after flexing and stretching the mind with various philosophies of your favorite flavors, law is an interesting area to play with. what currently, interests me most about law is where it intersects with finance. particularly, credit cards. specifically, eliminating your credit card debt through legal means without paying it off.
i have a belief that existing laws for finance and credit are arbitrary. an individual or group or groups have written various laws. the most forward facing of these laws or arbitrary rules are the ones we are familiar with. for example, you incur a debt through credit, and you pay it off. those are the general rules that we are all familiar with.
now i am curious to ask, who were these laws written in favor of? judging where the larger sums of money in society are concentrated and concentrating, i'm just going to assume the laws were written in favor of the corporations. a corporate entity is similar to an individual person philosophically as well as legally as far as rights. albeit, many would argue the corporate entity has more rights than the individual person. the point i'm making though is that if an individual person can drown in debt, so can a corporate entity. if this is the case, then there are probably some lesser known or less forward facing rules to bail out the debtor. i'm betting, not only bail out, but eliminate the debt while improving the credit rating, so that a debtor can effectively walk away from a significant debt only to obtain more credit. now that's "a revolving line of credit!" ;p by the way, i'm not talking about chapter bankruptcies, ie. bankruptcy. i'm talking about other american rule systems and processes.
these lesser known arbitrary rules or laws to bail out the debtor were written by the law makers in the event that a corporate entity was drowning in debt. i call these laws, the keys to the kingdom. much of law works this way. the lesser known rules are in place to save those who have the knowledge or the resources to have this knowledge accessed, presented, and acted upon. these keys are embeded within written, common, and case law in the event that a resourced individual, or corporation needs an out.
here's a site to check out: michigan collection law blog
thanks for stoppin' by! see ya's next time (x)!