"Assignment" of Debt after Discharge "Charge-Off"

[TheBlackTruth]

<font color=darkblue face=verdana>You have a point. Barter IS still used often. I suppose i should've said, "we'd have to step back to ONLY using barter"



-BT[/color]

[Sharing Lights]

However, everything is much simpler than appears
to be when real truth is revealed of what banks,
really, do with the so-called - noncollectable debt
in about 6 months.

They place an insurance claim on the debt
and collect on it.


Divesting, assigning, selling, or whatever...
after the institution reimbursed the bank is,
an outright, insurance fraud, as long as
insurance is collected.



Banks would never reveal that truth unless
are forced.

Only their top management knows the closely
guarded secret.


Average employees would look at you as if
you are insane when you tell them the facts.

Banks and insurance firms feed each other as
most US' doctors and pharmacies nourish each other.


In return, banks pay substantial premiums on which
insurance firms blossom.

All extra charges are passed on......
if you guessed it by now, yes, to Consumers.

Most insurance premiums and bank's additional fees
are not caused by Consumer fraud, even though it exists,
but by the clever plot of the original bank-insurance duo
from hell, as what they pull together is a FRAUD indeed!

An equivalent would be for a Citizen to have
his/her car damaged, then, to file and receive
an insurance claim, pocket that money, and, then,
sell the car at the auction or to a private buyer.


Imagine the Government found out of that or
the insurance firm.


A Citizen may be charged with insurance fraud
to say the least and face a possible prison sentence.


However, when banks do even more and worse,
no government, no insurance firms go after them,
as the deal is made privately.


That is how deeply the Federal Reserve,
as the Banks are under its wings, has infiltrated
this Land in fraud.

Once again, via lawyers the institutions keep
pulling their fruits on us - lawyers are at the root
of all evil with an exception when we meet
decent ones.


How often does that happen?

Without "wise" lawyers, the Constitutional Laws
would crash any fraud but the lawyers are
that buffer which nibbles on the noble Constitution via
wicked case law and statutes.

Attorn-eye-yee indeed..