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William Manchee

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Getting the Mail Can Be Risky Business
5/4/2012 7:04:48 PM    [ Flag as Inappropriate ]

Consumers are constantly barraged with pre-authorized checks and pre-approved credit card solicitations and the tempation to accept them and their onerous terms is often overwhelming. But these solicitations are a trap set by greeder lenders hoping to lure the unwary into a lifetime of financial slavery.

Today I went out and got the mail and discovered I'd recieved a check made out to me for $6,000.00. All I had to do was deposit it and it was mine to spend. This happens all the time and I'm sure it has happened to all of you. Of course, I shredded it as the attached financial disclosure indicated the interest rate was 98%! But can you imagine if someone got that check in the mail who was desperate for money to pay bills or wanted something that they ordinarily couldn't afford. The temptation to cash that check would be staggering.

Along with the $6,000 check there were three credit card solicitations offering guaranteed acceptance with credit limits of $2,500 to $5,000. Of course the lowest interest offered was 29%. In the first quarter of 2010, according to the marketing intelligence firm, Mintel Compermedia, total credit card direct mail solicitation volume was 1.2 billion pieces! This is an unconscionable abuse by the credit card industry motivated by greed and a reckless disregard for their customers' well being. At a time when interest rates are ridiculously low and banks can get all the cheap money they want, they shouldn't be trying to fleece the American consumer. Unforturnately, credit card lending is so lucrative they can't help themselves.

So, I tell my clients they shouldn't feel guilty about filing bankruptcy as they have been lured into this credit trap by greedy lenders who care nothing about how predatory lending hurts the people who get caught up in it. When they lure people into buying things they can't afford they reap big profits but are unsympathetic when their customers lose their job or get sick and can't pay the bills

These finance companies, payday lenders, banks, and credit card issuers will turn on you the moment you get behind on a payment. They'll call and harass you, send you threatening letters, and destroy your credit without giving it a second thought. I see this everyday and it sickens me. I got so angry one day I wrote a poem about it one night. It's called Plastic and you can read in my novel, Plastic Gods, A Rich Coleman Novel, Volume 2.

So, when you go out to the mailbox marshall all your strength and will power, and do what I do, immediately shred any credit card applications or preauthorized checks that you find. Also, look in your credit card bills and shred any unsolicited checks that they slip into the bill so they won't be a temptation in the future. You have to be vigilant to avoid the credit trap, but you can do it!

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More Blogs by William Manchee
• Why Many Intelligent and Talented People Fail in Business - Monday, May 07, 2012
•  Getting the Mail Can Be Risky Business - Friday, May 04, 2012  
• Consumers Suffer Grievous Injury When Creditors Improperly Report Their Credit after Bankruptcy - Thursday, May 03, 2012
• The Effect of Print on Demand to the Small Press Author - Monday, July 04, 2011
• Nine-Eleven's Impact on the Small Press Author - Sunday, July 03, 2011
• Has Your Mortgage Company Ripped You Off? - Saturday, August 07, 2010
• Wrongful Foreclosure - Tuesday, February 16, 2010
• Don't Throw Away The Evidence - Friday, January 15, 2010
• Brandy - Saturday, October 17, 2009
• Why I Write in Different Genres - Wednesday, August 12, 2009
• Cash for Clunkers Bad Idea for Many Consumers - Monday, August 03, 2009
• Beware of Debt Negotiators - Tuesday, May 05, 2009
• Top Ten Reviewers - Tuesday, April 28, 2009
• Debt Collector Put Out of Business In Texas - Sunday, April 26, 2009
• Defending the Small Business - Part 23 - Changing Your Ways - Tuesday, April 07, 2009
• What Every Bankruptcy Filer Should Know - Part 3 - Will Filing Bankruptcy Ruin Your Credit? - Thursday, March 19, 2009
• Defending the Small Business - Part 22 - Bookkeeping and Accounting - Wednesday, March 11, 2009
• Chill, It's No Big Deal - Sunday, March 01, 2009
• What All Bankruptcy Filers Should Know - Part 2 - Wednesday, February 25, 2009
• Defending the Small Business - Part 21 Form of Business - Thursday, February 19, 2009
• What Every Bankruptcy Filer Should Know - Saturday, January 31, 2009
• Defending the Small Business - Part 20, Getting an Attorney - Sunday, January 25, 2009
• Defending the Small Business - Part 19 - Employees, Double Trouble - Sunday, January 11, 2009
• Defending the Small Business Under Siege - Part 18, Loan Consolidations & Workouts - Sunday, January 04, 2009
• Defending the Small Business: Part 17 - Bankruptcy: Friend or Foe? - Monday, December 29, 2008
• Tarizon: The Liberator Launch Update - Friday, December 26, 2008
• Defending the Small Business - Part 16 - When the Constable Knocks - Friday, December 05, 2008
• Defending the Small Business - Part 15 - State & Local Taxes - Saturday, November 22, 2008
• Defending the Small Business - Part 14 - Dealing With IRS Collections - Wednesday, November 12, 2008
• Defending the Small Business - Part 13 - Uncle Sam, The Sleeping Giant - Thursday, November 06, 2008
• Defending the Small Business - Part 12 It's Not As Bad As It Looks - Monday, November 03, 2008
• Defending the Small Business - Part 11. Misfortune - Tuesday, October 28, 2008
• Defending the Small Business: Part 10. Competition - Thursday, October 23, 2008
• Defending the Small Business. Part 9. Theft & Embezzlement - Monday, October 20, 2008
• Defending the Small Business - Part 8. Greedy Lenders - Sunday, October 19, 2008
• 7 - Defending The Small Business: The Credit Conspiracy - Saturday, October 18, 2008
• 6 - Defending the Small Business - Giving it away. - Thursday, October 16, 2008
• 5. Defending the Small Business: Starting on A Shoe String - Wednesday, October 15, 2008
• 4. Defending the Small Business: Suffocation - Tuesday, October 14, 2008
• 3 - Defending the Small Business: Looting - Monday, October 13, 2008
• Understanding the Current Economic Meltdown - Saturday, October 11, 2008
• 2 - Defending the Small Business - Doomed From Day One - Saturday, October 11, 2008
• 1 - Defending the Small Business: Introduction - Friday, October 10, 2008
• The Stan Turner Mysteries - Sunday, March 25, 2007

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