Monday, October 31, 2011

Bank Transfer Day scheduled for November 5th, 2011.

(Edit update: Sunday, 6:45 am, Nov. 6, 2011 - Credit Unions report more deposits in the past month than they received for all of last year, wow. I hope the Credit Unions have a way to invest the money locally so they don't clone the investing ways of the big banks.- end of update.)


(2nd Edit update: Sunday 10:40 pm, Nov. 6, 2011, Awesome Kentucky Occupy News story! 


I'm not for or against Bank Transfer day that is set for November 5th, 2011 by the Occupy Movement. The reason for my neutrality is based on my belief that local credit unions follow the exact same banking guidelines that the big banks follow.

Therefore, any debt restructure that a person may require will be still treated as a default by both a big bank, and by a credit union as well.

I'm on a crusade to see that people be allowed to restructure their debts without being placed into default first by the same banking entities that helped cause the economic climate that is forcing consumers to ask for a debt restructure in the first place.

If a consumer has a medical emergency, is care taking for a family member, has a student loan, credit card debt, is out of work, or has a mortgage, they should be allowed to restructure that debt without being placed into a default by the banks, or a credit union.

If Bank Transfer Day makes the Occupy movement feel good and gives them reason to go on, then good for the Occupy Movement. But as for what really matters to me, "Give me debt restructure without default"


You can learn more about how to be a part of Bank Transfer Day by clicking here.


2 comments:

  1. I am laughing, these so called credit unions and local banks took the tarp. They were bailed out... How many of them will pay it back> I think none. wake up so called local people....

    ReplyDelete
  2. Anonymous, I'm not so sure that credit unions offer the same type of securitization fraud investments that the big banks and wall street offered.

    However, I do agree that credit unions are not in a position to act differently when it comes to restructuring a debt.

    ReplyDelete

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