I have received a couple emails lately regarding financing, debt and the law. Let me begin by saying I am not a lawyer and I would not do this to a company you plan to use in the future, butifyouget into trouble or find yourself in trouble and need a way out, you may want to get legal advice concerning the following.

First... You need to ALWAYS sign Legal Documents with a BLUE INK pen. Reason - BLUE cannot be photocopied without looking like a photo or turing black.

Second... If I was in trouble When I recieved a Bill (Statement), I wouldsimply write across the top in BLUE INK - "PLEASE SEND PROOF OF DEBIT", then I would draw a diangle line from corner to corner. Above this line I would write "COMMERCIALLY DISHONORED" Then below the line I would write "IN WHOLE OR IN PARTIAL" Below that statement I would write "IN PERPETUITY/AB INITIOUCC 1-207 WITHOUT PREJUDICE"

Now I would mail it back... They will send me either another Bill (which is a statement and not proof or a photocopy of contract, which is not proof)

Step Three... each time the sent me something I would repeat the above.

Typically after the second time, a lawyer is going to read it over and may call me or write me a letter. I would Repeat the above - enough said. That lawyer would probably drop it and let my debt slide.

I repeat... I would not do this with a company you plan to do business with in the future, because they will not do business with YOU!

I would dothe abovewith every contract I signed as I signed it, including credit applications. Why? Because to make it legal after I have signed it this way, the person issuing me the contract must readme the contract line for line, sentence by sentence, and explain it to me so that I fully understand it. Will they? NO! So if I choose to honor this contract, it is only because I choose too, and I am not legally required.

Another thing I may do is, send the company a check for $20 and on the back of the check and lengthwise, I would write, "Payment in Full". If they cash the check, MY DEBT IS PAID IN FULL! Supreme Court case - Summers vs White, They are done!!! No more arguement, no more bills, my proof is my cancelled check if I had to go into court. "Your honor, I paid this debt in full and I have proof." The judge will ask me for myproof and I will show him/her my cancelled check. The Company's attorney will say this is no way legal, and I will say, "Your honor, it is quite legal and binding,supreme court decisionSummers vs White." The judge is going to get mad at me, and call me into his/her chamber and warn me, I don't want to see this again, type of thing, but he/she will throw it out and I would bedebt free!




I BELIEVE YOU SHOULD PAY YOUR DEBTS, but... If you are in trouble and before your lose your house or go BK -- distroying your credit -- these are a couple ways I may go about it!

 

Interesting information, Craig.

Thanks for sharing with us.

 

That is very interesting, may I ask how you found out about this? I'll keep it in mind if something ever goes screwy in my future, I have yet to get my own credit card and prefer to pay most everything with cash/debit card as I don't like bills, but that will change someday.

 

 

Space... a man of honor... a very good thing!

Reality... while there are men of honor, there are no corporations of honor.

Let me share with youa short story. This is a story of John C. John, was a man of honor. If John shook your hand, it was as good as a contract. In fact John would come in from playing golf and hand me a bar napkin with a hand drawn picture on it and say, we are going to make 500 of these for Mr. Johnson. Very Good, you want me to get the drawings made and contracts drawn? NO! Can't you make them off my drawing, and we don't need a contract, I shook the man's hand. John, shaking a man's hand is honorable, but it is not a binding contract. What if we make them and he refuses to pay for them. We are talking Kenametal 3109-20 carbide... there is close to half a million dollars in raw carbide alone.John's face would turn red, "Are you listening to me! I shook the man's hand and the deal is good!" John, I know you are a man of honor, but not everyone is. "Craig, just do it!" Ok John... It is your money.

This is how it went for years, but as we grew and stopped dealing with small business owners and starting dealing with corporation, I became more and more assertive trying to change this great man of honor. Davison Textron broke John's spirit and John's heart. He shook hands on a 5-million in raw material job and John thought as usual, a hand shake was as good as a contract. Well 5-million raw turns into 7-million finished and Davison Textron, got a change of heart and cancelled the order 90% through. No contract, no need to pay. It crushed me to see this great man of honor crumble.

HONOR is for men! HONOR is lost in business! You may be a man of Honor, but that Financial company, could careless, and will break that contract with you, in a heart beat, if it is in their best interest. Do not feel you need to remain honorable to a corporation.

 

[align=center]Hi Craig,[/align][align=center]Thank you again for your post/time/words.[/align][align=center]I agree with what you have written, and it sadden's me,[/align][align=center]because it's so true. The ethic's/standards of the present day[/align][align=center]world corporations are tarnished by the need for profit's/power/greed.[/align][align=center][/align][align=center]I believe from my research,[/align][align=center]that ourWorld is in the sad state of affairs,and it is because of their unfeeling[/align][align=center]actions/conduct in our World : ([/align][align=center][/align][align=center]I believe honesty, & trust is so hard to gain, and so [/align][align=center]easy to lose. As a country, as a World, I believe we all[/align][align=center]are losing.......`trust[/align][align=center]I hope that I'm wrong....I still have hope that our world[/align][align=center]can be better, `if we wake up...and care about our World.[/align][align=center][/align][align=center]a man of his word:
someone you can trust because you know they will do what they say they will do.[/align][align=center][/align][align=center][/align][align=center][/align][align=center]
Quotations About Honesty, Integrity and Truthfulness[/align][align=center][:-]
“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.” --Douglas Adams
”Integrity has no need of rules.” --Albert Camus
”Honesty is the cornerstone of all success, without which confidence and ability to perform shall cease to exist.” --Mary Kay Ash
”Real integrity is doing the right thing, knowing that nobody's going to know whether you did it or not.” --Oprah Winfrey
”The greatest homage we can pay to truth is to use it.” —Ralph Waldo Emerson
”A life lived with integrity - even if it lacks the trappings of fame and fortune is a shining star in whose light others may follow in the years to come.” --Denis Waitley
”The highest compact we can make with our fellow is, - 'Let there be truth between us two forever more.'" --Ralph Waldo Emerson
[font="times new roman"][size=4]”Honesty is the first

 

Craig, thanks for the info. Might come in handy as I'm dealing with some creditors for my sister, as I am now her conservator. Seems she had 3 credit cards. HAD! Plus other accounts.