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Combined asset debt elimination membership organization and debt elimination method

  • US 20060080237A1
  • Filed: 10/12/2004
  • Published: 04/13/2006
  • Est. Priority Date: 10/12/2004
  • Status: Abandoned Application
First Claim
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1. A debt elimination method wherein:

  • providing an organization, the organization being an individual membership only organization;

    each individual joins the organization to become a member by registering and paying a registration fee and a membership dues, wherein each registered individual further consents that his or her payments of the dues in combination with dues paid by other members are combined and given as gifts for the purpose of personal debt elimination;

    each individual member further pays said monthly dues to be an active member and maintain his or her active membership status;

    funds available for personal debt elimination are calculated from the dues paid by the active members on a monthly basis; and

    an active member is randomly selected monthly and the available funds are paid directly to that randomly selected member'"'"'s creditors wherein said selected member'"'"'s personal debts are eliminated.

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