Original Credit Card application

Hello, I am new to the site and this is my first posting. Please delete if I posted in the wrong forum. I just have a question on locating a court case that talks about the "original credit card application with original signature". I have searched and cannot seem to find it. I requested it but was told by the creditors that my original credit card application is not available since the account was established in 1996. Also, please correct me if I am wrong but I watched the Cornforth videos and he said once a debt is sold it no longer exist but he did not mention a case. Can someone provide me with some insight. I am not seeking legal advice, Thanks

Originally Posted by salutesoldier37

Hello, I am new to the site and this is my first posting. Please delete if I posted in the wrong forum. I just have a question on locating a court case that talks about the "original credit card application with original signature". I have searched and cannot seem to find it. I requested it but was told by the creditors that my original credit card application is not available since the account was established in 1996. Also, please correct me if I am wrong but I watched the Cornforth videos and he said once a debt is sold it no longer exist but he did not mention a case. Can someone provide me with some insight. I am not seeking legal advice, Thanks

THE ORIGINAL APPLICATION/AGREEMENT IS NOT AVAILABLE BECAUSE IT MOST LIKELY HAS BEEN SOLD TO A TRUST WHICH HAS SECURITIZED/MONITIZED THE NOTE/AGREEMENT. I BET YOU THOUGHT THE BANK WAS GIVING YOU A LOAN OR MONEY ADVANCE FROM THEIR OWN CAPITAL STOCK.

YOU NEED TO READ THIS:http://66.218.71.225/search/cache?p=...icp=1&.intl=us

The Process of Securitizing Credit Card Assets
The creation of credit card ABS is considered one of the most important financing
innovations in the card industry's brief history. Although the technology is relatively new to card
loans, the process of securitizing loans (e.g., conventional mortgages) has been around for over 30 years.
The process of securitizing credit card receivables is very similar to that of securitizing mortgages and other loan obligations. A card issuer sells a group of receivables to a trust. The trust then issues securities backed by those receivables. To illustrate, consider a card issuer that makes credit card loans to a group of 100 customers. Each customer maintains a card balance of
$1000. The card issuer decides to securitize these customers' receivables by grouping their balances together and creating a $100,000 "package." This package is sold to a trust, or "special
purpose entity," created solely to buy the loans from the bank. Once the package is in the trust,
the trustee creates bonds (i.e., securities) that are backed by the $100,000 of credit card loans and
sold to investors in blocks.

[dashboy]

Way to go PJT04!!! You da Man!!

dash~

[Bill Smith]

Cornforth's material has a nice little ring to it, but it's a total loser in court.

Not a helpful strategy. Better to concentrate your efforts elsewhere.

[dashboy]

Hey salutesoldier? Did they ever tell you anything about selling those small pieces of paper you signed at every purchase? Did they tell you they had value to them as an asset? Did they tell you or lead you to believe they were fronting you the money to make those purchases, thus the reason for the obligation to pay them back? Did they tell you anything about a trust? And if there is a trust, who is the trustee, guarantor, beneficiary, issuer, and al those other terms under a trust relationship? hahaha!

Ask them! See what they say! Hahaahaha!!

[dashboy]

And what is his strategy?

[J.W.]

Bill,

Thus far I have only seen negative tidbits from you. What does a gentleman such as yourself find to be worthwhile legal research/technology, or what does or has Bill ever used for himself?

I am not alone in my eagerness to read your reply.

Thanks,

Jason

[Jerseee]

salutesoldier37,

This is a good start provided by PJT04.

This bit o' knowledge that you were given is GREAT. But you must first internalize the kingship within you and start telling them what to do instead of asking them what to do. Knowing the game is half the battle won; employing the truths and applying your sovereign power that you have come to know, is where the real education starts and things open up to you to reveal themselves.

this is what I learned. Doing this makes things much easier.

Originally Posted by PJT04

THE ORIGINAL APPLICATION/AGREEMENT IS NOT AVAILABLE BECAUSE IT MOST LIKELY HAS BEEN SOLD TO A TRUST WHICH HAS SECURITIZED/MONITIZED THE NOTE/AGREEMENT. I BET YOU THOUGHT THE BANK WAS GIVING YOU A LOAN OR MONEY ADVANCE FROM THEIR OWN CAPITAL STOCK.

YOU NEED TO READ THIS:http://66.218.71.225/search/cache?p=...icp=1&.intl=us

The Process of Securitizing Credit Card Assets
The creation of credit card ABS is considered one of the most important financing
innovations in the card industry's brief history. Although the technology is relatively new to card
loans, the process of securitizing loans (e.g., conventional mortgages) has been around for over 30 years.
The process of securitizing credit card receivables is very similar to that of securitizing mortgages and other loan obligations. A card issuer sells a group of receivables to a trust. The trust then issues securities backed by those receivables. To illustrate, consider a card issuer that makes credit card loans to a group of 100 customers. Each customer maintains a card balance of
$1000. The card issuer decides to securitize these customers' receivables by grouping their balances together and creating a $100,000 "package." This package is sold to a trust, or "special
purpose entity," created solely to buy the loans from the bank. Once the package is in the trust,
the trustee creates bonds (i.e., securities) that are backed by the $100,000 of credit card loans and
sold to investors in blocks.

Hello Everyone,

I have read your info. Thanks. however, I am still at a lost. In my response to the lawsuit I recieved I requested the creditors to explain to me in reference to UCC 8-501 which says:
8501. (a) "Securities account" means an account to which a
financial asset is or may be credited in accordance with an agreement
under which the person maintaining the account undertakes to treat
the person for whom the account is maintained as entitled to exercise
the rights that comprise the financial asset.
(b) Except as otherwise provided in subdivisions (d) and (e), a
person acquires a security entitlement if a securities intermediary
does any of the following:
(1) Indicates by book entry that a financial asset has been
credited to the person's securities account.
(2) Receives a financial asset from the person or acquires a
financial asset for the person and, in either case, accepts it for
credit to the person's securities account.
(3) Becomes obligated under other law, regulation, or rule to
credit a financial asset to the person's securities account.
(c) If a condition of subdivision (b) has been met, a person has a
security entitlement even though the securities intermediary does
not itself hold the financial asset.
(d) If a securities intermediary holds a financial asset for
another person, and the financial asset is registered in the name of,
payable to the order of, or specially endorsed to the other person,
and has not been endorsed to the securities intermediary or in blank,
the other person is treated as holding the financial asset directly
rather than as having a security entitlement with respect to the
financial asset.
(e) Issuance of a security is not establishment of a security
entitlement.

They did not answer. I am trying to now subject a motion to dismiss the lawsuit based on the fact attorney cannot verify debt and they do not have my original credit card application with signature. I am being told my the county clerk I must have court citing this prior to filing. This takes me back to my original question. However, I am thinking about counterclaiming for a breach of contract. Am I on the right track? I am not seeking legal advice.

Originally Posted by salutesoldier37

Am I on the right track? I am not seeking legal advice.

READ THIS LINK:
http://forum.suijuris.net/showthread.php?t=305


THERE ARE A FEW POSTS THERE ABOUT BREACH OF CONTRACT.