What Our Founding Fathers Said About Credit

History repeats itself and this is one of the most important reasons we should all know and understand our history, so that we do not continue making the same mistakes over and over…and over and over again…

Starting as early as the 1700’s in England, Central Banks were instituted to produce the currency of an entire nation. Based on historical precedent, two specific powers are inherent in central banking practice: the control of interest rates and the control of the money supply, or inflation. The central bank does not simply supply a government's economy with money, it loans it to them at interest. Then through the use of increasing and decreasing of supply of money the central bank regulates the value of the currency being issued. It is critical to understand that the entire structure of this system can only produce one thing in the long run: DEBT.

Most recent, The Federal Reserve Act was signed in 1913 and the public was told that the Federal Reserve System was an economic stabilizer and inflation and economic crises were thing of the past. Well, as history has shown, nothing was further from the truth.

Here are what some great leaders have said throughout history regarding Central Banks. Some were contributors who in the aftermath gave great regret to their involvement or aide in instituting such on the people of their nation and creating economic slavery.

There is something behind the throne greater than the king himself”

-Sir William Pitt, House of Lords, 1770-

“The real truth of the matter is that a financial element in the large centers has owned the government since the days of Andrew Jackson”

-Franklin D. Roosevelt, US President, 1933-

“The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution”

-Benjamin Franklin, Founding Father

“I believe that banking institution are more dangerous than standing armies… If the American people ever allow private banks to control the issue of currency… the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered”

-Thomas Jefferson (1743-1826)

“If you want to remain slaves of the bankers and pay for the costs of your own slavery, let them continue to create money and control the nation’s credit”

-Sir Josiah Stamp (1880-1941)

“Our Great Industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men... who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”

-Woodrow Wilson

“We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world –no government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.”

-Woodrow Wilson

“Under the Federal Reserve Act, panics are scientifically created. The present panic (1920) is the first scientifically created one, worked out as we figure a mathematical equation.”

–Charles Lindbergh

“It was a carefully contrived occurrence, international bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all.”

-Louis McFadden

“Give me control of a nation’s money supply, and I care not who makes its laws”

-Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty

We are in a very bad economic state and it looks like its getting worse. Without education and understanding of how all this started we can never finish it. Banks are creating NEW fees as the economy continues to crumble. Gift cards come with hefty fees and not all are created equal. Now, creditor firms are going to start charging for inactivity. Meaning, if you do not use your card you can be charged a fee. That’s right. Their justification for implementing this? To slow THEIR default losses. All these new banking fees being incepted while the nation is in its most vulnerable financial state in decades.

Its time to get out of debt people. Close your credit cards. Use cash. A certified credit counselor can help you create a household budget for FREE and review your credit card accounts to see if you could benefit from a debt consolidation plan and start ending this viscous cycle. Closing your cards and consolidating with a non-profit will lower the finances charges the banks are assessing and stop additional fees for delinquencies. You can be debt free, we can help. Call 800.905.1563 or visit our website freedomdm.org. Financial freedom for America starts with you and Freedom Debt Management. Were eliminating the nations debt one household at a time.  Join us.

Supreme Court to decide on student loans and bankruptcy

Tuesday, Supreme Court justices considered Espinosa's case in a closely watched dispute that could affect debtors and creditors nationwide when student loans cannot be repaid. Read the full story on USA Today, Joan Biskupic reports…

Gift Card Fees Often Found In Fine Print

Safe Holiday Shopping - What To Look For

The internet has made it quite convenient for people to shop online and many are making purchases from the comfort of their home versus trying to tango with traffic and mill through mall mobs for their one day every day deals and sales offers. Time is money and consumers are making good use of their time by spending online. While shopping online has many great advantages, like anything else, it has its downsides.

Below, weve compiled some of the best online shopping tips out there to help you avoid any online headaches when making your holiday purchases. Follow these guidelines and you may just end of saving more time and money.

ONE: Cater to credit and discard the debit. Using your debit card may seem more convenient and thrifty, avoiding creditor fees, etc but many banks are now assessing more fees to debit card charges than the difference youd pay in interest. More importantly, should you become a victim of identity theft your entire bank account could be drained using a debit card vs a credit card. Also, banks have made it more difficult to recover funds from debit fraud than credit card disputes.

TWO: Trace your transactions. Most online purchases provide a print option from the purchase confirmation page. This is a great tool if everyone had a printer, ink cartridges were half the price of a new printer, and or we wernt conservatively trying to save the planet. A better option is to take a screen shot of the confirmation page and email it to yourself, creating a folder on your desktop or in your email account labeled receipts. This is also ideal to do with your monthly bill pays. Ever so often an online payment may not have ‘processed’ and creditors are quick to hit you with a feee. If you screenshot and document all your online transactions you’re creating an E-trail to reference should something arise later regarding your purchases or payments.

THREE: Watch UR URLs. Number one / if you receive an email from an unknown source asking you to click through delete it. Delete it and permanently delete it. Most viruses are spread by email. Some gimmick about some fantastic deal that weve all fallen for. Along with email there any many phantom sites that mirror legitimate sites to make people think their on the official page and BAM! You’ve voluntarily given all your payment information to a hacker. Most of the bogus emails we mentioned earlier are directed to sites like these. You can identify these bogus bad boys by checking the url at the top (the web address). If it says http:target.com/sales/567/ghuytns%?wef or has sort or weird extension- get out of there asap. Also, you can indentify a secured page versus a non-secured page by checking the http at the beginning of the url. A secured page will have the http with an s, like https:// this ensures the information youre submitting is on a page protected page.

FOUR: Shop shipping and service fees. Surprisingly enough, some sites will allow you to make your purchase and enter your shipping details in anticipation of a swift delivery while they do not physically have the item in stock. They could also be a middle man with better online presence and have to order from the manufacturer as orders come in. This can really slow down your delivery and are often the case when you hear those horror stories of kids not getting their presents xmas day…not that its all about the presents right? ….Anyway, make sure the item youre purchasing is ‘in stock’. Look for shipping guarantees and read their policies. Skim the policy if you must but get the main points before clicking their buy now buttons. Become knowledgeable of their return policies and all their fees too. Sometimes the shipping and handling fees outweigh the savings you could have gotten going to the store yourself.  

FIVE: Spend your dime on your time. Please…don’t shop online while youre at work. Its bad enough were all face-booking during business hours and writing it off as –company networking- hogwash. Those employed should be very thankful to be in such a position as the current state of the economy plummets while unemployment rises. Losing your job and income because you were spending it at an inappropriate time is somewhat of an oxymoron. The movie Friday comes to mind…How ya gonna lose your job on your day off?! Keep the income coming and spend your dime on your own time.

Remember to always budget before buying. Know what you have to spend in accordance with your regular monthly bills. With proper money management you can easily avoid going overboard for the holidays and falling behind. For a free budget counseling session call one of our certified credit counselors 800.905.1563 and learn even more effective ways you can save money and be debt free with Freedom Debt Management. We are a non-profit financial counseling organization rated A+ by the BBB for educating America and helping people become debt free.

Economic's Downturn Impact On Average Americans

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Fix Credit: Dispute Negative Info on Your Credit Report

You as a consumer have rights under the Fair Debt Reporting Act to dispute negative information contained in your credit report. You can dispute negative or falsified information on your credit report by writing a dispute letter to the credit bureau that contains the negative blemish. This can usually be done online as well, while youre reviewing your credit report. Free credit reports are available through sites like annualcreditreport.com and disputes are enabled through a simple click through feature per each entry on the report. Once a dispute letter has been mailed or submitted online the law then requires the credit reporting agencies to take action for the consumer by conducting an investigation of said issue.

With these easy to follow steps you can easily write an effective dispute letter to the credit bureau.

Obtain your credit report: You can obtain a free credit report once a year or if you have been recently declined credit. Annualcreditreport.com provides a truly free credit report that can accelerate the process of sending snail mail. I mean, it is 2009…Order a copy from all three major credit bureaus. Experian, Equifax, TransUnion.

Become Sherlock Holmes: Read through your report with a fine tooth comb…or a slow scrolling mouse…Look for falsified information that may indicate you have been a victim of identity theft. Check the history of revolving accounts for false details, negative statuses, and outdated remarks that may be eligible to be removed.

Specify the items in dispute. Be very specific as to what item youre referencing and as detailed as possible as to what the dispute involves. If you have to use snail mail, send a copy of the credit report along with your dispute, circling which mark is being referenced. Online users can take a screenshot of the online credit report.

Separate the masses: If youre disputing several items youll want to send the disputes individually. As tricky as credit can be you have to imagine the men behind the curtain arent over willing to make that extra effort and sift through pages of email gripes or a manila folder as thick as a bible pointing out mistakes their organization has posted. Make it easy on the credit bureau to review each dispute individually. This is more to your benefit than theirs, trust.

Play nice: CAPPING every word isnt going to come off as cordial. As upset as you may be that you have erroneous marks on youre credit its best not to express yourself as a demanding impatient tyrant. Make your dispute personal and professional. Be polite. They can –read- your smile, lol.

Just the facts maam: Were not writing novels here. These are dispute letters. A definitive, professional, polite, one to two liner dispute per item. You have your goal, stick to it and lay out the facts. Point out the errors and request corrections and confirmations.

This is America! Keep in mind that you have the right to dispute marks on your credit report. Credit bureaus are required to investigate your dispute and can take up to 30 days to research and reply with the outcome of the investigation.

Follow up: Upon completion, you will receive a letter or copy of your credit report that shows their findings from the review. Should you not receive a response after 30 days send another letter reminding them of their obligation to respond and satisfy your submitted dispute. If you do not receive a reply thereafter your next step is to contact the FTC and file a formal complaint against the credit bureau. In the few cases where it escalates to contacting the FTC the disputed items are usually removed immediately for negligence and lack of evidence to support the negative mark.

More Help: If youre credit report looks like gibberish a non-profit credit counseling agency will usually review your report with you for free over the phone, via email, or in person should the service be local. Contact our certified credit counselors at our BBB Rated A+ non-profit credit counseling agency for a free review of your credit report and more helpful information to get your credit back on track. We help people fix credit scores and reduce debt through free financial information and debt elimination programs. Get on the road to financial freedom with Freedom Debt Management, 800-905-1563.