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The Truth about Personal Debt They Never Told You

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Free To Prosper

As I begin to write this article, I feel a sense of urgency to share as much of what I know as possible, in an effort to forewarn you, the reader about what is happening with Americans all across the nation, about what banks and collection agencies are doing to pillage homes, bank accounts, and other personal possessions and how your understanding and applying of the Truth will allow you to escape debt slavery and prepare to thrive through the depression.

Being the founder of a Liberty Oriented Debt Repudiation & Asset Protection Company I had the privilege of listening to and helping hundreds of men & women all across the 50 states who were suffering with debt burdens, many of them very moral and honest human beings with families, plans and dreams that can now begin to be fulfilled.

I’ve also spoken to people who have been “legally” deceived and robbed by banks, settlement companies, bankruptcy attorneys, consolidation and modification companies, counseling and collection agencies, and even their honest but ignorant financial advisors; Many of these people lost most of their material possessions to the banking system, some are now living in motels with barely enough money to eat or to buy new clothes, others are not as fortunate.

Throughout such conversations I always thought to myself that if only these people knew the deception they are in and did something sooner while they still had options, chances, time and money… if only they knew what I know and repudiated their debt, protected their assets, and had the right information, their situation would be vastly different today.

The information and proof I was able to collect and will share with you shows how the banking system is quickly becoming brazen and is using the courts and Marshals to take away from Americans their income and possessions by entering sham default judgments, often with no more proof than copies of statements, name, address, and social security number of the alleged debtor.

Here’s a quote from a recent FTC Investigation“The FTC’s 2009 report found that debt collection litigation raised concerns about collectors failing to properly notify consumers of suits they have filed, collectors filing suits based on insufficient evidence of indebtedness, courts frequently granting default judgments against consumers who do not appear or defend themselves, collectors seeking to recover on debts beyond the statute of limitations, and banks freezing funds in bank accounts that are exempt from garnishment by law.”; One collection agency went as far as to set up a mock court room along with a fake judge to fool alleged debtors to think they were on trial.  It is a sad time in history when a bank can win a judgment against someone for thousands of dollars without ever proving a contract exists, a loss was incurred, or that there was a damaged party.

A wise man once said: “if the owners of a house know that a thief is coming, they will be on guardbefore the thief arrives and will not let the thief break into their house (their domain) and steal their possessions.“  If you’re in debt you’re already being robbed, and when the time comes and you can’t keep up it will only get worse (unless you do something about it) Here’s a list of what we see happening more and more everyday, it is not meant to scare, but to forewarn and give you a chance to prepare:

Seizure of Safe Deposit Boxes by court orders.

Levies/Freezes of personal and business Bank/Brokerage Accounts.

Deducting money from your bank account via a “Right of offset Provision” to pay for your credit card without your approval or a court order.  See Bank Letter.

Garnishment of wages up to 25% of earnings for private debts (up to 65% for federal debts).  Only 4 States prohibit wage garnishment.

Vehicle LiensRepossessions

Property Fraudclosures (banks have been caught changing locksbreaking in without a court order while property is occupied by owner, foreclosing on wrong homes, falsifying documents, and foreclosing with missing note and broken chain of title).

Collection of personal information for future confiscation of personal possessions(Now this one is where we can really see the Tyranny progressing) Banks are using more detailed Information Subpoenas and Pattern/Form Interrogatories which are designed to discover where you store your guns, valuables, who owes you money, what you’ve bought within 3 months, what you’ve sold, what your business does, who your clients are, spouses info, closest relatives info, private financial records, and more.  All this is sanctioned by the courts and presented to you under threat of arrest for failure to respond accurately and timely (see example here).

Arrest Warrants have been issued for Failing to Appears for a Civil (not criminal) Case Hearing, and in isolated cases the bail is set for the amount of money they claim you owe.  Consumer Attorneys say that such incidents are on the rise in many states.  In particular, we have heard from people in MN, AZ, WA, IN, IL, NH, & CA who have had arrest warrants issued in debt matters.  (

This list is just the beginning, and in my professional opinion and gut feeling the banks may soon begin asking the courts for search warrants (as they already do in the UK) or something similar in order to come into your home and take your Flatpanel TV, Jewelry, Precious Metals, Gold, Fur Coats, crocodile leather shoes, watches, computers, and anything that has value and is not “exempt”.  Ladies and gentlemen, this is not my imagination; it is a reality which many Americans are beginning to face.

I know the information above is not good news but it’s real, and now that you’re aware of the problems, let’s take a look at the “common” solutions people often turn to when dealing with debt and why they are ineffective and often risky:

Paying it off: This will leave you high and dry and significantly hinder chance for survival, not to mention the banks cannot prove you owe a single penny as no money was ever lent to you (it was created into existence by monetizing your signature, thereby, increasing the banks asset holdings).  We are deceived into thinking money was lent and that we owe it back, nothing could be further from the truth and they know it, here’s what some collectors replied with after challenged to provide such proof: Letters

File Bankruptcy: Those who have nothing to loose often qualify, however, if you don’t qualify due to law changes in 2005, you will have exposed all your financial info, and will be left with your debt + attorney expenses + ruined credit + government controlled repayment plan).

Settle the debt: By settling with the original creditor or their collector you will have agreed to pay money you don’t really owe & the “forgiven” portion of the “debt” amount will be reported to the IRS as “income” for that year.  That’s right, you will be taxed on that amount via a 1099-C form.  And yes, you may also have to pay a third party agency to help you pay the bank.

Consolidate Debt: Many people think that paying off their unsecured credit cards and loans by refinancing their home or taking a second home loan is a good idea, but doing so puts your home on the line for the debts that previously were not secured by anything.  If you have the equity in your home and want to spend it, then why not use it to buy silver, gold, or something you will need to help you thrive?  Remember, your debts cannot be proven as valid because no money was lent.  Ask a bank to show you their account ledger proving where the money for your credit cards came from and you will see that they cannot.

Just Walk Away: This approach is closer to the Truth, but just walking away without having the right protections and preventions in place can result in some serious trouble as I stated earlier in this article.  However, this method, if done correctly will truly and morally free you from the burdens and allow you to keep your money.

It is time to go into financial survival mode, especially if you’re still in debt or are unsure about your current or future financial position. In the days to come survival will become an inevitable part of daily life for most people, but it is those who had a head start with the right approach who will be thriving.

Now I will explain the only simple & effective 3 Step solution that I know of and apply daily, which has taken years of research, study, experience, and most of all the Love of Truth and Freedom:

Repudiate (reject) unjust, immoral and invalid debt if the other party cannot prove any obligation exists.  If it cannot be proven as owed (and it never is), it doesn’t have to be paid.

Protect your assets.  Set up legal protection for your home, bank accounts, vehicles and paycheck.

Develop an effective strategy for what to do with the money you saved to gain the maximum benefit for the least effort as we approach what Michael Maloney calls  “The Greatest Wealth Transfer in The History of Mankind.”

The time to act is now, the personal financial disaster has begun and sadly many will not be prepared.  Please get your spouse on board if they are not, and make the choice for freedom, the only other choice is slavery and you’ve already tried that one.

It is my moral obligation to myself and my fellow man to not only sound the alarm, but to present real solutions to deal with the problem before it’s too late.

Visit for more information on the topics and solutions presented here, and contact me if you sense that something must be done but have questions or need to understand more.

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