The Hidden Dangers of "Permissive Use" Restrictions in Your Auto Insurance Policy

One of the most frequent questions I get as an auto insurance agent is "who is insured to drive my car?"

Sometimes the answer to this question can be trickier than most people realize. If you never loan your car to others and you never will, none of the restrictions I discuss here will matter to you and you can stop reading now.

Short answer:

People that are listed on your policy enjoy the full benefits of your policy coverages with no restrictions. For those that borrow your car that are not listed, they are generally covered as long as you have given them permission to use your car; this is called "Permissive Use" and all policies have some form of, or interpretation of, permissive use. Excluded drivers are never covered nor are un-named drivers who "use the vehicle without a reasonable belief that the person is entitled to do so" (sometimes referred to as "theft").

Depending on the company you are insured with , interpretations of permissive use can vary dramatically and some insurance carriers are very strict in their enforcement of the rules.

By reducing or restricting coverages through different applications of permissive use, carriers can reduce their risk (and claims costs) thereby reducing the cost of their policies to make them more affordable for their policy holders.

Three examples of the "Permissive use" restrictions carriers utilize include: "Drop-down limits"; "Double deductibles"; and "No physical damage coverage".

Drop-down Limits:

Oftentimes there are dramatic reductions in coverage amounts on insurance policies even when a permissive user has an accident. One such reduction is called "drop-down limits". "Drop-down limits" means that if a person has an accident while borrowing your car, the limits of liability are reduced to what the state's minimums are. For example, the state of California requires minimum limits of only $ 15,000 per person for bodily injuries (BI) / $ 30,000 per occurrence maximum for bodily injuries (BI) / $ 5,000 for property damage (PD).

Example: Driver "A" has an insurance policy with full coverage with permissive use and his liability coverages are $ 100,000 per person (for BI) / $ 300,000 per occurrence (for BI maximum) / $ 50,000 per occurrence (for PD). His policy has a "drop-down limit" clause. Let's say he loans his car to a friend (driver "B") and that friend has a serious accident where the bodily injuries to other party amount to $ 65,000 and he totals the other car which has a value of $ 28,000. In this scenario, the "drop down limit" is in effect and the most Driver A's policy will pay is $ 15,000 for the other persons injuries and $ 5,000 for their vehicle which clearly is not enough. In this case, Driver A is legally liable for the balance of the damages because he is the owner of the vehicle; $ 50,000 for injuries and $ 23,000 for the vehicle. If Driver B has coverage, their coverage would be secondary and their limits would then apply until they run out as well. Otherwise, Driver "A" will most likely be sued by the other party.

Double Deductibles:

One coverage that is available with your auto insurance is called collision insurance. Collision insurance protects your vehicle for damages that are a result of a collision with another object. Ie another vehicle, a building, etc. Collision coverage has a deductible which is the "out of pocket" amount you have to pay first before the insurance carrier steps in to repair or replace your car. Typically deductibles can range from $ 100 to $ 2500 but most of the time they are $ either 500 or $ 1,000.

They way the "double deductible" restriction works is if an un-named driver has an accident while driving the car with your permission, the collision deductible is doubled. Hence your $ 500 deductible is now $ 1,000, or your $ 1,000 is now $ 2,000. Hopefully your friend that borrowed your car is willing to chip-in and pay the extra deductible amount.

Sometimes the "double deductible" restriction is based on the age of the driver who borrows your car. For example, the deductible for collision is only doubled if the driver is younger than 25 years old.

No Physical Damage Coverage:

This restriction works just like the "double deductible" described above. However, this restriction is much more punitive.

Simply stated, if an un-named driver borrows your car and has an accident the insurance company will pay the third-party damages (liability), but the damages to your vehicle will not be eligible for coverage.

All of these "permissive use" restrictions are described in detail in your policy initially and also in your renewals. Also restrictions shouldnt these be Disclosed by vBulletinĀ® your agent View when you buy your policy, Which is Post why you want a professional insurance agent View / broker WHO COMPLETE really understands these Intricacies Effectively and can explain these restrictions to you when you apply for coverage.

Permissive use restrictions are also very common and are employed by some large, reputable nationwide insurance companies so be sure to examine your policy carefully.

Auto insurance policies are not all standardized. They are different from carrier to carrier and there are a multitude of coverage benefits, restrictions and exclusions that are unique to each company. Make sure to consult with your agent to see how your particular policy works.

Food for thought – next time you are considering buying a policy "online" without a human helping you, or from an "800 #" with an "order taker", consider how details like these may not be adequately described or may somehow get lost in translation – it pays to have an agent who can really look out for you.

Source by Wayne Mccormick

Three Elements to Validate Credit Card Debt and Get Rid of It

This is so important that someone has to mention it now!

If you have unmanageable debt and must get rid of it, make sure you know all your options. Consumers are put into the corner due to overwhelming credit card debt. Foreclosure and bankruptcy is at its all time high; there is not enough money around for everybody to pay the big banks and often consumers have to rob Peter to pay Paul. Becoming educated is the only solution that could solve dire situations against ballooning debt.

One option you have is debt validation. If you have already fallen behind and are dealing with third party debt collectors, make them validate the debt and prove that you really owe them money. There are laws that apply to debt validation and it is an excellent weapon against third party debt collectors. Make sure that the third party collection agency has the right to collect money from you first before you pay them.

You might want to ask the debt collectors to provide these three elements to validate the debt:

1. Prove that a contract exists. Ask for proof that the collection agency owns the debt or has been assigned the right to collect the debt. There may be a contract between the collection agency and the original creditor, but that does not mean there is a contract between you and the collection agency. Indeed there is no contract between you and the collection agency and their collection attempts are an effort to get you into a new contract. Once you send them one cent they have a new contract.

2. Provide an account statement. The debt collector should have an account statement that show exactly how the collector has come up with the amount of money it is trying to collect from you. Here is a case law you might want to look at regarding the account statement Fields v. Wilber Law Firm, Donald L. Wilber and Kenneth Wilber, USCA-02-C-0072, 7th Circuit Court, Sept 2004.

3. Provide a signed loan agreement or copy of the original credit card application. this is optional because if the debt collector has provided an account statement from the original creditor then this requirement is fulfilled.

Debt collectors usually get paid a percentage of the amount they have collected. They can also make money by pocketing the difference between the amounts paid to purchase the debt and the amount collected from the debtor this applies to junk debt buyers.

Be aware that if your contract with the original creditor says “debtor agrees to be responsible for payment of this debt to creditor or its assignees” this means you might need to negotiate or to settle the debt for a lesser amount.

The Fair Debt Collection Practices Act (FDCPA) says that it is your rights to validate your debt and that the creditor must show proof that you owe the debt. There has to be actual documented proof and not some kind of a computer printout.

The FDCPA says the creditors are not allowed to collect the debt if they cannot verify that you owe the debt, and they are not allowed to contact you about the debt or to report the debt information on your credit report. If this information is reported on your credit report then it is a violation of another law called the Fair Credit Reporting Act (FCRA) and you can sue them for $1,000 in damages due to violations of these laws.

Traditional debt relief programs might not work for every situation. If you are drowning in debt, it is vital that you seek information on debt validation that you can do on your own. There are also professional debt relief help programs that use debt validation or debt forgiveness strategies if you do not want to do it on your own. These are law based programs that can legally get rid of the debt, or even cancel them.

Source by David Isenberg

Revealed – What Does a Controller Really Do? Best Practice Secrets Highlighted

Once the mission and vision are tweaked, Chief Executive Officers (CEO) and other executives are faced with the issue of implementing the new plan. Often that requires extensive help from accounting or finance. Since a number of CEOs, panel creators, and others ask what is the difference between a Chief Financial Officer (CFO) and controller and bookkeeper, you can start with a look at a more detailed definition of a controller.

We will begin with what to expect from the levels of the accounting staff. For the purposes of this discussion, the following will serve as definitions of two of the top players in the accounting department:

Chief Financial Officer -Person who makes the financial statements understandable. This person ranges from a true business partner to a technician.

Controller – Is the working manager for the accounting department. This person ranges from someone on the CFO track to a technician.

Controllers also have highly specialized duties that require a variety of multitasking skills. Again, a person in this position should be able to cover but is not limited to the following tasks:

Controller Duties:

o Manages bookkeeper

o Handles Executive Payroll

o Can sign checks prepared by bookkeeper

o Signs Sales Tax returns

o Creates the more difficult journal entries

o Prepares Financial Statements

o Approves customer credit limits

o Is responsible for payroll processing

o Implements basic financial and accounting systems

o Can coordinate with external Certified Public Accountant (CPA) on tax returns, compilations or audits

o Implements polices and procedures

o Creates non standard reports, including variance reviews

o Handles insurance and risk management with assistance

o Begins safeguarding assets

o Creates budgets

o Inventory overview with assistance

Think of this as a common sense list of how you want to see how this key team member will help you execute strategic programs or processes like: risk management process, enterprise risk management ( ERM), strategic planning, risk assessment, risk management assessment, entire enterprise risk management assessment, operational review, due diligence, or scenario budgeting.

The opportunities you may create from improving your company resources may open up some incredible opportunities for you with competitors whose companies have a weaker management team.

Source by Gary W Patterson

The Importance of Preparing a Budget

If you are like many other people, you probably find it difficult to make a budget, then stick to it. Too many times people will take the time to sit down and create one, only to abandon it soon after because it is either easier to go back to the old ways of money management or it simply cannot be followed because of incurred debt. Either way, it is important to keep in mind that a budget is a crucial part of money management and can actually help you get out of debt. By following courses such advice as that given in the Good Sense Money Budget course, you will learn how to save money in a way that is practical.

When you use such material to create a budget, you will also learn how to prioritize your financial goals in a way that will show you how to save money as well as where and when to spend it. You will then be able to develop a personal budget while reducing expenses by eliminating the things you do not need. Imagine having the knowledge to show you how to downsize debt right at your fingertips. Now you will.

Whether you are single and living alone, married with a family or single with roommates, preparing a budget will help you organize every aspect of your life. You can start by taking into consideration the amount of money you earn each month. Sense most people spend around the same amount each month on bills and other fixed expenses, this will serve as a good starting point.

Once you have figured how much you have to spend, you will need to go about planning how you will spend it. Prioritize your expenses. Write down in chronological order all payments you must make each month. If you find you actually owe more than you take in, begin looking at what you can eliminate. For example, if you do not need cable television, eliminating this bill may help you pay for other necessary expenses. Keep in mind you can always pick the service back up again once you are able to afford it. Cable television is only one example. If you find you do not have any bill you can eliminate, consider taking on an extra income to help pay expenses.

Once you have created a monthly budget, think in terms of one year. Here you will plan for unexpected incidents. In addition to the monthly expenses that will probably only vary slightly from one moth to another, you will need to factor in possibilities such as new tires on your car or air conditioner repairs. It is always necessary to factor in incidentals because they always inevitably do occur.

Planning a monthly budget will not only help you manage your money, but will also allow you to keep up with what comes in and what goes out. You will have beyond a shadow of a doubt what you have spent and on what, and can better plan for your future.

Source by Barbara Taylor

How To Get Out Of A Lease On Credit Card Equipment

A Leasing Nightmare

Leasing can be a very frustrating experience. I once called on a merchant who had 3 different leases and he was not even sure what they were for. Upon examining his business checking account statement I was able to help him identify who the leases were to and what they were attached to.

It turns out he had a lease for his terminal, another separate lease for a pin pad, and a third lease of $ 89 a month which he'd been paying for 6 years and was not even sure what it was for. This particular lease had expired after 5 years, but he was still unsuccessful getting the leasing company to stop taking money out of his checking account.

How can this be, you ask?

That's a good question, one you'll be able to answer by the time you've read all of this post.

Your Processor Is Not Your Leasing Company

Many merchants are surprised to learn that the credit card processor and the leasing company which owns the leasing contract a merchant signs are two entirely different business entities.

This means you are free to switch processors at any time (unless your card processor has you locked into one of those manipulative "Early Termination Fee" contracts I often rail against), and it will have no bearing whatsoever on your credit card terminal. Your new processor will simply download new software into your existing terminal.

Why Leases Are So Hard To Get Out Of

Something merchants do not stop to consider when signing a merchant agreement (especially for the first time), is the lease they are signing is non-cancellable, with very few exceptions. What this means is you WILL make the payments for the full amount of the term, unless you violate the contract or negotiate your way out of it.

Post why?

One reason is because the leasing company has already paid an upfront commission, which can be as high as $ 1,000 +, to the salesperson who got you to sign a lease. So they're definitely going to recoup what they've paid. But it goes beyond that.

Another reason it's so hard is because they have a recording of your voice over the phone agreeing to the contract terms, before you can get the equipment.

I hate leases. Yes, I'd make a great upfront commission. But if I did that I'd also be forcing my merchant to pay as much as 10 x's the value of the equipment by the time the lease expires. Forget that. I still want to be my clients friend 5 years down the road.

The Eternal Lease

Not only will you pay for the full term you agreed on for your lease, but the majority of leases will never end unless YOU STOP THEM. This is true even after the initial term of the lease has expired.

How can this be?


The contract usually states it will remain if effect for ____ number of years, and continue beyond that until either party stops it. Often, they'll insert a clause stating it will automatically renew itself in 1 year increments, unless the merchant stops it, in writing, at least 30 days prior to the expiration date. Meaning the contract will perpetually renew itself, until the merchant ends it ..

This means that unless you have read your contract and written down when it ends you can end up being "eternally bound" to it. (What an ugly way to do business).

How To Legally Get Out Of The Lease

To end the lease you will need to know the terms and exactly what's written in the contract. Here are 4 ways most of the leases I've encountered are structured to release you from further obligation – from "good" to worst.

  1. A $ 1.00 buyout. This means when the lease expires you can get out of it by paying $ 1.00 and you now own the equipment. As far as leases go this is the one that's the most fair (other than outright owning it, which a few rare contracts allow)
  2. Fair market value This is saying that at the end of the lease term the leasing company will determine the current market value and require you to pay it to keep the equipment and end the lease.
  3. Send it back. I find this one particularly disgusting. After paying possibly 10 x's the value of the machine over a 4 or 5 year period the leasing company demands you return the equipment to them or they'll continue to debit your checking account – "eternally".
  4. Lease buyout This is where they want you to pay for the remaining months of the contract and then the lease is over. I've listed this as the worst, but it's only the worst if you've just started the lease, meaning it can potentially cost thousands of dollars, and again – at up to 10 x's (or more) of the value of the terminal .

In Summary

With options like those listed above it's no wonder they make sure to get your voice on record over the phone agreeing to the terms they state before you get the equipment. Unfortunately, they do not disclose all the facts. If they did you probably would not go through with it.

Basically, they only get you to verbally commit to a "non-cancellable" lease, at "x" amount of dollars, for "x" number of months.

My suggestion? If I was obligated to an equipment lease I would immediately get out my contract and do the following:

  • Understand the terms of ending it … ie, $ 1 buyout ?, fair market value ?, return equipment? etc.
  • I would find the exact month the lease was scheduled to expire – and
  • I'd get out my calendar and mark it for 60 days before the expiration date, upon which time I'd –
  • Send a certified letter stating that I want out of the lease on the expiration date

NOTE: Something most merchants do not understand is that in the majority of cases the lease WILL NOT END UNLESS YOU TAKE ACTION. That means even if it's called a "36 month" or "5 year" lease the timeline is only to state when you are eligible to end it – not when it will end.

Just writing about how these companies do business is almost enough to make my blood boil. And it should be enough for you to proceed with caution when leasing credit card equipment!

Source by Virgil Stanphill

How to Quickly Calculate Sales Tax

In the store, you will often see people pull out a calculator as they try to determine what the sales tax will be on an item. However, if you do not have a calculator or wish that you could calculate sales tax manually, I am going to show you how to figure sales tax in your head very quickly.

I recall being out at an appliance store with my friend Mary a few months ago as she was looking into buying a new refrigerator. Her goal was to buy a refrigerator under $1,000 dollars. At the store she spotted a beautiful model that I had not seen before but the price was $950 dollars.

Mary, excitedly, said, “This is it. This is the one that I am going to go with.”

“But,” I protested, “this refrigerator will cost you over a thousand dollars with the sales tax.”

Mary, like many of us in this situation, was not factoring in the tax on the item. And obviously, the bigger the price of the item, the larger the sales tax is going to be. So, how can we teach Mary and others to quickly calculate this taxes in their head?

Well, it is rather easy to determine the tax manually if we use what I will call the “rule of 10 percents”.

The “rule of 10 percents” allows us to quickly estimate sales tax without the need for a calculator. We can use this rule to easily come up with a number that will be very close to the actually tax of an item. And, if we want to be very precise, we can use this rule to get the number almost exactly.

Let’s have a look at how this system to quickly determine what the final coast will be. When Mary and I went out to buy the refrigerator, we were in California which has the highest state tax at 8.25%. With our 10% rule, we can quickly estimate that 10% of the $950 refrigerator would be $95 simply by moving the decimal point over one spot to the left. To get more specific, since California is at 8.25%, we can attain the value of each 1% simply by taking 10% of the 10%, which would be $9 (we won’t factor cents in this equation as it makes it easier).

Thus, we now know that 10% of the refrigerator is $95 and 2% of the refrigerator is $18. If we subtract $18 from $95, we arrive at $77, which represents an 8% total.

If we want to go further and calculate to a near exact amount (the.25%), we can say that 10% of the 1% would be 90 cents. If we multiply that by 2.5, we arrive at a figure of $2.25. Now, let’s add that to the 8% amount of $77 and we arrive at a total of $79.25.

When we use a calculator to figure the tax on this item, we can see that our manual sales tax calculation brings us to within $1 of the actual sales tax of $78.38.

So, the next time that you do not have a calculator, do not fear. Simply use this “rule of the 10%” to quickly calculate sales tax manually.

As a footnote, Mary bought the refrigerator anyway.

Source by Richard Tyler C

How to Manage a Shopping Centre Successfully

Managing a shopping centre is a specialised process that needs a good property manager who understands the property type and what is required to optimised property performance for the tenants and the landlord.

Retail property is special when it comes to function and performance. It takes ongoing constant work to nurture a retail property to success. You cannot put tenants in the property and then let things just happen. A successful retail property is all about strategy and implementation.

Rents and leases are only a small part of the shopping centre management process. Consider this list.

  1. Rent optimisation for the landlord given the business plan for the property
  2. Realistic occupancy costs that do not put the tenant out of business
  3. Placement of the property in the local community and how it will serve the community
  4. Lease incentives to keep current tenants
  5. Tenant mix to help the property be successful
  6. Lease incentives to attract new tenants
  7. Tenant communication to keep occupancy up and conflict to a minimum
  8. Landlord reporting processes that keep the property information flowing and assist the decision process
  9. Rent review processes that stabilise growth of rent without creating a vacancy blowout
  10. Outgoings management to minimise expenditure whilst running the property to acceptable levels of operational performance
  11. Maintenance management to keep the property performing financially and physically
  12. Budgeting of the shopping centre income and expenditure so the targets for the property are reached
  13. Marketing the property to the community and the potential customer to optimise the trade and turnover for tenants
  14. Lease negotiations for vacant space

The list is not complete but shows you the most important elements of control in shopping centre management. A property manager should seek to keep these items under control at all times.

The tenant mix in a retail property is the main strategy that will help it be successful. When you choose the right tenants for the property and help them to trade through directed marketing of the property, you are heading down the right path to progress.

The tenant mix is a product of choice; a choice of what the property is to the community and how you will make it happen. The retail property may be any of the following:

  • Local Strip Shopping of a small group of single shops
  • Convenience Shopping with one anchor tenant
  • Neighbourhood Centre with one or more anchor tenants
  • District Centre with two or more anchor tenants and many small specialty retailers
  • Regional Centre with three or more anchor tenants and a large number of small and medium size specialty retailers

When you know the customer base you serve, and you know why they will visit the property, then you will know the tenants that are required in the tenant mix to make the property successful. Your tenant mix and strategy can be built around these elements. From that point onwards it is a matter of attracting the customer to visit the property and spend money. That is where Shopping Centre marketing takes over.

Source by John Highman

List of Buffalo NY Apartments That Approve With Bad Credit and a Broken Lease

Are you looking for an apartment to lease in Buffalo NY but have bad credit, a previous broken lease, bankruptcy or criminal record and are worried you will be denied? Perhaps you've already applied and have been turned down by apartment after apartment. This can be a very frustrating ordeal indeed especially if you have already paid the deposit and have been led to believe that an approval is forthcoming. Many individuals and families go through this every day and this is also compounded by the fact that apartments that do offer second or third chance renting are hard to find.

One of the reasons why apartments of this caliber are difficult to located is because they do not formally advertise in the mainstream media. The reason for this is that they want to continue attracting quality tenants who have excellent credit. If you have been looking for a second chance Buffalo NY apartment that approves even with poor credit and / or a broken lease, here are a few locations that you can look at:

  • Allentown
  • Black Rock
  • Delaware
  • Downtown Buffalo
  • Elmwood Strip

We mentioned that the frustration in finding an apartment that will rent to customers who owe on previous apartments or who have a felony / misdemeanor can be aggravated by the fact that they are difficult to locate owing to their reluctance to advertise. But this does not mean that all apartments are alike. There are a few units scattered all over certain locations of the city that are willing to work with tenants with a not-so-rosy credit.

One of the best ways to locate these apartments is to use the Internet. While we mentioned that these apartments rarely advertise, some do and a careful and diligent search can unearth useful results. The Internet is also useful in doing price comparison, and also reviewing what other tenants have said regarding their experience in that particular property

Apartment locators are also beneficial because they may know a few locations that are lenient toward people with problematic credit or rental past. They also have long-term relationships with many leasing managers and these can be handy.

Hunting for apartments in Buffalo if you have tarnished credit or bad rental history can be a challenge but with proper tools and diligence you can lock onto a great apartment that will instantly approve you. We can not promise that this will be easy as most of the apartments routinely conduct credit checks or background checks and will also peruse criminal history. But hundreds of individuals and families have found excellent living quarters in Buffalo even with bad credit.

Source by Jimmy Jamm

What is a Certified Structured Settlement Consultant?

In the financial world, the name of the game for prestige is designations. The letters after an advisor’s or consultant’s name says a lot about their background, training, expertise, and professional focus. Popular designations such as the CFP (Certified Financial Planner) or the ChFC (Chartered Financial Professional) are often readily recognized by the general population. When you get into the more obscure designations, the origin and meaning of the credential becomes somewhat obscure, and is only really understood amongst professionals. One such designation in the financial world is the CSSC or Certified Structured Settlement Consultant.

Spelling out the acronym CSSC goes a long ways in explained what the designation actually covers. Anytime that a field of practice becomes inundated with new faces looking to capitalize on the market, the seasoned veterans of that area of interest are going to look for ways to not only distinguish themselves from the crowd, but to assist the general population in weeding out the inexperienced or unknowledgeable consultants.

Those not dedicated to their field of study or those just looking to do the bare minimum for a paycheck will rarely commit themselves to the additional cost and educational requirements of a professional designation. To receive the CSSC, the applicant must not only have at least two full-time working years in the industry, but they must also enroll in a 4-day classroom and coursework structure with a comprehensive exam at the end of the training.

The Certified Structured Settlement Consultant program is offered through the National Structured Settlements Trade Association in conjunction with the University of Notre Dame. The cost of the program is in the range of $3000 – $5000 per applicant, minus the cost of books. The program attempts to educate consultants in different areas pertaining to structured settlements, including Medicare, settlement planning, fixed annuities, claims, tort law, and a number of other applicable topics.

A combination of the cost of the program, the time requirement, and the effort needed to get the designation have narrowed the field of candidates in the structured settlement arena. An advisor with this designation may not be more qualified than other professionals, but you know that they are dedicated to their profession and have taken the necessary effort to remain abreast of the industry’s knowledge. Whichever advisor you choose to go with, it is important that you are able to establish a relationship of trust with them. A designation is not a substitute for trust.

Source by Ryan Whittaker

5 Secret Steps of the Bonded Promissory Note Under UCC and Other Federal Law

The bonded promissory note pays your debts and creates debt for you under U.C.C. and other Federal Law. You already know that your mortgage promissory note and mortgage contract got you into debt when you purchased your home or commercial property, so we will concentrate on the secrets of the bonded promissory note to get you out of debt in the following article. The secrets are:

  1. Knowing the bonded promissory note law is most important.
  2. Filing the complete U.C.C.1 information is the key
  3. Knowing your bond number is crucial
  4. Knowing who to make the bonded promissory note out to is very important
  5. Knowing the judicial side will get you home or commercial mortgage and note debt free

All the products of the economic system are pre-paid by virtue of public policy Law (P.L 73-10), which no longer exists constitutionally, article 8 and 10, authorizing gold and silver money to “pay” at law with. You have the right to discharge any debt public or private since June, 1933. The bonded promissory note can be used to offset any debt. The IRS recognizes bonds as a form of payment. The instrument tendered to the bank and negotiated to the United States Treasury for settlement is an “Obligation of THE UNITED STATES, BANKRUPTCY” under Title 18 USC Sect.8, representing a “certificate of indebtedness… drawn upon an authorized officer of the United States”, and in this case, the Secretary of the U.S. Treasury.

When you file a complete UCC1 financial statement consisting of about 24 pages, you are the Debtor as well as the Creditor of everything you now own or will own in the future. This UCC1 form is recorded with your Secretary Of State and is then public record. This gives you control of your value and property as the executor and administrator of your straw man corporate entity under the HJR 192 law. This is a very important step in the bonded promissory note debt relief process and should not be left out.

The bond behind it started when you were born and birthed, as a ship at dock, under maritime law, then the State issued you an original certificate that is kept in your State Capitol, like a Bill of Lading, or ship’s cargo, that has your bond number series on it in red either on the front of back. This is your bond number(s) with your State and Federal Government, along with your social Security Number, that gives your Straw Man in all capital letters, under Public Policy mandated by 73-10, HJR 192, where the government of the United States took away your gold/silver backing of the currency making it impossible to “pay” at law for anything that makes the bonded promissory note possible for paying your debts. The government seized the gold in 1933, and now must pay the bills for us according to public law HJR 192. It is your very inability to pay at law as a result of this executive order that gives you the ability/authority to demand that the items be treated as pre-paid using the bonded promissory note and/or Bill of Exchange which are considered money under UCC Article 2.

You must make your bonded promissory note to the right person or entity. This depends if you are in mortgage foreclosure or current with your bills. Example: If you make it out to the foreclosing attorney in hopes that it will get to the bank, you just gave the attorney thousands of dollars and your mortgage will be foreclosed on, because the bank did not receive your paid in full tendered payment.

You then must go to court on the judicial side to get your home or commercial mortgage and note debt free and acknowledged by the banks and the world. This is done through a quiet title law suit where you are the plaintiff and the party being harmed.

All 5 steps are mandatory in order to use the bonded promissory note to pay all your debts. This should enable you to be debt free as under Public Policy 73-10, HJR 192, the straw man law of 1933.

Source by David A Young