounce but if you didnt... you will be sorry.

All the poor sheeple out there just walking around who have NO CLUE whats about to happen.

I dont even talk to my family about my supplies because they are a security risk. You think that big screen tv has value?? How much would it be worth to you if you couldnt feed your family? Think about what you would do to care for your babies? There isnt anything I wouldnt do... And everyone else is the EXACT same way. We live in dangerous times people.

Wake the FRACK UP!
Anonymous Coward
User ID: 1501626
United States
08/12/2011 04:29 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
There was a book out a few years back, "The Economic Earthquake." Don't remember too much about it, just that it's important to get out of debt and stay out of debt. Rest assured that anything you don't own, you will lose! You may still lose what you do own, if you have to trade or sell it in order to obtain the necessities of life, such as food.
Anonymous Coward
User ID: 1502794
China
08/12/2011 04:49 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Although it's unbelievably complicated - what with all the devaluation scenarios and default implications, I just rely on a simple little rule that my higher self told me one day long ago when I was then a simple patriotic believer in all the righteousness of good 'ol 'Merika, sitting in front of my computer and staring in total shock as I clicked through the AE911 webpages - and that precious little lullaby is: "The bankers and their minion government will fuck you with the worst end of any arrangement they come up with to "resolve" and settle a devaluation/default. Count on it."

Working on puttin' some rhymes and a melody to it.
Anonymous Coward
User ID: 2359349
Mexico
09/30/2011 06:11 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
I'm not sure but there are plenty of countries where currency has collapsed, go look up Germany or Argentina and see what happened there to debt and let us know.
 Quoting: Anonymous Coward 500362


When the Zionist IMF and World Bank fuck us into recession, like their are penis rigging the US ass right now, interest rates and prices go way the fuck up while everything else goes the fuck way down, i.e. purchasing power, livelyhood, jobs, and opportunities.

Since the US economy was the big ass in the world, it needs a huge dick to break it, and that is being introduced, right now. If ythe world stinks so much right now, is because the shit is starting to come out of the US and it´s stinking all the world.

cool2
Anonymous Coward
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Mexico
09/30/2011 06:12 AM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
5a
GoneWithTheWind

User ID: 2505849
United States
10/02/2011 02:03 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
Assuming that a family can survive the current depression with their job and home in tact with mortgage paid up to date then it is my belief that as the dollar collapses and is demonetised, any debts and liabilities, along with credits will become unenforceable. In short if the dollar goes away, so do all of your legal obligations to perform on the contract that is part of your mortgage agreement. Having said that don't expect the owners of the debt, the government and the elite not to try and find a way of tricking you or forcing you to take on a new contract for your debts in the new currency. They won't want to let you keep you home without repaying off that mortgage and they won't want to cancel your credit card debt. This is why the people need to be very wary of any attempt to see their wealth confiscated without the reciprocal cancellation of debt. It is my view that the whole reason they are keeping up this sham of an economy without default is because they want to shake the people down for as much tangible real and personal property as they can get before they pull the plug. They want you to cash in your jewellery, lose your home, sell your car and downsize what you have so that when your debts become unenforceable, you will have much of real, tangible value anyway. It's the biggest theft in history.
 Quoting: britishjohn 1238255


This^
GoneWithTheWind

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United States
10/02/2011 02:05 PM
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Re: If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?
bump
still dont understand in layman terms.

BUY GOLD? BUY SILVER? HOLD ONTO CASH WHAT?????

does anybody know REALLY

THANK YOU
 Quoting: Anonymous Coward 1169881


1. Don't take on any new debt.
2. Have full pantry of food and supplies (just in case).
3. Have some cash on hand (in case system goes down for weekend and you can't use card for gas or food).
4. Buy heirloom seeds and gardening books.
5. Then if you have any money left, buy some silver (physical).
6. If you still have some money, buy some gold (physical).

If system does collapse, the gold/silver will help save your value (instead of dollars in bank).


If nothing happens, you have not lost anything.
 Quoting: Anonymous Coward 368888


Double this^^^

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