'Steven Katz, founder of Debtorboards.com, recently explained to Mother Jones how he's evaded paying $80,000 in credit card debt. His Web site informs debtors of ways they can fight back against the banks; everything from filing suit against collection agencies to shielding your assets from seizure—and it has more than 10,000 members. A woman recently posted a video to YouTube (which thus far has over 500,000 views) calling for a debtor's revolution.
“Had you left me alone I would have continued to make my payments in good faith,” she says, but the hike in her interest rate to 30 percent has changed her mind.
DEBTORS REVOLT BEGINS NOW!
“There is power in numbers,” she notes, and that's where the idea of an organized strike comes in. One person can be hounded, harassed, and scared into submission, but when enough of them work together, could the banks be pressed into backing down?'
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