Debt Consolidation, Debt Management and Debt Settlement

Federal Debt Relief System - Anyone know about them?

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Posted: Wed Jun 04, 2008 2:15 pm Post subject:

OK let me be a little more clear. FDRS does NOT do all of the program themselves! They out source to a network of attorneys that get people out of debt. The attorneys are the ones who are 100% successful. LOOK FOR THEM THEY ARE OUT THERE JUST GOOGLE.

helpfulone
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Posted: Wed Jun 04, 2008 2:19 pm Post subject: reply

nice helpfulone,oh and willy try not to insult this time.haven't seen one of your posts that wasn't an attack post.

paulmergel
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Posted: Wed Jun 04, 2008 6:52 pm Post subject:

Personal attacks will not be tolerated. Do I make myself clear? - Uncle Wulf

Willyammer

Joined: 16 May 2008
Posts: 36

Debtcc Points: 573

Posted: Wed Jun 04, 2008 7:58 pm Post subject:

Willy you need to understand that these creditors are huge fortune 500 companies companys. They are naturally going to have a ton more complaints than FDRS because the do a billion times the business.

Quote:

Here is what the BBB said about these banks you mentioned.

Based on BBB files, this company has a satisfactory record
BBB Definition:

satisfactory record - A business identified in our report as satisfactory has, based on BBB files, been in business for at least one year, and has voluntarily provided the BBB with all information requested about the business and its product or service. If any complaints have been received about the business, their number has not been considered by the BBB to be extreme, given the nature of the company's business and the volume of business transacted. Complaints are also generally typical of what might be expected for this type of business. A business stated to be satisfactory has not been the subject of any recent law enforcement actions concerning its dealings with the public. If the business has been contacted by the BBB about its advertising or selling claims, it has modified or substantiated its practices to the BBB's satisfaction. In addition, the BBB has a clear understanding of the company's business, and the business is not in an industry which has raised significant marketplace concerns.
with the BBB.

Here is what the BBB says about FDRS

Complainants allege unfulfilled contracts, misappropriation of funds, and misrepresentation of services. Customers complain they send monthly amounts to the company believing their bills were being paid, when in fact; no bills were paid on their behalf. Other complainants report they are advised not to deal with their creditors, but soon find themselves being sued for the amount of the debt. Most complainants request refunds.

The company responds to most complaints by disputing complaint allegations, and accusing the customer of failing to comply with the terms and conditions of their agreement. The company reminds clients that the contract makes no guarantees to the success of the program

What I find hilarious is that of all these banks not one had any unanswered complaints. They at least properly addressed the complaint and attempted to resolve it. FDRS has 16 Unanswered complaints. That is a major problem. They basically choose to ignore about half the complaints brought to them by the BBB.
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mobile0311

Joined: 05 May 2008
Posts: 1350

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Posted: Thu Jun 05, 2008 9:58 pm Post subject:

unclewulf, your new icon looks much better than the old one. MUCH!!! See, I have once again said a nice thing about you. Not sure why or HOW you logged in using my info. Moderators? Is this kosher/allowed?

Willyammer

Joined: 16 May 2008
Posts: 36

Debtcc Points: 573

Posted: Thu Jun 05, 2008 10:21 pm Post subject:

mobie, "Willy you need to understand that these creditors are huge fortune 500 companies companys. They are naturally going to have a ton more complaints than FDRS because the do a billion times the business." If the above statement is true, then why do they not have worse ratings? As I read the copied/pasted generic BBB listing, it gives them an out! Amazing. By the way, which bank was the rating from? What about the other banks? They can't ALL have gotten a clean bill. If they have, then that in and of itself proves that there is lint in the pudding. My jaded belief is that the big boys, of which so many of you defend, use their power and $$ to influence the BBB. For some reason that I cannot fathom, some even find it "hilarious" that the banks and CC companies can afford a full time law staff to come up with legal ways to screw us over and answer BBB complaints in their spare time. Mobie, you back up FDRS by posting the BBB statement about them: "Complainants allege unfulfilled contracts, misappropriation of funds, and misrepresentation of services. "Customers complain they send monthly amounts to the company believing their bills were being paid, when in fact; no bills were paid on their behalf." As I've read from posts on this site and from the company's site, the customers are NEVER told their bills are being paid. PLEASE PEOPLE: The basic tenant before doing anything with your money is research what the company you are paying is going to do with your money. Common Sense. "Other complainants report they are advised not to deal with their creditors, but soon find themselves being sued for the amount of the debt." Posts here and on the company site say you very well might be sued. Which is why the company requests/demands that any/all correspondence be sent to them ASAP so they can get it to the lawyers they hire ASAP so they can fight for you ASAP. FDRS does NOT offer a magic wand. It's a hard road, as MANY people here have told, including those with positive and those with negative feelings about the company. "The company responds to most complaints by disputing complaint allegations, and accusing the customer of failing to comply with the terms and conditions of their agreement. The company reminds clients that the contract makes no guarantees to the success of the program." The early panickers who are also the most vociferous complainers, are proof in point. Mobile: Please answer the question at the bottom. Total U.S. consumer revolving debt reached $904 billion in June 2007, up from $879 billion at the end of 2006 (Source: Federal Reserve). Now add mortgages and other secured debt (automobile loans, for instance). Where did the banks get that money to loan?

Willyammer

Joined: 16 May 2008
Posts: 36

Debtcc Points: 573

Posted: Fri Jun 06, 2008 9:55 am Post subject:

Willyammer wrote:

Not sure why or HOW you logged in using my info.

Moderators? Is this kosher/allowed?

You're a little slow on the uptake, aren't you, Willy? Maybe you should learn to read things fairly. It really does broaden the mind. If you'd been paying attention all along, you would have noticed that I am a moderator. You'll find the tag below my user name, to your immediate left.

As for some of the attacking posts and such... Cool it. Immediately. You do not want to become my new favorite hobby.
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unclewulf
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Posted: Fri Jun 06, 2008 9:56 am Post subject:

Willy , Moderators are allowed to edit your posts when they are personal attacks. Uncle Wulf is a moderator and thus can do that when he feels your are being inappropriate.

Also Willy , you never explained to me why FDRS is not cable of responding to BBB complaints. The have 17 Unanswered complaints and counting. That means they choose to ignore complaints brought to them. If they were not a bunch of con artists they would at least address the complaint and try to resolve it right ? That is at least what the big bad horrible banks do. They out of the thousands of complaints they had didn`t have a single complaint that wasn`t answered and addressed and yet FDRS can't even do that. Give me a break.

Where did the banks get that money to loan? This article should better explain

Quote:

The Federal Reserve and Monetary Policy

The Federal Reserve regulates banks by requiring them to hold a certain amount of their assets in a form that does not earn interest. Prior to the Depository Institutions Deregulation and Monetary Control Act (DIDMCA) passed in 1980, only banks that were members of the Federal Reserve system had to obey these regulations. National banks, banks that had received their charter from the Comptroller of the Currency which is part of the U.S. Treasury Department, had to belong to the system. But state banks, which had gotten their charters from state banking authorities, did not have to belong, and most did not. Because the regulations to hold assets that do not earn interest were costly for most banks, most new banks during the 1960s and 1970s were chartered as state banks, and the percentage of deposits held in member banks declined during this period. This decline worried government policy makers and was a major reason for the change in regulations in DIDMCA. Now all financial institutions that issue deposits against which checks can be written are subject to the same reserve requirements.

We saw that banks created money as a by-product of their quest for profit. Banks are limited in the process of money creation by the need to hold some assets in the form of reserves. In the early days of banking, banks needed reserves so that they could redeem deposits or notes on demand. Today the amount of reserves and the form that they take are determined by government regulation. In the United States only vault cash or deposits held at a Federal Reserve Bank can serve as reserves. The amount of reserves that banks must hold is calculated as a percentage of the deposits they hold. This percentage is called the required reserve ratio. In equation form, required reserves are computed as:

(1) Required Reserves = (Required Reserve Ratio)x(Deposits).

Banks can hold more reserves than are required. Any reserves above what are required are excess reserves, or:

(2) Excess Reserves = Legal Reserves - Required Reserves.

Banks prefer not to hold excess reserves because in doing so they sacrifice the opportunity to hold other assets that earn interest and because today there are no benefits in holding excess reserves. Since 1960 the amount of excess reserves held in the banking system has been only a small fraction of total reserves.

If excess reserves can be ignored, then any change in either reserves or in the required reserve ratio will change the amount of deposits people hold, and thus the amount of money in circulation. Banks by themselves can change neither. Although the public can cause changes in both, most changes in them are the result of the Federal Reserve System using its three policy tools.

The first policy tool, which has not been used as a tool of monetary policy for decades, is the ability to change the required reserve ratio. If the Federal Reserve increases this ratio, the banking system is forced to destroy money, and if the Federal Reserve decreases this ratio, the system is encouraged to create money.1

Although it too has been a minor policy tool in the past two or three decades, the discount rate is a second policy tool the Federal Reserve possesses. One way a bank can obtain reserves is by borrowing them from the Federal Reserve. When the Federal Reserve charges a high interest rate for these borrowings, banks will not borrow as much reserves as when the Federal Reserve charges a low interest rate.

The third and the only policy tool of importance today is open-market operations.2 In open-market operations the Federal Reserve buys or sells U.S. government securities, usually T-bills, in the secondary market.3 When the Federal Reserve buys securities, it creates the funds with which it buys T-bills. It pays with a check drawn on itself, and when a commercial bank submits this check for payment, the bank gets reserves that did not previously exist.4 The process by which the Federal Reserve creates bank reserves parallels the process by which banks create money. A major difference is that the creation of bank reserve is not a by-product of a quest for profit. On the contrary, any profit is a by-product of an attempt to maintain some level of reserves. Indeed, if a modern central bank set out to maximize profit, it is doubtful that the monetary system could long survive.

Decisions about how these three tools will be used are reached by twelve people serving on the Federal Open Market Committee (the FOMC). The FOMC meets each month and determines what the monetary policy of the United States will be. This control over monetary policy means that the twelve people who serve on this committee are among the most powerful people in Washington. Seven of these twelve make up the Board of Governors of the Federal Reserve System. The governors are appointed by the President and confirmed by the Senate for 14-year terms. The other five are presidents of the Reserve banks. The president of the Federal Reserve Bank of New York always serves on the FOMC, and the other four positions rotate as one-year terms among the other eleven presidents.

The banks have the legal right to create money.You may not like it but the United States economy is based on the banks being allowed to create money. Too bad. The law is on their side and thats what keeps our economy running. I am not just saying that FDRS is a scam , I am saying all debt termination companys are a scam. They don't work.

These companies claim that the debt that you have incurred is not really legal debt. They base their actions on Title 15 United State Code, section 1692, the Fair Debt Collections Practices Act, section 1601, the Fair Credit Billing Act and the Uniform Commercial Code, section 203. Many of them also claim the Declaration of Independence condones these actions, while other times they question the authority of the Federal Reserve and the legitimacy of the U.S. dollar.

Here's how it all works, for a large upfront fee of usually $2500 to $3500 you get to listen to or read their rhetoric about these supposed legal loopholes that they have found and then you are issued a bogus certificate that you are instructed to take to your bank and creditors. This magic certificate sites these loopholes and is supposed to eliminate your obligation to pay your credit cards, mortgage, car loans and other debt. Many of these companies also offer their followers access to their panel of legal experts whose superior knowledge of the law and silver tongues will keep you out of trouble.

Now here's what they don't tell you, these idiots influence on desperate people has caused more than one eyebrow to be raised and the offices of the Federal Reserve Board and the Office of the Comptroller of the Currency (which regulates the national banks)have sent out notices and alerts to all of the banks that they regulate. These alerts order banks to immediately confiscate any documents that the customer brings to them and to also send a suspicious activity report to the FBI. This report is the real deal people; it's the very same report that's used to alert the FBI to money launderers, and terrorists activities.

Here is what the FBI said

Quote:

From the FBI 2003

Beware of scams like these --
Debt or mortgage elimination offers. The perpetrators of these schemes offer to take advantage of 'loopholes in the system' that will eliminate your entire mortgage for an up-front fee. Don't believe it. There are no "loopholes."

Federal Bureau of Investigation: Fraud Alert

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mobile0311

Joined: 05 May 2008
Posts: 1350

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Posted: Fri Jun 06, 2008 10:52 pm Post subject:

Mobile, you say “Willy , Moderators are allowed to edit your posts when they are personal attacks. Uncle Wulf is a moderator and thus can do that when he feels your are being inappropriate.” I totally agree with that standard. But check the sixth post down on page 20. Someone posted as me. Do you really feel it is okay for someone to post something using another posters name and icon? That is wrong. Especially for a moderator. That practice wreaks of all the things this forum and the USA (at least the good old USA) stand against. Finfan13? Cajunbulldog? Anyone? That moderator should be booted from this forum. And who have I attacked? Show me one "attack". I have pointed it out when posters only post fact-free opinion and spread their fears and hate. Is that considered an attack? The only people who make the “attack” claim are these same fact-free, vitriol spewing posters.

Willyammer

Joined: 16 May 2008
Posts: 36

Debtcc Points: 573

Posted: Sat Jun 07, 2008 7:19 am Post subject:

Willyammer wrote:

But check the sixth post down on page 20. Someone posted as me.

Do you really feel it is okay for someone to post something using another posters name and icon? That is wrong. Especially for a moderator. That practice wreaks of all the things this forum and the USA (at least the good old USA) stand against.

Let me 'splain it to you, Willy. I'll use small, easy words, so maybe you'll understand.

It is not OK for anybody here to post as someone else by using that person's login credentials, etc. "Name and icon" as you refer to it. Unless, of course, that person has the account-holder's permission in advance to do so. I've done that from time to time, when I was working to resolve account issues at the request of other members.

It is OK for a moderator to edit a member's or guest's posts in any way the moderator sees fit, if said member or guest violates the accepted rules, customs, or ToS of this site. That's part of what moderators do here. In short, I did not post as you. I edited your offensive post, and signed my handiwork so everybody would know who did it, and why.

Attacking other members/guests/moderators/whatever is such a violation. So is promoting a scam with the intent to decieve. So are several other of your activities.

Straighten up. Now. Or else.

Willyammer wrote:

Finfan13? Cajunbulldog? Anyone?

That moderator should be booted from this forum.

Be careful who you ask for help. You'll likely find those two to be tougher than I am. Maybe you should get one of your half-baked attorneys on the case, huh?

Willyammer wrote:

And who have I attacked? Show me one "attack".

You're kidding, right?

Look at the next part of your own post. Posting articles from a state Bar Association does not constitute being a "fact-free, vitriol spewing poster." In my book, that constitutes "being a responsible member of this forum" and "trying to debunk a scam."

Willyammer wrote:

I have pointed it out when posters only post fact-free opinion and spread their fears and hate. Is that considered an attack? The only people who make the “attack” claim are these same fact-free, vitriol spewing posters.

With your own words, you prove my point. Stop attacking other members. Stop promoting scams. Stop being a pain. Like I said, you really don't want to become my new hobby.

Now that I've explained that much to you, maybe we can get on with a civil discussion. If not, I'll lock the topic. Play nice. Or else.
_________________
Wulfisms: my blog

The four 'no's of dealing with collectors:
No validation? No payment. No way! No kidding!!

Tellin' you all the zomby troof
Here I'm is, the zomby woof
[Frank Zappa, 1988 - R.I.P.]

unclewulf
Moderator

Joined: 27 Nov 2007
Posts: 2432

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Posted: Sat Jun 07, 2008 7:37 am Post subject:

Willy perhaps you should get familiar with the forum rules. If you don`t like Uncle Wulf editing your posts than you have two choices either play nice or quite posting here. Its that simple .

Quote:

Do you really feel it is okay for someone to post something using another posters name and icon? That is wrong. Especially for a moderator. That practice wreaks of all the things this forum and the USA (at least the good old USA) stand against.

Perhaps unclewulf is part of the government conspiracy with the banks and the US government.I bet he is behind the whole money creation scheme. Thats it. As a matter of fact maybe this website is one big conspiracy working for the banks and all the moderators are in on it. You live in Hollywood so perhaps you can make a movie about it.

Unclewulf is doing his job as a moderator. Like I said if you don`t like the rules of this forum than don`t post here.
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Losing doesn't make me want to quit. It makes me want to fight that much harder. - Paul "Bear" Bryant

mobile0311

Joined: 05 May 2008
Posts: 1350

Debtcc Points: 7169

Posted: Sat Jun 07, 2008 1:04 pm Post subject:

Wow. Willyammer, I'm sorry, but I don't know what you're upset about. You said page 20, sixth post down, right? All I see on the sixth post down on page 20 is where Uncle cleaned up an inapropriate post. Plain and simple, he was moderating. No mod logs in as anyone..We have the right and ability to erase offensive posts. Personally, I think Uncle is being nice to you. I wouldn't pi$$ him off! I said I would address the situation. Situation addressed. My advice to you? Keep your posts attack free and no moderator on this board will have to clean up. _________________ "It's a treat, being a long-distance runner...." Allan Sillitoe, The Loneliness Of A Long-Distance Runner

finsfan13
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Joined: 17 Feb 2006
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Posted: Sat Jun 07, 2008 2:46 pm Post subject:

What was edited? I don't recall what I supposedly posted and I would really like to see what was so offensive. If you can't print it here, please send what was edited to me at my personal email address so I'll know for the future. Thanks.

Willyammer

Joined: 16 May 2008
Posts: 36

Debtcc Points: 573

Posted: Sat Jun 07, 2008 3:10 pm Post subject:

I don't know what the post was, I didn't see it. All I can say is this: As mods, we are required to make judgement calls. There are a certain set of rules that all posters must follow. These are defined in the TOS, which you can click on at the top of the home page and read. If we (mods) feel that a post does not follow those TOS, it is within our rights to either edit or delete the post. As far as what we consider offensive on this site..Any vulgar language, crude references, or anything that could possible hurt another poster's feelings. _________________ "It's a treat, being a long-distance runner...." Allan Sillitoe, The Loneliness Of A Long-Distance Runner

finsfan13
Moderator

Joined: 17 Feb 2006
Posts: 7018

Debtcc Points: 59833

Posted: Sun Jun 08, 2008 5:00 am Post subject:

Any mod can edit any post to their desire to keep this forum in compliance with our rules.You have been asked by three moderators to tone your posts down.Adults can have a debate without resorting to personal digs.You would be wise to listen to our advice as it has a direct effect on your continued ability to post here on our forum. Lastly please don't bore me with your rights under the first amendment as it does not apply to a privately run board. _________________ Cajunbulldog Keeping an eye out for consumers. http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809 http://www.ftc.gov/os/statutes/fcrajump.shtm http://www.debtconsolidationcare.com/forums/about216.html Use this letter to protect your rights under the FDCPA myfairdebt.com & myfaircredit.com-Good source of case law in forums.

cajunbulldog
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Joined: 20 Dec 2006
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Posted: Sun Jun 08, 2008 10:02 am Post subject:

All I am saying is I did NOT post anything and that wolfie posted as me. Wolfie, let us (me and your fellow moderators) know what was edited, if anything. If it was so heinous as to warrant deletion, you should have kept a copy. I'm still not sure why my replies are considered "personal digs". I've looked back at my replies and they are only requesting that people research their answers and post facts. If people want to post opinions and rants, even those void of facts, it seems that they can, as long as they agree with the moderators point of view. Yet when someone calls these posters on their un-researched, fact-free rant, their posts are considered "attacks" and "personal digs". Except when directed at me.