I am in no way associated with this web site , but stumbled across it during a Google search at http://www.nomoredebt.cc/4you/american_faq.htm Is the following information true or legally valid? Or is this a bunch of hooey! Anybody know? According to UCC Article 3, Section 603, if you make an offer to pay off your debt obligation and it is refused, the "lender" is in default and the debt is no longer valid: The debt is discharged because the lender is in default. By law, (15 USC 1692g § 809. Validation of debts) you have the right to request a verification and validation of the debt. If the loan was not granted by a real person, like a corporation is not a real person, then they, essentially, can not verify and validate the debt. It's impossible. So you make an offer to pay off your debt obligation, pending verification. Then, when the lending institution does not verify and validate the debt, you send a fault letter, giving them the opportunity to cure their fault. Then, when they don't do that, you send them a default notice and demand the discharge of all debt. k
RED FLAG THIS STUFF COMES OUT OF LEFT FIELD!!! ***THEY CANNOT LAWFULLY ISSUE CREDIT! The collection of interest on credit issued by a bank or a credit card company is in direct violation of all usury laws! We send them the legal documentation, and request from them a final account statement with a "zero balance." ***When you learn about the banking system and their fraudulent activities, the moral and legal thing to do is to walk away from the credit system all together and use only debit cards & secured cards. ***Q. Can I still use my credit card once I have started this process? Can I get more credit cards later? ***A. Once you begin the elimination process you cannot engage in any new obligations. We suggest that you get out of the credit system, and in the future use secured cards & debit cards.
