The other day, a friend and I were discussing the garbage that DC pull and the facts that more and more of the courts are letting them get away with it. We also discussed the fact that Congress seams He## bent on destroying our consumer rights. That said, a suggestion was made. Here are the basics. A new program that would give consumers who are being sued by creditors/DCs the ability to purchase funds from the treasury at the same rate that banks do. Unless it's changed, they can get $10,000.00 in money from the treasury for just a $1,000.00 or 10%. What do you think?
And what collateral are you providing to guarantee repayment? you are already being sued by creditors for non-payment of debts! who would lend you more?
it's not a loan. Banks use your money to purchase money from the Treasury. What was proposed was a program that would give a consumer the same buying power and access that the banks enjoy. Let's say a creditor and/or DC sued you to try and collect a debt, for example of $10,000.00. With such a program, you pay the Treasury $1,000.00 and receive a certificate that is then presented to the court showing you have purchased and/or secured the $10,000.00. the credit/DC would then be required to produce evidence to the court that establishes the validity of the debt, signed credit agreement, receipts, etc, etc.. Once proved, the court issues the certificate to the creditor/DC who then can cash it in for the face value with the Treasury Department. If the creditor/DC failed to produce evidence, the certificate is returned to you and you would have the right to cash it back in for cash value (the original amount you paid) and the court would be required to dismiss the case in your favor and list it as non-refile-able. Even if the creditor/DC wins, you win too. They get their money and you satisfied your obligation for a faction of what it would have cost you.
