What if I told you that the contract you signed for that loan might be legally void because the lender never actually gave you anything of value? In this video, I'm going to break down the legal concept of considerations, how banks violate it in most loan agreements, and how you may able to resend the contract if no real value was exchanged. Now, I've studied contract law, lending practices, and consumer protection codes, and I'm here to show you how to challenge the validity of your loan using the law that they hope you never read. Now, before we dive into this, this is not legal advice. Even though we're going to be talking about the codes and the laws and things in that nature, this is only for educational purposes only. Okay? This is for the person who will literally get a notebook and a notepad, write the different codes and the different language that I'm speaking will actually look it up. Okay, now if you're brand new to the video, thank you for watching this video. Remember to hit the like button. When you hit the like button, that helps videos like this hit and reach the algorithm. Okay, my previous video couple videos ago had a lot of success. Go tap into that video. But let's go ahead and get this video out there because the conversation today is helping you to be able to argue consideration. Okay? We talk about things like the finance charge. We talk about things like the truth and lending act. We talk about rescending a loan. But no one ever tells you what the argument is about. They just tell you the information and they don't tell you how to go about the argument. So today we're going to be talking about how to be able to argue when there is a lack of consideration when there is no real value exchanged and what type of laws and codes are going to be able to back up that argument. Now some of the things and the key things we're going to be talking about is what is consideration in contract law. I'm going to help you understand the aspect of contract law and how consideration ties into contract law and how important that is. I'm also going to talk about what the bank actually gives you in exchange for the value of your signature. We're going to talking about why this may make your contract voidable. We're going to be diving into a lot of things and the goal for today is put you in a position to learn how to lawfully resend an agreement, resend a loan, resend a contract. So, make sure you stay all the way to the end because we're going to be getting into some some deep information and only the real people in the people with the a a good attention span are going to be able to get the true knowledge of this game. You can't skip around. Make sure you watch this entire video to its entirety. All right, now let's go ahead and dive in. All right, first things first. I want to talk about what consideration actually is in contract law. Okay. Consideration refers to something of value that is exchanged between parties when entering a contract. Okay. It is a crucial element that ensures a contract's legally enforcable. Meaning it's not a promise but a bargain for exchange. Okay. This something of value can be a promise, an action or forbearance refraining from an action or pro property. So long story short, consideration equals something exchanged between two parties. Value that is exchanged. You understand me? So if there is no consideration, then there is no contract. All right? There's no valid contract if there is no value being exchanged. Okay? And the value that we exchange is our signature because our signature gives banks the opportunity to participate in commerce and even loan the money. You mean even get the money without a signature they can't make money. Okay. So the bank must provide lawful value to bind you to repayment. Okay. So what is that lawful value? The lawful value has to be something that's actually valuable. The money that you ask for. All right. So when you look at the restatement second of contract section 71, it says that to constitute consideration, a performance or return promise must be bargained for. You dig me? A performance or return promise is bargained for if it is sought by the promisur in exchange for his promise and is given by the promise in exchange for that promise. The performance may consist of an act other than a promise, a forbearance or the creation, modification or destruction of legal relation. The performance of return promise may be given to the promiser or some other person. It may be given by the promisey by some other person. So the word consideration has often been used with meanings different from that given here. It is often used merely to express the legal conclusion that a promise is enforcable. All right. So a contract is only enforceable if each party gives something of value. So the question is when you are actually looking at your loan agreement, you are asking for a loan. That's what you signed for. You signed for real money. But the thing is is if they never put up real money, then they never completed the deal. They never actually gave you what you signed for. And that's where the consideration comes into play. That's when something becomes fraudulent. Because when you asked or you signed for something and you didn't get what you signed for, that is not awful consideration. The consideration would have been the real money. Okay. So, let's just talk about what the bank actually gives you. The bank gives you a or when you sign a promisary note, the note becomes a negotiable instrument. Okay. So, so when you look at a negotiable instrument, okay, you can go to UCCC 3-104. It breaks down a negotiable instrument means an unconditional promise or order to pay a fixed amount of money. Okay, so one of the things I want to highlight is the fact that I asked the simple question to Google, hey, hey, is a negotiable instrument a financial asset? Yes, a negotiable instrument is considered a financial asset. Okay. So this is this transferability makes it an asset that can be readily exchanged or used as collateral. Okay. So what truly happens okay when you give them that negotiable instrument that becomes a financial asset to the bank money something worth value and the bank monetizes your signature and books the loan as an asset. All right? So if you gave them an asset and they didn't loan you existing capital, but instead they created credit from your promise, they created credit from your negotiable instrument. All right? Now, they only can create credit unless you give them a negotiable instrument. Okay? So when you look at modern money mechanics, modern money mechanics explains that banks create money out of thin air upon receiving your notes. So if they make money out of thin air, the reality is there is no money that they loaned you. They was able to create it out of thin air literally because you gave them a promise. You know what I mean? So you think they funded you, but in reality you funded them. You funded them. So a lot of people ask the question or you know we're talking about this trust and we're talking about different uh um you know questions. Should I use this or should I use a negotiable instrument? Should I do this that and the third? How can I discharge debt with this form and that form? You know what I mean? This note, this coupon, you mean this bill of exchange? And the reality is the debt is already been funded. They've already made their money. Those documents is you just recording a certificate of indebtness. But what if that was already recorded? What if you already funded them and all you had to do was be able to communicate and and and and and talk about that contract that you very much funded them and be able to shift the burden of proof and have them prove that they didn't actually fund you any money or the fact that you funded them and they shouldn't be coming after you for a payment. It's not that you have to convince them that you funded them. It's literally you shifting the burden of proof and have them prove that they funded you. All right. Now, why this may make the contract voidable? Because if the bank didn't give lawful consideration, the agreement can be challenged. If the bank never gave you true value and if the note itself is what funded the transactions and it didn't come from the bank reserves, then the bank actually didn't give you what they said they was going to give you. They never gave you a loan that you applied for. You applied for a loan from the bank and the bank decided to create credit out of your promisary notes. So long story short, if they only could do it, then you funded the transaction. So this violates contract law in the Truth and Lending Act disclosure requirements because under the under 15 USC6005, it breaks down the determination of a finance charge. Okay, so it says the amount of the finance charge in connection with a consumer credit transaction shall be determined as the sum of all charges. You mean so one of the things of the this is a part of the disclosure. They should tell you exactly what the finance charge means. Okay? Or they shouldn't manipulate your finance charge or make you think that the finance charge is not the sum of all charges. Okay? So this is one of the clo the this when people say okay bet well you know you got to check to see if the finance charge is x y and z and if you pay that just the just the aspect of the value of the finance charge should be disclosed to you okay so if it's the sum of all charges why am I paying interest on a $30,000 loan if I look at the finance charge and the finance charge says about 2 grand 3 grand 4 grand why is the finance charge different from the loan amount okay we're going to come back to Okay. And then we talk about the aspect of 15 USC 1635. 15 USC 1635 talks about your right of recision. Pretty much breaks down um how right of recision works. This is a disclosure that should be disclosed to you. It also talks about the aspect of um obligor have shall have the right to resend a transaction until the midnight of third business day and you should receive a notice. And it also says that the creditor shall clearly and conspicuously disclose in accordance with the regulation of the bureau to any obligation in a transaction subject to the section of the rights under this section. So long story short, they should provide notice that you can cancel or resend your loan. Think about it. Have you ever gotten a letter or have you ever gotten a document that says that you can cancel this loan within 3 days? No, you haven't. Okay. also talks about if you exercise this then within 20 days of at the receipt of the notice of of the recision the creditor shall return the obligor any money or property given as earnest money it's no dispute okay they're supposed to return the money that they said that they owned you that they said that they loaned you okay or that you funded you mean so and they can't do this all right so it also breaks down um aspects of if you know to that this can extend past 3 years if there is some type of fraud or or you know if this notice wasn't given to you within the first uh you know within the consummation of the transaction meaning when you actually signed the loan and the money was released they should have given you this notice okay then we can talk about uh UCCC 3- under UCCC 3-305 defenses and claims against recruitment Long story short, if they violate laws like 15 with C16005, if they violate things like the disclosures, the disclosure procedures under 15635, then you can defend against an enforcement of that instrument. Okay, that includes a lack of consideration or any type of fraud. So, long story short, they use their energy to generate the loan and then charge you interest on it. Okay, so here's how to lawfully resend an agreement. Okay, but before we talk about that, make sure to hit the subscribe button. Make sure to like the video, okay? Turn on the post notifications because we really are about to give some game that nobody gives. Okay, but before we talk about that, I want to break down the finance charge a little bit more and kind of help you understand how this is going to apply to your argument. So when determining the finance charge, here's what the law says. Under the Truth and Lending Act, this section defines the finance charge as the total cost of consumer credit expressed as a dollar amount. So this includes interest charges, loan fees, service charges, points, credit report fees, and loan origination fees. Okay? Basically, it's the full amount you're being charged for the privilege of borrowing. You dig me? Now, here's why this matters as it pertains to the argument. Number one, the transparency is legally required. Okay. The law mandates that the lenders must clearly disclose the amount finance, the finance charge, the annual percentage rate, and the total of payments in the payment schedule. Failure to disclose any of these equal the truth to lending violation. It gives the borrower the right to resend the agreement under 15 USC 1635. Because if you're not receiving those disclosures, then you can resend the loan. Okay. And number two, and if no lawful consideration was given, the finance charge is deceptive because in your case, you are arguing that the lender didn't loan you any real money. Okay. Instead, they monetized your promisary note to generate funds. So, they monetize your signature. And if that's true, then you were the true source of credit. Okay? And the finance charge is fraudulent because they charge you interest on fees on money you unknowingly created. Okay? So fraudulent disclosures equal grounds for recision or legal challenge. So if the lender did not disclose the true nature of how the credit was created, failed to show you that they risked their own capital, or misrepresented the transaction as a loan when it was really an exchange of paper promises, then the entire contract can be challenged as voidable due to the lack of full disclosure under the truth and lending act and contract law. So, here's how to use this in your process. In your affidavit of truth or notice of recision, you want to state that pursuant to 15C6005, no lawful finance charge can exist where no actual funds were lend disclosure was never made. And number two, you want to demand that the lender provides evidence of lawful consideration and actual risk of capital, not merely accounting entries based off your signed note. So long story short, under 156005, it proves that any charges related to credit must be fully disclosed and based on actual value exchange. So you cannot be charged for money you never got. Okay? And if the bank never gave you lawful consideration and only used your signature to create money, then the finance charge is unlawful. Number two, the contract is deceptive and you have grounds to rescend or dispute the entire transaction. So, here's the aspect that that I want you guys to uh uh that I want to break down so that you can um know exactly how to be able to uh uh fight back against this and how to resend the agreement properly. Okay? So, make sure you got your notebook and notepad. You mean we're going to get tech with the edits later on in in in in the YouTube career. Um if I decide to do that, I'm going to end up pushing out these videos out at a slower rate. So, if you guys want me to break down and edit my content, then we'll limit how many times I post on a weekly basis. Um, but take out your notebook and notepad, write down these key concepts, and you can look them up yourself so we can keep the ball moving. So, number one, you want to draft a notice of recision citing the lack of lawful consideration. Okay. Now, this typically, you know, when you look at 15635, it's going to break down the aspect of mortgage transactions and things of that nature. So, yes, it's going to work more uh uh effectively as it pertains to mortgage transactions depending on how you're communicating with them. But if you argue that they didn't give you the disclosures, it doesn't matter what consumer credit transaction it is. Okay? You want to also include your affidavit of truth declaring the facts under penalty of perjury. So, you want to declare some of the facts that you know and your truths as it pertains to this very contract and what makes it unvoidable because if it doesn't get responded to point for point unrebuted, then there is that everything that we talked about stands in truth. So, that's the purpose of an affidavit of truth. You laying out those facts. Then you want to send this certified mail. You want to make sure that you do it certified so that it can be tracked. And if you want to enhance it, sending it registered and getting getting it notorized if you get ignored because a lot of us will say, "Well, what if they ignore me or they have ignored me? I sent this letter." You know, many people say that they've sent this letter and this that and the third, but they never challenge them on their fault. So, you want to send a notice of fault and an opportunity to cure. If you reach out to a company and they ignore you knowingly and willingly, then you have to let them know of their fault. Hey, you ignore me. So this is my second chance and giving you an opportunity to decure your fault of ignoring me or will you stay in violation. That's the whole premise of that. And then number five, you want to follow up with a notice of default and dishonor if there is no rebuttal. So to make that makes sense, when you have them default, you're pretty much saying, "Hey, look, since you guys haven't responded, since you guys um haven't rebutted, you know what I mean? Number one, you have dishonor me. And number two, everything that I talked about stands in truth. everything that went unrebuted. It mean your acquies means that your your you silence means that you actually agree to everything that I put in these letters. So you can't take me to court, you have to either discharge my debt, you have to resend the loan, you have to uh uh also um be accountable for those violations of you just simply ignoring me. Okay? And then as a bonus, you can use conditional acceptance requesting proof of consideration. And if they can't prove value, then they never had a deal. So there are some tools and things that you can utilize to properly resend a loan. And this goes handinhand with any discharge aspect. If you take this and this is what the administrative process is, is number one uh a challenge in the claim and then based on how they respond, you take them through an administrative process. You respond to them point for point. you find where they are not giving that burden of proof when they are not responding to you effectively and sufficiently then they are at fault. That is the thing. They're going to always be at fault because they cannot or as a matter of fact they can but they will not give you the information that you ask for. And this is why we always are in better position because when you shift that burden of proof onto them now they have to answer the questions. Okay. Now they are contracted. Now, there's a contract between you and I, where it's basically, hey, if you want your money, just give me the information I'm asking for and all of it, not just some of it. You mean? So, here's where this works best. All right. This applies strongly to unsecured loans. So, credit cards and personal lines of credit, you know what I mean? Personal loans. This also works best for mortgage agreements where securitization occurred. So if the bank sold your mortgage note as a mortgage back security, then this works perfect for them. And also auto loans that were monetized by your signature. You know what I mean? So you got to be very strategic. This does not cancel the debt instantly, but it builds your legal foundation for negotiation, disputes, and potential discharge of litigation. So I want you to understand that recision is not about evasion. It's about exposing fraud. You mean if there's a fraudulent contract, understand that you can fight against a fraudulent contract. Just it's so many laws, but just on the premise that under the truth of lending act protects you against fraud. Under the Fair Debt Collection Practices Act, it protects you against fraud. Under the uh restatement of contracts protects you against unlawful consideration. The foundations of contract law protects you against that as well. The UCCC gives you the ability to defend yourself against any type of commercial contracts that don't follow the aspects of a contract. So, there's so many ways to uh uh that you are protected. But the reason why we kind of get get stuck in a situation where we are, you know, we may send these letters and don't get results is because some of us don't inherently believe that we have the rights. And the whole point of us studying and educating oursel on these rights is so that we can um so we that we can believe it. You know, the more you read it, the more that you educate yourself on it, the more that you will actually embody it. Okay? You won't ask for permission. You won't expect them to tell you, "Oh, you're doing the right thing." You already know you're doing the right thing. And that's what separates people who get results and people who don't get results. The people who get results are the ones who are convinced and are able to convince others because they know that. But the person who doesn't get results is someone who's still questioning whether or not what they are reading is true. Okay? If you're questioning whether or not what you're reading is true, then this is not for you. Okay? But it's okay because it's part of the indoctrination making you think that what they say or that they are the authority. But the reality is you are the authority. We have this sovereignty conversation all the time and people think that they get their sovereignty through paperwork and all that does is just put out that public eye. But the sovereignty, the true sovereignty happens within yourself. Think about it. You really do. You really do have free will. You mean you really can choose how your life goes. Someone says, "Well, I don't want to pay debts." Well, then stop paying debts. What's the worst that's going to happen? You're going to default on a loan. But if you're not a part of the system or you know how to communicate with a debt collector, then you can challenge whether or not their default is valid. You can also choose to educate yourself on this as well. Or you can choose to live off the grid and never get credit. Some of us want to participate, but we want things handed to us. You know what I mean? Some of us want to want to uh uh thinks that okay just because we live here things should be given to us but that's not how it works. You attract you know what you want through who you are. Okay. So if you want to not work and you want to be a bum you want to be lazy you want people to just give you stuff then you're going to get exactly who you are. But if you're somebody who's willing to work for what you want out of life or be what you want out of life, then that stuff will come to you. You know what I mean? You have to be it. All right? Getting more into a mindset talk. So the thing is, if no value was given, there is no real argument. Okay? If they are trying to argue that they loaned you money, but they didn't, that's they don't really have much of an argument. Okay? That's not just philosophy. It's in the law. I mean, I say these are my philosophies and things of that nature, but I literally read it. My philosophy is following your rights and doing your due diligence. Okay? Because the simple question is, if they can't show consideration, then you may not owe anything at all. All right? You have a right to resend something that is fraudulent. You have a right to challenge a company that says that they loaned you something, but they didn't. You have a right to ask them that. and all they all they have to do is literally prove it and show it. That's all. It's not a rocket science, okay? But the more that you read, the more that you tap into the YouTube videos, the more that you like the video, the more that you comment, ask your questions, the more that you do that, the more this will stick. Okay? The more that you read, it will build more results in your life. The results will build belief and you'll constantly be able to take more action. The more action that you take or you can read it the other way. The reading leads to action. The action leads to results and the results builds more belief. Okay? Not only the result tangibly, but the result in your mind of understanding everything that we are talking about here when it comes to consumer law and how to use it to be able to build wealth, how to be able to use it to get out of bad situations, how to be able to use it to free your mind. Okay, so if you want to learn more about this down below, I have the complete that guide. Okay, to complete that guide right now, this is a course teaching you how every everything I talk about works. is going to also refer you to all of my most key YouTube videos that specifically talk about debt discharge. But more importantly, all the templates, all the things that I discussed here, I put together templates and I put it in a drive that's also in the complete debt guide. Okay? Just for that value alone, that price is that price. There are people who will give you one template and don't even explain how it works and they'll charge you the same price. So, go ahead and tap into the complete that guide down below. Um, this is something that you'll have for a lifetime. Number two, if you want to work with me oneonone, okay, specifically about your situation, okay? Now, this is a private coaching experience. So, I would typically tell a person if you are in debt, especially if it's a debt that you can pay. You're not trying to think long term as it pertains to this, then do not tap into that one-on-one mentorship because my my goal is to build partnerships and relationships and not really somebody who's hoping for me to fix their circumstance. Okay. Number three, follow me on Instagram at biz.nick. Also, check out my Twitch down below. We are going to be going live and doing live breakdowns. I haven't decided when I'm going to do that, but when we get to 100 followers, then I'm guaranteed to go live. Okay? And my last thing is, have you ever felt like your loan didn't feel real? Understand that you are not alone. Go ahead and drop a comment down below. Remember to like, subscribe, hit the post notification because I do post Monday through Friday because contracts can be broken and if the law is on your side, then you should be good. If you gotten all the way to the end, remember to comment the word discharge and I'll see you next time. Ah.