Keep far away from this scam!!! Discussing methods of debt elimination----- ***"Arbitration: Until recently, a moderately high to high success rate. However, credit card issuing banks continually adjust, amend, and update their documents to impede and challenge the termination process. Currently, some issuing banks have countersued the prevailing client. This, even after an arbitration has been found in favor of the client and the bank declared in default. Secondly, as of 2004, banks have started issuing a federal tax notice for income. Presently, in our opinion, this method is considered to be time consuming and can result in a less than desired marginal outcome. Law Suit: as an arbitration is a finding, a law suit is an adjudication. It is possible to sue a credit card company and win. You must bear a protracted, arduous and expensive process for EACH card or debt. It is unknown as to reliability and success rate."*** They describe arbitration as a debtors tool to have debt erased.......where did these idiots come from?!? "...as of 2004, banks have started issuing a federal tax notice..." -----Banks have for years issued 1099's for forgiven debt. Nothing new. ***How do most companies attempt to relieve debt? To the extent of the research NLA has completed, and of the approximately 25 to 30 companies NLA is aware of that attempt debt termination, all use a process that concludes with an arbitration. ------I can't believe they think people will believe this *** What is an arbitration? An arbitration, as defined by the debt elimination industry, is the implementation of a series of legal correspondence sent to a credit card issuing bank in an effort to demonstrate a legal basis to petition for a relief of debt. -------uh, no, it is a method banks use to raise debtor fees, save themselves a fortune, and basically take away a debtors right to sue. ***Will this work if I have filed for bankruptcy? Dependent upon which chapter and level of adjudication, the process can be successful. Generally, only a Chapter 13 can be considered. The program will usually reduce the term of Discharge.***-----sure, because your case will be forced into DISMISSAL instead! Okay....this must be someone playing a practical joke.....noone would be that stupid to think this is someone that can do as promised.......these guys make Lexington look like pros!!!
Seems like you personify the old adage"that a little bit of knowledge can be dangerous." Though I understand that your knowledge of how banks operate is based upon what we have been told in the media and common misperceptions. The TRUTH is that banks have been perpetuating a fraud on us for many years. Banks have never been legally permitted to extend CREDIT. It's not within their corporate charter. Apparently you didn't explore the "further research" available on page 3. This is how a typical cc application is treated by the banks. First of all an application for credit is a promissary note, which by the way according to UCC is a negotiable instrument. The bank is able to fractionalize it (lets say the the application was for 10k) and receive 90k from the Federal Reserve. Thats right they are able to get 9 times the stated amount that was on the application. The problem with this is that it was never disclosed to you that they could get that 90k on your signature. This is a blatent violation of contract law. They did not fully disclose to you this part of the transaction when you applied for the cc. "Full disclosure"is on of legs of contact law. When was the last time the cc company cut you a check for the interest they earned on the 90k they were able to acquire as a result of your signature, this breaks another leg of contract law namely "valuable consideration." IF ANY ONE PART OF THE CONTRACT WAS BROKEN THE CONTRACT BECOME UNENFORCABLE. This is just the "tip of the iceberg" and only a starting point as to how CC debt and student loan debt can be legally and ethically eliminated, the process goes much deeper than this and attacks the validity of the contract from many fronts. If the process wasn't executed in a legal manner it would be impossible to do given the power that the banks have, yet the industry has been around for 15 years and has been 100% successful. The banks never let these cases get to court, if they did and their scam became public record their ruse would be up.I hear on a daily bases that this sounds to good to be TRUE and my answer is that it sounds to good to be true untill you learn the TRUTH. The truth is what is used to get people relief from an immoral and illegal contract and not be held financial hostage by the banks. Here are a couple of sites that address this issue: www.bankhonesty.com (free chapters) www.raftered.com
