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Thread: Debt Reduction Act

  1. #1

    Debt Reduction Act

    The Middle Class Debt Reduction Act is a resetting / capping as it were of the interest rates that banks, credit card companies, title loan companies, Pawn shops, and other "lenders" can charge responsible Middle Class Americans.

    Institutions attempting to charge higher interest rates for credit card and other Middle Class held would be held in violation of usuary laws (i.e. making it illegal, by law, the charging of interest rates that could be viewed as exorbitant....almost akin to "loan sharking").

    The net result would be that interest rates for your debts would be capped and lowered to more "reasonable" / affordable levels.

    Your payments for financial obligations would be reduced thus allowing you more money to save for the future, expand your small business, make necessary repairs to you vehicles and home.....All this without hurting your credit score and helping to stimulate America's economy.

    One of the benefits of middle-class debt reduction act is that it is a more "gradual" method for reducing middle-class debt (at least from the lender's perspective) as opposed to the more immediate nature of the debt forgiveness plan's simple (yet effective) forgiving of Middle Class debt.

    Furthermore, this method has the benefit of not having to go to be tried in the court system in order to achieve a judgement and subsequent restitution plan (i.e. as our debt forgiveness program may require) for prior wrongs.

    The Middle-Class Debt Reduction Act is a plan that can be utilized by the current administration prior to the implementation of our debt forgiveness program ( NOTE: As an organization, Middle Class America will take the time to present this plan to our current " powers that be" ...If they choose not to implement such a program through legislation, we will continue to petition our legal representatives until we ultimately form our own political party to make our own legislation the law of the land for YOUR benefit....The hard working / responsible Middle Class American.

    Middle Class America would strongly support this proposal.

    Questions?, Comments?, Concerns?

    We'd love to hear from you.....This is YOUR legislation, this is for YOUR benefit, let us know how we can help YOU.
    Last edited by Andrew King; 06-30-2013 at 02:27 PM.

  2. #2
    Today, it seems that everyone has debt. Besides unemployment, gas and oil price hike, debt rate is another thing that we are all worried about. According to Pew Research Centerís report, during the last decade, the debt rate has dropped drastically for American young adults. It sounds a good news, but the truth is it suggests a very unpleasant pattern. Read it here: Debt Rate.

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