What Everyone Should Know About Debt Collectors And How They Work, A Begining Look

"At any given moment, there is a sort of all pervading orthodoxy, a general tacit agreement not to discuss large and uncomfortable facts... Anyone who challenges the prevailing orthodoxy finds himself silenced with surprising effectiveness." -George Orwell

Haven't you ever wondered WHY a lending institution which has large office spaces (multiple offices/divisions,) a sea of accountants, auditors, lawyers, and other professionals on staff, would turn the alleged account over to a smaller (in many ways, miniscule in comparison) entity? Are they not equipped to deal with such matters as collecting on their own, legitimate, real obligations? When they do decide to write-off/charge-off the account, they take a very favorable tax credit, (based not only on the alleged transfers for the goods and services, but also the interest and fees accrued in the process) and are able to release the appearance of losses on FUTURE quarterly reports on the books by no longer showing an outstanding liability. On top of those incentives, they then sell the collection rights (Rights of Collection) to a third-party debt collector for PENNIES on the dollar. The real numbers would be about 10-20 cents on average.

This singular sentence should be INSTANTLY committed to your long-term memory. This is one of the KEY and most vital factors in having the alleged debt permanently removed from your life; it is nearly IMPOSSIBLE for them to provide a true verification. Before that critical word is used again, let us examine the definition:

Black's Law Dictionary, Sixth Edition. "Verification: Confirmation of correctness, truth, or authenticity, by affidavit, oath, or deposition. Affidavit of truth of matter stated and object of verification is to assure good faith in averments or statements of party."

NOTE: If one were to "swear" something to be correct (via Affidavit, Oath, or Deposition) one would NEED first-hand knowledge of the facts for that Affidavit, Oath, or Deposition to be valid. Do you believe someone in a debt collector's third-party position/capacity has first hand knowledge of ANYTHING? They do not. There is only one type of exchange that can be verified; one that has/leaves a paper trail of the transaction of public funds. Again, in America, public funds would be the use of the rare and scarce commodity known as Federal Reserve Notes; there are ONLY about 600 Billion dollars worth of these Notes for a nation of nearly 300 Million. If one were to go to a private car lot where the owner has obtained the automobiles at an auction or through private exchange with the previous owner, that individual might be offering private financing. If the request for validation was made after the exchange, all the lot owner would have to do is show the account transaction records where the public funds originated. The invoice/receipt of the exchange of vehicle for a Signatory's promise to pay and the proof of public funds accompanied by an Affidavit of facts spelling this out and sworn by the lot owner, would satisfy and prove the verification request. Real exchanges of public funds are the only obligations that can be verified. Everything else is borderline fraud, and if attempts to collect are made after written communication demanding validation is served, it IS fraud punishable by incarceration and fines/damage awards. "All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." Arthur Schopenhauer

For more infomation search § 809. Validation of debts {15 USC 1692g}

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