What Do Redeemed/Cancelled Debt Instruments Look Like?

Sep 22, 2018
 

What is the Problem?

This week's question has been raised by many people including Jake from Colchester, Essex. Jake says:

"You've mentioned redemption and the need to get original documents back from the Banks. What should we do with these documents if and when we get them back?"

What To Do

When we speak about debt, the debtor should always follow the note (instrument). In other words, the debtor pays whomsoever holds the note.

Once a debt has been "paid", the associated instrument or security MUST be returned to its maker - ie; it must return to source - ie; it must come back to you!

Once it's in your hands you are advised to make the instrument redundant - in other words de-face the instrument in some way as would make it useless and unable to be entered back into circulation.

What I've just described is a long established banking custom.

When I worked for Coutts&Co we returned physical cheques, issued by customers, back to said customers together with their Monthly Bank Statements.

At other Banking organisations, we would return the original wet-marked Credit Agreements to Customers when loans were paid off.

Alas, due to the ignorance of the majority of the population bankers began retaining these instruments in the late 1980s, early 1990s.

Why do you think bankers want to keep these instruments if they have
"no-use" and "no-value"?

Think about it!

The Outline Solution

We've had this confirmed by solicitors:

always retrieve the security/instrument.

Possible Arguments Against You

What if the Banks refuse to repay the debt they owe you (ie; what if they refuse to return the security/instrument)?

The Almost Legal Info

The refusal of a Bank to return the security to its maker presents you (the maker) with one of three options:

1. If the associated debt you owed them has been re-paid, you may have an action against the bank for the return of the security/instrument or the face value thereof (as confirmed on the Bank's very own books);

2. If the associated debt you owed them has been re-paid, you may wish to turn your right to a claim against the bank into a lien, and or other recognised debt claim, and in turn use the debt claim to extract currency from the SYSTEM.

I describe this process in the "Making The SYSTEM Work For You - On Common Ground II" Seminar which took place on 8th September 2018.

3. If the associated debt you owe them has not yet been cleared, you may wish to employ the tactics described in the Get Out Of Debt Webinar and wipe off the debt you owe them (this is, in effect, Setting-Off the debt(s) using your Right of Redemption to make the point);

Helpful Paragraphs:

You want a full return of title. Title being the paperwork!

If you have defaced or destroyed an original document, which in turn sits in your possession, it is impossible for bogus claims to be made against you on that document! That's why it's so important to retrieve the original.

Simpy refuse to accept photocopies.

Need More Help?

Only you can make it happen.

Only you can enforce a debt owed to you!

Only you can use this information to your advantage to Off-Set debts.

If you have unsecured debts outstanding there is a 97% chance you can wipe them off! Check out the Get Out Of Debt Webinar for the key information and methodologies involved.

If you don't want to get involved on the "front-line" but are happy to add your support to the growing winds of change - you can donate to this website by visiting the ToolBox.

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I trust you found this Show and accompaying information to be of interest.

Big love x

 

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