Credit Card Debt Banks Credit

Read  the article by Carol Ann F. Maloney ,” How To Eliminate Credit Card Debt ” to understand why you are not really in credit card debt  and proceed as follows:

Send for free credit reports with The Annual Credit Report Request Form , at   // You will recfeive a free copy of your credit report with names and addresses of those reporting your credid card balances. You can dispute any and all credit card debts with the following letter.which you can send to the addresses (on the credit report )  

 After sending the following letter to the credit card companies, send a letter to the credit reporting companies and inform them what  account balances are disputed, unproved debts.  Inform the reporting companies that  the disputed, unproved debts must be removed from your credit report until they are proved or they are in violation of The Fair Credit Reporting Act and subject to suit.

Begin the letter with name of reporting company ,address of company, your name and address and the date. Re: account #_____________& unproved debt.

Bank Representative:

I put ( bank name )on notice that I dispute the alleged debt (money loss) on account#________________. I challenge said bank to prove a money loss (debt), as required by the fair debt collection practices act), by answering the following interrogatories:

Interrogatory No. 1. State the total amount of principle (sum “paid” for transactions), interest and fees, respectively, paid by defendant during the full history of said account. Answer proves said bank is unjustly enriched by collecting money without loaning money.

 Interrogatory No. 2. State the total amount of principle (sum “paid” for transactions), interest and fees, respectively, allegedly outstanding on the defendant’s account as well as the amount of defendant’s balance on said account at the requested termination date. Answer proves said bank is collecting usurious interest and exorbitant fees that often exceed the total of transactions for goods and services, often doubling consumer costs to unjustly enrich said bank who is collecting money without paying money for creditline transactions.

Interrogatory No. 3. When “payments” were made from said account for defendant’s transactions and defendant made money payments to said account, state how the payments were posted , and if the defendant’s creditline was restored with more, fractional reserve bank credit creation, as well as stating the amount of money reserve required to create defendant’s creditline account. Answer proves that money collected for creditline accounts goes into said bank’s money reserve, and is not used to restore the creditline account balance (which is restored by creating more credit out of nothing as a means of payment).

Interrogatory No. 4. List each and every actual money expenditure to create and service defendant’s said creditline account. Answer proves that said bank’s cost for setting up and servicing a creditline account is minimal and is recovered after a few monthly payments and that there is no money benefit expended by said bank.

My credit card transactions have been paid by the transfer of bank credit (which is not money) in place of a funds transfer (legally defined as a transfer of money). answer the following interrogatories to prove otherwise:

Interrogatory No. 5. State if ( bank name has transferred bank credit or money to pay for the transactions on account#_______________ and whether any money is credited or debited to said make it a money account rather than a bank credit account created out of nothing. Answer proves said bank is unjustly enriched by receiving something (money) for nothing (bank credit transfers created from nothing and used as a means of payment), and that my use of said bank’s manufactured credit card or credit checks as money implicates me in the passing of counterfeit money (legally defined as the manufacture of something used in the place of money).

Reporting an unproven debt to a consumer reporting company is in violation of the fair credit reporting act.

Interrogatory No. 6. State the date, amount and other information reported to any consumer reporting company regarding said account. Answer proves ( bank name ) is in violation of the fair credit reporting act.which has negatively affected the cardholders credit score and freedom to do business.

Charging off my account as an unpaid debt loss to reduce said bank’s federal tax payments and dividend payments to bank stockholders is tax fraud and stock fraud.

Interrogatory No. 7. State the dollar amount of any bank tax reduction that was due to total charge-offs of which the defendant’s said charge-off was a part Answer proves that bank used the cardholder’s account for tax fraud by claiming a ‘bad debt loss that is not a proven debt (money loss) to fraudulently reduce taxable income.

Interrogatory No. 8. State the dollar amount said bank stock dividend payments were reduced by total charge-offs of which the defendant’s said charge-off was a part. Answer proves that said bank used the cardholder’s account for stock fraud by claiming a ‘bad debt loss that is not a proven debt (money loss) to fraudulently reduce dividend payments to stockholders.

Said banking franchise allows said bank to loan its money but not its credit (American Express Company Co. V. Citizen’s State Bank 194 Nw 427) & Howard Also Foster Co. V. Citizen’s Nat. Bank Of Union ,133 S.C. 202, 130 S. E. 750).

Said bank credit loan agreement (contract) cannot legally be made or acted upon by either party (norton grocery co. v. people’s national bank, 144 se 501). said bank corporation (charged with a knowledge of the law) has defrauded me by making an illegal contract (First National Bank Of Tallapoosa V. Monroe 69 S.E.1123).

 Filing a complaint to collect an unproven debt with added interest and fees is an unlawful deception of the Court (fraud), subject to dismissal with prejudice.

if you do not prove a debt (money loss),  selling (assignment) of an unproven debt is fraud on the assignee, as a legal assignment requires it have value or potential value, depriving the assignee of the right to collect or file a complaint.

Interrogatory No. 9. state the amount (cents on a dollar) ( bank name ) would receive (or has received) for selling an assignment of said account to a collection agency. Answer proves said bank has defrauded the collection agency by selling an assignment that has no value or potential value (legal definition of assignment) and the assignee has no legal right to attempt collection or file a complaint

I refuse to participate in said bank’s RICO activities and hereby terminate my credit card account #______________and put said bank on notice to prove a money loss (debt) or record a zero balance on said account.


(Your Name)