Bankruptcy and Foreclosure

[mnchicago]

An interesting tact when filing BK as a defense in FC is
to list the value of the original note in your assets column
as money the bank owes you for your promissory note,
the one they deposited as an asset, your asset, and
still owing to you.

[David Merrill]

This crossed my nexus because of the name convention. It confirms that legal or full name is composed of Christian or given name and family or surname. However it deserves some thought in context of your tactic.

[I am told the form may be Australian.]

[Judge Roy Bean]

Originally Posted by mnchicago

An interesting tact when filing BK as a defense in FC is
to list the value of the original note in your assets column
as money the bank owes you for your promissory note,
the one they deposited as an asset, your asset, and
still owing to you.

That's a losing proposition. It rests on already decided and frivolous arguments about the "no money lent" mythology. Plus, the filing of bogus claims in a bankruptcy petition could result in penalties beyond just having it tossed out. Needless to say, an attorney wouldn't risk filing it for you so if you wander out into lala-land and fill in the forms with that "tact" you're simply opening yourself up for a lose-lose scenario.

[mnchicago]

"No money lent" mythology!?

Surely you jest, or you are ignorant of Federal Reserve
policies and procedures and how banks create money.

"No money lent!"

That's right.

[theghost]

Originally Posted by mnchicago

"No money lent" mythology!?

Surely you jest, or you are ignorant of Federal Reserve
policies and procedures and how banks create money.

"No money lent!"

That's right.

Bean is ignorant of much more than just that. For those of you that might not have noticed, he NEVER addresses exactly the issues posted, nor does he EVER offer any constructive advice/information regarding the same. Just negative, "your all going to the slammer for your frivolous jibberish" crap. I'm sure he's read, or at least heard of the piles of case law that address the absolute requirement that lenders must have possession of the original note in order to have a perfected security interest in the note, and therefore an enforceable claim. I'm sure he has a great twist on this one too, though. Can't wait to hear it.

[Judge Roy Bean]

Originally Posted by theghost

Bean is ignorant of much more than just that.....sure he has a great twist on this one too, though. Can't wait to hear it.

Yep. It's the penalty for filing a fraudulent claim. Interesting twist, eh? File goofy claims, get fined.

Great idea there.

[mnchicago]

Non sequiter.