Author Topic: PSA: Don't swipe recklessly for others  (Read 264966 times)

Offline LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #3495 on: March 27, 2019, 07:04:59 PM »
.

Offline Moshke

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Re: PSA: Don't swipe recklessly for others
« Reply #3496 on: March 27, 2019, 07:08:04 PM »
If they were going to go bankrupt they shouldnít of paid the 17k
On a side note, someoneís credit is worth more than 33k
For 500k most people would declare bankrupt
Bankrupt only 1 name and at least only loose 17K not additional 33K

Online mmgfarb

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Re: PSA: Don't swipe recklessly for others
« Reply #3497 on: March 27, 2019, 07:32:22 PM »
Another grocery is in process of collapsing..
Relative BH only $50K and already paid $17K from pocket.
Should they bankrupt or pay the rest?
Speak to a competent financial advisor, not an anonymous internet forum.
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Offline ludmila

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Re: PSA: Don't swipe recklessly for others
« Reply #3498 on: March 27, 2019, 07:35:25 PM »
Seems like this can be another scam
Why canít they say if won you have to pay 10k ?
Anyone have good results ?
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Offline joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #3499 on: March 27, 2019, 07:44:52 PM »
Another grocery is in process of collapsing..
Relative BH only $50K and already paid $17K from pocket.
Should they bankrupt or pay the rest?
Do they have assets?
If they have the option to pay they may not gain anything by declaring bankruptcy. Unless they plan on borrowing, and then they have to figure what their out of pocket costs (principal plus interest) will be.
Must people would probably live tight for a bit so as not declare bankruptcy.

Offline joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #3500 on: March 27, 2019, 07:46:15 PM »
Speak to a competent financial advisor, not an anonymous internet forum.
+1, probably a trusted attorney as well

Online ExGingi

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Re: PSA: Don't swipe recklessly for others
« Reply #3501 on: March 27, 2019, 07:46:34 PM »
So set up a recurring transfer. Don't see why you would lock up your funds in a CD for no gain over that. Especially as rates continue to trend up.

I guess you're expecting a steeper inversion.  ::)
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Offline Mordyk

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Re: PSA: Don't swipe recklessly for others
« Reply #3502 on: March 27, 2019, 07:58:13 PM »
Bankrupt only 1 name and at least only loose 17K not additional 33K
Never declare personal bankruptcy.   Especially for this amount. You wont find an advisor that will let.  Dont take my word for your final decision but I'm telling you that this will be their response.

Offline LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #3503 on: March 27, 2019, 08:15:39 PM »
Transfer the balance to a 0% apr card.

Offline popcorn1508

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Re: PSA: Don't swipe recklessly for others
« Reply #3504 on: March 27, 2019, 08:43:24 PM »
On this topic I have a friend who swiped his way into credit card debt of approx 30k. At this point all his cards are maxed out. He can afford to pay the minimum payments but that would take years to actually pay off. Is it worthwhile for him to just stop paying and then settle with the cc companies?

Offline Moshke

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Re: PSA: Don't swipe recklessly for others
« Reply #3505 on: March 27, 2019, 09:06:01 PM »
Transfer the balance to a 0% apr card.
Thanks this sounds good.
What about just donít pay and go to collections and settle for less?

Offline LoLo

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Re: PSA: Don't swipe recklessly for others
« Reply #3506 on: March 27, 2019, 09:08:53 PM »
Speak to a competent advisor if you want to go down that road.

Offline cmey

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Re: PSA: Don't swipe recklessly for others
« Reply #3507 on: March 27, 2019, 09:29:33 PM »
Another grocery is in process of collapsing..
Relative BH only $50K and already paid $17K from pocket.
Should they bankrupt or pay the rest?

Another?

Online zh cohen

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Re: PSA: Don't swipe recklessly for others
« Reply #3508 on: March 27, 2019, 11:07:12 PM »
Never declare personal bankruptcy.

Why?

Offline pointer

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Re: PSA: Don't swipe recklessly for others
« Reply #3509 on: March 28, 2019, 01:11:00 PM »
I have a CD with BAM Apple Bank for 2.45%
Can get the same from CIT with no CD required.
https://www.dansdeals.com/points-travel/banking/cit-bank-now-offering-2-45-apy-savings-account/
Can get 2.5% (no CD required) with all american bank

https://allamerica.bank/personal/banking/checking/mega-money-market-checking

or with red neck bank (if you cool with redneckery.... )

https://redneck.bank/