Old Project Avalon Forum (ARCHIVE) - View Single Post - Clear Your Debts 70% of Credit Agreements Are Unenforcable Therefore NON repayable.

Average Joe · 11-07-2008, 09:48 PM

Zorgon.

Yes you would have £5,000 in savings across the banks.

But in paying £135 a month across those cards over a year you would still owe £4,000 approximately on the cards.

Net result = £1,000 profit approximately.

Except you have paid £1,670 out of your monthly salary to have this £5,000 savings and £4,000 debt. (£1,000 net profit)

Yeah, you'd have a great credit rating, but in reality you have LOST money not gained it.

Here is the simplest way to do it..... open no secured credit card accounts and save £135 a month. Then you have £1,670 plus a bit of interest at the end of the year.

If anything you draw has interest applied to it, and you do not pay the full balance off within the interest free period, you will LOSE money, no two ways about it. Then debt accumulates.

11-07-2008, 09:48 PM	#68
Average Joe Avalon Senior Member Join Date: Sep 2008 Location: UK Posts: 377	Re: Clear Your Debts 70% of Credit Agreements Are Unenforcable Therefore NON repayabl Zorgon. Yes you would have £5,000 in savings across the banks. But in paying £135 a month across those cards over a year you would still owe £4,000 approximately on the cards. Net result = £1,000 profit approximately. Except you have paid £1,670 out of your monthly salary to have this £5,000 savings and £4,000 debt. (£1,000 net profit) Yeah, you'd have a great credit rating, but in reality you have LOST money not gained it. Here is the simplest way to do it..... open no secured credit card accounts and save £135 a month. Then you have £1,670 plus a bit of interest at the end of the year. If anything you draw has interest applied to it, and you do not pay the full balance off within the interest free period, you will LOSE money, no two ways about it. Then debt accumulates.