Dealing with Debt- settle for half

THIS IS NOT LEGAL ADVICE, YOU SHOULD ALWAYS SEEK THE ADVICE OF AN ACCREDITED BAR LAWYER/LIARYER AND DO YOUR OWN RESEARCH. YOU ARE RESPONSIBLE FOR YOUR OWN ACTIONS.
Canada's debt-to-income ratio has reached an all-time high of 163.3%.
Many people are one payment away from losing it all; Canadian households now owe $1.83 for every dollar of disposable income they have.

They owe it all to ruthless giant corporations who charge extreme interest rates and make billions; I've often wondered who owns these banks and credit card companies, who's making billions of dollars every year by charging criminal interest rates and fees for things like credit cards and cell phones.

There is a process that happens when people can't make payments;
First, the original company people owe the money to send out notices for a number of months, they will call you. Nowadays I've noticed they don't even use people anymore, robo calls using machines constantly call people. I REFUSE to deal with a stinking robot, and will never follow their instructions. I block their numbers on my phone.

Even without debt, trying to get a human on the phone to deal with issues and problems with your account you are often forced to wait for hours on the phone. My time is my most valuable asset, I refuse to waste it on a phone.

Second, over time of about 8-12 months, the debt will be transferred to a third-party debt collector who gets a cut of the debt they collect. You need to understand these corporations who make millions, even billions lose some money when people go bankrupt, BUT its all a tax right-off for them; They get their money one way or another, so don't shed a tear for these big corporations, they win no matter what happens in the economy.

When the debt gets transferred to a third-party collection company they often use ruthless tactics to try to get you to pay; threats, intimidation, harassment, even insults. But I've learned YOU have rights, such as they can not constantly harras you, and, every collector working for these debt collector agencies has to have a license to operate, so, you can DEMAND to know their name and license number before they can even begin to negotiate collections. If they refuse to give it to you, you can file a complaint with government bodies that oversee and issue these licenses. Once they know you know your rights, they tend not to use ruthless tactics and be a little more polite and cautious when contacting you.

Most people don't know that they can negotiate to settle debts for half, or sometimes less. You have nothing to lose by offering any amount, you'll be surprised and elated when you realize you can settle for a fraction of what you owe. The feeling is empowering and takes a load off your conscious.

I personally have no problem telling these big corporations to go fuck themselves. In previous years I have told these companies to do just that, I've not paid some credit card companies a single penny, and I've never been dragged into court by using tools that have been passed around the freedom movement. The "five letters to deal with debt collectors" http://www.sovereignsolidarity.com/Remedy-in-Law.html [scroll down the bottom of page]
Read the "Bills of Exchange Act" too, it recognizes your rights to "protest for security" and by demanding to make payment in exchange for the original "contract" with the ORGINAL signatures. Learn the law, your rights, and the "technology" to defend yourself, which is what the five letters are based on, your rights. "Ignorance of the law is no excuse"

Though as I get older and have more income, I've wanted to keep my credit rating good so I can purchase big ticket items like my Volvo EV.

Over the years of not paying a dime, I've learned by having companies making offers to settle for less than half of the original debt. It is from this experience that I've learned firsthand how to settle debts for much less than the original amounts. YOU DO NOT NEED TO PAY SOME COMPANY TO SETTLE YOUR DEBTS.