Fraudulent debt collection industry “secrets” they hope you won’t discover. Which is why debt collectors don’t want to go to court. Because, when you ask the right questions, you’ll see the fraud.

For the record, none of this is legal or financial advice – So make sure you do your own research before taking any further action…

So the debt collector says, “We bought this debt from ABC Bank “

Really?

“Yes, and we’re collecting it…”

Well, one of the questions I’d ask them in discovery is “Produce a contract to show that you actually purchased this debt … Or alleged “debt”, from this creditor …

“And then also what you paid for it …

“We would like to know how they managed to purchase the debt, after it’s already been charged off on the capital gains tax of the original bank….”

Well, see, in discovery, that’s a very good question, isn’t it?

And you know what to do if they won’t answer it …

File a motion to compel

The original creditor already wrote it off anyway, so technically there is no debt and as a matter of fact, they never sell the debt anyway

What they sell is the information related to the debt, your Social Security number, your address, your phone number, all these things

And so the whole third-party debt collector industry is a fraud on its face

Fraudulent Debt Collection Industry “Secrets”

It’s just extortion… and blackmail… because you don’t really owe these debt collectors anything. There isn’t a debt anymore… (somewhere around) 2 to 3 cents on the dollar is what they pay for these alleged debts

So if you have a $10,000 credit card, they might have bought it for 200 bucks… Maybe less If they get boxed together… Just like the mortgage notes get boxed and they’re sold as a $100,000 lot or a $500,000 lot

A Debt Collector comes in and buys it for whatever number and it’s generally 2 or 3% on the dollar

So, they might have paid 20 bucks for the thing, who knows?

But really, unless the creditor sold the debt, while it was still a debt, then they’re really not selling the debt.

If they charge the debt off on their capital gains tax, then there is no more debt to sell. It’s been written off.

So what they’re really just selling is information related to the previous debt. In which case these debt collectors have no legal cause to try to collect on them anyway…

There’s more than just that way they collect on the debt too, because they get insurance also.

And then they also get paid from some of the third party debt collectors, 2 or 3 cents on the debt too

They’re making money 3 ways to Sunday and it’s all illegal

You don’t have to believe this… do your own research.

Look at when the US government bailed out AIG …They were unsure of mortgages, and they had all these bad mortgages that failed

And they knew they were going to fail… They bet on that, knowing that they were risking mortgages.

So if they failed, AIG would have to come in and pay them off, and then what did we do?

Okay, did we bail them out?

It’s not a lie, it’s the truth

The name of the game is “Bailout “.

And that is the title of one of the chapters in G. Edward Griffin’s book The Creature from Jekyll Island … Where he explains from a historical perspective the history of the Federal Reserve and how the system really works…

And this has been the setup from the beginning

The name of the game is “Bailout “.

It’s happened over and over again since 1913

This is how they rob people of their property and their money… It’s through the bailout

Well, for instance, like the servicer on your home… id you actually borrow any money from your servicer?

Whether you never borrowed a dime from them, if you don’t make the payments and they foreclose, they get your house…

See how it’s a fraudulent debt collection industry, and they didn’t loan you a darn thing…