Settling a secured loan...

[unknownelement]

How does this sound to settle a secured loan?

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CAVEAT - CONSTRUCTIVE NOTICE




Agent/Manager [Credit] (Name)
c/o [Name of Company]
Address__________________
City, State, Zip _____________ CRR#___________________



RE: Account/Note No. __________________



Dear [Sir or Madam]:



I/We have recently learned of your having employed deceptive and fraudulent practices against me/us with respect to the above and, in regards to your having charged me/us ‘interest’ on ‘created-credit’; contrary to both Federal and State laws and, in accordance with the legal doctrine holding that ‘Banks cannot loan Credit’. To wit, please see First National Bank v. Monroe , 69 S.E. 1123; St. Louis Savings Bank , 93 U.S. 357; American Express Co. v. Citizens State
Bank, 181 Wis. 172, for starters.



Resultant from the above, you, [the Institution] and its’ officers and agents are guilty of Fraud and Usury by 'Constructive Fraud Without Scienter', 38 Cal. Rptr., 148, 157; "No Scienter (Intent)
is required; thus, party who makes misrepresentation need not know it is false". 437 S.W. 2d 20, 28.



I/We refuse to partake in this scheme of 'Constructive Fraud Without Scienter', and do hereby withdraw my/our participation with respect to the above said account, and will make NO FURTHER PAYMENTS obtained on your behalf as a result of 'Constructive
Fraud Without Scienter'. 437 S.W. 2d 20, 28.



I/We further DEMAND that you immediately "ZERO BALANCE" the above account and provide the undersigned with written documents to that effect and, reflecting that the account has been paid in full.






Failure to comply with this CAVEAT-CONSTRUCTIVE NOTICE will require me/us to pursue incremental commercial procedures which will result in irrefutable Counterclaims against you for perpetrating said Constructive Fraud Without Scienter.



In addition and, from this moment forward, any further action taken by you regarding any further attempt to collect this fraudulent alleged debt will result in my seeking incremental remedies within provisions
of the Uniform Commercial Code.



Additionally, your attorney(ies) may find themselves in violation of 7 C.J.S. Sec. 4, Lawyers Code of Ethics, while becoming Co-Defendant(s) with you, [the Institution] and its’ agents as Accessories to Collusion and Conspiracy in your "Bad Check Loan of Bank Credit" scheme; lacking "Lawful Consideration for Contract/Note to exist", Wingate v. Wingate, 11 Tex. 430; thus, before the Court "Without Clean Hands"... "Without Claim for Relief"..."Without Subject Matter Jurisdiction" and ,"Without Cause of Action to Foreclose".



So please take Judicial Notice, in accordance with the holdings at 187 N.W. 2d., 845, 847, with respect to the CAVEAT-
CONSTRUCTIVE NOTICE herein, and govern yourself accordingly.



All rights reserved, without prejudice, U.C.C. 1-207



L.S.___________________________
First-Second; Last Name(s) © (Sui Juris)



cc: Attorney General


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Also, I was thinking to include in there some language to the effect of reliquishing to me the fraudulently secured amount.

Any thoughts?

[charlesa6]

It's look good,well constructive,but they will ignore it like nothing happen. Constructive notice alone is not going to do it, you need more docs to back it up.

[unknownelement]

Charles,

Do you have any recommendations as to what docs to back this up, or any other docs to settle a secured loan?

[charlesa6]

Check member download section under debt collectors etc. Check out jerseee docs.

#1 Yesterday, 11:58 AM
unknownelement
Waking Up
Join Date: Aug 2005
Posts: 14

Settling a secured loan...

--------------------------------------------------------------------------------

How does this sound to settle a secured loan?


i would advise against this move for the now. how much of this do you know as opposed to have read? the best way to catch them is to have THEM tell you everything they have done which you can do by using the GAAP statutes on them. the best thing i can say is to rethink this i remember a lot of the verbage from something i saw on the net a long time ago. you accuse them but seem to have no proof or evidence to back your claim which will make it very hard for you. do you know about shepards? have u looked up the cases? have you sent the bank(?) any questions prior to this letter meaning what have you done to set this letter up?
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CAVEAT - CONSTRUCTIVE NOTICE



snip


I/We further DEMAND that you immediately "ZERO BALANCE" the above account and provide the undersigned with written documents to that effect and, reflecting that the account has been paid in full.


***here we are talking bout money you gave them to back the loan, yet you failed to ask or demand the return of the money.



Failure to comply with this CAVEAT-CONSTRUCTIVE NOTICE will require me/us to pursue incremental commercial procedures which will result in irrefutable Counterclaims against you for perpetrating said Constructive Fraud Without Scienter.

In addition and, from this moment forward, any further action taken by you regarding any further attempt to collect this fraudulent alleged debt will result in my seeking incremental remedies within provisions
of the Uniform Commercial Code.

***how ready are you with the ucc sites you need, do you have access to them or own a set of ucc? here you talk the talk, can you walk the walk? i would rather be the heavy here and have you upset with me than for you to try this and lose. all im tryin to say is this letter is very old and your case can be put together much better than this letter was. study prepare practice and role play have you done any of this?

Additionally, your attorney(ies) may find themselves in violation of 7 C.J.S. Sec. 4, Lawyers Code of Ethics, while becoming Co-Defendant(s) with you, [the Institution] and its’ agents as Accessories to Collusion and Conspiracy in your "Bad Check Loan of Bank Credit" scheme; lacking "Lawful Consideration for Contract/Note to exist", Wingate v. Wingate, 11 Tex. 430; thus, before the Court "Without Clean Hands"... "Without Claim for Relief"..."Without Subject Matter Jurisdiction" and ,"Without Cause of Action to Foreclose".



So please take Judicial Notice, in accordance with the holdings at 187 N.W. 2d., 845, 847, with respect to the CAVEAT-
CONSTRUCTIVE NOTICE herein, and govern yourself accordingly.



All rights reserved, without prejudice, U.C.C. 1-207

***also 1-207 has been changed its now 1-308 i think but if you have a set you need to notice them like blackwell on ucc 1961 ed book 1, sec 1-207 or to that effect. do the work yourself there are many mistakes in the letter now that at the time it was written were on point.

[unknownelement]

I did come across this somewhere on the net, and it was mostly my understanding of verification of unsecured debt/loans that lead me to question if this would be a useful document for a secured loan. Also, the fact that it is only a constructive notice of their fraud doesn't really do a whole bunch for me, does it? :-)

i tried not to do this but my fingers didnt listen to me...(thats my story an im stickin wit it) grin. consider the outcomes first...

bank(you never said) i recently took out a loan with you, acct #. the loan is secured by cash i put on deposit with you in the amount of $$$. for x months i have made payments + intrest on time, however now i have a few questions.

firstly as i understand the cash i placed on deposit with x bank is now an asset for the bank, am i correct?

>>>(did you sign a promissary note or something, if so)<<<

then x bank had me sign a promissary note in the amount of $$$, what happened to the note signed by me? didnt it also become an asset for the bank? if so what happened to the note? as i now understand it i have given twice the amount of the loan at this point as an example i took out a loan for 500.00, i put 500.00 on account to secure the loan. then i signed a promissary note in the amount of 500.00 at this point thats 1000.00 now should i pay off the loan does x bank return the money posted on account to me, what happens to the promissary note? >>>(use your numbers for the ex.)<<<

did x bank loan me the cash i put on deposit (an asset) the credit of x bank backed by my cash, or other assets of the bank? is x bank allowed to loan bank assets? is x bank allowed to loan its credit?

i know this is rough and leaves a lot out but you get the idea of how to go about it, if you did sign a pn, its pretty cut an dried really. and also understand, as always, this is not legal advise but rather a thought shared or something i've done in the past.

[unknownelement]

Hello str8rzr,

Thank you for your response. I am extremely new to most of the matters that are discussed in this forum, and the questions I ask, followed by the answers I receive and researching those answers have really helped me to expedite my learning curve here. So once I understood how a person's signature is the thing of commercial value on a promisory note (and it creates the "credit"), I figured it most be remotely similar no matter if it's a secured or unsecured loan.

So when the bank issues you "credit" by creating an asset out of your signature, why is this fraud only correctable with an unsecured loan? The bank has suffered no loss in both cases, they have not put up their assets in either case, and they did not provide full disclosure in either case! So if I can say to the bank where I have an unsecured loan "show me where you suffered a loss and I will be glad to pay you", and that makes them go away, why doesn't that apply to a secured loan? And most importantly, how can I remedy their fraudulent loan and get back my hard-earned money that I put up as security?!?!

-uE

[seeker]

This is a VERY tough topic -- secured loans -- the point of it is, unless you are stone-cold, rock-solid sure of your facts, evidence and process -- they WILL find a way to claim whatever was posted to secured the loan. Auto, house, CDs whatever. They have perfected to a fine art the process of smoke and mirrors, subterfuge and deceit and have the most perfect of bedfellows wtihin the legal system to carry out there thievery.
This is why all on this site that are knowledgeable, caution studious research and 'practice' on unsecured stuff first. Then if you feel qualified, competent and confident, go after the secured stuff. I would love to do that -- we are being raped by the banks with usury interest rates, unrevealed clauses, secret defaults and so much more as they hold our property, families and livelihood ransom.

By banding together and sharing what we learn, try and test -- we will eventually be able to break this system of injustice and reclaim the rights they have subverted in the American Sovereign!

JMHO


Seeker