Lawyers and attorneys familiar with bankruptcy and the credit system as a whole will be thoroughly entertained with the new Occupy Wall Street, debt relief help.
Debt relief help from citizen lawyers
One year after the Occupy Wall Street movement began. Today is an important day in history. The internet has allowed everyone the opportunity to share knowledge and teach each other. The “cloud” is a form of communication with so much power that even the most evil and powerful beings, cannot seem to stop it.
“Debt Slavery” is a new term but is easily understood after watching some videos on youtube.
Debt as Slavery – Bailouts , Fiat money & Banks
To battle the evil of money and the power that debt has on so many people living throughout the world, the Occupy Wall Street leaders have put together a valuable resource for those struggling with debt. In addition the new publication, THE DEBT RESISTORS’ OPERATIONS MANUAL. The manual covers a vast array of information. Lawyers and attorneys familiar with bankruptcy and the credit system as a whole will be thoroughly entertained.
Debt relief can help so many, from recent graduates paying hundreds of dollars in interest on their students loans every month, to working families bankrupt by medical bills, to elders living in “underwater” homes, to those taking out payday loans at 400% interest to cover basic living costs, to the teachers and ﬁreﬁghters forced to take pay cuts because their cities are broke, to countries pushed into austerity and poverty by structural adjustment programs.
The manual can help those with credit card debt and student loan debts. Medical debt is discussed and options to fight back against the system of debt are thoroughly detailed.
The chapter on student loan debt, which is not a debt discharged through bankruptcy, is discussed in greater detail below with excerpts from the manual.
IV. STUDENT DEBT: FORECLOSING ON THE FUTURE
This section explains how student debt was created, who profits from it and how you can survive as a debtor. Above all, you should know that you are not alone if you are facing default. There are ways of resisting, especially by acting together. In the long term, we need to put the United States back on the sizable list of countries (many of them less affluent) that manage to fund free higher education.
Going to public college used to be pretty affordable, especially for those on the GI Bill, or those who went to public colleges. Starting in the early 1980s, state funding began to erode and public college costs have risen by 500% since 1985.
Wall Street has created a trillion dollar economic system, that benefits the debt holders of student lending with federal protection, through Sallie Mae.
Between 1972 and 2010, loans were considered federal when originated by financial institutions (including Wall Street banks), but guaranteed and subsidized by the government. In 2010, the Obama administration cut out the middlemen so that any federal loan taken out is now originated directly by the federal government.
But don’t be fooled, these “federal” loans are still serviced by a group of select private institutions, including Sallie Mae. In addition, federal loans have unjustifiably high rates of interest (6.8%). Is the government profiting? Yes, and the proceeds are used to pay the bill for wars and Wall Street bailouts.
Your loan becomes delinquent the first day after you miss a payment. The delinquency will continue until all back payments are made. Loan servicers report all delinquencies of at least ninety days to the three major credit bureaus. As we’ve seen in Chapter I, a negative credit rating may make it difficult for you to meet your basic necessities.
Student loans are generally considered in default when you fail to make a payment for 270 days for a federal loan or 120 days for a private loan. If you want to avoid default, try to make at least one payment every 120 or 270 days.
For more information please check out the debt relief manual or the websites below:
Forgive Student Loan Debt to Stimulate the Economy (forgivestudentloandebt.com)
Income-Based Repayment Info (ibrinfo.org)
Occupy Student Debt Campaign (occupystudentdebtcampaign.org)
Student Loan Justice (studentloanjustice.org).