IS THE DEBT REMOVAL PROCESS LEGAL?
YES! This is an accounting method any attorney would use to resolve the conflict the lender is initiating by sending you a bill or placing something on your credit report. The focus is to just ask for the proof that the amount is owed (and watch as they cannot "find it" - sending account statements instead).
WILL THIS AFFECT MY CREDIT REPORT?
YES, and for the better! It will remove the negative account from your credit reports.
WHY DOES THIS WORK?
Let’s use an example. If you have a COPY of a $100 dollar bill AND an ORIGINAL $100 dollar bill, which one would you accept as payment? The original right?
That “FEDERAL RESERVE NOTE” is called a PROMISSORY NOTE (legalese for an "IOU"), it's a promise to pay. Anyone can have a copy BUT only the person with the original $100 has true ownership.
So, if a company says you owe something and they don't have the original promissory note, they are LEGALLY collecting a fraudulent/invalidated debt.
DO I REALLY OWE NOTHING?
In order to be the holder in due course of a promissory note you must hold the original note in your hand. And if they do [never has happened] then they have to have all the original contracts that prove how they got ownership to that note, known as a "chain of title". All other documents are hearsay and NOT evidence!
WHAT IF EVERYONE DID THIS?
Then corporations would DIE and personal businesses would THRIVE. This type of debt removal only works for unsecured debt (debt without property attached to the contract). Secured debt would be: a car, home, boat or anything you signed as "collateral" for the extension of credit. This process does not work for private contracts between real people. If you wish to remove secured debt, it may result in loss of the collateral.
DOES THIS WORK OUTSIDE THE USA?
While not intended for students outside the USA, the process is simply asking for proof. The money-slave system is the same everywhere. All banks in every country have been using the exact same exploit (securitization) since fiat currency was (re)invented. We have heard of success from every country that has a basis of common law.