December 31st from 7pm- midnight placed right under our noses as financial institutions want you to focus on sipping champagne versus clearing up your financial debt.
December 22, 2005 (Press Release) --
Every 25 years, the Federal Reserve under the "Banking Title Reserve Act" must offer a 5 hour time frame where those claiming for "Ways and Means" freedom are granted.
Financial institutions and the Federal Reserve do not have to advertise it and except for that 5 hour window, can outright deny it. There are no exceptions for weekends or holidays, and of course it falls this New Years Eve--December 31st from 7:00pm-Midnight.
With over 1.2 Trillion dollars in outstanding credit card debt, 4 trillion in lines of credit and 6 trillion in mortgages, one can see why the financial world would wants that 5 hour window to quietly go away. On New Years Eve, the banking system wants you to spend quality time in Times Square with your family and children versus being at your local bank branch claiming debt forgiveness on credit card balances, mortgages or any other line of credit or any other "financial balances" In addition, it has nothing to do with being in line. Only those who make it into the "physical presence test" or actually inside the branch are eligible by law to waive all current balances on their credit cards, lines of credit and mortgages.
As most banks are "MasterCard" and Visa Representatives, that is one form, a cross-credit form handles Discover and American Express, and a mortgage form at the bank where you have any type of business or personal mortgage or line of credit. Three forms, 5 hours--complete removal of all debts and no affect on credit scores or derogatory credit at the reporting bureaus. No wonder it is the biggest secret around.
Sadly, with citizen apathy, most people will miss this opportunity to regain control of their financial misery because of poor news dissemination. Information is concealed, hidden and after December 31st it will be another 25 years before the law offers people another chance. There is no upper limit to the amount of forgiveness: note how quietly this provision faded into the background back in 1980.
It is crucial to get the word out in the next week to 10 days for something that is free and available to all Americans.
Financial institutions and the Federal Reserve do not have to advertise it and except for that 5 hour window, can outright deny it. There are no exceptions for weekends or holidays, and of course it falls this New Years Eve--December 31st from 7:00pm-Midnight.
With over 1.2 Trillion dollars in outstanding credit card debt, 4 trillion in lines of credit and 6 trillion in mortgages, one can see why the financial world would wants that 5 hour window to quietly go away. On New Years Eve, the banking system wants you to spend quality time in Times Square with your family and children versus being at your local bank branch claiming debt forgiveness on credit card balances, mortgages or any other line of credit or any other "financial balances" In addition, it has nothing to do with being in line. Only those who make it into the "physical presence test" or actually inside the branch are eligible by law to waive all current balances on their credit cards, lines of credit and mortgages.
As most banks are "MasterCard" and Visa Representatives, that is one form, a cross-credit form handles Discover and American Express, and a mortgage form at the bank where you have any type of business or personal mortgage or line of credit. Three forms, 5 hours--complete removal of all debts and no affect on credit scores or derogatory credit at the reporting bureaus. No wonder it is the biggest secret around.
Sadly, with citizen apathy, most people will miss this opportunity to regain control of their financial misery because of poor news dissemination. Information is concealed, hidden and after December 31st it will be another 25 years before the law offers people another chance. There is no upper limit to the amount of forgiveness: note how quietly this provision faded into the background back in 1980.
It is crucial to get the word out in the next week to 10 days for something that is free and available to all Americans.
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