Get Rid of Your Credit Card Debt…the Easy Way!

What if you could completely get rid of your credit card debt and eliminate unsecured debt just by writing a few simple letters? What if you could end your debt problems in eighteen months or less just by following step-by-step instructions, and without wasting tens of thousands of dollars?

If you were to tell me that I could kill credit card debt that quickly, I would accuse you of being a liar. Pure and simple, I'd think that anybody who claims that is guilty of sensationalism at best, and blatant lying at worst. I'm still skeptical, but I may be a believer yet. Here's why:

One of my favorite people right now is Michael Senoff. His Hard to Find Seminars is chock-full of free goodies, including around 120 hours of interviews between Michael and some amazing guests. In short, I've come to trust what Michael has to say when it comes to marketing and business promotion. Michael has an interview on his website in which (some other guy) interviews John Gliha, creator of "Winning the Collections Game".

John Gliha tells about how he used to be in credit card debt up to his ears. Then he heard from a friend of his who said he'd gotten rid of his own credit card debt–not through debt consolidation, and not through negotiations. He did it by using the bank's own laws against them.

Gliha was skeptical at first, and then he did some research on his own. He found a report, formerly published by the banking industry, called "The Two Faces of Debt". It described how when somebody buys something using their credit card, the arrangement with the bank that issued the credit card is such that the consumer becomes the lender to the bank. Essentially, the bank takes the "promissory note" from the consumer, and uses it as collateral to make more loans. The bank can repeat this process, according to Gliha, up to 27 more times. This repetitive process of making money out of thin air, he says, is what contributes most of all to inflation. After all, if you're making more money all the time, the money that is currently circulating is going to go down in value. Makes sense to me.

Gliha says that this lending situation make it so that there is never any "real" money lent. It's all created out of thin air. His "Winning the Collections Game" system, then, consists of sending letters to the credit card banks that say, "You never really loaned me any money. Look, your 'Two Faces of Debt' publication even says so." According to Gliha, more than half of the time the bank will not follow up on their collection efforts, so the debt is effectively extinguished.

I admit, I've never tried the "Winning the Collections Game" system. I probably never will have to use it, since I'm paying all of my debts on time. And I admit that the "Winning the Collections Game" system seems a bit…shall we say, "unethical". That is, if you accept that the banks actually do loan money, and that a true debt is created. On the other hand, if they're screwing you, seems okay to do it back to them. I guess it depends on which scenario you believe to be true.

If you'd like to hear the credit card debt elimination interview on Michael Senoff's "Hard to Find Seminars" website (and it's absolutely free–Michael, how the heck can you afford the bandwidth?), you can find it here:

Credit card debt elimination interview. It's really an eye-opener on how credit card debt (supposedly) works.

You can find John Gliha's debt elimination website here:

Winning the Collections Game