Trying to find a credit card debt loan that will put you further into debt is like holding your hand to a hot stove. You have already been burned once so why do it again and add another “blister” to your life? There is absolutely no reason to even attempt repayment when you do not have the ability to do so.
The fact that you are looking for a loan implies that you could not pay the first one so why waste your time and money to try it again when a simple procedure anyone can do will remove your loan permanently and without cost to you.
The Fair Debt Collection Practices Act can be employed as a legal means to actually remove your credit card loan once and for all. If you can put one foot in front of the other then you can do it in a three-step process. Each step adds to the power of this simple debt removal system.
In step one you stop paying credit card debt and in six months the bank will be legally required to write off your account. It will be closed and no longer exist. The card company did not lend you any money but instead opened an account with your name and account number.
In step two you deal with the debt collector that purchased your account information for a few pennies on the dollar. He will attempt to “reopen” your closed account and become your new bank. In order for him to be your new “bank” he must establish a contract with you in one of two ways.
First he will try to establish a verbal contract with you over the phone by getting you to “admit” that you owe him money which will establish a contract. It is extremely easy to say “communicate with me in writing only” and hang up the phone. No admission, no contract.
He will then be legally forced communicate with you in writing and will send you a collection notice worded in such a way that “if you do not respond” then you “admit” a contract by your failure to respond. To counter this tactic you send a demand for “proof” of an alleged debt sent by registered mail with return receipt.
These two steps alone are enough to convince most debt collectors to move on to someone they can easily burn because you are establishing yourself as being fireproof however now and then an especially greedy collector will try to build a fire under you by filing a lawsuit.
Step three will be required to convince the credit card debt collector that is “he” who is about to be burned badly. Your “flamethrower” is called a “sworn denial” which is a written statement from you that this filed with your county clerk of court and a copy sent to the debt collector.
In this simple document you will state something to the effect that “I deny this is my debt, if it is my debt I deny that it is valid but if it is valid I deny that it is the correct amount” which will force the collector to produce a live witness with “personal knowledge” of your account.
There is no witness in existence that has personal knowledge of your credit card debt loan. They would have been present when you signed a contract with the original credit card company and they would have that contract in their possession as well as having records showing that the bank sustained a “loss” resulting from you closing your account. It is not going to happen!
The cost alone of bringing a live witness with personal knowledge to court will cause your case to be dropped even if such a witness could be found. Your loan no longer exists because you have burned the collector at the courthouse door! Add a little insult with a bucket of cold water to put out the fire!