Selling Unclaimed Debt...

I've found a new way to "write off" debt, once more! It's theory (at this point) but, from the law's point-of-view, it look's VERY promising... (Also, I can guarantee, I can make it work without a hitch!!)

So, you don't want to pay tax's... You want to get rid of it, of course and claim's on debt (for instance, the IRS) is 'claimed' at the end of the year (in their, instance).... You take a ad out, in the paper stating something to this, effect:

THIS IS A NOTICE TO THE IRS UNDER THE SALE OF UNCLAIMED PROPERTY ACT. SAID PROPERTY IS IN THE FORM OF PAYMENT INSTRUMENTS AND UNDER THE LABOR AND STORAGE LIEN ACT, I CAN SELL THEM IF, YOU DECIDE NOT TO MAKE A CLAIM. I HAVE TO GIVE NOTICE, TO ALL AGENTS AS NOTICE TO AGENTS IS NOTICE TO PRINCIPAL OF THE ABANDONMENT OF SAID INSTRUMENTS IN THE SUM OF $XXX.XX, $XXX.XX, ect ect all accounts. THIS DEBT CAN BE SOLD UNDER THE FAIR DEBT PRACTICE ACT [federal subsection if, you like].

Here's the State Of Illinois (for example): 770 ILCS 90-  Sale of Unclaimed Property Act.

Now, with the PUBLIC ON NOTICE, certified mailing of your "offer" to sell your debt[s] (e.g. the checks, debt instruments they send, and/or you received by your employer) to the IRS and a Fair Debt Practice Act, your ready to do what most have wet-dream's of doing: Selling the debt..

This is the easiest part of the process.. Before you attempted to sell the debt and its ran its legal amount of time (REQUIRED by your state's, law) you want to put a promissory note, in place. The idea is to collateralize the debt, with the note (i.e. promise to pay back the buying CREDITOR). When the note  is posted, you then, offer to sell your debt (of course, no one wants to literally buy IRS debt!). 

If, you have a friend, this will not FAIL YOU, NOW! You go into a auction house with the legit pretense of selling your note to a someone, in public. Once your up for sell, you'll take the note, you filed with the Deed's office and offer the debt's ON PROMISES TO PAY BACK (e.g. IOU's).. When the note is "secured" the first creditor will be your friend, the lien holder. This can be done with lien's, administrative debt's, and federal loan's (it'll take a little more law to pull private debt out of a rabbit hole)..

Again, if you have question's don't think twice on dropping me a line for a 'word of advice'. I want to advice anyone that, want's something for 'free', I just gave it to you, with the above (so, enjoy or you'll have to pay for the luxury of having it professional done by me, for you!)..

Like always, this is another day in, Politics & MoneY!

The Man- Politics & MoneY

commonbonding@gmail.com

803-856-1470

P.S. All state's, has some sort of abandonment or sell clause, law's for allowing the publication, consolidation and sell of anything that, has NOT been presented with a claim to it as a form, of personal property..