https://m.youtube.com/watch?v=wh_1_WHmz3wtl;dw:okay so this is a video from a lawyer to other lawyers about how to beat debt collectors and banks who are suing you because you owe them money.>like mortgage backed securities, all debt is wrapped up into securities>the bank that creates the loan then sells the loan to another entity (for example citibank sells their credit card debt to citigroup as a security)>by making this debt a security and then selling it the bank is able to show less "debt to income" so the bank can borrow more money to then lend to people (it's a scam)>so when the bank goes to collect the money you owe them they don't own the debt anymore>this makes them a 3rd party debt collector which means they have to be subject to federal debt collection laws which are much more strict than the laws about an original lender trying to collect a debt>because it is a security, trying to prove who even owns the debt is a mess>"you have to show assignment" which means you have to show that you have the debt or else you don't get shit
im a 45 year old NEET with no moneyhow does this apply to me?
>>545238273You can tell people you know so Jew rat lawyers can get fucked in court when they can provide burden of proof in front of the judge.
>>545238401Can’t
I’m off to bed. I’ll answer questions if this threads still up in the morning.
>>545238150i'm dealing with this shit right now, bro, come back tomorrow. useful threads always get slid.
make it simpler:____ has failed to make any claims upon which relief may be granted
>>545239034Does it work in Canada? I know collections can go to hell here after 7 years, but what about a line of credit?
if any person asserts authority over you in a legal sense, your only answer should be>I do not understand
