While Americans worry about their FICO scores on credit reports and allow credit card debt to drive them needlessly to the brink of insanity, a very few people totally understand the erroneous nature of these things and do not worry about them because using federal law will wipe them from your life forever if you choose to use your constitutional rights.
No doubt you are in total disbelief of these statements but if you're willing to invest your time to learn simple facts, many of which you already know then you can see how all these things have been woven into a veil of deception that keeps unknowing citizens sweating blood over a silly FICO report and doing all kinds of insane things like consolidation loans to keep their card debt account going.
The only really meaningful question is do you want to take the time to educate yourself and learn the real truth? If so, use the search term "the gig is up-- money, the Federal Reserve and you" to watch this enlightening Google video presented at The University of Colorado School of Law, on December 4, 2008 by a young attorney specializing in constitutional law.
A word of warning must be given to any reader of this article. You may find yourself watching the "gig" more than one time and you could spend time searching for quotes referenced in the video to be sure they are real. Many, you already know about from bits and pieces of history that cling to your memory. No matter how much time you spend, it will be the best history lesson you will ever see!
Having watched the gig you know your credit card account only exists in a computer memory somewhere in cyber land. It can be deleted from memory without causing harm to anyone except some banking institution losing an account entry that will cause their net worth to be devalued. It operates like the stock market; if things are good the market goes up and if it is bad the market declines.
By federal law your account is closed and written off by the bank after six months of nonpayment at which time bankers, trying to save face and continue the deception, sell your account information to a debt collector that will try to coerce money from you by claiming that you owe him. You know exactly how the scam works.
To make the collectors disappear using federal law in the same way you make your card debt disappear, use the search term "FTC debt video" and watch this cartoon show several times to get its true meaning. Beating collection calls over the phone and answering written collection notices are all that are required of you to put the collector in the unemployment lines with your friends and neighbors.
The almighty credit score is the last problem you'll need to deal with. You can make any negative disappear from your credit report using section 609 of the Fair Credit Reporting Act using section E. which describes how information must be removed when it cannot be verified. Guess what students; not a single shred of evidence can be verified by any credit reporting company.
This author sincerely apologizes for the length of time you spent going through this article but smiles when you realize you've been worrying about some FICO credit score and credit card debt that are all illusions created by the money changers and easily dealt with when you use your Constitutional rights and invoke federal law to make it all go away! Live life and have fun!