Another Personal Issue, Asking Older People for Advice

[opie1988]

Since you are in the banking business I'm kindof surprised I really need to explain this to you but...
A bank makes loans or offers of credit based on laws and regulations (right or wrong) and they aren't required to offer Quang any credit... Given these rules part of the risk of loaning money is the risk of default and judging Quang's post my guess that his rates and terms
strongly reflect this perceived risk... Again the bank isn't required to loan money but by doing so they agree to
certain legal stipulations designed both to protect the lender and the borrower (obviously the bank's political lobby is much stronger then Quang's but we will ignore this since you wanted to discuss Quang's situation specifically)...
Legally while the bank has rights to help collect, Quang also has rights... Some of
this include that open debt isn't collectible after x number years (as low as three years depending on your state), the debt much be verifiable (if the bank writes off the credit to someone else they have to be able to show they legally have the right to collect), and Quang can enter into agreement to settle for a
lesser amount or, in some cases, get the entire amount canceled... This is all part of the framework of the original offer of credit (which again the Bank wasn't required to offer) but they agreed to it by entering into a contract with Quang...
In other words giving credit isn't as simple as we loan you money and you pay it back under any and all circumstances... If the bank doesn't want to loan someone money they don't have to play the game but if they agree to play they can't pick and choose what rules they like and part of the scenario (right or wrong) is that in numerous cases Quang has the right to stiff the bank on
part or all of his debt and this doesn't change regardless if Quang isn't from United States, chain smokes all day and gambles and drinks away all his money (since the bank were the one's who decided to lend him money under these rules)..
If you reread all my posts, until you decided to troll the thread off-topic, I only suggested that Quang find out the real rules (and offered some examples that he might not have considered) as we both know that banks and collection agencies are going to use them to their
full advantage (or ignore them if they think Quang isn't educated about them - which, of course, Quang could counter-sue for if the unlikely happened and things actually went to court)...

I am not in the banking business. I am in construction.

How exactly did I troll this thread off topic?

Quang made a thread saying he was considering stiffing his cc company out of the 3k he owes them. He then stated how he will use this ********** money to gamble.

Spin it however you like, pal.....

that type of action makes Quang a jerkoff and a bitch.

[mrmarket]

1)Continue to gamble this is most important thing
2)Let debt go into collection. $0.75/$1.00 in 8 months ---->$0.40-$0.50/$1.00 in 12+
3)File credit dispute at Transunion/Exquifax/experian early/mid december saying all charges to credit file are fraudulent peak season times means less thorough investigations due to holiday period at credit bureau/debt holders. you maximize chance of them just writing it off record because they have burden of proof and 30 days to investigate.
4) Worst comes to worst just settle and rebuild credit score which is not as daunting as people make it out to be.

That or just pay your bills you cheap fukk

[QuangX]

quang has to be someone's trolling ghost right?

running on a 3k cc debt helps you be "somebody in life"

Hey im young, I got lots of time. Im just listening to advice and make a smart move with my money.

[face]

quang, rent your ass you broke ass

[robzilla]

Just cuz it gets charged off doesnt mean u dont have to pay it. I had a debt that was charged off with a bank, but my wife has an account there. as soon as my name got put on her account they took thier money.

[dlunc3]

Just cuz it gets charged off doesnt mean u dont have to pay it. I had a debt that was charged off with a bank, but my wife has an account there. as soon as my name got put on her account they took thier money.

why would she make an account at that same bank?

[LVHerbie]

I am not in the banking business. I am in construction.

And lastly, yes, I do sit on the board of a couple of different banks.

Sorry if I misconstrued that as implying you were involved in banking business...

How exactly did I troll this thread off topic?

I don't really feel like cutting and pasting all your threats, rants, and attacks so I'll just post the original post and hopefully you can figure out on your own how many of them were on and off topic and if they fit the definition of trolling "In Internet slang, a troll is someone who posts inflammatory, extraneous, or off-topic messages in an online community, such as an online discussion forum, chat room, or blog, with the primary intent of provoking readers into an emotional response or of otherwise disrupting normal on-topic discussion" http://en.wikipedia.org/wiki/Troll_(Internet)

Well I have two decesion to make in my life right now by Jan 30th,

Should I pay off my CC debt or let it chargeoff.

Within the next 7 years, I see myself as a full-time student.

If chargeoff are the option, I believe it take 7 years to go off your record.

If i choose to pay it, I will have to use my Student loan to pay for the debt.

I was wondering if i Can possibly settle an amount.

I kinda wanna do the right thing, and just pay it off. Im grown now, and more Responsible, Doubt ill ever be in that deep shiet again.

Quang made a thread saying he was considering stiffing his cc company out of the 3k he owes them. He then stated how he will use this ********** money to gamble.

Spin it however you like, pal.....

that type of action makes Quang a jerkoff and a bitch.

I'm also kindof confused on who is spinning things because again you bring up character and I don't recall arguing one way or the other about anyone's character (well other then identifying which end of the shit pile I thought people were on...) But, for the record, because it is a flawed system in my opinion there plenty of jerkoffs and bitches taking advantage on both ends of the flawed system... (Although I would a admit a slight bias towards the person trying to hustle for his next carton of cigs over the one hustling for his second (or third) Mercedes)...

[edawg]

Bottom line is do what is best for you because you know the bank and CC companies always act in their best interests. (Pun intended) However you should learn from this and not go out of your way to try to screw the banks in the future. Try to live with in your means and be a decent person. Best of luck to you.

[No coincidences]

That why your a nobody, What are you 45, pay your bills on time and being america;s bitch for the rest of your life. Take some chances be somebody in life.

Only at SBR can you have a guy start a thread like this before eventually saying something like this.

[samdapatriotsfan]

Q, if you are serious about fixing your credit there is a book you should get. When I was 18 I charged up a bunch of debt and was late on payments. When the collection agencies started calling I got offended and told them to eff off, I was not paying. 9 years later when I decided to clean up my credit it was horrible. My score was 587 or something like that, just horrible.

After buying this book, I worked for 2 years and my credit score increased to what it is now in the low 800's (806 or something).

The book is called 'Guerrilla Credit Repair' by Brete Thomas. He sells them on eBAY and it worked for me. If you opt for the book I hope it works as good for you as it did for me.

PM me if you want some more information on this book.

[FourLengthsClear]

Okay, Honestly to all the people getting all butthurt, It fing 3K, It not like i owe them 300,000. N besides, If the bank don't approve all the credit then they didnt crash or get defualts. The bank is also greedy, They want to make that interest money, It goes both ways. It not the people fault, Economy collapse, where are people gonna come up with the money?(out their ass) People getting laid off. While the government bail out the banks. Who helps the people? The people are get screwed. The Ceo still ******* makes their 8million while a bunch of you support them like idiot and being ignorance. That my standpoint on bank.

While on my issue, Im just trying what best for my interest is. I'm asking for advice because you been around, probably been through this and know people who has. I have a central idea, but thx to people like HErbie bringing and actually helping with ideas and not trolling. Unless your a damn millionaire, You are being assfucked right now in America too. Everyone owes money for mortgage or some stuff.

And being a Man and paying their obligation dont work in country, Look at YOU!!!! and the CEO.

Justifying defaulting on your debts on the basis of "the banks are greedy" is pure BS. People laid off from work or who have genuine hardship restructuring their debt is one thing but that does not apply to you. If you can find money to gamble you can find money to pay your debts.

If you take the route of stiffing the CC issuer this time, it is statistically likely that you will do it again one you get your credit file cleaned.

Take responsibility for your actions rather then pointing to what others do.

[opie1988]

Although I would a admit a slight bias towards the person trying to hustle for his next carton of cigs over the one hustling for his second (or third) Mercedes...

This is where we differ, pal.

The way I see it.....if this same person would stop blowing their last $6 bucks buying another pack of cancer-inducing cigarettes, and instead do something useful with that money........then maybe they'd have that Mercedes.

[str]

Yes, banks are greedy.

You knew that before you took the card out right?

I have asked you simple questions as a means to help you.

You choose to argue with nonsense instead of answering.

Your problem, your choices.

Sadly, I will let a fool, be a fool.

I hope that you at least learn from this, whatever the outcome.

Best of luck.

[ngates815]

This is where we differ, pal.

The way I see it.....if this same person would stop blowing their last $6 bucks buying another pack of cancer-inducing cigarettes, and instead do something useful with that money........then maybe they'd have that Mercedes.

But Opie....



That just makes too much sense.

[ngates815]

And the fukkin chump just lost 1k last night "gambling"

[Bluehorseshoe]

Just cuz it gets charged off doesnt mean u dont have to pay it. I had a debt that was charged off with a bank, but my wife has an account there. as soon as my name got put on her account they took thier money.

Which means they got a judgement against you and I'm assuming you never went to court about the judgement?

[H1Cypher]

I use to work as assistant to this loan officer. His job was so easy eventually, I started to do half his work for him for more money under the table. Was going well until that sheisty persian ****** me for 3grand then fired me =p. But hey not everyone in the world is nice like me.

Your credit score is already ******.... with the late payments, and the route you are on. It will probably be ****** for the next several years while you try to rebuild it- if you can rebuild it(of course you can, but it sounds like you'll be strapped for cash for a while- especially since you're a student). Even then it's going to take a lot of good behavior for you to rebuild your credit.

[LVHerbie]

This is where we differ, pal.

The way I see it.....if this same person would stop blowing their last $6 bucks buying another pack of cancer-inducing cigarettes, and instead do something useful with that money........then maybe they'd have that Mercedes.

Having been stiffed for a nice sum last year by both individuals and businesses, and as I'm sure any long term gambler will tell you, the sting from those hustling Mercades is much sharper...

But don't let that stop you enjoying the company of your golf buddies...

[shari91]

Quanger, you're a bloody mess

[opie1988]

Having been stiffed for a nice sum last year by both individuals and businesses, and as I'm sure any long term gambler will tell you, the sting from those hustling Mercades is much sharper...
But don't let that stop you enjoying the company of your golf buddies...

No worries, I won't.

Smoke up, Johnny!!