Welcome to Generic DCS (GDCS), which stands for Generic Debt Collection Service. We are debt collectors, this is an attempt to collect a debt, and any information obtained will be used for that purpose. You will come to understand completely the importance and placement of the preceding sentence very soon. Collect Federal debt. Federal Claims Collection Standards (FCCS), 31 Code of Federal Regulations (CFR) Parts 900-904, provide general rules on debt collection for Federal agencies. Treasury Financial Manual (TFM), Volume 1, contains procedures related to accounts receivable policies for collections, deposits, credit management, debt. Legal collections. An account of legal dunning procedures, which differ significantly per country. The International Debt Collections Handbook provides valuable insights into the rules, lawsuits, courts, bailiffs and enforcement measures in the legal debt collection process.
Occupy Wall Street 2.0: The Debt Resistors’ Operations Manual
The anniversary of Occupy WallStreet is September 17. While there will be public events in New York, it’s likely that number of people that will be involved will not be large enough to impress the punditocracy (multi-citi militarized crackdowns have a way of discouraging participation), leading them to declare OWS a flash in the pan.
The release of the The Debt Resistors’ Manual suggests something very different: that the movement is still alive, if much less visible, and is developing new avenues for having impact. This guide is designed not only to give individuals advice for how to be more effective in dealing with lenders but also sets forth some larger-scale ideas. This is a project of a new OWS group, Strike Debt. Fighting for debt renegotiation and restructuring, something that the bank-boosting legacy parties have refused to do, is becoming a new focus for OWS efforts.
The Debt Resistors Operations Manual
Quite a few well qualified people who in Occupy fashion are going unnamed, participated in developing this manual. Having read most of the chapters in full and skimmed the rest, I find that this guide achieves the difficult feat of giving people in various types of debt an overview of their situation, including political issues, and practical suggestions in clear, layperson-friendly language. For instance, the chapter on credit ratings gives step-by-step directions as to how to find and challenge errors in your creditrecords, and what sort of timetable and process is realistic for getting results. The chapter on dealing with debt collectors is similarly specific and detailed. The discussion of the bankruptcy process includes this section:
One detailed law study found that bankruptcy laws, specifically Chapter 13, implicitly favor a certain profile, an “ideal debtor,” who is usually white and married. Most bankruptcy laws tend to favor wealth over income, ownership over renting, formal dependents over informal dependents and heterosexual married couples, all of which have significantly higher rates in white communities. Before 2005, African Americans filed for Chapter 13 nearly 50% of the time, compared to less than 25% by whites. Why, you may ask? Here’s one explanation: a study found that when all other factors are equalized (identical financial cases), lawyers are twice as likely to steer Black clients toward Chapter 13 than they are white clients. The study could find no other cause besides racism in all forms: conscious, unconscious, structural and institutional.
The manual also includes two chapters on “fringe finance”, meaning financialservices for the barely banked or underbanked, including check cashing outlets, prepaid cards, payday lenders, and pawn shops. It stresses that these are tantamount to a poverty tax, since low income people pay more for these services.
Each chapter has a list of resources at the end, including websites, articles and books, as well as footnotes. Some end with ideas for collective action, others with survival strategies. And it presents a manifesto:
We gave the banks the power to create money because they promised to use it to help us live healthier and more prosperous lives—not to turn us into frightened peons. They broke that promise. We are under no moral obligation to keep our promises to liars and thieves. In fact, we are morally obligated to find a way to stop this system rather than continuing to perpetuate it.
This collective act of resistance may be the only way of salvaging democracy because the campaign to plunge the world into debt is a calculated attack on the very possibility of democracy. It is an assault on our homes, our families, our communities and on the planet’s fragile ecosystems—all of which are being destroyed by endless production to pay back creditors who have done nothing to earn the wealth they demand we make for them.
To the financial establishment of the world, we have only one thing to say: We owe you nothing. To our friends, our families, our communities, to humanity and to the natural world that makes our lives possible, we owe you everything. Every dollar we take from a fraudulent subprime mortgage speculator, every dollar we withhold from the collection agency is a tiny piece of our own lives and freedom that we can give back to our communities, to those we love and we respect. These are acts of debt resistance, which come in many other forms as well: fighting for free education and healthcare, defending a foreclosed home, demanding higher wages and providing mutual aid.
The Debt Resisters' Operations Manual Pdf Free Download Torrent
You can download the manual here or from the link below. Strike Debt will also be handing out hard copies of the manual in Washington Square Park on Saturday from 10:30 AM till 7:30 PM and at Judson Church from 7:30 PM till 9:30 PM.
Topics: Legal, Politics, Social policy, Social values, The destruction of the middle class
Read more at http://www.nakedcapitalism.com/2012/09/occupy-wall-street-2-0-the-debt-resistors-operations-manual.html#UG6jc1jjRs5pS6fo.99
The Debt Resistors' Operations Manual
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As James Baldwin once said, “Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor.” This is true now more than ever. Some call it the “poverty tax”—the surcharge people pay for not having savings or access to “prime” credit and being consigned to “fringe finance.” Fringe finance refers to the array of “alternative” financial services (AFS) offered by providers that operate outside of federally insured banks. Gary Rivlin, author of Broke USA: From Pawnshops to Poverty, Inc., does the math; adding up the profits from the AFS sector and dividing by the forty million households that survive on $30,000 a year or less, the industry receives an average of $2,500 per year from every low-income household. That’s a “poverty tax” of around 10%, depleting the assets of low-income households. This chapter and the next chapter break down the major perils of fringe finance into those related to transactions and those related to credit. This chapter deals with transaction products and services: check cashing and prepaid cards. Chapter Eight covers credit products and services: payday loans, auto-title and pawn loans, and rent-to-own financing. Among households without access to a bank account, 62% have used an AFS transaction product or service and 27% have used an AFS credit product or service. About 23% have used both. Both chapters offer analysis and information to help you identify the common tricks and traps of fringe finance so that you can avoid them. We consider alternatives to the most expensive products and services, as well as how to save money if you’re “locked in” or have no other options. There is no one-size-fits-all strategy for personal finance. We conclude Chapter Eight by outlining some individual and collective strategies that aim to minimize or eliminate our dependence on the current debt-finance system. Investors, however, expect the stunning rates of financial extraction in the poverty industry to rise, and it has created funds to invest in startups and small firms with big growth potential in the fringe finance sector. The “market” that investors want to tap is the unbanked (people without checking or savings accounts) and the underbanked (people who rely on a combination of both “traditional” and “alternative” financial products). Why are investors so interested in this market? Not only is it a market that has previously been off their radar, it is a market that promises greater returns—even after adjusting for increased risk (otherwise, they wouldn’t be interested). In a blog post titled “Not Unbanked: Untapped,” a venture fund manager explains, “It is fair to say that most of these products are generally more expensive than what most of ‘us’ pay. APRs [annual percentage rates of interest] higher than 30% (if not 300%); transaction costs of $2+; money-transfer costs of $10+; access to payroll check for 2–4%.” The transaction services segment of AFS has seen some of the most spectacular growth in recent years, where prepaid cards are making inroads and recording profits that rival the always-profitable check-cashing outlets (CCOs). This is the predicament of the poor in our debt-finance system: it costs poor people significantly more to use money—to spend it, to save it, to invest it, to borrow it, to send it “back home” (for immigrants whose families still live in their country of origin)—and they have less money to begin with. If you’re poor, you are likely forced to engage with the debt-finance system, and the more wealth it takes from you, the more indebted you become. Meanwhile, AFS owners and investors, who enjoy lower financing costs than you and have more money to begin with, profit from your loss and acquire pieces of your debt. Thus, investors on Wall Street come to own pieces of your future. These are the workings of a two-tiered financial system, on the bottom of which are relatively high-cost services marketed to the growing and changing ranks of the unbanked and the underbanked. The nearly ten million unbanked includes the working poor, the unemployed, the homeless, the undocumented, those who do not speak English fluently, those who are or have been incarcerated, those with mental or physical health issues, older people, those working off the books, those hiding from creditors or the “authorities,” those whose homes were stolen by robo-signing investment banks, youth who have been cut off from their parents, and anyone else who “traditional” financial institutions deem unworthy of service. Demographically speaking, the unbanked population is broad and diverse, but it is disproportionately comprised of low-income households (71% of unbanked households earn below $30,000 a year), households of color, immigrant households, and individuals with negative banking histories. (Of course, many of the unbanked fit into multiple categories.) In general, Latino/a and Black people are six and seven times more likely to be unbanked than Whites respectively. Households with an annual income under $30,000 are thirteen times more likely to be unbanked than those with an income between $50,000 and $75,000. More than half of immigrants in New York City are unbanked, according to a recent survey. People of color and immigrants are more likely to have low, unreliable, or seasonal income, making it more difficult to save enough money to meet minimum opening-balance requirements at banks. Not having enough money is the number one reason that the unbanked do not have a bank account. There’s another significant commonality: many people of color, low-income individuals, and immigrants justifiablydistrust banks. Losing one’s home or hard-earned property, or being denied credit for no reason but the color of one’s skin—especially in a society focused on wealth accumulation—is traumatic. The effects can ripple across generations of a family, shaping how future generations interact with financial institutions. Banks have historically been places reserved for middle- or upper-class White men, and that explicitly exclusionary past makes its impact felt in today’s world in various less overt ways. Because of the openly racist and classist history of U.S. credit practices, banks can feel like unfamiliar or even hostile territory to many poor people of color (Massey and Denton, 1993). Inconvenient locations, limited hours of operation, and language barriers often make access difficult for low-income households. Undocumented immigrants generally lack the forms of ID required by many banks to open accounts, and furthermore fear that banks will share their immigration status with the authorities. Some of the unbanked and underbanked rely on fringe finance because it helps them avoid unnecessary difficulties posed by mainstream financial products—difficulties which reflect their socially marginalized status. If you are a transgender person applying for a bank account, for example, you must use your legal name and gender, even if it is different from the name and gender that you identify as (though in Washington State, at least, transgender people have the right to be referred to by their name and gender when doing business at a bank). Preloaded debit cards, which do not have the owner’s name printed on them, help trans people avoid harassment caused by a mismatch between the printed name and their gender presentation. (This information was obtained in a private email correspondence with the founder of a trans activist group in the Pacific Northwest. They relayed various members’ experiences with banking and using fringe finance.) It can become difficult for unbanked people to document and prove income when filing for benefits, workers’ compensation, or filing cases against abusive employers. For many of the unbanked, the experience of second-tier status in the financial system mirrors their experience with the two-tiered justice system. Those who are socially marginalized in one way or another are more likely to occupy the bottom tier of the financial system, which makes it more likely they’ll get caught up in the criminal justice system. The criminalization of poverty, the criminalization of immigration, as well as racial and ethnic profiling are well-documented trends that push people to the fringes of finance. And being on the fringes of finance is itself increasingly criminalized. In at least a third of U.S. states, being in debt can now land you in jail. In Washington State, for example, a Black man with mental health issues was incarcerated for two weeks for failing to pay $60 worth of “legal financial obligations” (LFOs). His jail stay, meanwhile, cost Spokane County over $1,500. In many cases, these barriers to the banking system can reinforce each other and create insurmountable walls between the banked and unbanked. The underbanked tend to share many of the same characteristics and face many of the same obstacles as the unbanked.MORE