How do I discharge a debt UCC?

How do I discharge a debt UCC?

Discharge. In instances where the debtor had paid less than 60 percent of the debt owed, the creditor can retain the collateral in exchange for discharging the debt. The creditor must give the debtor and any other lienholders a written proposal and the debtor and other creditors must accept the terms of the agreement.

Is strawman real?

The strawman theory is recognized in law as a scam; the FBI considers anyone promoting it a likely fraudster, and the Internal Revenue Service (IRS) considers it a frivolous argument and fines people who claim it on their tax returns.

What is the HJR 192?

On June 5, 1933, Congress enacted HJR-192 to suspend the gold standard and to abrogate the gold clause. This resolution declared that any obligation requiring “payment in gold or a particular kind of coin or currency, or in an amount in money policy; and . . . …

Is an endorser liable on a check?

Sec. 42a-3-415. The obligation of the endorser is owed to a person entitled to enforce the instrument or to a subsequent endorser who paid the instrument under this section. …

What does strawman name mean?

straw man. n. 1) a person to whom title to property or a business interest is transferred for the sole purpose of concealing the true owner and/or the business machinations of the parties.

What types of debts are not dischargeable?

Nondischargeable debt is a type of debt that cannot be eliminated through a bankruptcy proceeding. Such debts include, but are not limited to, student loans; most federal, state, and local taxes; money borrowed on a credit card to pay those taxes; and child support and alimony.

What happens if a negotiable instrument is discharged?

Discharge of a Negotiable Instruments When the liability of the party, primarily and ultimately liable on the instrument, comes to an end, the instrument is said to be discharged. The discharge of the instrument results in extinguishment of all rights of action under it and the instrument ceases to be negotiable.

Can a secured party make changes to the UCC financing statement?

The secured party may make changes to the UCC financing statement (UCC-1), if they file an Amendment (UCC-3) which makes reference to the original UCC that was filed. Do not mistake the facts. The UCC deals only with secured or vested interest. However, the facts are clear.

What is the difference between UCC contract trust and direct treasury accounts?

UCC Contract Trusts and Direct Treasury Accounts There is a significant difference between the UCC contract trusts and direct treasury accounts which are used primarily for the trading of treasury bonds, which are managed by the bureau of public debt.

Is the UCC redemption process a deceptive maneuver?

Or is the entire UCC redemption process a deceptive maneuver, or trick, that will only bring about greater retaliation by the government agencies upon individuals associated with the process. The majority of lawyers view the entire UCC process only in terms of litigation, and adjudication.

What is the strawman’s account for?

This $1,000,000 (one million) account is for the Strawman, the fictional “person” with the name in all caps &/or last name first. It is there for the purpose of making book entries, to move figures, “digits” from one side of ledgers to the other.