The critical document in this story is the BOE, but I have no idea what that’s supposed to stand for.
I also don’t know POA. (Maybe power of attorney, but doesn’t make sense).
“Recision of security interest” sounds a lot like a document that attempts to void out the part of the loan papers that let the lender repossess the car on default.
CFO is chief financial officer, an executive at the lender organization.
UCC is the Uniform Commercial Code, a set of laws enacted in most states covering business practice regarding contracts and such.
SEC is the Securities and Exchange Commission, which regulates publicly traded stocks (“securities”). This seems to confuse the investment meaning of security with the different meaning of “security” on the loan.
CFPB is the federal Consumer Financial Protection Bureau. This organization does do things to protect borrowers in default from unfair debt collection practices. I can’t imagine why they wouldn’t just leap into action for this case.
Finally IRS collects federal income taxes. Form 3949a is a tattle tale form that lets you report things like your friend’s improper deductions to the IRS. That’s real nice.
BoE means Bind on Equip meaning you can freely trade it to another player until it’s equipped. At that point, the item becomes “soulbound” and cannot be traded again
I also don’t know POA. (Maybe power of attorney, but doesn’t make sense).
I get dizzy trying to follow this, but SovCit may have given the lender a limited power of attorney over the super-duper-definitely-real trust account that they’ve reclaimed from the fake government, so the lender can draw down the funds to pay for the car. SovCit is not a thief, after all!
I think I’ve seen this before, idk what boe stands for but it’s some sort of document that a lender can give you that basically waives needing to pay. I don’t know the details and it’s not like they use these things in good faith. Essentially this person is trying to get out of paying for their car. That’s why it got repossessed.
I’ve gotten better with SovCit speak, but imma going to need a glossary for this post. I got the gist but that was it.
The critical document in this story is the BOE, but I have no idea what that’s supposed to stand for.
I also don’t know POA. (Maybe power of attorney, but doesn’t make sense).
“Recision of security interest” sounds a lot like a document that attempts to void out the part of the loan papers that let the lender repossess the car on default.
CFO is chief financial officer, an executive at the lender organization.
UCC is the Uniform Commercial Code, a set of laws enacted in most states covering business practice regarding contracts and such.
SEC is the Securities and Exchange Commission, which regulates publicly traded stocks (“securities”). This seems to confuse the investment meaning of security with the different meaning of “security” on the loan.
CFPB is the federal Consumer Financial Protection Bureau. This organization does do things to protect borrowers in default from unfair debt collection practices. I can’t imagine why they wouldn’t just leap into action for this case.
Finally IRS collects federal income taxes. Form 3949a is a tattle tale form that lets you report things like your friend’s improper deductions to the IRS. That’s real nice.
BoE means Bind on Equip meaning you can freely trade it to another player until it’s equipped. At that point, the item becomes “soulbound” and cannot be traded again
Hehe, that brought back memories from my WoW days. 😁
The sad part is that I almost didn’t get that you were joking.
Because they actually believe that sort of weird shit.
This vehicle is an item level upgrade for me so I can’t trade it to the government, sorry.
MY SOUL IS BOUND TO THIS CAR !!! IT IS MY RIGHT BY ACT OF GOD AND U.S. CODE § 7106.7 !!!
I get dizzy trying to follow this, but SovCit may have given the lender a limited power of attorney over the super-duper-definitely-real trust account that they’ve reclaimed from the fake government, so the lender can draw down the funds to pay for the car. SovCit is not a thief, after all!
Bill of Exchange is a financial document used to facilitate payments, similar to a check or promissory note.
Yeah it’s the BOE and 3949a I didn’t know. Also “poa” but I think that’s “power of attorney”.
Sorry I edited some of this stuff in.
I’m still stumped on BOE, but IRS form 3949a allows you to narc on people for tax misconduct.
Wow. That’s a crazy one. Thanks for putting that together!
So sov cits admit they’re dealing in commerce with their vehicles?
I think I’ve seen this before, idk what boe stands for but it’s some sort of document that a lender can give you that basically waives needing to pay. I don’t know the details and it’s not like they use these things in good faith. Essentially this person is trying to get out of paying for their car. That’s why it got repossessed.