Author Topic: PSA: Don't swipe recklessly for others  (Read 474328 times)

Offline Jo 08701

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Re: PSA: Don't swipe recklessly for others
« Reply #2960 on: March 03, 2019, 03:17:00 PM »
You are deluded. Sorry. Just not living in reality if you think there is any money left for anything on either side of the coin here. Saying someone should be able to count on friends and family for money to avoid criminal charges is the height of delusion. They have no friends right now, guaranteed. And family is not as generous as you would think they are in these situations.

Speaking out of an abundance of personal experience. Vhamavin yavin...
I don't know the perpetrators here,  but I am quite sure that they will do everything to avoid a criminal investigation, as of now it looks like they bank on the ignorance of the victims.
The Fed will not go after 100s small fish when they can use them as witness for a few big fish.
They definitely can't lose anything from uniting.

Offline Dan

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Re: PSA: Don't swipe recklessly for others
« Reply #2961 on: March 03, 2019, 03:21:46 PM »
I don't know the perpetrators here,  but I am quite sure that they will do everything to avoid a criminal investigation, as of now it looks like they bank on the ignorance of the victims.
The Fed will not go after 100s small fish when they can use them as witness for a few big fish.
They definitely can't lose anything from uniting.

But I'm sure you can call Twerski for advice on class actions ;D
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #2962 on: March 03, 2019, 03:23:34 PM »
100s small fish
Someone who opened cc's on his, his wife's, his father's, etc names, and is now out hundreds of thousands of dollars, might qualify for the 'big fish' title.

Offline unavailable

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Re: PSA: Don't swipe recklessly for others
« Reply #2963 on: March 03, 2019, 03:28:12 PM »
Someone who opened cc's on his, his wife's, his father's, etc names, and is now out hundreds of thousands of dollars, might qualify for the 'big fish' title.
not relative to the 'huge' fish

Offline Yhgfkj

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Re: PSA: Don't swipe recklessly for others
« Reply #2964 on: March 03, 2019, 03:28:56 PM »
Someone who opened cc's on his, his wife's, his father's, etc names, and is now out hundreds of thousands of dollars, might qualify for the 'big fish' title.
oy ..

Offline mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #2965 on: March 03, 2019, 03:34:44 PM »
But I'm sure you can call Twerski for advice on class actions ;D
Lol
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Alexsei

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Re: PSA: Don't swipe recklessly for others
« Reply #2966 on: March 03, 2019, 03:54:15 PM »
Just got word that the big banks are already collaborating on these cases
Gullible? Click here to find out!

Offline Jo 08701

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Re: PSA: Don't swipe recklessly for others
« Reply #2967 on: March 03, 2019, 03:55:30 PM »
Someone who opened cc's on his, his wife's, his father's, etc names, and is now out hundreds of thousands of dollars, might qualify for the 'big fish' title.
They are considered 3 small individual small fish against the big fish, I am sure your wife or father won't turn on you,  they will work against the real big fish.
But again you need a lawyer and proficient LOR who have knowledge in that part of choshen mishpat and the law and should also be powerful and be strong to come out in public to work on behalf of the victims.
I am personally not connected in anyway to this whole parsha, just giving my opinion in my leisure time.

Offline elimmm

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Re: PSA: Don't swipe recklessly for others
« Reply #2968 on: March 03, 2019, 03:57:05 PM »
Just got word that the big banks are already collaborating on these cases
Lol
As a chase PC, my personal banker called to update me, too.

Lol
« Last Edit: March 03, 2019, 04:26:48 PM by elimmm »

Offline hvaces42

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Re: PSA: Don't swipe recklessly for others
« Reply #2969 on: March 03, 2019, 03:58:59 PM »
I'm just grateful I'm not involved on either side of this.
Fair warning - Any PMs sent in response to forum posts are fair game for ridicule in public.

Offline Jo 08701

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Re: PSA: Don't swipe recklessly for others
« Reply #2970 on: March 03, 2019, 03:59:33 PM »
Just got word that the big banks are already collaborating on these cases
I don't think the big banks have a 100% interest for victims, they are trying to cut their loses.
The fed probably will have a better approach on behalf of the victims as they are more looking out for the small guys,  but again ask a LOR.

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2971 on: March 03, 2019, 04:04:39 PM »
So far we know that the swiping damage is around 50 million. I'm wondering if the banks will re-evaluate how much credit they provide across the board (even to those who were not involved), or if this barely makes a dent and will be written off as a loss. Another thing they can [but are less likely to] do is start requiring proof of income upon applying for a card.

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2972 on: March 03, 2019, 04:05:44 PM »
I don't think the big banks have a 100% interest for victims, they are trying to cut their loses.
The fed probably will have a better approach on behalf of the victims as they are more looking out for the small guys,  but again ask a LOR.

Come again?

Offline elimmm

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Re: PSA: Don't swipe recklessly for others
« Reply #2973 on: March 03, 2019, 04:10:46 PM »
The feds will be involved eventually, as it just takes one call to tip them off, be it a bank or an individual victim.
 Btw, the banks will attempt to squeeze everyone here. Their best interest is to show that the cardholders abused their t&c, therby making them responsible to pay back. After recouping as much as they can from cardholders, they will attempt to get whatever is left by having the feds go after the merchants in these cases, freezing their assests and locking them up.

Offline YesThatsMe

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Re: PSA: Don't swipe recklessly for others
« Reply #2974 on: March 03, 2019, 04:10:57 PM »
So far we know that the swiping damage is around 50 million. I'm wondering if the banks will re-evaluate how much credit they provide across the board (even to those who were not involved), or if this barely makes a dent and will be written off as a loss. Another thing they can [but are less likely to] do is start requiring proof of income upon applying for a card.

I feel the banks will make a killing of this parshah. Many will swallow the interest and pay for the next 10 years just to avoid bankruptcy and investigations...

Offline JACKBLUE

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Re: PSA: Don't swipe recklessly for others
« Reply #2975 on: March 03, 2019, 04:11:58 PM »
The feds will be involved eventually, as it just takes one call to tip them off, be it a bank or an individual victim.
 Btw, the banks will attempt to squeeze everyone here. Their best interest is to show that the cardholders abused their t&c, therby making them responsible to pay back. After recouping as much as they can from cardholders, they will attempt to get whatever is left by having the feds go after the merchants in these cases, freezing their assests and locking them up.
Oy Vie... please let this victims sleep at night....

Offline chayal101

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Re: PSA: Don't swipe recklessly for others
« Reply #2976 on: March 03, 2019, 04:14:02 PM »
As a chase PC, my personal banker called to update me, too.

Lol
what did he say??
Chaya L.

Offline elimmm

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Re: PSA: Don't swipe recklessly for others
« Reply #2977 on: March 03, 2019, 04:14:41 PM »
So far we know that the swiping damage is around 50 million. I'm wondering if the banks will re-evaluate how much credit they provide across the board (even to those who were not involved), or if this barely makes a dent and will be written off as a loss

-50 mil is worth hiring investigators up recoupe some of it

 Another thing they can [but are less likely to] do is start requiring proof of income upon applying for a card.

--not happening, there is a reason they don't require proof: it yields many more customers

Offline Jo 08701

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Re: PSA: Don't swipe recklessly for others
« Reply #2978 on: March 03, 2019, 04:17:33 PM »
Where is the number 50m coming from?
If you divide it in 100k that means a minimum of 500 victims,  and I assume that most victims were for less than 50k.
Unless you are telling that these victims had such a high LOC and played with a few CC.
And again I live in Lakewood and have family members and friends in Brooklyn and Upstate, and so far didn't hear from any names as victims.
500 victims is a very large number that it shouldn't affect every heimeishe family.

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #2979 on: March 03, 2019, 04:18:10 PM »
So far we know that the swiping damage is around 50 million. I'm wondering if the banks will re-evaluate how much credit they provide across the board (even to those who were not involved), or if this barely makes a dent and will be written off as a loss

-50 mil is worth hiring investigators up recoupe some of it

 Another thing they can [but are less likely to] do is start requiring proof of income upon applying for a card.

--not happening, there is a reason they don't require proof: it yields many more customers

The 50 million is not from one bank, but from several banks. Amex and Chase are probably the main ones.

Regarding your second point, yes, they want more customers, but they are also conservative about credit lines (at least Chase is). The reason I think it's unlikely they will do that is that it will require them to hire hundreds of employees just to check through applications.