PSA: Don't swipe recklessly for others

[Mplace]

How do u know the company who borrowed won’t also pay that back ?

unless they have a printing press or win the lottery,
They ain't got the money to pay back,
The money is gone,
Cc were being charged to pay other cc's

[chevron]

businesses should live by "yehi mamon chaveirecha chaviv mishelcha"

People, there's no easy way to get rich, I always tell people about risks and they laugh me off.

I paid off 250k in debt from a business collapse and don't how I had that strength.

It's also given me a lifetime avoidance to owing people money.

[aygart]

so what did happen?

Only 10K?! At the place being discussed on the Dont Swipe for Others thread, the raises came fast and furious. I saw guys getting pay doubled within 6 months.

[YesThatsMe]

Not to scare you it’s is 50-60M

You referring to S****? It’s not that bad.

[JACKBLUE]

You referring to S****? It’s not that bad.

This with the other stories.....

[Chief Rabbi of New York]

unless they have a printing press or win the lottery,
They ain't got the money to pay back,
The money is gone,
Cc were being charged to pay other cc's

According to some it’s just frozen payments ?
Then they would have the funds for payment

[JACKBLUE]

According to some it’s just frozen payments ?
Then they would have the funds for payment

i don’t think this is true.... besides the point they don’t have enough to pay back everyone.... they owe tons of people money....

[ExGingi]

When a business is constantly losing money, or if owners treat the business accounts as their own personal accounts, and there's lots of cash flowing through the accounts (because people chose to finance this with their credit cards, without doing any due diligence), it's a game of musical chairs with more and more chairs being removed with every round.

I have seen business owners that have no clue about accounting, and have seen both sides of the story.

I've seen money losing businesses where the owners constantly paid personal expenses from business accounts (until the business was shuttered - just to open the next business). I have also seen profitable businesses that simply didn't know how to manage cash-flow. A review of their books and business practices, with some education, saved lots of money on bank fees and interest payments, and put the business finances into better perspective for the owner.

[Don Will]

According to some it’s just frozen payments ?
Then they would have the funds for payment

Nah. From what it seems from what people posted here is that although it could be they did have some money to pay, they were using other cards to pay previous cards. Once their credit card processing terminal was frozen whatever funds they have are inaccessible and now they are in a hole where it's impossible to pay everyone

[YesThatsMe]

This with the other stories.....

Also not. The numbers are way exaggerated everywhere. I’d recknown 15MM total is the max. Bad enough though.

[JACKBLUE]

Also not. The numbers are way exaggerated everywhere. I’d recknown 15MM total is the max. Bad enough though.

i wish you were right! But unfortunately you’re not.....

[knowitall]

i wish you were right! But unfortunately you’re not.....

With the exception of the CH court docs, the ratio of Hock/talk to details on this thread is staggering

[yakrot]

https://crownheights.info/communal-matters/633411/store-in-swipe-for-points-scheme-quietly-removes-merchandise/?fbclid=IwAR00q7p-dhWwaCgah2QkzBRgo3KlbGxboLTnrp8-_nBIQ7YmRC1583t-Gvg

[chevron]

I'm still confused how the buzz fit in

[E R K]

I'm still confused how the buzz fit in

I think Sterling bought The Buzz