freedom

freedompool.org

Regarding Credit Card
and other Unsecured Debt

Home
Draft
Notary Presentment
Secured Debt
Taxes
Traffic Tickets

Banks Don't Loan
Bank Loan Secret Exposed

Debt Collectors
Beating Up on Them



Private International Remedy Demand

The Private International Remedy Demand can be used in response to a 3rd party debt collector and, customized for it, in response to a creditor, IRS or almost any offer (demand) in commerce. It is best employed utilizing notary presentment, so that one's process is not just hearsay and one's private claim can be perfected.

Neither fictions nor anyone who works for fictions can make a claim. If no can verify with first hand knowlege that a debt exists, under penalty of perjury and under their own unlimited commercial liability, then there is no claim.

Example of a beginning of this private, administrative process: PIRD. See also this example of a private administrative process.


Validating the Debt

Debt collection attempts are subject to proof-of-claim. If they cannot show documentary evidence that you owe something then you can rightfully object and send them on their way.

Although you may have viewed it merely as an application, when you opened up your credit card you signed a "promissory note" saying that you'd pay them. What if they sold that note and didn't tell you? You could pay it off and get a notice 2 years later that someone else has owned the note and now you owe them. Obviously, you don't want to pay someone who is not the rightful holder in due course. It is lawful and sensible to require them to produce validation on the account.

Some people do debt validation because they are being unduly harassed by debt collectors and want to be left alone. Many learned how the banking industry operates in fraud and decide that they don't want to participate in their system any further. Regardless of your reasons, it may be good to give your credit card companies or debt collectors an opportunity to stand behind their claim.

Keep in mind:
1. All 'loans' and credit cards are fraud through deception.
2. All “legal tender” in the U.S. today is fake.
3. Banks cannot and have never loaned money to anyone.
4. The funding for your credit card comes from your agreement to open the card. Your initial “promise to pay” is the payment; it is a promissory note.
5. Since, 1933, we cannot truly “pay” anything; we can only discharge when we utilize other debt instruments, such as Federal Reserve Notes or bonded promissory notes or other alternate means.
6. We create a legal tender with our signature.
7. Banks may ignore or reject this alternative legal tender, but we can enforce it with proper procedure.
8. Banks will not swear under penalty of perjury that we owe a balance because they didn’t loan anything to us.


Terminating Unsecured Debt

Potentially, debts can be purged using the Fair Debt Collection Practices Act and credit history can be restored by using the Fair Credit Reporting Act. Creditors can be defended against with knowledge of simple contract law, Generally Accepted Accounting Principles, rules of court and the basis that banks do not loan anything. Debt collectors can be defended against with the basis that an assignee cannot establish any contractual nexus to enforce a claim.

Banks are prohibited from loaning. They can’t loan other depositor’s money because of the matching principle under GAAP. They can’t loan out nor risk any of their own assets because of Federal Reserve regulations. In order to accept a credit application or promissory note, the banks must convert the customer’s note into a check and give it back to him. Only they can do this because they have a monopoly on negotiable instruments. It is the customer who creates the currency and funds the line of credit to himself. The customer is the depositor (creditor). The banks conceal this fact by carrying out what appears to be a loan approval process for each customer. There is no loan from the bank.

One object in defending yourself against a creditor that has not assigned the account to a debt collector is to manipulate the creditor into a new agreement and/or force the account into collections. The creditor can be sent a notice of final payment with the expectation that the creditor will not dispute the payment or its terms in writing, thereby accepting it as payment in full. When the final payment is accepted, and the creditor has failed to respond or object to the notice of final payment, it makes it very difficult for them to maintain a claim against the account holder.

In practice, the creditor will call you to ask about late payments. It is prudent to take a record of the caller’s name, company, mailing address, and phone and fax numbers, date and time of call, and then request that the caller limit communications with you only to writing. It is best to disconnect the call after obtaining this information and then to send a written correspondence making the same request.

If the calls continue, you can do this again or make a complaint with your state’s attorney general’s office. In most cases, the creditor will assign the account to collections. Once this happens, the third party collection efforts are regulated under the Fair Debt Collections Practices Act. The debt can be assigned, but that doesn’t automatically mean that you have a contract with the new 3rd party debt collector; in fact you don’t as long as you don’t contract with them by acquiescence. The third party assignee usually has no agreement with the debtor, so in order to recover the loss that it chose to incur; it needs the debtor’s consent. This is usually obtained by deceit, by tricking the debtor into accepting a new obligation.

You can request from them a validation of the purported debt. This they’re not going to be able to fully respond to – the collector never provided any services or products, neither is there an automatic obligation for you to pay. When the collector responds with anything but some written agreement, evidence of your consent or evidence of consideration (e.g. payment), they have failed to validate. Most collectors who receive this request will never pursue the collection. If the collector persists in ignoring your request for validation, a complaint to the Federal Trade Commission may be appropriate. Just listing the address for the FTC on the second notice is likely to get positive results.