Illegal Debt Collection

Illegal debt collection is a HUGE problem that most people are totally unaware of.

What happens when you get a loan from a bank?

Common Answer: The bank lends you some money.

But that IS NOT the correct answer…

Did you know it’s illegal for banks to lend their own money OR credit?

It’s true!

Illegal Debt Collection Starts with the Bank

If banks can’t lend money or credit, what are they REALLY lending you?

The answer is NOTHING! (except your trust)

You walk into a bank and also sign a credit card application with your signature.

What actually happens is that credit card agreement with your signature becomes a negotiable instrument – a promissory note (promise to pay).

The signature gives it energy and also value. Title 12 instructs banks to treat negotiable instruments as CASH.

Whose cash, you ask?

YOUR CASH – the consumer’s cash.

In accounting, a bank also treats a negotiable instrument as “cash equivalent” – that means that YOU FUNDED THE ACCOUNT!

The instrument has your signature on it. You also own it. But they’ll NEVER disclose that…

YOU are actually making a loan to the bank but they trick and convince you that they lent you something, totally ignoring the fact that you’re the one lending ‘trust’ to them.

Here’s where things take a turn…

Once you sign that promissory note, the bank trades it with the Federal Reserve (FR). The FR gets the note, and sends the bank Federal Reserve Notes (dollars) in return.

In other words: A promise to pay gets traded for another promise to pay.

Everyone gets something of equal value in that trade. So the trade is equal. The transaction is complete (or should be.) BUT…

they force us to pay the money back PLUS interest.

Here’s Where Illegal Debt Collection Comes In Play…

That would be okay IF they didn’t get rid of the original note – but the moment they toss the original, they’re committing FRAUD by making us pay for something they no longer have claim to.

If they weren’t committing fraud, we wouldn’t be able to…

►Get debt collection agencies to agree to erase the debt
►Get debt collection agencies/creditors to remove the negative account from your credit reports on your behalf (which they MUST do)
►Sue certain debt collectors/creditors that have broken the FDCPA or attempted to collect an invalid debt.

In our Debt Removal Secrets system, we send letters to validate the debt. Remember that word “validate” It’s very important.

We’re not going to verify, we’re going to validate.

This has a special meaning and requires the “lender” to take specific actions.

So the letter goes out to make sure the accounts are in order.

When you send the first letter, you also ask them for the accounting records of this trade.

The accounting records will show, legally, you gave them a promissory note and they gave you Federal Reserve notes.

There was a debit entry into the accounting. There was a credit entry into the accounting.

They cancelled each other out, debit for credit, credit for debit. This is accounting 101.

The transaction was complete when the notes were traded. You do not owe them a penny more. Their accounting records prove it.

In the letters, we’re merely asking for PROOF that we owe them anything (and that the proof they supplied is correct).

In order to supply that proof, they would need the wet ink signature contract, or a copy of the contract that has an affidavit (a PHYSICAL human signs + notarizes).

All we’re asking for is that proof – validated.

The problem is they can’t supply that proof. They don’t have it. They got rid of the proof when they traded the note.

The bank was made whole when they traded the note with the Federal Reserve. And then they come after you to get back what never existed.

Attempting to collect a debt that’s invalid is also FRAUD.

People pay because they don’t know the truth. It’s illegal for banks to lend money. So it’s illegal to collect on any account of theirs.

So there you have it.

The law says, the fine for breaking the FDCPA (Fair Debt Collection Practices Act) is between $100 and $1,000 dollars.

So technically, not only can you get the debt removed…

…you can actually FORCE the “lender” to pay YOU.

This blows the mind of most people who’ve been brainwashed their whole lives. All it takes is smoke & mirrors to turn humans into debt-slaves.

We’ll continue down this rabbit hole in tomorrow’s blog post…

Want Help Putting a STOP to This Illegal Debt Collection?

Hopefully we’ve shown you that there IS a better way!

See What Debt Removal Secrets Can Do for You. If you’re struggling with collections, this process will show you how to STOP them in their tracks FAST!

Your friends in finance,
Private Wealth Academy