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Ucc 3 Laws Explained
Summary
The sale of credit card debt does not automatically discharge your obligation under UCC 3-301. The holder of the debt can enforce it. 12 CFR 220 pertains to margin requirements for brokers and dealers, not consumer debt. If you believe there are illegal practices involved, consulting an attorney in New Jersey is advisable.Full Conversation
Looking to get help with UCC * laws and credit card discharge due to illegal practices by credit card companies
Hi ****,
To assist you better, can you please specify what illegal practices by the credit card companies you are referring to? This will help in providing more precise information regarding UCC Article * and potential credit card discharge options in New Jersey.
Thank you!
To assist you better, can you please specify what illegal practices by the credit card companies you are referring to? This will help in providing more precise information regarding UCC Article * and potential credit card discharge options in New Jersey.
Thank you!
Their selling of the original instrument
Hi ****,
To provide you with the most relevant information, could you please clarify if the credit card company sold your original debt to another entity, and if so, how this has affected you?
Looking forward to your response to assist you better.
To provide you with the most relevant information, could you please clarify if the credit card company sold your original debt to another entity, and if so, how this has affected you?
Looking forward to your response to assist you better.
If any credit card company sells your original instrument, you are no longer liable for the debt
Hi ****,
Thank you for providing the details. In New Jersey, the sale of debt by credit card companies is a common practice. However, under the Uniform Commercial Code (UCC), specifically UCC *-*, the holder of the instrument may enforce it. Here are some key points:
- **UCC *-***: The person entitled to enforce the instrument includes the holder of the instrument.
- **Debt Sale**: Selling the debt does not automatically discharge your obligation to repay it.
- **Fair Debt Collection Practices Act (FDCPA)**: Ensure that any debt collection practices are compliant with federal and state laws.
If you believe the sale of your debt involved illegal practices, you may want to consult with an attorney. Would you like more information on how to find legal assistance in New Jersey?
Thank you for providing the details. In New Jersey, the sale of debt by credit card companies is a common practice. However, under the Uniform Commercial Code (UCC), specifically UCC *-*, the holder of the instrument may enforce it. Here are some key points:
- **UCC *-***: The person entitled to enforce the instrument includes the holder of the instrument.
- **Debt Sale**: Selling the debt does not automatically discharge your obligation to repay it.
- **Fair Debt Collection Practices Act (FDCPA)**: Ensure that any debt collection practices are compliant with federal and state laws.
If you believe the sale of your debt involved illegal practices, you may want to consult with an attorney. Would you like more information on how to find legal assistance in New Jersey?
Also if I sent them any negotiable instruemnts or payment coupons, they would have to start a special memorandum account in my name under * cfr *, and i would be owed equity.
Hi ****,
Regarding * CFR *, it's important to note that this regulation pertains to margin requirements for brokers and dealers, not to the handling of consumer debt or negotiable instruments issued by individuals.
- *** CFR ***: Regulates credit by brokers and dealers, not consumer debt repayment.
- **Negotiable Instruments**: Issuing such instruments does not mandate a special memorandum account for credit card debts.
If you need further clarification or wish to explore legal options, consulting an attorney may be beneficial. Would you like more information on finding legal assistance in New Jersey?
Regarding * CFR *, it's important to note that this regulation pertains to margin requirements for brokers and dealers, not to the handling of consumer debt or negotiable instruments issued by individuals.
- *** CFR ***: Regulates credit by brokers and dealers, not consumer debt repayment.
- **Negotiable Instruments**: Issuing such instruments does not mandate a special memorandum account for credit card debts.
If you need further clarification or wish to explore legal options, consulting an attorney may be beneficial. Would you like more information on finding legal assistance in New Jersey?
This is by a long shot the shittiest chat app ive ever used
Hi ****,
I apologize for any frustration you've experienced. Let's focus on your concerns. To clarify your situation:
- Are you currently facing any debt collection actions or lawsuits from the credit card company?
This will help provide more accurate information.
I apologize for any frustration you've experienced. Let's focus on your concerns. To clarify your situation:
- Are you currently facing any debt collection actions or lawsuits from the credit card company?
This will help provide more accurate information.
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