Paying bills with Bills of Exchange Act

00:16:12
https://www.youtube.com/watch?v=kUd3XTXLUkw

概要

TLDRIn this video, the speaker discusses the concept of bills of exchange and how they can be used to settle utility and government bills. They share personal anecdotes, including successful payments made using this method, and highlight a case where an individual cleared a £130,000 mortgage. The speaker emphasizes that this is not financial or legal advice but rather a strategy used by some people. A step-by-step guide is provided for drafting and sending a bill of exchange, along with potential challenges one may face.

収穫

  • 🔍 Understanding bills of exchange can help with utility debts.
  • 💡 Speaker shares personal success stories in using bills of exchange.
  • ✉️ Detailed steps for drafting and sending a bill of exchange.
  • ⚖️ The legal implications of acceptance and rejection.
  • 🚫 Expect pushbacks when using this method with authorities.
  • 📄 Keep thorough records of all communications and documents.
  • 🔒 Use registered mail to ensure receipt confirmation.
  • 💬 Avoid verbal communication; stick to written correspondence.
  • 💰 This is an alternative payment strategy, not official advice.
  • ⚠️ Always be prepared to settle through traditional means if needed.

タイムライン

  • 00:00:00 - 00:05:00

    The host discusses bills of exchange and their potential to assist in settling utility and government bills. A personal account is shared of successfully using a bill to pay a water bill, along with an impressive example of someone completely clearing a £130,000 mortgage using this method. The host mentions that despite some pushback from utilities, many people have successfully utilized bills of exchange during financially challenging times.

  • 00:05:00 - 00:10:00

    Detailed steps on how to effectively create and send a bill of exchange are provided. The importance of including accurate details and tracking is highlighted, emphasizing the need to established a proper paper trail for legal protection. The host reassures viewers that there may be rejections from creditors, but legally, silence over a bill for a certain period can imply acceptance.

  • 00:10:00 - 00:16:12

    The video wraps up with a metaphorical comparison of the signature used in the bill of exchange to a gold bar, asserting that one's signature creates value and can settle debts if accepted by the issuer. Viewers are encouraged to explore this method for themselves, with the disclaimer that it doesn't constitute financial or legal advice.

マインドマップ

ビデオQ&A

  • What is a bill of exchange?

    It is a financial document that an individual can use to settle debts or bills without using cash.

  • Can bills of exchange settle any type of debt?

    It mainly applies to utility bills and government debts, particularly from large corporations.

  • What should I do if my bill of exchange is rejected?

    Keep records, and respond without panic; you can settle the bill in the usual way.

  • What is the legal standing of a bill of exchange?

    If not returned within a certain time frame, it may be considered accepted under the bill of exchange act.

  • Is this method legally sound?

    This is not financial or legal advice, and one should do thorough research before proceeding.

  • How should I send a bill of exchange?

    Mail it via registered mail to ensure they cannot deny receiving it.

  • What can happen if I receive pushback?

    You can follow up or settle the account in the traditional manner.

  • How do I create a bill of exchange?

    Gather your original bill, draft your exchange, and send it to the creditor with proper documentation.

  • What if they don't respond at all?

    If they keep the bill without response, it's seen as acceptance.

  • Can I pay smaller businesses using this method?

    It's generally advised to target larger corporations for this method.

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  • 00:00:00
    hello and welcome back to the show today
  • 00:00:03
    I want to have a look at the bills of
  • 00:00:05
    exchange now you may remember I've had a
  • 00:00:08
    gentleman called Mike halt on the show
  • 00:00:10
    several times um explaining how the
  • 00:00:13
    bills of exchange can help people pay
  • 00:00:16
    those rather nasty utility bills or
  • 00:00:18
    bills from the government and just to
  • 00:00:21
    give this some sort of credence I
  • 00:00:23
    suppose I have um paid off my water bill
  • 00:00:27
    with one of these and the first time
  • 00:00:29
    they accepted it no problem uh for about
  • 00:00:32
    £300 the second time they pushed back
  • 00:00:35
    and I used different methods to sort
  • 00:00:37
    that out um however uh Mike has sent me
  • 00:00:40
    and we will get him back on the show to
  • 00:00:42
    explain this in more detail and other
  • 00:00:44
    things that he is doing but he has
  • 00:00:47
    explained um he he's put together a
  • 00:00:50
    separate website now um or a separate
  • 00:00:53
    web page I suppose is a better way of
  • 00:00:55
    describing it uh which makes it a bit
  • 00:00:57
    easier for people understand now also to
  • 00:01:00
    give this credibility uh I have had
  • 00:01:04
    gentleman get in touch with me and said
  • 00:01:06
    that he using the bill of exchange and
  • 00:01:08
    basically his signature his his
  • 00:01:11
    signature um has paid off his mortgage
  • 00:01:14
    completely cleared it £130,000
  • 00:01:17
    and that may make people go what what do
  • 00:01:20
    you mean so he did the bill of exchange
  • 00:01:23
    he signed off the thing and it went
  • 00:01:26
    quiet for a while and then when he went
  • 00:01:27
    to check his mortgage account to see how
  • 00:01:29
    much she was owing he found it had all
  • 00:01:32
    been settled that is quite startling I
  • 00:01:36
    think you'll agree and other people who
  • 00:01:39
    have had uh utility bills electric bills
  • 00:01:41
    and things have also used the same
  • 00:01:44
    method and of course in these times in
  • 00:01:47
    which everybody is finding it very very
  • 00:01:49
    tight people are being evicted from
  • 00:01:51
    their houses or they're having debt
  • 00:01:52
    collectors coming along I thought I
  • 00:01:54
    would share this method with you of
  • 00:01:56
    course what it does effectively as I
  • 00:01:59
    understand is using your legal fiction
  • 00:02:01
    the name on the birth certificate or the
  • 00:02:03
    certified entry of Entry the crown
  • 00:02:06
    corporation's legal fiction to settle
  • 00:02:09
    the account which um is is either coming
  • 00:02:13
    off your trust fund um or it is uh being
  • 00:02:17
    used to go onto the the financial
  • 00:02:20
    instrument that you effectively make is
  • 00:02:22
    going onto the um the the shares and
  • 00:02:26
    things the stock market and and then
  • 00:02:29
    it's being being utilized to make money
  • 00:02:31
    for the company that you sign for as far
  • 00:02:34
    as we're concerned as long as our bills
  • 00:02:36
    are paid and we haven't had to delve
  • 00:02:37
    into our own private funds so much the
  • 00:02:40
    better so I thought I'd just take you
  • 00:02:41
    through this web page I'll leave the
  • 00:02:43
    link in the description and you can do
  • 00:02:45
    it now please you know do your own due
  • 00:02:48
    diligence this is not Financial advice
  • 00:02:50
    this is not uh legal advice or anything
  • 00:02:52
    like that I am simply sharing um a
  • 00:02:55
    process that a number of people have
  • 00:02:57
    used and found worked uh there will be
  • 00:03:00
    push backs of course but according to uh
  • 00:03:04
    this web page then the bills of exchange
  • 00:03:07
    if they have accepted it and uh you
  • 00:03:09
    don't get the financial instrument
  • 00:03:12
    returned within 28 days then legally as
  • 00:03:15
    I understand it that means that it has
  • 00:03:18
    been accepted uh and I believe that's
  • 00:03:21
    what happened with when I dealt with the
  • 00:03:23
    council tax last year so let's have a
  • 00:03:27
    look anyway and see how we get on so
  • 00:03:30
    here we go how to create uh uh the bills
  • 00:03:33
    of exchange and the website here says of
  • 00:03:35
    course keep your cash in your pocket
  • 00:03:38
    understanding and using the bill of
  • 00:03:39
    exchange to legally settle all bills
  • 00:03:42
    sent by the government corporation
  • 00:03:44
    without spending your heard earned cash
  • 00:03:48
    it goes into a little bit of um
  • 00:03:50
    information about how that or rather
  • 00:03:53
    what it is uh and all of that but the
  • 00:03:55
    bit that I want to um get to is the
  • 00:03:58
    mechanics of it because this does seem
  • 00:04:01
    to be very advantageous for a lot of
  • 00:04:04
    people um and again just to reiterate
  • 00:04:08
    you know you've got to take on board
  • 00:04:10
    that you may well have bit of push back
  • 00:04:12
    there may be a bit of fear but if you
  • 00:04:14
    hold your nerve it ought to And I stress
  • 00:04:17
    ought to come out all right so how does
  • 00:04:20
    the bill of exchange work the mechanics
  • 00:04:21
    are straightforward but rely on precise
  • 00:04:25
    execution so you get a bill from the
  • 00:04:28
    government or a utility bill um so you
  • 00:04:31
    know don't go after small family run
  • 00:04:33
    firms and things like that these are
  • 00:04:35
    really the big
  • 00:04:37
    corporations um who understand how this
  • 00:04:41
    works uh it could be a fine it could be
  • 00:04:43
    a toll notice or it could be any other
  • 00:04:46
    demand and as I say I did deal with this
  • 00:04:49
    on the council tax the issue of the
  • 00:04:51
    organization that sends the issuer is
  • 00:04:54
    the organization that sends you the bill
  • 00:04:56
    you create the Bill of exchange you the
  • 00:04:59
    alleged deta follow the steps below to
  • 00:05:02
    draft the document naming the Creditor
  • 00:05:05
    I.E the issuer that's the people who
  • 00:05:08
    sent you the bill um as the paye you
  • 00:05:12
    mail the bill of exchange by registered
  • 00:05:14
    mail and sit back back and wait for the
  • 00:05:16
    response Now by law they should respond
  • 00:05:19
    with a receipt but often they'll try to
  • 00:05:22
    deny your bill of Exchange in other
  • 00:05:24
    words they'll come back and say oh we
  • 00:05:26
    don't accept that sort of thing so be
  • 00:05:28
    prepared to handle any
  • 00:05:30
    rejections um so you're not losing
  • 00:05:32
    anything because you know at the end of
  • 00:05:33
    the day if they say no we don't accept
  • 00:05:35
    it you can of course just pay in an
  • 00:05:37
    ordinary way uh you're not going to be
  • 00:05:40
    shoved in prison or anything like that
  • 00:05:42
    for attempting to pay by this method as
  • 00:05:45
    long as you settle the account one way
  • 00:05:46
    or another um acceptance or
  • 00:05:50
    rejection the Creditor receives the bill
  • 00:05:53
    of exchange and has a limited window
  • 00:05:55
    typically 72 hours but you can set the
  • 00:05:58
    time limit up up to 28 days if you wish
  • 00:06:01
    to accept or return it if they keep it
  • 00:06:06
    without objection without objection it
  • 00:06:08
    is legally considered settled under the
  • 00:06:11
    bill of exchange act that's the
  • 00:06:14
    important thing settlement the debt is
  • 00:06:17
    settled and the biller can take it to
  • 00:06:20
    the bank for payment and and I believe
  • 00:06:24
    that's that is simply um how it works so
  • 00:06:28
    you can read the web page and I'll leave
  • 00:06:30
    the link in the description so here are
  • 00:06:32
    the it steps which I just thought I
  • 00:06:34
    would run through briefly so you can see
  • 00:06:38
    so it says here step one gather your
  • 00:06:40
    materials original billing notice is
  • 00:06:42
    sent by the uh government or whomever um
  • 00:06:47
    always make a digital and paper copy of
  • 00:06:50
    the document sent by the agency so that
  • 00:06:53
    you have proof I.E the speeding ticket
  • 00:06:55
    utility bill Etc so that you start
  • 00:06:58
    creating a paper trail effectively it is
  • 00:07:01
    your court case should you ever need it
  • 00:07:04
    pen and paper you'll need a wet in
  • 00:07:06
    signature for legal weight envelope and
  • 00:07:08
    postage for sending back okay he says
  • 00:07:11
    this is very important scan or
  • 00:07:13
    photograph the bill as soon as you get
  • 00:07:15
    it and keep the image in a folder
  • 00:07:16
    dedicated to the bill of exchange always
  • 00:07:19
    keep copies create a paper trail proof
  • 00:07:21
    of receipt of the Bill of exchange you
  • 00:07:23
    send back so they're you know the Bare
  • 00:07:25
    Bones of it which is fairly simplistic
  • 00:07:28
    uh step two draft the bill of exchange
  • 00:07:31
    so um I'll give you an example of how it
  • 00:07:34
    should look in a moment uh and we have
  • 00:07:37
    done this on um previously but um it's
  • 00:07:39
    always good to revisit some of these
  • 00:07:42
    things so pay to the order the Bill's
  • 00:07:45
    name without recourse uh so this is
  • 00:07:48
    slightly different from how I did it but
  • 00:07:51
    um if I think this is a an updated
  • 00:07:54
    version um buy and this is where you
  • 00:07:57
    sign and date you sign your name and you
  • 00:07:59
    would normally do um you write your name
  • 00:08:03
    below your signature first name of the
  • 00:08:06
    uh of the house surname endorser and
  • 00:08:09
    general executor sign it with your usual
  • 00:08:13
    signature in blue or red if you wish no
  • 00:08:16
    digital signatures date it for the day
  • 00:08:19
    you post it this starts the 72-hour
  • 00:08:23
    clock each time you create a bill of
  • 00:08:26
    exchange click on the uh forms lip forms
  • 00:08:31
    image below to generate authority to
  • 00:08:34
    process the bill of exchange letter and
  • 00:08:36
    you'll see on the website you can do
  • 00:08:37
    this now I didn't do that I just signed
  • 00:08:40
    it sent it off I did have some push back
  • 00:08:43
    but eventually they must have accepted
  • 00:08:45
    it because um I never received a
  • 00:08:47
    liability order and it all went very
  • 00:08:49
    quiet with the council tax but it I had
  • 00:08:52
    a statement from the water company
  • 00:08:54
    saying that it was settled so I had set
  • 00:08:58
    a precedent with them even even though
  • 00:08:59
    after making the video of course they
  • 00:09:01
    were flurried with a number of people
  • 00:09:03
    doing the same and then they pushed back
  • 00:09:06
    quite heavily um if you know a specific
  • 00:09:09
    person's name I.E the officer issuing
  • 00:09:11
    the fine address it to them for added
  • 00:09:14
    Precision or address it to the S the the
  • 00:09:19
    I guess that's the um Chief finance
  • 00:09:21
    officer of the organization you can also
  • 00:09:24
    make a copy of the original and address
  • 00:09:26
    it to the fraud department so now if I
  • 00:09:30
    press this button we should see an
  • 00:09:32
    example of how to do the bill itself and
  • 00:09:35
    what you do and how you write it as you
  • 00:09:38
    can see the information the personal
  • 00:09:40
    information has been redacted here but
  • 00:09:43
    that's not the point so we've got a$
  • 00:09:47
    1,915 uh dollar uh bill here from
  • 00:09:50
    something called AGL which presumably is
  • 00:09:52
    an electric company in Australia but
  • 00:09:54
    this works in this country as well uh
  • 00:09:57
    and you can see this is how you do it it
  • 00:10:00
    um in red ink as you can see so that uh
  • 00:10:04
    it's all signed it's all basically in my
  • 00:10:08
    mind what's going on here is as if
  • 00:10:11
    you're you're turning this instrument
  • 00:10:13
    this bill into a financial
  • 00:10:16
    instrument and so it can be then
  • 00:10:20
    effectively a pro promiser note of sorts
  • 00:10:22
    so that it can be taken by the uh issuer
  • 00:10:25
    to the bank and it and it will settle
  • 00:10:27
    the account um
  • 00:10:29
    um he says also add any other extra Bits
  • 00:10:33
    of Paper that come with it um void as
  • 00:10:37
    intio here which basically says not
  • 00:10:40
    relevant nothing to do with it you know
  • 00:10:42
    um and what have you uh so there it is
  • 00:10:46
    you send it back step three place the
  • 00:10:48
    bill of exchange you've created into an
  • 00:10:50
    envelope and address it to the person or
  • 00:10:52
    the organization department head if you
  • 00:10:54
    don't have a name always send your bill
  • 00:10:56
    of exchange by registered mail as we
  • 00:10:58
    said tracking issues
  • 00:10:59
    so that they cannot deny receiving it no
  • 00:11:02
    need to get signature at the other end
  • 00:11:04
    um although it's handy you po post your
  • 00:11:07
    post office receipt is evidence that you
  • 00:11:09
    sent it mail to the address on the
  • 00:11:12
    notice don't call or email as verbal
  • 00:11:15
    communication we weakens your paper
  • 00:11:17
    trail and I would definitely say keep
  • 00:11:20
    all your Communications via paper rather
  • 00:11:24
    than emails or telephone calls I have my
  • 00:11:27
    phone permanently on silent because I
  • 00:11:29
    don't want them calling to me and
  • 00:11:31
    changing jurisdiction in a conversation
  • 00:11:34
    and uh here it is your 74h hour rule and
  • 00:11:38
    step four if they don't return the bill
  • 00:11:40
    of exchange within three days if you
  • 00:11:42
    have given them longer to respond then
  • 00:11:44
    don't do anything until that time
  • 00:11:46
    expires follow up if they persist with
  • 00:11:50
    demands and refuse to honor your bill of
  • 00:11:52
    exchange which is what happened to me
  • 00:11:55
    and with the council tax after the time
  • 00:11:58
    limit no their response and lack of it's
  • 00:12:02
    evidence that they've accepted the bill
  • 00:12:03
    of Exchange in other words if they keep
  • 00:12:05
    coming back to you um unless they return
  • 00:12:09
    this bill this is my understanding
  • 00:12:11
    unless they return it uh they have
  • 00:12:14
    accepted it they might say we don't
  • 00:12:16
    accept this we don't accept it and I had
  • 00:12:18
    exactly that with the council saying
  • 00:12:19
    well we don't accept it we don't accept
  • 00:12:21
    it and I said well that's fine send it
  • 00:12:22
    back send it back and I'll settle it a
  • 00:12:25
    different way but they didn't and then
  • 00:12:27
    eventually it just all disappeared
  • 00:12:29
    once you have sent your bill of exchange
  • 00:12:31
    or response letter do nothing wait for
  • 00:12:34
    their response and then decide your next
  • 00:12:36
    step often an organization will settle
  • 00:12:39
    your account but neglect to confirm with
  • 00:12:41
    a receipt you can and should write
  • 00:12:44
    demand a legally formatted receipt
  • 00:12:46
    notorized by the person responsible um
  • 00:12:49
    but if you don't get a bill back then
  • 00:12:51
    you know it kind of says it doesn't it
  • 00:12:52
    check the next bill they send it shows
  • 00:12:54
    the new amount this shows that they
  • 00:12:57
    accepted the bill of exchange which is
  • 00:12:58
    what happened to with the water bill
  • 00:13:00
    because the water bill came and it said
  • 00:13:02
    the last couple of payments and it
  • 00:13:04
    showed that them were paid and here
  • 00:13:07
    stand firm avoid phone calls um and if
  • 00:13:12
    you do accidentally say I can't discuss
  • 00:13:13
    this matter with the phone communicate
  • 00:13:15
    by mail only keep the records of every
  • 00:13:18
    notice they send anyway uh it talks
  • 00:13:21
    about the things that can go wrong
  • 00:13:24
    um which is worth looking at and um what
  • 00:13:28
    to do when they don't receive uh when
  • 00:13:30
    they don't honor the
  • 00:13:33
    bill um and of course if they don't
  • 00:13:35
    honor the bill and they don't return the
  • 00:13:38
    um thing the financial instrument then
  • 00:13:42
    um what another thing I I did was to
  • 00:13:44
    send them an invoice and said well you
  • 00:13:46
    haven't returned it so I'm sending you
  • 00:13:47
    an invoice with the same amount these
  • 00:13:49
    are all different tactics of course I'm
  • 00:13:51
    not saying any of them are the perfect
  • 00:13:53
    solution to anything but in this world
  • 00:13:56
    where the government is uh causing chaos
  • 00:14:00
    and Mayhem to people and putting the
  • 00:14:01
    price up of everything taxing us left
  • 00:14:04
    right and Center utility companies may
  • 00:14:06
    not be acting um properly legally
  • 00:14:10
    according to the jurisdiction that many
  • 00:14:13
    of the utility companies particularly
  • 00:14:14
    say with electricity are merely Brokers
  • 00:14:17
    pretending to supply you with
  • 00:14:19
    electricity when actually they're not
  • 00:14:21
    doing that they're under a different act
  • 00:14:24
    the credit act as I understand it then
  • 00:14:27
    um we're just simply responding to that
  • 00:14:31
    uh by saying fine I'll send your bill
  • 00:14:33
    I'll try the signature as I say always
  • 00:14:35
    have the money aside because you can
  • 00:14:38
    always at the end of the day go and say
  • 00:14:41
    okay I I'm fed up with the the fear and
  • 00:14:43
    the pressure and the rejection of all of
  • 00:14:46
    this you can at the end of the day pay
  • 00:14:50
    um the way I look at it if if you want
  • 00:14:52
    it to put it in a different way is you
  • 00:14:54
    you get a bill it comes in and you go
  • 00:14:58
    okay I'll settle that
  • 00:15:00
    with your signature um but look at it
  • 00:15:02
    this way you give them a gold bar I'm
  • 00:15:05
    this is just a you know a way of looking
  • 00:15:06
    at it they don't actually do this it's
  • 00:15:08
    like you've given them a gold bar and
  • 00:15:10
    then they come back and say well we
  • 00:15:12
    don't accept gold bars and you go fine
  • 00:15:14
    okay hand me my gold bar back and I will
  • 00:15:18
    pay you in the normal way or another way
  • 00:15:22
    if they don't hand you your gold bar
  • 00:15:25
    back you've effectively given them the
  • 00:15:28
    money you've they've they've they've
  • 00:15:30
    accepted the gold bar your signature is
  • 00:15:33
    effectively the gold bar that you create
  • 00:15:36
    you are creating money with your
  • 00:15:38
    signature that's how it works I'll leave
  • 00:15:40
    the link in the description you have a
  • 00:15:41
    look at it see what you think and um I
  • 00:15:44
    will be back with more things soon and
  • 00:15:47
    as I say we we'll get Mike uh on the
  • 00:15:49
    show in due course and we'll go through
  • 00:15:52
    it another time plus find out all the
  • 00:15:54
    other things that he's doing um but I'll
  • 00:15:56
    leave the link in the description and
  • 00:15:58
    you can see for yourself how you feel
  • 00:16:01
    about it this isn't financial advice
  • 00:16:03
    it's not legal advice it is just an
  • 00:16:05
    option that you might want to explore
  • 00:16:08
    for entertainment purposes only till
  • 00:16:10
    next time goodbye
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