July 23, 2025

Credit Card Confusion - the Illusion of Credit Card Debt

Credit Card Confusion - the Illusion of Credit Card Debt
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Season 1

What if your credit card "debt" isn't legally what you think it is? In this episode, we explore how banks create the illusion of money owed, & why the paperwork behind your plastic might not add up. Join Bonita & credit card expert Tommy Kilpatrick, as we unpack the legal & financial framework behind credit cards, revealing how banks create obligations out of thin air—and why you may have more power than you think. Watch out! You may get your paradigm shifted!

Ask Good Questions is broadcast live Wednesdays at 6PM ET on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Ask Good Questions is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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The topics and opinions expressed in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or it's employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Welcome to to Ask Good Questions Podcasts, broadcasting live every Wednesday,

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six pm Eastern Time on W four CY Radio at

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w four cy dot com. This week and every week,

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we will reach for a higher purpose in money and life,

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as well as a focus on health and wellnent. Now,

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let's join your host, Anita bell Anderson, as together we

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start with Asking Good Questions.

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Hello, and welcome to the Ask Good Questions Podcast. I

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am Benita bell Anderson, your host, and today we have

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something that I tell you what It's pushed my buttons

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a little bit. We're gonna be talking about credit card debt.

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But I have an expert that is going to maybe

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shift your entire paradigm. I'd like to invite Tommy Kilpatrick

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to the Proverbial podcast stage.

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Well, thank you very much, thanks for inviting me. I'm

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excited some pla.

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Yeah. Well, I like I was saying, I'm gonna probably

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re re ask some questions because this has made me

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really you know, for crying out loud. I'm a financial

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advisor and I shouldn't get this wrapped up with something

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like this, but he has such a unique way of

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looking at this. I felt like this was important for

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us to discuss and then I would love your feedback,

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as you know, as far as what you think. I'll

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also give you his information at the end so that

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you can contact him if you go, Wait a minute,

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what is this all about? So first, let me tell

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you a little bit about this guy. He's actually in

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the Philippines. I'm in Hawaii. He's in the Philippines. So

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he is a retired American living in the Philippines teaching

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farmers how to build dome structures with bamboo vertical gardening

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and to open free, self managed health care clinics. Maybe

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we should do something about that one of these days.

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He was born and raised in California. He has a

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double major of abnormal psychology and accounting. Or maybe this

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is going to be abnormal accounting. Huh, Tommy.

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Crazy, that's crazy.

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Author, teacher, entrepreneur, Twenty eight year marriage ended, He became

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homeless on purpose, and he had a voweve of poverty

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for ten years, living on farms on the East Coast

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and walks in faith with God. So, Tommy, I'm going

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to turn the time over to you. Why don't you

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give us the story about how this whole thing with

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your unique way of looking at credit cards came about.

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That's fine, thank you very much. Timon, author and I

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wrote a book on health and healing, and it was

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so popular that the company contacted me to do an infomercial,

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and this was in two thousand and four, so to

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test market different strategies, I was put on the radio

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as a guest for about six months, and so I

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lived on my credit cards. I had three cards and

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I looked on them. And then what happened is one

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of the talents got in trouble with the FTC. He

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made false claims about weight loss, and so the FTC

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came down hard on him and the company and all

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the new talents. Contracts were termining, and so I've left

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eighty five thousand dollars of credit card debt and that

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put me into a little bit of a depression. So

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working with Michleil children it helped to tell you the least.

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So then about a month into it, I kind of

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came out of a fog of depressions. How am I

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going to pay for this? Because I was promised about

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one hundred thousand dollars a month, so eighty five thousand

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was no big deal. And so also the expectations of

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making a kind of money was great, so that didn't

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all happen, so disappointment. But then I woke up one

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morning and I remember my dad being a CPA and

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I was in school to be a CPA. I never

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finished and got the credential, but I did the work

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of a CPA, and I realized that the bank did

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not have an invoice and they didn't have a debt.

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And then my memory goes back to my accounting class

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in banking, and we were given a manual called Modern

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Money Mechanic, and in that manual, on age six, it

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says banks accept a promisory note and then they write

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numbers into your free Chicken account. Basically, that's what it says.

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So I never signed a promisory note. At the time,

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my flon law was a judge and an attorney, and

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we had long discussions about how fraud undoes all contracts,

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so I don't have a contractual agreement with the bank

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through their fraud. So with his help, I filed three

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federal lawsuits against the banks, and in their depleting I

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explained the crimes they were committee and what they had

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done to me, and it wasn't a debt. So things

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are going on pretty good. We were coming up to

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a deposition date for the bank to provide me one

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of their people who's going to claim that I actually

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had debt and had the evidence. So then all of

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a sudden I was called into court and my falla

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was said, that doesn't happen. I mean, judges want to

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know what's going on in discovery. When are we going

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to do this for trial? I don't call the litigant

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in and without the other side. So I went in

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and judge said, mister Kilhaff, do you have a credit card?

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And I went, well, let me start at the beginning. Oh,

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we'll start at the beginning. Later, do you have a

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credit card? And I went, uh, well, now it started

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off as a gift card. Our opened, grow all it up,

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open that show me that card. So I opened up

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my wallet, showed me what's to say right there? Credit card?

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You're an idiot. Get out of here. So he dismissed

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all three cases against me. So then I'm going I'm

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walking out of court, going now what here's come to lawsuits? Here?

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It comes to everything. World's a turtle against me again.

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So bout a month later, I looked at my credit

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port and all three of the bank credit card debt

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was gone, was off my credit pord. So I never

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got a D nine ninety. See that's important. We just

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speak a little quickly about that. Is that when the

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bank loans you one hundred thousand dollars and you don't

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pay him back, they notify the IRS that you've got

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one hundred thousand dollars cash and you have to pay

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taxes on that, and on the other side you take

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in deduction. So the banks did not take an eighty

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five thousand dollars tax deduction. So that's because their network

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was alone.

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Well, and so the thing that you know because I

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talked to this guy for what two or three times

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because I'm trying to wrap my head around this. I

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was worried about, you know, appropriately paying your own debt.

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So so you talk about nuking credit card debt? What

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does that really mean? What are you talking about?

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Absolutely? And I asked, the good questions is a perfect show?

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She got here? So I asked, what I'm going to

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ask you a question.

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Well, all the things that I have gotten in trouble

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with in my life is because I didn't ask good questions, right,

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So it was it was like easy to name this

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because I knew that all the things that I wanted

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to talk about had to do with asking good questions.

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So we are maybe asking some good questions, but also

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maybe stretching people's beliefs on what they think. Is so

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with this topic today.

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Yeah, and this is a great question, I think. So

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is it possible that you, your audience and me, I'm

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including myself in this too. Is it possible that we

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have been lied to, indoctrinated and brainwashed? What do you think?

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Is it possible?

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Anything is possible? And I guess depending on who you

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would talk to at the bank, they it would all

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be like, well, what's the definition? What are you talking about?

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That's the critical point we're getting to. That's great, So

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we want to ask questions. So if you have been

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lied to, you can go wait a second, But then

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what if it's generational. What if you've been lied to

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generation generation for sixty years, you've been lied to, then

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it's in doctrination. But when you don't question it, it's

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now brainwashed. So what I'm trying to get through to

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your audience is that you don't happy brainwashed. You don't

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even realize even brainwashed, because you're not going to ask

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a good question. So we want to ask a good question.

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So the thing is, when we watch television, we see

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a bank robbery and so we say alleged. All I

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want you to do is add one word is alleged

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credit card debt. Now, once you start saying that, then

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the bank has to prove there's a debt. If you

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go into court and you use their language, you're going

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to lose. You're going to lose the argument. There's no

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way because if you say you have credit card debt,

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you've got it. You morally got to pay it, and

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that's what it is. You have a debt, so pay it.

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What I'm saying is there is a difference. And so

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that's what I'm trying to have your audience just start

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to ask a good question, is is it alleged? And

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now we get into that coming kind of an answer.

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Well, so what's the difference between actual debt that you

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really should pay and.

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A lunch debt? Yes? Well, the thing is there is

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true credit cards. Okay, Now, a true credit card is

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Let's say you need tires for your car, but you

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don't have the money. You know it's going to be thousand,

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fifteen hundred right before tires and balancing and put it on.

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So you go to the store to find out the prices,

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but you're tired. Are so bald, you're going to die

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if you dray another mile on his car in this car, right,

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and he's bad tires. So you say to them, I

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don't have the money. Oh well why don't you, Beneda

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just fill out our in store credit card application and

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if you're approved, we'll do it. And you apply, you're approved,

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they put tires on your car, You drive away without paying,

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right right, and then.

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You start making your month's payments on your not yet.

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Now this is from a store. So they send you

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a statement at the end of the month, and that's

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a true statement on it. It has an outstanding unpaid

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invoice and that's what you have to pay. So this

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is a legitimate credit card debt. When you have an

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invoice that you have not paid, you are morally obligated,

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legally oblieved to pay that debt. That's a true debt

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that they have an invoce. Now, my first job as

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an accountant, the CPA came up to me. I never

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met the guy. He came into my office. I'm sitting

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at my desk and my things sorted out to my

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first few minutes, and he's angry and he looks at

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me and he points his finger at and he says,

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if you pay from a statement, I'm going to fire you.

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That is in my head. That image is that he

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was a really nice guy, and all of a sudden's

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energy shage. He says, Look, if we get a statement,

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how do you know we didn't already pay it. So

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you never paid from a statement. I did that on

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purpose to put an impression on your head. They never

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pay from a state. You see the invoice here, I go, Yeah,

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it's bluck. It has no authority to pay. See a

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stamp right there. Yeah, that's an apartment head signature. Only

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paid from an invoice that my department head has already approved.

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So you never paid from a statement, never paid from

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an invoice unless it's been authorized to pay. I don't

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care if they're calling you. I don't want to hear

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their story about we're not paying them. There's a reason.

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So if there's a problem, you come to me and

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I will tell you which invoice to pay for, only

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from an approved invoice. So that is what has put

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in my mind. So the question is does the bank

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have an outstanding unpaid invoice?

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Usually not not on a credit lnel.

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Did the bank put tires on your car?

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No, merchant who's signed up with the bank.

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We're talking about credit. So if you when you go

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into a store like a general store years ago, Hey Charlie,

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I need five pounds of flour a pound of sugar,

231
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and I'll pay you when my crops come in. That's right,

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it writes it down. That is true. Credit. Credit means

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Latin to believe that you're going to pay, So there's

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a belief. So you had hires on your car, you

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didn't pay for them, and so you drove away. You've

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got a statement at the end of the month saying

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there's an outstanding unpaid invoice, so you have to pay it.

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That's morally, legally your obligation. However, how do you know

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the difference between a legitimate credit card and a phony one.

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Look on the back of your credit card. If that

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card says like Walmart or Amazon or any department store,

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and if it says issued by Bank of America, City Bank,

243
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Wells Fargo, Bank of London, Bank of Tokyo, but any

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bank in the world, then it's a phone car. It's fraudulent.

245
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It's not a true credit card because they didn't put

246
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the tires on your car and they didn't do a

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service for you that they do not have an outstanding

248
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unpaid influice.

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They're like a goal between them.

250
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Maybe well there is now Now we have to before

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00:14:23.840 --> 00:14:26.480
we go into that, we can go into the loan cart.

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So we have to first establish that the bank could

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not have given you credit. They could not have given

254
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you a credit card. Now the argument is they had

255
00:14:34.679 --> 00:14:37.919
a loan. But if you think about it, a merchant

256
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can't do both. The merchant's not going to loan your

257
00:14:40.519 --> 00:14:43.919
fifty bucks and then also sell you or sell you

258
00:14:44.000 --> 00:14:46.200
products and services that you have to pay for later.

259
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They're going to do one or the other. So the

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00:14:48.000 --> 00:14:51.399
banks are only involved in loans. So if we can

261
00:14:51.480 --> 00:14:54.799
establish right now that the bank does not have an

262
00:14:54.799 --> 00:14:58.480
outstanding unpaid invoice, there isn't a debt. That's not a

263
00:14:58.480 --> 00:15:02.840
credit card. Now we go into housaw have certain.

264
00:15:03.720 --> 00:15:10.000
Okay, well, are there so? I mean I would imagine

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that everyone who's listening has got credit cards. Are there

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legal or contractual weaknesses maybe in standard credit card agreements?

267
00:15:19.600 --> 00:15:23.919
Oh? Sure? And that's the thing is that when you

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00:15:24.080 --> 00:15:28.480
have you have, if you use the card, you are

269
00:15:28.799 --> 00:15:31.159
found by their terms and conditions, and that's how they

270
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got you. However, the Supreme Court has ruled over and

271
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over again that fraud undoes all contracts. Courts are not

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set up so criminals can bring their victim in and

273
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abuse them even more so, that's not set up for that.

274
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So we can we do not have a contractor agreement

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if they have not disclosed. And that's the whole point

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of this thing is that law is language. Language is law.

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So if you say you have credit card debt, you

278
00:15:59.799 --> 00:16:02.039
have it, you've got to pay it. There's nothing you

279
00:16:02.120 --> 00:16:04.600
can't get out of it. And you see, if you

280
00:16:04.639 --> 00:16:08.039
start using the banks the criminal language, then you're going

281
00:16:08.080 --> 00:16:12.360
to lose. So this is what happens. So the bank

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00:16:12.440 --> 00:16:16.600
wants customers, Am I right? They spend money to get

283
00:16:16.639 --> 00:16:20.519
you as a customer. Years ago, they would purchase toasters

284
00:16:20.960 --> 00:16:24.159
and wall clocks, put them in the bank and entice

285
00:16:24.200 --> 00:16:26.399
you to come in to open up an account, and

286
00:16:26.440 --> 00:16:30.440
they would give you a toaster. Okay, that's normal business,

287
00:16:30.480 --> 00:16:34.679
am I right? So that's what they did. Now. One

288
00:16:34.679 --> 00:16:36.440
time they had an ad in a paper and it

289
00:16:36.519 --> 00:16:40.799
said deposit twenty five dollars and in ninety days we'll

290
00:16:40.879 --> 00:16:43.360
match it. So what did I do? I took my

291
00:16:43.519 --> 00:16:47.320
twenty five dollars, went into their bank, deposited, waited ninety

292
00:16:47.360 --> 00:16:50.320
one days, and went in and drew out my twenty

293
00:16:50.360 --> 00:16:54.919
five dollars. Plus they're twenty five dollars. Now I got

294
00:16:54.919 --> 00:16:57.320
a question for you, and close the account. Now I

295
00:16:57.320 --> 00:16:59.960
get a question for you. Did I rip off the bank?

296
00:17:02.440 --> 00:17:04.359
No? I mean they always meant to give you the

297
00:17:04.400 --> 00:17:07.200
twenty five. They're just hoping that down the road you're

298
00:17:07.240 --> 00:17:08.720
going to be paying interest to them.

299
00:17:09.680 --> 00:17:12.960
Right, they're hoping to because of customer makes some money. Now,

300
00:17:13.000 --> 00:17:15.920
did I steal twenty five dollars from the bank?

301
00:17:16.839 --> 00:17:17.960
No?

302
00:17:17.960 --> 00:17:22.039
No, Now is that in moral? What I did? Is

303
00:17:22.079 --> 00:17:22.839
that in moral?

304
00:17:24.240 --> 00:17:24.440
No?

305
00:17:24.519 --> 00:17:29.759
I mean they they they willfully put twenty five dollars

306
00:17:29.799 --> 00:17:33.119
into your bank. That was a marketing It was a

307
00:17:33.160 --> 00:17:34.680
marketing thing that the bank.

308
00:17:34.480 --> 00:17:38.759
Did, right, So is not immoral. Now remember this because

309
00:17:38.759 --> 00:17:41.480
we're going to come back to that later and our talk. Okay,

310
00:17:41.839 --> 00:17:46.359
So what they did is they they sent me a

311
00:17:46.519 --> 00:17:53.119
five hundred dollars gift card. What Okay, banks are only

312
00:17:53.160 --> 00:17:55.680
about loans. So when you go into a bank with

313
00:17:55.720 --> 00:17:58.839
no money, you hope to come out with money. Unless

314
00:17:58.839 --> 00:18:00.839
you have a gun, we're not talking about that. You

315
00:18:00.880 --> 00:18:02.599
go into a bpen no money and you hope to

316
00:18:02.599 --> 00:18:05.480
come out with money, and you get a loan. Okay,

317
00:18:05.640 --> 00:18:07.359
So I have a question for you. Here's a good question.

318
00:18:08.319 --> 00:18:11.759
If you applied for a loan and they turn you down,

319
00:18:12.160 --> 00:18:13.559
do you still get the loan?

320
00:18:14.559 --> 00:18:15.720
No?

321
00:18:15.720 --> 00:18:19.000
No, If you apply it and they do accept you,

322
00:18:19.279 --> 00:18:20.839
what you do is you go into the bank and

323
00:18:20.880 --> 00:18:25.400
you fill out loan documents. Am I right? So in

324
00:18:25.519 --> 00:18:29.000
those loan documents you have to prove you have income,

325
00:18:29.960 --> 00:18:31.359
am I? Right?

326
00:18:31.559 --> 00:18:33.960
Because they want you to. They want to be paid back.

327
00:18:34.759 --> 00:18:36.720
They want to be paid back. But what happens with

328
00:18:36.799 --> 00:18:39.799
the judge says to the bank, you're getting loans to

329
00:18:39.880 --> 00:18:46.160
people who can't pay it back. That's predatory, am I. Right? Yeah, Okay,

330
00:18:45.960 --> 00:18:49.640
so the bank have to do their due diligence to

331
00:18:49.759 --> 00:18:52.480
prove anything in the future that they did the work

332
00:18:52.519 --> 00:18:56.759
to have you prove bringing income subs in group, your pension,

333
00:18:57.160 --> 00:19:00.160
and they actually have evidence that you can actually pay

334
00:19:00.240 --> 00:19:04.640
this loan back. Now, they also have collateral. So the

335
00:19:04.680 --> 00:19:08.400
collateral your house, your card. If you do a personal loan,

336
00:19:08.480 --> 00:19:12.000
you put your yacht up for collateral, they legally can

337
00:19:12.039 --> 00:19:15.960
take it away from you, sell it and take the money. Now,

338
00:19:16.000 --> 00:19:18.960
if they're short, that's their problem, right, But what if

339
00:19:18.960 --> 00:19:22.000
they're long. What if you owe one hundred thousand and

340
00:19:22.039 --> 00:19:24.279
they confiscate your million dollar a yacht and bring in

341
00:19:24.279 --> 00:19:27.160
a million dollars, They don't keep nine hundred thousand dollars.

342
00:19:27.240 --> 00:19:30.160
They have to give that back to you. Right, there's

343
00:19:30.240 --> 00:19:32.680
your asset. You only put up one hundred thousand a million,

344
00:19:33.079 --> 00:19:37.160
So that's exactly what they did when they sent you

345
00:19:37.319 --> 00:19:40.440
a five hundred dollars credit card. You think it's a

346
00:19:40.440 --> 00:19:43.720
credit card, you pay it, you owe it, it's a

347
00:19:43.960 --> 00:19:47.759
gift card. If I give you something Banita is called

348
00:19:47.799 --> 00:19:50.400
a gift. If I sell it to you, then I'm

349
00:19:50.400 --> 00:19:51.720
an a merchant. I sell it to you and I

350
00:19:51.759 --> 00:19:53.920
brought it. But if I loan it to you, then

351
00:19:53.920 --> 00:19:57.359
you got to have loan doctors. So in that loan process,

352
00:19:57.440 --> 00:20:01.200
what's also happening is you have to have credit record

353
00:20:01.440 --> 00:20:05.000
that shows some history, and your credit score determines your

354
00:20:05.240 --> 00:20:08.200
interest rate. But the last thing you signed to get

355
00:20:08.200 --> 00:20:11.920
that loan is a promisory note, a promise that you're

356
00:20:11.960 --> 00:20:12.880
going to pay them back.

357
00:20:14.599 --> 00:20:18.000
Right, But isn't there like a promisory note? I mean,

358
00:20:18.200 --> 00:20:21.279
I'm hearing you say you've got to have a promisory note.

359
00:20:21.839 --> 00:20:24.960
Isn't there a promissory note in the terms and conditions

360
00:20:25.000 --> 00:20:30.240
of the credit card because you're promising to make monthly payments, right,

361
00:20:30.519 --> 00:20:31.039
And that's.

362
00:20:30.880 --> 00:20:33.799
What maybe implies that. But you have to sign a

363
00:20:33.799 --> 00:20:35.880
piece of paper to get a loan. And as in

364
00:20:36.039 --> 00:20:38.200
my show link, so don't believe anything I have to

365
00:20:38.240 --> 00:20:41.079
say today. Look at the show notes. There's the three

366
00:20:41.119 --> 00:20:44.400
links there. Read them yourself. And take this podcast to

367
00:20:44.480 --> 00:20:48.119
your CPA or anyone who's had one class of accounting

368
00:20:48.480 --> 00:20:51.160
and ask them, is this guy right? In my book,

369
00:20:51.359 --> 00:20:53.799
there's a chapter about what went on in the courtroom

370
00:20:53.839 --> 00:20:58.759
scene of an attorney and interviewing a CPA expert witness,

371
00:20:59.119 --> 00:21:01.759
and the judge asked me do I have a credit card?

372
00:21:02.039 --> 00:21:04.240
And I said yes? Was I wrong? And the CP

373
00:21:04.400 --> 00:21:06.680
will take you through all the steps that you are wrong.

374
00:21:06.759 --> 00:21:09.559
That wasn't there a credit card? So right up front,

375
00:21:09.640 --> 00:21:12.480
I'm saying, don't believe me. Do your own research and

376
00:21:12.640 --> 00:21:15.720
take this and have your third party, the CP tell

377
00:21:15.720 --> 00:21:18.160
you that I'm actually one erd percent correct on my

378
00:21:18.440 --> 00:21:21.480
theory that the bank does not have an invoice too

379
00:21:21.680 --> 00:21:24.880
there never was a loan. Now I have in their

380
00:21:24.920 --> 00:21:29.119
second link in your show notes is my annual called

381
00:21:29.359 --> 00:21:32.680
Modern Money Mechanics, and in there it says what things

382
00:21:32.759 --> 00:21:35.519
do to make a loan is they accept a promisory

383
00:21:35.599 --> 00:21:39.319
note and they write numbers in your checking account. Okay,

384
00:21:39.920 --> 00:21:43.880
so they can they have to accept a promisory note.

385
00:21:43.960 --> 00:21:47.000
Now think about this. Let's say let's ask you a question,

386
00:21:47.039 --> 00:21:51.880
a good question. You have purchased a fractional stop of

387
00:21:52.279 --> 00:21:55.440
a bank. You're now a bank owner. It's your money.

388
00:21:55.839 --> 00:21:58.880
Do you want your money in your bank to be

389
00:21:58.960 --> 00:22:00.920
loaned out to people who can't pay it back?

390
00:22:02.279 --> 00:22:04.440
Well, no, of course not. You're gonna want to make

391
00:22:04.480 --> 00:22:05.480
it loans.

392
00:22:06.119 --> 00:22:09.640
Right would you? Would you loan out your money to

393
00:22:09.680 --> 00:22:12.559
someone who has no collaterally well.

394
00:22:12.480 --> 00:22:16.039
No, because you got that would not be good sense.

395
00:22:17.480 --> 00:22:20.519
And now here's the best question. Would you loan out

396
00:22:20.559 --> 00:22:23.440
your money to someone who doesn't promise to pay it back?

397
00:22:24.599 --> 00:22:24.759
No?

398
00:22:25.880 --> 00:22:29.079
No, So even though it's terms and conditions used the card,

399
00:22:29.279 --> 00:22:31.400
it doesn't say in there that you owe the money

400
00:22:31.480 --> 00:22:35.279
because you're going to have to write out I Banita Bell,

401
00:22:35.799 --> 00:22:38.759
who is going to promise to pay back? Groove the

402
00:22:38.799 --> 00:22:41.039
bank and I promise to pay Oh if revolving credit,

403
00:22:41.480 --> 00:22:43.759
it's still a loan. So the banks are only set

404
00:22:43.799 --> 00:22:46.359
up for loans. So there never was a loan. So

405
00:22:46.519 --> 00:22:49.039
what they did is they sent you a five hundred

406
00:22:49.079 --> 00:22:52.000
dollars gift card. If you say they sent you a

407
00:22:52.000 --> 00:22:55.279
five hundred dollars credit card, your suck. You're using the

408
00:22:55.319 --> 00:22:58.839
criminal's language and a court and a law and language

409
00:22:59.279 --> 00:23:01.480
you have no argue. But if you use a truth,

410
00:23:02.119 --> 00:23:06.200
because they gave you the card, you applied and sometimes

411
00:23:06.319 --> 00:23:09.200
you didn't apply. It came in the mail. Remember that

412
00:23:09.640 --> 00:23:14.240
credit card was coming the mail. That's you again, send

413
00:23:14.240 --> 00:23:17.000
credit cards out to people willy nilly and let them

414
00:23:17.079 --> 00:23:19.079
charge this all up and not pay for it. They'd

415
00:23:19.119 --> 00:23:22.759
be stupid banking problem procedures, so they don't do that.

416
00:23:23.160 --> 00:23:26.119
So they sent you a gift card. So here's a

417
00:23:26.119 --> 00:23:29.839
good question. What did you do your gift card. You

418
00:23:29.880 --> 00:23:33.440
went to home depot and you bought a toilet, a

419
00:23:34.839 --> 00:23:38.200
golden prone, so you buy it. You're walking out the

420
00:23:38.200 --> 00:23:40.000
door and some of it the door says, wait a second, sir,

421
00:23:40.119 --> 00:23:42.640
did you pay for that? And you have a receipt?

422
00:23:42.960 --> 00:23:45.359
Now think this through. It's gonna take a little second.

423
00:23:46.160 --> 00:23:48.640
The card came in the mail, you didn't apply for it.

424
00:23:49.200 --> 00:23:51.720
You went to home depot, you bought a five hundred

425
00:23:51.920 --> 00:23:56.200
to five hundred toilet. You didn't give Home Depot five

426
00:23:56.319 --> 00:24:00.279
hundred dollars. You walked out without paying for that. It

427
00:24:00.559 --> 00:24:03.960
have a receipt that is paid for it. Now you're

428
00:24:04.039 --> 00:24:09.119
gonna get you getting Now, who paid Home Depot.

429
00:24:09.160 --> 00:24:15.240
That night for the next day, Well, you would automatically say, well,

430
00:24:15.240 --> 00:24:16.759
the bank paid home depot.

431
00:24:17.079 --> 00:24:21.279
The bank. Why would home depot, let you walk out

432
00:24:21.400 --> 00:24:24.039
the toilet without paying for it, because they knew they

433
00:24:24.079 --> 00:24:26.160
were going to be paid that night the next day

434
00:24:26.400 --> 00:24:29.400
from the bank. Now where did the bank get the

435
00:24:29.440 --> 00:24:35.000
money from they're advertising budgets. It wasn't alone. It's their

436
00:24:35.160 --> 00:24:39.400
advertising budget to get you as a customer. Why don't

437
00:24:39.400 --> 00:24:42.279
they spend five hundred when they can spend a toaster

438
00:24:42.640 --> 00:24:44.519
or fifty to twenty five dollars to get you a

439
00:24:44.559 --> 00:24:47.359
SI customer? Right? You know, and if you can look

440
00:24:47.359 --> 00:24:49.799
this up yourself, I this two months ago. I said,

441
00:24:49.799 --> 00:24:52.359
what does the average person have to pay in bank

442
00:24:52.440 --> 00:24:54.400
fees for a credit card? And it comes up with

443
00:24:54.519 --> 00:24:58.920
twenty three dollars and four cents on average. My mom,

444
00:24:59.119 --> 00:25:01.359
who had a credit card for her old life, never

445
00:25:01.440 --> 00:25:03.839
paid a penny in and your fees, never paid a

446
00:25:03.880 --> 00:25:06.599
penny on interest, never paid a penny on anything, So

447
00:25:06.680 --> 00:25:09.359
she was a freebet the bank. You know, it cost

448
00:25:09.400 --> 00:25:11.880
them money for her. If your customers and about twelve

449
00:25:11.880 --> 00:25:14.920
percent are like my mom, the seventy eight percent of

450
00:25:15.000 --> 00:25:18.319
people pay and what do they pay on average? Twenty

451
00:25:18.319 --> 00:25:21.759
three dollars and four cents. So if a bank has

452
00:25:21.799 --> 00:25:27.000
a million cardholders, they're bringing in twenty three million dollars

453
00:25:27.160 --> 00:25:32.000
a month, okay, And what it is all about is

454
00:25:32.039 --> 00:25:35.759
taking that money in so that they can as a

455
00:25:35.839 --> 00:25:42.440
frog because that money is used to cover their It

456
00:25:42.480 --> 00:25:45.359
is getting a little twenty five years, but it's there.

457
00:25:45.880 --> 00:25:48.519
It's a free checking account. So they're charging you twenty

458
00:25:48.559 --> 00:25:50.559
three dollars and four cents a month for a free

459
00:25:50.640 --> 00:25:52.759
checking account. That's why they want to get you as

460
00:25:52.799 --> 00:25:56.119
a customer. So in about twenty two twenty three months,

461
00:25:56.200 --> 00:25:58.440
they're going to make back five hundred dollars and for

462
00:25:58.480 --> 00:26:01.359
the rest of your life you didn't need pain On

463
00:26:01.440 --> 00:26:03.920
average twenty three dollars, even if injuriates go up to

464
00:26:03.960 --> 00:26:08.440
fifty sixty seventy. I had talked about podcast guy last

465
00:26:08.440 --> 00:26:10.480
week and he said he saw one hundred and nine percent.

466
00:26:10.960 --> 00:26:14.400
One hundred and nine percent. How did you have this? Ridiculous?

467
00:26:15.319 --> 00:26:17.759
So once you get in and you think you've got

468
00:26:17.759 --> 00:26:19.720
a credit card debt, you've got to pay these speeds.

469
00:26:19.960 --> 00:26:22.559
That's where the bank is making all the money on fraud.

470
00:26:22.920 --> 00:26:25.799
So there never was a debt. There never was alone

471
00:26:26.000 --> 00:26:29.440
and you're paying twenty three dollars on a free check account.

472
00:26:30.240 --> 00:26:33.440
Wow, I you know the thing. This has just been

473
00:26:34.039 --> 00:26:39.559
like I've never really thought about credit cards in this way. Obviously,

474
00:26:39.720 --> 00:26:43.440
I feel like, you know, you need to legitimately pay

475
00:26:43.480 --> 00:26:46.240
for those things that you bought with a credit card.

476
00:26:48.359 --> 00:26:51.000
What I'm what I'm thinking is how does this how

477
00:26:51.599 --> 00:26:57.160
how does this knowledge apply to people who have have cards.

478
00:26:57.559 --> 00:27:01.480
Where I'm going with this is thinking, like, I build

479
00:27:01.519 --> 00:27:05.279
my business with credit cards, but I would use like

480
00:27:05.440 --> 00:27:10.240
the twelve months same as cash, and the cards that

481
00:27:10.319 --> 00:27:13.680
I have I've seen up to like twenty nine percent. Well,

482
00:27:14.079 --> 00:27:17.039
one of the reasons why there's so much credit card

483
00:27:17.039 --> 00:27:19.559
dead in the United States is because people get caught

484
00:27:19.640 --> 00:27:26.000
in overspending and then the banks are charging astronomical interest.

485
00:27:26.160 --> 00:27:31.880
And so how how can people best use this information?

486
00:27:32.400 --> 00:27:36.759
They're going to legitimately pay what they owe, But what

487
00:27:36.799 --> 00:27:39.200
do you feel is the best way for people.

488
00:27:38.960 --> 00:27:49.960
To Let's just get back to us happening here. So

489
00:27:50.680 --> 00:27:53.240
what you got is you got a toilet with some

490
00:27:53.480 --> 00:27:56.519
gift a gift card got you go to the home

491
00:27:56.559 --> 00:27:58.440
depot and at the end of the month you get

492
00:27:58.440 --> 00:28:01.200
a statement. I'm going to get a statement from home

493
00:28:01.279 --> 00:28:05.000
Depot saying that you do not as you have they

494
00:28:05.000 --> 00:28:08.400
have an outstanding unpaid invoice. Are you going to get

495
00:28:08.400 --> 00:28:10.880
a statement from home Depot at the end of the month.

496
00:28:12.319 --> 00:28:14.279
No, No, you're not going to guess.

497
00:28:16.559 --> 00:28:19.839
That's it. So are you going to have an outstanding

498
00:28:19.960 --> 00:28:22.200
unpaid invoice from home Depot?

499
00:28:24.200 --> 00:28:26.720
No, because home Depot probably got paid.

500
00:28:27.559 --> 00:28:30.160
They got paid and you walked up with received. You

501
00:28:30.240 --> 00:28:33.880
own the toilet. Okay, But you get a statement from

502
00:28:33.920 --> 00:28:37.480
the credit card company saying you have a bill. Now

503
00:28:37.559 --> 00:28:41.200
you've been wing to, indoctrined and brainwashed to think that

504
00:28:41.319 --> 00:28:43.759
this is a bill. Let me ask you a good question.

505
00:28:44.400 --> 00:28:46.680
When you have a normal checking account, you get a

506
00:28:46.680 --> 00:28:48.799
monthly statement, is that a bill?

507
00:28:53.319 --> 00:28:54.400
It seems like a bill.

508
00:28:56.720 --> 00:29:01.240
Your normal checking account, you get this they'ment every month.

509
00:29:01.440 --> 00:29:03.440
You get a statement. You don't get a bill. You

510
00:29:03.440 --> 00:29:04.240
get a statement.

511
00:29:04.839 --> 00:29:07.160
You get a statement because what's the statement said, here's

512
00:29:07.200 --> 00:29:10.279
your beginning balance, here's your deposits, here's your checks, you

513
00:29:10.359 --> 00:29:13.000
wrote your debit card, use other Fiji had taken out

514
00:29:13.079 --> 00:29:15.160
things like that, and you have an ending balance. It's

515
00:29:15.240 --> 00:29:19.880
not a bill, right. A statement is not a bill.

516
00:29:20.000 --> 00:29:21.920
A bill is a debt. A debt has to have

517
00:29:21.960 --> 00:29:24.960
an invoice that has the date, the product, the service,

518
00:29:25.240 --> 00:29:28.960
the taxes and shipping, all the terms and conditions are

519
00:29:29.039 --> 00:29:33.599
there on your contractual agreement with that invoice. So there

520
00:29:33.680 --> 00:29:36.640
is no invoice. But you are a good person. You've

521
00:29:36.599 --> 00:29:39.599
been like to in document brainwash. You write a five

522
00:29:39.680 --> 00:29:43.079
hundred dollars check out to the bank. Am I right.

523
00:29:44.599 --> 00:29:48.119
Right? You pay, you pay your card, you pay.

524
00:29:47.960 --> 00:29:50.759
It, you can pay it. See they got you. It's

525
00:29:51.240 --> 00:29:55.400
a gift card. They send you a gift card. You

526
00:29:55.599 --> 00:29:57.920
use the gift card to buy a toilet. Now they

527
00:29:58.000 --> 00:30:01.640
send you a statement making you think that you have

528
00:30:01.799 --> 00:30:04.000
to pay. So if you as a good person, you

529
00:30:04.039 --> 00:30:06.720
want a five hundred checkout. Now here's a good question.

530
00:30:07.480 --> 00:30:10.839
Is that the first time the bank has ever received

531
00:30:10.920 --> 00:30:11.680
money from you?

532
00:30:14.000 --> 00:30:16.720
It could be and mean, but maybe not, you know,

533
00:30:16.759 --> 00:30:18.279
maybe in different ways.

534
00:30:19.000 --> 00:30:21.359
Well just think it through. A card comes in the

535
00:30:21.400 --> 00:30:24.799
mail unsolicited, you go to home depot, you walk away

536
00:30:24.799 --> 00:30:27.079
a five hundar toilet, You get a statement at the

537
00:30:27.160 --> 00:30:28.920
end of the month. Thinking as a bill you write

538
00:30:28.920 --> 00:30:31.960
a five hundred checkout. Is that the first time the

539
00:30:32.000 --> 00:30:35.559
bank has ever seen your money?

540
00:30:36.000 --> 00:30:39.039
I'm not I would say I would yeah, I would

541
00:30:39.079 --> 00:30:41.559
say yeah, it's the first time, you know, if this

542
00:30:41.599 --> 00:30:44.319
is a new account, Yeah, it's the.

543
00:30:44.240 --> 00:30:46.240
First time you ever met this bank. Yeah, first time

544
00:30:46.240 --> 00:30:49.039
you send the money in. Banks are only about loans.

545
00:30:49.400 --> 00:30:51.559
So when you have no money and you go into

546
00:30:51.559 --> 00:30:54.039
a bank, you want to come out with money and

547
00:30:54.079 --> 00:30:57.279
ask called a loan. The same thing is when you

548
00:30:57.359 --> 00:31:01.079
make a so called deposit, and that the first link

549
00:31:01.440 --> 00:31:04.480
in the show notes is that banks do not accept

550
00:31:04.599 --> 00:31:09.759
the pauses. These are loans. You Banita are loaning the

551
00:31:09.799 --> 00:31:14.880
bank five hundred dollars. That went into your free checking account.

552
00:31:15.200 --> 00:31:17.839
Why is it free? They don't charge you. So this

553
00:31:17.960 --> 00:31:21.960
goes into a free checking account. Every purchase that you've

554
00:31:22.039 --> 00:31:26.680
made subsequent has been with your own money. This is

555
00:31:26.720 --> 00:31:30.079
a checking account. The bank has set this up as

556
00:31:30.079 --> 00:31:33.039
a fraud. They're making you think you have to pay.

557
00:31:33.680 --> 00:31:37.279
But you put five hundred dollars in great next month

558
00:31:37.599 --> 00:31:41.799
you buy a shower for four hundred dollars. Four hundred

559
00:31:41.799 --> 00:31:43.880
dollars is taken out of your account and you have

560
00:31:43.960 --> 00:31:47.480
one hundred dollars left. The next statement makes you think

561
00:31:47.559 --> 00:31:50.720
that you have to deposit four one hundred dollars. You don't.

562
00:31:50.759 --> 00:31:54.160
It's not a payment. This is your checking account. It

563
00:31:54.200 --> 00:31:55.799
shows one hundred dollars. If you want to leave a

564
00:31:55.839 --> 00:31:58.480
hundred dollars your checking account, leave it there, but the

565
00:31:58.519 --> 00:32:00.960
bank makes you think that you have to depart at

566
00:32:01.079 --> 00:32:03.200
four hundred dollars to bring it back up to the

567
00:32:03.279 --> 00:32:05.920
five hundred and if you don't think, I'm charging interest

568
00:32:06.279 --> 00:32:08.640
and that's where the twenty three dollars in four cents

569
00:32:08.720 --> 00:32:11.759
comes in. I average on every single person, right.

570
00:32:12.440 --> 00:32:14.240
I You know, I guess I'm going to say, but

571
00:32:14.319 --> 00:32:17.559
I got a statement that shows how much I owe.

572
00:32:17.880 --> 00:32:20.480
You know, I think I think when people hear you

573
00:32:20.640 --> 00:32:24.000
talking about checking accounts, is like, but but I have

574
00:32:24.079 --> 00:32:30.359
my checking account with the bank and I don't. I'm

575
00:32:30.519 --> 00:32:33.400
I'm I'm going, Okay, I know I need to pay

576
00:32:33.599 --> 00:32:38.240
what I legitimately owe. I'm thinking this only applies to

577
00:32:40.759 --> 00:32:43.799
Does it only apply to money that that I feel

578
00:32:43.839 --> 00:32:48.200
like was fraud that I had, you know, was unfortunately

579
00:32:48.359 --> 00:32:49.759
involved in some kind of fraud.

580
00:32:52.160 --> 00:32:55.960
Yeah. When you have a store that has an in

581
00:32:56.160 --> 00:32:59.640
store credit card and they have an out sending in

582
00:33:00.200 --> 00:33:04.039
is you are morally obliged to pay that the bank

583
00:33:04.720 --> 00:33:09.279
has lied to you, has through their promotion, sent you

584
00:33:09.519 --> 00:33:12.720
a gift card. They didn't say gift card, they said

585
00:33:12.759 --> 00:33:15.920
credit card. That's where a fraud comes into play. So

586
00:33:16.240 --> 00:33:18.440
you think you have a credit card. You really don't.

587
00:33:18.680 --> 00:33:22.200
You have a gift card. A gift card is a gift.

588
00:33:22.480 --> 00:33:25.279
You go to the store and you get it done.

589
00:33:26.119 --> 00:33:29.000
They got you, the customer, and just like the wall clock,

590
00:33:29.680 --> 00:33:32.680
just like the twenty five dollars, it's not immoral to

591
00:33:32.720 --> 00:33:36.559
close your account. When you put five hundred dollars into

592
00:33:36.680 --> 00:33:41.440
the bank, that's a loan. You loan the bank. Money

593
00:33:41.680 --> 00:33:44.079
banks are only set up for loans. They do not

594
00:33:44.240 --> 00:33:46.799
do goods and services. They don't do those kinds of

595
00:33:46.839 --> 00:33:49.079
things like a merchant doise. They don't put tires your card.

596
00:33:49.680 --> 00:33:52.359
They are in a loan business. So when you take

597
00:33:52.440 --> 00:33:55.160
money into the bank, it's a loan to them. So

598
00:33:55.200 --> 00:33:57.640
when you open a checking account or save as account,

599
00:33:57.640 --> 00:34:00.720
you're loaning the bank five hundred dollars in this case,

600
00:34:01.160 --> 00:34:03.519
and you trust they will take care of it, and

601
00:34:03.559 --> 00:34:06.640
when you spend it, they will pay who you want.

602
00:34:06.839 --> 00:34:08.800
And so the end of the month you have an

603
00:34:09.039 --> 00:34:13.400
ending balance. That is a true statement, and that is

604
00:34:13.480 --> 00:34:16.880
what happens. Banking is only about accounts, and it's only

605
00:34:16.920 --> 00:34:19.559
about savings and checking accounts and loans.

606
00:34:20.599 --> 00:34:25.599
I think the big thing with your approach is language

607
00:34:26.280 --> 00:34:28.760
and the way we talk about things. The way we

608
00:34:28.800 --> 00:34:31.199
think about things. I mean, I've known for a long

609
00:34:31.280 --> 00:34:38.440
time that like if I've seen, Oh, I had somebody

610
00:34:38.480 --> 00:34:42.679
that I was working with as a client once who had,

611
00:34:42.760 --> 00:34:46.440
like they had five hundred thousand dollars in their checking

612
00:34:46.440 --> 00:34:50.400
account at the bank because they were afraid to do

613
00:34:50.440 --> 00:34:53.639
anything with it. But I was like, don't you realize

614
00:34:53.679 --> 00:34:56.239
that that five hundred thousand dollars in the bank, the

615
00:34:56.280 --> 00:35:00.679
bank is using that to loan money to people for

616
00:35:00.960 --> 00:35:04.559
their line of credits and their car loans and everything

617
00:35:04.559 --> 00:35:08.840
else and making So yeah, So, I mean where I'm from,

618
00:35:09.000 --> 00:35:12.360
I'm I'm wrapping my head around advice saying, Okay, I

619
00:35:13.079 --> 00:35:18.239
know how banks operate in that the money that you

620
00:35:18.400 --> 00:35:22.000
have and like money market accounts in a bank, they're

621
00:35:22.039 --> 00:35:29.079
giving you what maybe one percent, and they're making you know,

622
00:35:29.280 --> 00:35:37.039
a multiple of that on their loans. So yeah, so

623
00:35:36.400 --> 00:35:39.519
so is there So what do you think what are

624
00:35:39.559 --> 00:35:44.920
their risks financial or legal of going and taking this

625
00:35:45.000 --> 00:35:45.840
approach to debt?

626
00:35:47.119 --> 00:35:53.079
Okay, Benita, you have been lied to and doctors and brainwashed. Okay,

627
00:35:53.199 --> 00:35:57.559
because you're telling me banks take people's deposes and loan

628
00:35:57.599 --> 00:36:00.360
amount to other people. Right, you look at us on

629
00:36:00.400 --> 00:36:03.000
the internet all kinds of websites are going to tell

630
00:36:03.039 --> 00:36:06.880
you the same thing, so they're reinforcing the big lot. Okay,

631
00:36:07.280 --> 00:36:10.320
but I in my first link to you is a

632
00:36:10.639 --> 00:36:14.599
legal website that explains that, first of all, the banks

633
00:36:14.639 --> 00:36:18.199
do not take deposits. These are loans to the bank.

634
00:36:18.800 --> 00:36:22.280
And two, they do not take people's deposits and loan

635
00:36:22.320 --> 00:36:26.239
them out to other people. In that second link is

636
00:36:26.360 --> 00:36:29.800
the Manual Modern Money Mechanics put out by the Federal Reserve,

637
00:36:29.920 --> 00:36:32.960
and in there, right before it says what they do

638
00:36:33.440 --> 00:36:36.800
above it, they make mockery. They make a joke. They say,

639
00:36:36.840 --> 00:36:40.159
it's obviously we don't take people's deposits and loan them

640
00:36:40.159 --> 00:36:42.480
out to other people because there wouldn't be enough money.

641
00:36:42.599 --> 00:36:46.119
There is not one point three one point seven trillion

642
00:36:46.159 --> 00:36:49.639
dollars a credit card debt. What that means is that

643
00:36:49.760 --> 00:36:54.079
banks want you to deposit one point seven trillion into

644
00:36:54.119 --> 00:36:57.559
your checking account. That's what they're asking, that's what they're saying,

645
00:36:57.599 --> 00:36:59.679
that's what they want you to do. And if you

646
00:36:59.760 --> 00:37:03.119
don't do that, a charging interest on your own money.

647
00:37:03.920 --> 00:37:06.880
So the checking account that you sent five hundred dollars

648
00:37:06.920 --> 00:37:09.280
to you, do you think you're paying for the toilet. No,

649
00:37:09.480 --> 00:37:11.920
the toy was a gift. It was trying to get

650
00:37:11.960 --> 00:37:14.440
you to be as a customer. Now you're a customer.

651
00:37:14.760 --> 00:37:17.599
Now you're spending money on them, on the interest and

652
00:37:17.679 --> 00:37:19.559
on fees and all that kind of stuff. And that's

653
00:37:19.599 --> 00:37:22.320
why they induced you to get you that gift card

654
00:37:22.599 --> 00:37:24.719
to get you to the customer. Now you know the

655
00:37:24.840 --> 00:37:28.880
language is a free checking account, it's your money. So

656
00:37:29.159 --> 00:37:32.760
how do you get yourself out of debt? It's not debt?

657
00:37:33.039 --> 00:37:36.679
How do you resolve this problem of say, okay, you

658
00:37:36.800 --> 00:37:39.719
have a checking account and all you need to do

659
00:37:39.840 --> 00:37:41.880
is write a letter to the bank ask them to

660
00:37:41.960 --> 00:37:45.519
close your free checking account associated with a card.

661
00:37:48.480 --> 00:37:51.119
And you still need to pay your debt. I mean

662
00:37:51.199 --> 00:37:53.239
you still need to pay the money that you've owed.

663
00:37:56.519 --> 00:38:00.719
You're still been lied to, inducted and brainwash. It takes

664
00:38:00.760 --> 00:38:02.599
for a while. You're still using the.

665
00:38:02.639 --> 00:38:06.639
Crew at risk here because its like this is yeah,

666
00:38:06.679 --> 00:38:15.039
so you can see this conversation with Tony is like, so, okay, well.

667
00:38:14.920 --> 00:38:17.360
First of all, you admitted that the bank did not

668
00:38:17.480 --> 00:38:19.840
put tires on your car. You've had admitted to me

669
00:38:20.039 --> 00:38:23.480
they do not have an outstanding unpaid invoice, so there

670
00:38:23.519 --> 00:38:27.559
is no debt. The only way they can issue a

671
00:38:27.679 --> 00:38:31.039
loan is they have to have a loan agreement, they

672
00:38:31.079 --> 00:38:33.679
have loan documents agreeable to be that. They have to

673
00:38:33.760 --> 00:38:37.079
prove their income. Have you proved your income to any

674
00:38:37.079 --> 00:38:40.840
credit card applications? There are people on the internet that

675
00:38:40.920 --> 00:38:43.280
tell you write any number because they don't verify. So

676
00:38:43.400 --> 00:38:45.679
put down two hundred thousand, even when you're making twenty,

677
00:38:45.719 --> 00:38:48.400
because you're more likely to get a higher card. It's

678
00:38:48.440 --> 00:38:51.119
all wives, it's all based on lives, so there is

679
00:38:51.159 --> 00:38:54.639
no collateral, there is no promisory note. It's a gift

680
00:38:54.960 --> 00:38:58.280
that the banks cannot give you a loan without a

681
00:38:58.400 --> 00:39:01.920
promisory note. And that to you said, as a bank owner,

682
00:39:02.039 --> 00:39:04.440
you're not going to let You're not gonna loan money,

683
00:39:04.599 --> 00:39:06.679
your money to people who can't pay that, and certainly

684
00:39:06.679 --> 00:39:08.760
not people who didn't promise to pay it back. But

685
00:39:08.920 --> 00:39:10.519
that's a gift, right.

686
00:39:11.199 --> 00:39:14.639
So if you close your account and you and there's

687
00:39:14.679 --> 00:39:17.000
some money that you you know you bought some goods

688
00:39:17.000 --> 00:39:22.119
and services. I mean, I know you've said before you

689
00:39:22.519 --> 00:39:30.480
legitimately pay whatever you bought on credit. But you're saying you, uh,

690
00:39:30.559 --> 00:39:34.000
there's there's good credit cards to have or not so

691
00:39:34.119 --> 00:39:36.760
good credit cards to have. The best credit cards, I

692
00:39:36.760 --> 00:39:38.800
think are the ones that are tied to some kind

693
00:39:38.800 --> 00:39:39.800
of merchant.

694
00:39:41.159 --> 00:39:44.119
Okay, a true credit card is not going to let

695
00:39:44.199 --> 00:39:46.079
you go to some other store. It's going to be

696
00:39:46.119 --> 00:39:48.360
that merchant. They might have a chain of something that

697
00:39:48.480 --> 00:39:50.639
make it convenient for it. But there's a if there's

698
00:39:50.639 --> 00:39:54.440
an outstanding unpaid voice, that is a debt you owe.

699
00:39:55.079 --> 00:39:57.920
What the banks are doing are getting you to front

700
00:39:58.000 --> 00:40:00.440
up the money. Just like you would go to a

701
00:40:00.559 --> 00:40:03.239
bank and open up a checking account, because say how

702
00:40:03.320 --> 00:40:06.880
much do you open today? And you say five hundred dollars. Great,

703
00:40:07.199 --> 00:40:09.639
let me see five hundred dollars. So you put five

704
00:40:09.679 --> 00:40:12.960
hundred dollars into the account and you buy things and

705
00:40:12.960 --> 00:40:16.920
it gets delayed this less and less. So at the

706
00:40:17.000 --> 00:40:19.280
end of the month you decide for your paycheck, you

707
00:40:19.360 --> 00:40:21.840
can put four hundred dollars back into it. Well, great,

708
00:40:21.880 --> 00:40:25.400
that's your choice. This whole credit card scam is the

709
00:40:25.519 --> 00:40:27.960
same thing I'm trying to get through to you is

710
00:40:28.000 --> 00:40:31.239
a checking account. You are sending money to the bank

711
00:40:31.440 --> 00:40:35.320
to fill up your checking account. Then you buy anything

712
00:40:35.360 --> 00:40:38.760
and everything with your own money. It's been your money

713
00:40:38.800 --> 00:40:41.639
You've been buying everything on because there's not enough money

714
00:40:41.679 --> 00:40:43.880
to load it out to people. They don't there's no loan.

715
00:40:44.719 --> 00:40:47.239
It's your money that you have been spending. That's why

716
00:40:47.280 --> 00:40:56.320
there's no promisory notes. So to go ahead, I was

717
00:40:56.360 --> 00:40:58.000
just going to say, if you send a letter to

718
00:40:58.039 --> 00:41:00.199
the bank, it's pretty weak. Now. Which you can do

719
00:41:00.360 --> 00:41:03.400
is have your CPA write a letter saying, first of all,

720
00:41:03.440 --> 00:41:07.079
there is no invoice and bank never loans you any money.

721
00:41:07.639 --> 00:41:11.000
And since there wasn't a promis ory note, there's no debt,

722
00:41:11.360 --> 00:41:13.159
have your attorney and then you go, oh man, it's

723
00:41:13.320 --> 00:41:14.840
two or three hundred dollars. You know there's any thing

724
00:41:14.920 --> 00:41:17.599
called legal shield, and you get for twenty nine dollars,

725
00:41:17.639 --> 00:41:19.360
you get an attorney for a month only means it

726
00:41:19.480 --> 00:41:21.559
for a month, and have the attorney write a letter

727
00:41:21.599 --> 00:41:26.760
to the bank saying fraud undoes all contracts. What I'm suggesting, also,

728
00:41:26.960 --> 00:41:30.119
what I've done is I have made them appear that

729
00:41:30.159 --> 00:41:32.360
I'm going to sue them in court. So I have

730
00:41:32.599 --> 00:41:36.760
a civil lawsuit all filed out that explains the crimes

731
00:41:36.840 --> 00:41:40.360
they're committing and also all the discovery. So they're going

732
00:41:40.360 --> 00:41:42.440
to look at a brick of this paperwork and I'm

733
00:41:42.440 --> 00:41:44.280
going to go. This is gonna cost twenty thousand dollars

734
00:41:44.320 --> 00:41:47.320
just in legal fees alone. But the important thing is

735
00:41:47.320 --> 00:41:50.199
is that we have an injunction. Now, Benita, if you

736
00:41:50.199 --> 00:41:53.000
have somebody bothering me, you can take them to court

737
00:41:53.159 --> 00:41:55.480
and say court, have them stop bothering me. I don't

738
00:41:55.519 --> 00:41:57.679
know these people. And that's exactly what's going on with

739
00:41:57.760 --> 00:42:00.199
all the Trump things, and people run to court and

740
00:42:00.239 --> 00:42:03.119
it stops Trump from access right because they're called injunctions.

741
00:42:03.559 --> 00:42:05.519
We're going to do the same thing. So the bank

742
00:42:05.679 --> 00:42:08.880
knows if they sue us or we sue them. Either way,

743
00:42:09.280 --> 00:42:12.440
there's going to be an injunction file immediately. So the

744
00:42:12.599 --> 00:42:14.719
judge is going to look to the bank and say, look,

745
00:42:14.760 --> 00:42:17.719
here's an injunction. Said, you're bothering these people claiming there's

746
00:42:17.719 --> 00:42:20.400
a debt. It's not a debt, so please bring us

747
00:42:20.480 --> 00:42:27.360
a unpaid, unpaid invoice, outstanding invoice, and bring a certified

748
00:42:27.440 --> 00:42:30.559
copy of the promissory note. And they are also are

749
00:42:30.599 --> 00:42:33.840
asking for an affadate of debt. They want someone in

750
00:42:33.920 --> 00:42:36.400
the bank to swear out that you have a debt

751
00:42:36.440 --> 00:42:38.800
and they have the evidence and bring us to court.

752
00:42:39.199 --> 00:42:41.920
And if the bank doesn't do that, the judge finds

753
00:42:41.960 --> 00:42:44.960
them in contempt and it all stops. So since the

754
00:42:45.000 --> 00:42:48.400
bank does not have an invoice, they have no promissary note,

755
00:42:48.400 --> 00:42:50.159
and no one in the bank is no to swear

756
00:42:50.280 --> 00:42:53.599
unviable under penalty of perjury with threat of going to

757
00:42:53.679 --> 00:42:56.559
jail or a fine if they're liars. So the bank

758
00:42:56.599 --> 00:43:00.000
cannot have their employees go to court and being encouraged them.

759
00:43:00.760 --> 00:43:03.239
So there is no debt. And that's the way you

760
00:43:03.280 --> 00:43:06.440
strongly let the bank know that you want to count closed.

761
00:43:06.639 --> 00:43:09.519
Is all that's going to happen is one click off

762
00:43:09.519 --> 00:43:12.159
through clerical It happened to me. It happened to about

763
00:43:12.199 --> 00:43:14.519
a thousand clients. I helped out my charity and I

764
00:43:14.559 --> 00:43:15.280
can help you too.

765
00:43:16.480 --> 00:43:21.599
So okay, so our time is just about up. Amazingly enough,

766
00:43:21.639 --> 00:43:25.000
it goes so fast. And so tell us a little

767
00:43:25.000 --> 00:43:27.840
bit about how you help people. If people feel that

768
00:43:27.920 --> 00:43:32.079
they want to contact you and get some help with

769
00:43:32.440 --> 00:43:36.559
this situation, how do you help people? What is it

770
00:43:36.599 --> 00:43:37.880
that you do in a nutshell?

771
00:43:38.719 --> 00:43:41.079
And it's in the show notes. So all you do

772
00:43:41.159 --> 00:43:44.559
is contact me Tommy Akirkpatrick on Facebook. You have the

773
00:43:44.639 --> 00:43:47.960
email there. I offer a free fifty minute consultation. If

774
00:43:47.960 --> 00:43:49.639
you do that, I'll give you my sixty n dollar

775
00:43:49.719 --> 00:43:52.480
book for free, Forget and Forget How to Nut your

776
00:43:52.480 --> 00:43:54.159
credit Card debt. So I'm trying to do is help

777
00:43:54.239 --> 00:43:57.800
you not get out of debt. It's the resolve your

778
00:43:57.920 --> 00:44:00.519
issues about your free checking account. So you've got to

779
00:44:00.519 --> 00:44:02.760
take the money out first before we close it. So

780
00:44:02.880 --> 00:44:06.159
usually I find thousands of dollars for people before. They

781
00:44:06.239 --> 00:44:09.280
don't even know they have money, so they there, they

782
00:44:09.400 --> 00:44:11.599
eliminate us off the credit card and they have money

783
00:44:11.599 --> 00:44:13.400
in our pocket. So that's what I do for people.

784
00:44:16.000 --> 00:44:19.199
Well, Tommy, this has been enlightening, to say the least.

785
00:44:19.760 --> 00:44:24.519
It has pushed me to rethink how I think about

786
00:44:24.559 --> 00:44:27.840
this whole issue with banks and everything else. And I'm

787
00:44:27.880 --> 00:44:32.480
hoping that we can help some people that would like

788
00:44:32.599 --> 00:44:36.719
to pursue this. That the things that he mentions will

789
00:44:36.719 --> 00:44:39.599
be in the bonus downloads on the Ask Good Questions

790
00:44:39.639 --> 00:44:45.280
podcast on that website. And so with that, Tommy, I'd

791
00:44:45.360 --> 00:44:49.119
like to thank you so much for coming today and

792
00:44:49.280 --> 00:44:53.559
for sharing with us, and thank you so much for

793
00:44:54.159 --> 00:44:57.719
everyone for joining the Ask Good Questions podcast.

794
00:44:58.880 --> 00:45:00.000
Thank you.

795
00:45:01.480 --> 00:45:04.800
Today's episode is over, but we did Ask Good Questions

796
00:45:04.840 --> 00:45:08.280
again didn't. We don't miss out as we broadcast live

797
00:45:08.559 --> 00:45:12.800
every Wednesday, six pm Eastern Time on W FOURCY Radio

798
00:45:13.000 --> 00:45:17.199
at w fourcy dot com. Joined Benita Bell Anderson next

799
00:45:17.199 --> 00:45:22.400
week for more conversations with experts on finances, retirement, behavioral

800
00:45:22.480 --> 00:45:27.400
finance issues, health and wellness, and more. Until then, remember

801
00:45:27.519 --> 00:45:33.199
to ask good questions.