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Can someone please advise me on the following:

I have stumbled upon some info recently that is supposed to settle my credit card debt without me actually paying it out, and supposedly it's legal???

In short the way it works is that the credit card application is a contract and thus when you sign your name you sign a contract. Ok...that is obvious. But what the bank that lends you the money neglects to mention is that the money they lend are created in your name by the bank and the bank is not risking a penny nor lending you their own money. They use your signature to create money in your name and then lend it to you. Thus they are not lending their own money and because of that their side of the contract is not being fulfilled. Hence, the contract is not valid and you don't have to repay them. Is this real or just another scam?

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