My Father Has Been Profiled In Mother Jones

[Suji to Seoul]

His website "debtorboards.com" and his new book, "Debtsmanship," has been profiled in Mother Jones.

http://motherjones.com/politics/2011/01/steven-katz-credit-card-debt

There are alot of Credit Industry reps screaming how evil he is in the comments, but I decided to post responses to them as the poster "Home in Asia."

Latest on the Magic Jack phone line is that WGN in Chicago is planning to do a Skype interview with my father from here in Shijiazhuang.

I always told my father: "Right concept, right book, right website, right tactics. . .right time."

[Barack_America]

1. That's great. Congrats!

[WillyT]

2. Way Cool !!! - K & R !!!

:bounce:

:hi:

:kick:

[Mira]

3. Thanks for telling! You are justifiably proud. K&R

[gateley]

4. That is so cool! You must be so proud! Give him our kudos!! nt

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Suji to Seoul]

6. Please watch who you are calling a grifter. That's my father

And why would China do to him what he did to disgusting legalized loan sharks?

Too bad there is no law in Arizona outlawing advances used in the way my father did, or in most other states as well.

[handmade34]

7. people are pretty quick to judge...

the stories of most people are seldom simple... things happen and credit companies are ruthless. I think it is important to call foul on a lot corporations exploiting individuals (as well as our resources and more). **Go Elizabeth Warren**

You will never be able to get through to those judging your father harshly without knowing the entire story. I understand.

[Suji to Seoul]

8. Bankruptcy was due to my father almost dying of illness, unable to work

at his business and recovering for almost eight months.

The move here was necessitated by my mother being told, after 24 years of teaching, $48,000 was too much to pay her and she retired before the district "retired" her.

[Dappleganger]

9. Please tell him congratulations...

and to ignore the haters.

[snappyturtle]

10. Loved the article....it's about time the banks got a little of their own medicine. imho nt

[RainDog]

11. congrats k&r n/t

[DeSwiss]

12. K&R

Great article! :)




CAPITALISM IS CANCER

[Mimosa]

13. Thanks for the article Suji to Seoul

Best wishes to your dad. :D

[Raine]

14. CONGRATS to your father and to you

you must be very proud of him! :thumbsup:

[malaise]

15. How lovely

Rec

[Blecht]

16. Glad to see it

I'm glad to see more people understand what the banks are all about -- screwing people out of their money. It's also nice to see the banks get a taste of their own medicine.

[Howler]

17. I think Your Dad is.......

OutStanding!!!!! And I for one salute You!

[Blue_Tires]

18. major kick!

[rbixby]

19. I definitely benefitted from debtorboards

I ended up settling about $12k worth of debt for under $4k. Yes, it was my fault and I was stupid to get myself into trouble (happens to millions of people when they are young and naive), but once I found out how it all worked, I was able to nickel and dime the collectors down quite a bit. Its particularly interesting because these agencies generally buy the debt for 10-20% of its value and then try to collect on the full amount. Anything more than about 15% of most debts is a profit to them, so I offered 25% as a lump sum payment and they bit. Now I'm free and clear. After I carefully educated myself on the issue, got all of the proper paperwork, and everything, it seemed like they had dotted all the i's and crossed all the t's, so it was a matter of negotiating the proper payment to get rid of them.
So at the end of the day, my credit is slowly recovering, my bad debt is paid off, and I was able to claw my way back by paying only slightly more than the principle of my debt. Thanks to debtorboards for that, otherwise I'd still be swimming in debt with interest accruing like crazy.

[Suji to Seoul]

24. I'm glad you benefited from DB.com, because the person who created it

tried to post here on DU.com and got banned. his SN was flyingifr.

[Schema Thing]

20. ! :)

[catrose]

21. What's with all the bank defenders?

And demanding of HIM why the article doesn't mention the family illnesses? He doesn't have any control over what Mother Jones chooses to put in the story.

[Suji to Seoul]

26. It is normal when an article comes out about my father

The guys at insidearm.com loathe him, call him a credit jihadist and that debtorboards.com is the "credit terrorist's training camp."

They always assail my father when it happens.

[WhaTHellsgoingonhere]

22. Thoroughly delightful story!

Congrats to you and your dad. :thumbsup:

[jtuck004]

23. I think your dad and I would see eye-to-eye. Wish him and the family the best for

me, will you?

Thank you for the post.

[Zax2me]

25. Too cool!

Way too cool...!