The Spoils of DEBT

To explain the concept "The spoils of debt" I have to use the spoils of war as an example.  The spoils of war can best be described as "Any profits extracted as the result of winning a war or other military activity"  

Why would anyone winning a war take from the defeated what they- the defeated need to survive on?  - A good example to illustrate this is the spoils of the war in Iraq. The spoils of that war are the oil the United states are taking out of that country. I think most rational people will agree with me that this act is unethical, immoral, unprincipled and indefensible. A word that sums this up perfectly is unconscionable 

The spoils of debt are exactly the same:  People deep in debt loose everything when the banks go to war against them - They will use every weapon available to them to extract every cent a person have, to try and settle their debt. They will sell everything he has, his house, his car, attach his salary, attach his loose assets, drag him to court to explain why he is not paying etc,etc.

Then when everything has failed and they have judgments against the person and there is nowhere to extract any money from them anymore the creditor - or bank - will write the debt off against "bad debt" and then claim this off their profits against tax.   Nothing funny so far?

Normal run of the mill and accepted as the norm.  

Now, this is where the spoils of debt come in - There is a secondary industry that feeds on these debtors like leeches - it is the industry of buying bad debt and starting the spoils of debt cycle. 

These people created an industry where there are no conscience, no ethics, no morals, no principles and their actions are indefensible. It is driven by Unconscionable greed. They are living on the spoils of debt.  And they employ half trained, arrogant call center based staff to start haunting and harassing these victims of the financial war.  

And society again accept this as normal - 

Well, it is time to start the fight against this  -

So - to those in this industry - a new war has started and you just might not like it.

Everyone that wants to get involved please do. Watch this space as I am going to start drafting defense mechanisms on how to handle the situation when you are the victim of this. 

The first line of defense is Prescribed debt.  In terms of the latest changes to the NCA it is now illegal to even try and collect on prescribed debt. It is illegal to sell or buy Prescribed debt.  So the first thing when you get an SMS or call about a debt older than 3 years is to define the debt - If there is no judgment on the debt it most probably has prescribed and the would be collector is breaking the Law.  Report it to this forum - We will send you a template to handle the situation.

Here  is my guide on how to handle debt collectors calls 

I am also in the process of researching the legal standing of these types of debt - the ones where there are judgments and I will comment on this later. 
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The Book

"THE BOOK" has had a long way in becoming a reality. This morning I read an article that was emailed to me - somehow confirming what I had already decided on last week. It is time.SETTING GOALS to eventually get the book published is not the answer .  The answer is to get into the habit of writing at least 500 words daily until the book is ready and I took the first action this morning . I WILL BE POSTING REGULARLY ABOUT THE BOOK   here - and any constructive comments will be appreciated.......................
The general public have a lot in common when it comes to debt and a lot of you out there can relate a lot to the following article: ( This is going to be in the preamble to the book)

People deep in debt has one thing in common...that dreaded feeling of helplessness - I am drowning and no one is even noticing.
Read the following carefully right to the end.

There are basically two parties to a debt: The creditor and the debtor - If you are the first party please leave as you are going to be offended and the intention is that you should.
The ones now left are the debtors deeply in debt and having a feeling of hopelessness. You are drowning in debt and there is not much you can do about it.

Take a deep breath and read on ( take your time - this is not a quick fix but if you skip paragraphs you are not going to get the message)

I am going to tell a story here and you are most probably going to be the main character of this story
I am going to call him Consumaris

The following quote comes from the Bible and just so vividly describes the position Consumaris eventually found himself in: "A man was going down from Jerusalem to Jericho, and he fell among robbers, who stripped him and beat him and departed, leaving him half dead"

I will explain the application of the above quote at the end

Consumaris was on top of the world- He was general manager of a specialist chain of jewelry shops around the country earning a pretty penny. He has worked his way up the corporate ladder one step at a time and now after 35 years of service is as high as he probably would be able to go in the company but he is feeling fine - He earns a 6 figure income per month and has a nice house and 2 grand cars and both his children is now nearing the end of their university adventures. He has recently bought a new house and have a home loan on this as well as some other debts amounting to about 40% of his income which still leaves him with a nice margin to live comfortably.

This morning his whole life fell apart - he was called in by the CEO informing him that an international company has recently become the major shareholder in the company and that they had evaluated the companies present strategies and have decided to make an a major player online and that certain staff will be retrenched with immediate effect, and that he was one of them. 

6 months down the line the crunch was getting to him - his cash flow was running low and he knew he would have to sell the house to keep his head above water. 

3 months later there were no more cash left and he knew he was seriously in trouble - so far no interested buyers for the house and he will not be able to make the end of the month repayment on the house.
The bank was very sympathetic but made no stories about what would happen if he started to default. 

"A man was going down from Jerusalem to Jericho, and he fell among robbers, who stripped him and beat him and departed, leaving him half dead"

THE BOOK IS GOING TO ADRESS THIS SITUATION AND QUITE A FEW OTHERS TO ENABLE PEOPLE TO LIFT THEIR HEAD, PREPARE FOR SITUATIONS LIKE THESE AND KNOW HOW TO HEAL AGAIN.