Real meaning of "discharge of debt".

[7th trump]

You can pick out the people who have fallen hook, line and sinker when talking about money.
They say discharge of debt when using frn's.....................but do they really understand...........anything on the topic?
It just amazed me how many jump on the band wagon without ever actually researching the topic first hand.

Heres the definition to "discharge of debt".


DEFINITION of 'Debt Discharge'

The cancellation or forgiveness of a debt. Debt discharge results in taxable income to the debtor unless the forgiveness is a gift or bequest.

BREAKING DOWN 'Debt Discharge'

When a debt is discharged by an institution, the debtor will usually receive a Form 1099-C that shows the amount of debt forgiven. The debtor must then report this as miscellaneous income on the 1040.
So if a car sold for 12,000.00 and you paid 12,000.00 using frn's was that 12,000.00 paid off or according to the spooks on this board using the real definition was that 12,000.00 canceled or forgiven?
I've never received a 1099 after paying off a loan using frn's...has anybody else?

Heres another one.


A release of liability for certain unsecured debt obligations resulting from a bankruptcy court order or a creditor by agreement with a debtor. Court ordered discharges renders the debt as unenforceable against the debtor. Debts secured by collateral such as mortgages and auto loans are rarely discharged and are enforceable through liens against the property.

Read more: http://www.businessdictionary.com/definition/debt-discharge.html#ixzz3mObwsLaH

Hmmm...what the conspiracy nut cases say on this forum is something totally not inline with the real meaning.
Apparently these same conspiracy nut cases say there still a debt after the last payment has been made....but they can never seem to locate that supposed existing debt....but they'll continue to bewilder and bedazzle you on believing them.....sounds jewish to me to try and continue to CONvince you.

[midnight rambler]

If one is not using the definition of discharge as defined by the Uniform Commercial Code then one is pulling shit out of their ass, seeing as the entire system is running per the UCC.

And don't EVER rely on some knucklehead on the internet who's never researched the UCC 'cause it takes a LOT of arduous study to even begin to wrap one's head around the UCC (considering it's written pretty much entirely in that foreign language 'legalese').

[midnight rambler]

Here's the pertinent cite in the UCC regarding discharge and 'payment'. Note that in legalese 'payment' does NOT equate to 'pay a debt' per the Constitution just as in the UCC there is NO mention of the term 'contract' ONLY '(commercial) agreements' because under the common law for a 'contract' to be valid there MUST be lawful consideration, that is gold or silver coin.

https://www.law.cornell.edu/ucc/3/part_6

[7th trump]

Here's the pertinent cite in the UCC regarding discharge and 'payment'. Note that in legalese 'payment' does NOT equate to 'pay a debt' per the Constitution just as in the UCC there is NO mention of the term 'contract' ONLY '(commercial) agreements' because under the common law for a 'contract' to be valid there MUST be lawful consideration, that is gold or silver coin.

https://www.law.cornell.edu/ucc/3/part_6

Nope...wrong again fool.
'Nothing in the UCC that comes remotely close to saying of gold and silver coin.....just says money....doesnt even say lawful money for the conspiracy nut cases.

You really should take the conspiracy googles off and read the statutes for what they say and stop believing in whats not there.
Seriously...you're making a fool of yourself.

And the definitions I gave fit like a glove with the UCC.......so sorry try again!

[palani]

Heres the definition to "discharge of debt".

.
So if a car sold for 12,000.00 and you paid 12,000.00 using frn's was that 12,000.00 paid off or according to the spooks on this board using the real definition was that 12,000.00 canceled or forgiven?
I've never received a 1099 after paying off a loan using frn's...has anybody else?

You are so far out in left field you aren't even in the ballpark.

The key concepts in your definition are CANCELLATION or FORGIVENESS rather than PURCHASES. You cannot repay your home mortgage so your bank stops seeking repayment. Maybe the bottom dropped out of the housing market and they just want gone from the transaction. So they FORGIVE 100,000 bux in home mortgage. That figures gets turned in and you get to pay tax on it because that turns into INCOME for you.

Get a life because your concepts in law are going to get you in trouble sooner than later.

[Twisted Titan]

7th Heaven vs The Rambler vs The Infamous Master P

Call ticketmaster to get your ringside seats now!!!!!

But you cant attend the event unless you have made a offer to contract and have it listed in the local paper of venue sent via regestered receipet and seat must be paid in hard curency not Federal reserve notes or you will be cast into The Lake of Fire.

[7th trump]

7th Heaven vs The Rambler vs The Infamous Master P

Call ticketmaster to get your ringside seats now!!!!!

But you cabt attend the event unless you have made a offer to contract and have it listed in the local paper of venue sent via regestered receipet and seat must be paid in hard curency not Federal reserve notes or you will be cast into The Lake of Fire.

Hahahahaha..................thats awesome twisty.

[7th trump]

You are so far out in left field you aren't even in the ballpark.

The key concepts in your definition are CANCELLATION or FORGIVENESS rather than PURCHASES. You cannot repay your home mortgage so your bank stops seeking repayment. Maybe the bottom dropped out of the housing market and they just want gone from the transaction. So they FORGIVE 100,000 bux in home mortgage. That figures gets turned in and you get to pay tax on it because that turns into INCOME for you.

Get a life because your concepts in law are going to get you in trouble sooner than later.

Ummmmmm.....you use the term "discharge of debt" for using frn's as opposed to using gold and silver coins which by your opinion is actually ownership.
The legal definition says something totally different and I'm going with that definition because you havent yet proven a mortgage still exist after making the last payment using frn's because you say you cant pay off debt using debt.
Ramble butt says the UCC says something about gold and silver coin but theres nothing in that UCC statute or link he provided that says anything of the like...so hes made himself into a goof ball fool for believing in something that doesnt exist.....kind of like you....well actually just like you.
mow you are attempting to be creditable by saying the exact thing I already said in a previous post....little late showing up now...I've beat you to it but you need to prove a debt exist after being paid by debt frn's...you've failed so far palani.

[palani]

you need to prove a debt exist after being paid by debt frn's

I don't need to prove anything. Any evidence that will be used to convict you will be provided by you.

[7th trump]

I don't need to prove anything. Any evidence that will be used to convict you will be provided by you.

Then your claim that you cannot pay off a debt with a debt is completely false and a lie.
You made a claim which you cannot prove......so you can pay off a debt with a debt.
After all silence is acquiescence is it not?

Thanks for playing Palani......you can go back to your corner and resume picking your nose and eating your hotdog.

[palani]

Then your claim that you cannot pay off a debt with a debt is completely false and a lie.

Any claim I might make applies only to me. I don't know anything about you. I can tell you though that a gambler gambles to lose. The field is full of losers and using a FRN just makes you another loser in the process of losing.

[7th trump]

Any claim I might make applies only to me. I don't know anything about you. I can tell you though that a gambler gambles to lose. The field is full of losers and using a FRN just makes you another loser in the process of losing.

Really now?
Tell that to Trump how poor and what a loser he is while he's enjoying lobster and T-bone dinners.......and you're eating hotdogs and bologna samiches living in a van down by the river........lmao!

You forget grasshopper the US went bankrupt three times before the federal government decided to suspend the gold standard....think about that grasshopper before showing everyone again your true intelligence.
It really doesn't matter what the money is. Be glad you live in a time when dollars are just paper and plentiful and not gold and silver because there is not enough of that to go around for everyone. Enjoy the paper and use it to your advantage before the opportunity is long gone because your opportunity to shine using gold and silver its coming and its not going to be a walk down a prime rose path as you think its going to be. Life is going to get very serious over night and I don't think your intelligent or ready enough to fully understand the ramifications. Live for everyone is going to get very serious...the true colors of a spoiled society with pocketed muslim strong arm take over and a communist plan for a collapsed US is about to show itself.
You're old and weak Palani......and with an attitude like yours you are most likely going to be the first to go.

[palani]

Be glad you live in a time when dollars are just paper and plentiful and not gold and silver because there is not enough of that to go around for everyone.
There has never been a need for plentiful gold or silver. Symbolic amounts are quite adequate. Only the greedy are never satisfied.

[7th trump]

There has never been a need for plentiful gold or silver. Symbolic amounts are quite adequate. Only the greedy are never satisfied.

Symbolic amounts huh?
You just described gold backed paper.......so you're back to square one with your circle jerk mental masturbation.

You're a nonsensical hoot palani.

[palani]

You just described gold backed paper
Not really for if that were so the entire transaction would be based upon gold and/or silver rather than a mere token amount.

No ... one dollar is all that is needed when accompanied by either love and affection (for a relative) or other valuable considerations (for strangers). When I do this the transaction is complete when the one dollar changes hands. The love and affection or ovc might or might not happen over time ... quién sabe?

[palani]

When you do something by form you do only what is necessary and don't add or subtract anything. When the form is done then so is the transaction.

For example ... to take the King's shilling

https://en.wikipedia.org/wiki/King's_shilling

This is why pewter tankards had glass bottoms ... press gangs would deliver the shilling in the bottom of a glass of ale.

http://www.amazon.com/Kings-Shilling-Tankard-Double-Pewter/dp/B005SVUDXU

Observing and emulating the behavior of kings is generally good unless you prefer to emulate the actions of slaves.