What Are Mechanics of Accepted For Value A4V?

[ladybridge]

What are the mechanics involved for Accepted For Value (A4V) on a set off for your paid off purchases?

There are those who try to pay off their unpaid bills with A4V, which is know as a scam and fraud. What I'm interested in is when you purchase something using a credit card and pay it off with either Federal Reserve Notes (cash) or a check from your checking account. On your next credit card statement, it shows paid off with a zero balance. I read that if you pay something off with a federal reserve note/check from checking account, you still have to set it off. So what would you do to set it off after you paid with a federal reserve note/check? Would you take the credit card statement showing the balance and attach the cancelled check showing payment and stamp the A4V in red at a 45° angle signing in blue on the statement and copy of the cancelled check and send that in?

 

[army judge]

What are the mechanics involved for Accepted For Value (A4V) on a set off for your paid off purchases?

There are those who try to pay off their unpaid bills with A4V, which is know as a scam and fraud. What I'm interested in is when you purchase something using a credit card and pay it off with either Federal Reserve Notes (cash) or a check from your checking account. On your next credit card statement, it shows paid off with a zero balance. I read that if you pay something off with a federal reserve note/check from checking account, you still have to set it off. So what would you do to set it off after you paid with a federal reserve note/check? Would you take the credit card statement showing the balance and attach the cancelled check showing payment and stamp the A4V in red at a 45° angle signing in blue on the statement and copy of the cancelled check and send that in?

When I pay any bill in full, its simply paid in full.
Now, why is that?
Well, its because no one in this country would accept anything one would tender to pay off a note, a bill, or a credit card; unless it were backed by US currency.
That's a very simple concept.

 

[ladybridge]

When I pay any bill in full, its simply paid in full.
Now, why is that?
Well, its because no one in this country would accept anything one would tender to pay off a note, a bill, or a credit card; unless it were backed by US currency.
That's a very simple concept.

What about the private side, I think there is a debt from using the US currency because the US went off the gold standard and there is nothing to back up the currency because the currency is created at the time of use as Federal Reserve Note (I.O.U.). If you pay with an IOU, then the United States takes on the debt. I think you're supposed to send your cash receipts to the IRS to create a bond to pay the US treasury so it sets off the debt you created by paying your credit card bill with the US currency. The banks wouldn't like you doing this because it would cause their collapse...that is if everyone did it to eliminate the deficit.

 

[army judge]

What about the private side, I think there is a debt from using the US currency because the US went off the gold standard and there is nothing to back up the currency because the currency is created at the time of use as Federal Reserve Note (I.O.U.). If you pay with an IOU, then the United States takes on the debt. I think you're supposed to send your cash receipts to the IRS to create a bond to pay the US treasury so it sets off the debt you created by paying your credit card bill with the US currency. The banks wouldn't like you doing this because it would cause their collapse...that is if everyone did it to eliminate the deficit.

Perhaps, but the ONLY legal tender in THIS country is United States Currency.
Just so you know, a deficit has nothing to do with a debt.
Many people are unable to distinguish the difference.