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A Fond Farewell From Massive


Massive
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I have elected to concentrate on helping alleged debtors here in Parts Unknown. I appreciate each of you who have sparred with me from time to time and I have a great appreciation for alleged debtors who have been assisted by "The Massive School of Debt Collection Defense!" GODspeed to each of you and take care of yourselves one and all!!!!!!!!!!!!!!!!!!!!

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Thank you for advise back in August that helped me effectively answer a complaint by a JDB in which I just recently won my case. However, don't leave just because a few people asked specifics about your new "conspiracy theory" style defenses. There is no reason to take personal offense when contributors to this board are interested in specifically how these defenses have prevailed in court rather than statements that go something like this:

"plaintiffs fold like a cheap suit when you throw securitization at them!"

People asking a few legitimate questions is no reason for a big man like Massive to take his ball and go home.

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I have elected to concentrate on helping alleged debtors here in Parts Unknown. I appreciate each of you who have sparred with me from time to time and I have a great appreciation for alleged debtors who have been assisted by "The Massive School of Debt Collection Defense!" GODspeed to each of you and take care of yourselves one and all!!!!!!!!!!!!!!!!!!!!

Ahh yes, Massive flying away on his unicorn to the land of make believe with his satchel of securitization defenses slung over his shoulder.

Fare thee well massive.....fare thee well.

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Thank you for advise back in August that helped me effectively answer a complaint by a JDB in which I just recently won my case. However, don't leave just because a few people asked specifics about your new "conspiracy theory" style defenses. There is no reason to take personal offense when contributors to this board are interested in specifically how these defenses have prevailed in court rather than statements that go something like this:

"plaintiffs fold like a cheap suit when you throw securitization at them!"

People asking a few legitimate questions is no reason for a big man like Massive to take his ball and go home.

Securitization is big!! It's the only game in town. When Eleanor Schiano found out she had been scammed MBNA would not let her in their building, so don't tell me it's some conspiracy theory. Some things are too big to let get out to the general public and this is an affirmative defense that "works" quite well. I'm not sure what other explanation you need. Every time I have inserted it the Plaintiff has retreated. The Plaintiff "goes hence with naught" to coin a phrase. Allege it and make them prove otherwise.

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Massive, I for one do not want to see you go!!! :cry:

I greatly respect your knowledge and I need your input to apply to my present issues with Chase & Wells Fargo, and also my upcoming issues with Citi & Discover.

I am intrigued by the securitization concept and plan to use it!

This "new" subject is contriversial just as arbitration was when trueq, mg05, and the other pioneers started discussing it.

Please hang around to help the ones that want/need your help!

Much thanks to you!!!: everybodyclap:

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I agree with Mimi. When some of us question you, it's not because we don't believe you. It's because we don't understand the subject as well as you.

Look at it this way: If, on occasion, we must educate judges about basic debt collection violations and bogus affidavits, what do you think will happen when judges hear about Master Trusts and Securitization? The defendant will have to understand the issue backward and forward, inside and out, in order to convince a judge that the defense is legitimate.

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It's because we don't understand the subject as well as you.
Absolutely.

And, with that in mind, I went to www.sec.gov and searched on securitization...I could find nothing that implied that a CC company gave up the right to sue because they let investors buy into their investment. Can you point us to chapter and verse where it says the CC company no longer "owns" the debt?

I also used the google to see what else I could find. It appears that companies can sell an interest in their investments for operating capital without giving up control of those investments. What exactly are the CC companies doing?

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I have seen at least one sec filing from discover that states they give up their rights to collect and sue on the accounts that are transferred. They must transfer the account back to before suit. Also there are documents that state how the accounts are designated in their system.

Unfortunately, I cannot locate these same docs. And I don't know about the other banks info.

Massive, if you have details, please share them by PM. I'm with you on this but I need a lot of help.

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Absolutely.

And, with that in mind, I went to www.sec.gov and searched on securitization...I could find nothing that implied that a CC company gave up the right to sue because they let investors buy into their investment. Can you point us to chapter and verse where it says the CC company no longer "owns" the debt?

I also used the google to see what else I could find. It appears that companies can sell an interest in their investments for operating capital without giving up control of those investments. What exactly are the CC companies doing?

Check PM at your convenience.

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Okay...here's where the shinola hits the shoe...

http://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html

in particular,

In a credit card securitization transaction only the receivables are sold, not the accounts that generate the receivables. The financial institution retains legal ownership of the credit card accounts and can continue to change the terms on the accounts.

...and, I would assume, can continue to sue on their own behalf as OWNERS of the account.

Now...lawyers are only slightly more familiar with ALL facets of the legal system than we are, and they do run "cost / benefit" analyses on each case they take to court. Its possible that "securitization" may get confused with the mortgage reselling debacle and therfore the opposing lawyer gets scared off...but...I don't think the FDIC explanation translates into "the CC company is a JDB and has no standing in this suit". JMHO.

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Okay...here's where the shinola hits the shoe...

http://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html

in particular,

...and, I would assume, can continue to sue on their own behalf as OWNERS of the account.

Now...lawyers are only slightly more familiar with ALL facets of the legal system than we are, and they do run "cost / benefit" analyses on each case they take to court. Its possible that "securitization" may get confused with the mortgage reselling debacle and therfore the opposing lawyer gets scared off...but...I don't think the FDIC explanation translates into "the CC company is a JDB and has no standing in this suit". JMHO.

Yeah, Lawyers know what they are doing, that's why my buddy was sued twice and Citibank ran away twice!! Believe what you will, but after charge off the original creditor is toast!!!!!!!!!!!!!!!!!! lol!!!!!!!!!!!!!!!!!!!!!!!

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Yeah, Lawyers know what they are doing, that's why my buddy was sued twice and Citibank ran away twice!! Believe what you will, but after charge off the original creditor is toast!!!!!!!!!!!!!!!!!! lol!!!!!!!!!!!!!!!!!!!!!!!

I for one agree with you on this. Student loans were done the same way. The banks are being paid twice. Once when they securitize the debt and twice when poor schmucks like us pay the bills. Start digging into the bank's 10K filings and look at their securitization trust accounts. You will find out just how much securitization has been done.

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