from this thread: http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=786585
memberkgb said: Hey guys,
I need to get a credit card preferably with around a 20g limit, that has a first transaction with some a low interest rate. I am 18, have a job making around 30k a year and a full time student. No previous credit cards, but I have had my bank account for around 2 years with WAMU. Where do you think I should look, I need to make a one time purchase of around 20k that I will pay of in a year. Thanks.
SUCKISSTAPLES said: from this thread: http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=786585
memberkgb said: Hey guys,
I need to get a credit card preferably with around a 20g limit, that has a first transaction with some a low interest rate. I am 18, have a job making around 30k a year and a full time student. No previous credit cards, but I have had my bank account for around 2 years with WAMU. Where do you think I should look, I need to make a one time purchase of around 20k that I will pay of in a year. Thanks.
Looks like the classic "I want to get in some major debt FAST" line right there...
As most of you would remember, I was $17,000 in credit card debts (asides from the money I owed to people). SO I went to see a bankruptcy trustee and based on the information given to me, a bankruptcy or even a proposal would keep me from getting a job in my field.
So I told my parents that I was in trouble, that I got into a complicated business and I need $10,000. Actually, I told them to invest that $10,000 in me as a formal loan and I would pay them pay $212 a month for 5 years, which is at about 10%. They would just not accept and forced me to give them exact details on where I owe the money and how I got into such debt. I kept on telling them "it's complicated and everytime I have to beg for $20 here and there, I die a little, just give me a normal loan for $10k and I will pay you back just like a normal mortgage".
Now remember, my parent could finance the house at way less than 10%. But they still insisted on knowing what I got myself into. It was more harassement then anything else. The WHAT DO YOU NEED THE MONEY FOR questionnaire when you try to borrow to pay your gambling debt is the most uncomfortable situation for a gambler.
So I made up a story about being involved in a business, rather a partnership with some friends 2 years back, debt being run on and now pressurizing. They told me everything in the book that I could do besides lending me the money. Sell my shares, sell goods, why did you do it, etc. Finally, I told them that some people that financed me were indirectly involved with the mafia people. My parents suddenly got worried and told me to get out of it as soon as I can. Heck, my dad was still telling me to tell them I don't have money and that I would pay pay them back as I work, even if they ask for 40-50% interests. But when I spoke to them both, I had no choice but to make something up, something that does not exist.
What type of business? Where is it? What was the market value? Details on the inexistant mortgage on the establishement. They told me to get out of it by offering my share of the business for FREE to my partners. It was only after I told them that the people involved are higher people that are capable of coming after me and my family that they agreed to lend me the money. And then guess what, they tell me "We'll give you the $10,000 and we don't even want it back, just get out of it".
Apparently my parents don't care about my dignity. I had to tell them my life was in danger for exactly $10k before they accept. And as far as they know, I will still be penniless and would have to beg for every $20 and explain what I need the money for. When you go borrowing money from someone, having to tell them what your intention is is not something you wanna do. I felt so bad because they told me because I got involved with such people, they won't be able to sleep at nights. I probably should've filed for bankruptcy.
Anywho, I have $10,000 now, $17,000 in credit card debts and a $5,000 student loan. I am still thinking, with $10k, I could pay off my friend ($1200), also in financial trouble but never asked me what I needed the money for, I could buy a new car, etc. It's not like giving money to these unimaginable bastards (the banks) will get me out of debt completely. A HUGE chunk of my CC debt comes from fees and interests. Just the thought of giving them the money they took at will out of me makes me wanna puke.
I could still file for a proposal/bankruptcy and save tens of thousands. I mean what if I pay them off and STILL don't get a job at one of the financial institutions as I'd like? Then they really would have screwed me over.
Is a good credit rating really worth that sum?
I'm just thinking of my parents that spent so much money for my education and then me filing for bankruptcy because of a mental illness... how would they feel? They had such big hopes for me. That I will become something one day. I know I would feel like shit and hurt if I raised someone all his life and at the age of 24, just before graduating university, he tells me he f'ed up his whole future and lost almost $70k in gambling in the past 6 years.
Actually, I have:
$11,000 at 13.5% $4,500 at 11.5% $1,500 at 11.5% and $1,000 at 26%
I was thinking of clearing the later 3 and bringing the $11k under limits, leaving me with 2k. Pay the bookie his $1300 and leave myself with $700.
And no the bad luck hadn't stopped. I gambled $60 on a parlay, lost because of ONE TEAM, at -13, up by 14 gave up a basket with NO TIME LEFT ON THE CLOCK!! That was a $220 slap in the face!!!
Taken from post here: http://www.fatwallet.com/t/55/780892
It would help if the username was posted with the quote, so everyone will know who it's from if the original thread gets deleted.
4myfamily
Senior Member
posted: Nov. 29, 2007 @ 8:02a
usctrojan24 said: So, I keep seeing these target retirement funds. I am a financial planner, the only advantage I see is that it allows you to forget about the money. Are the fees lower? b/c i use annuities that give 3-5% bumps and lock in the principal amount, so you can't lose money plus i can be aggressive. I'm up 49% this year. I have not seen returns over 20%.
jacobhorne said: I was thinking...If I built up my credit scores for 10 or so years then decided to get like 15 or so Credit Cards and max them out... Then fly to Mexico or the Philippines and live it large for a couple of years then come back to the US. When does the Statute of Limitations Run out? I live in SC...I think it varies by state. Not saying I would do it but...it is a thought. Thanks any info. Don't Torch me! ha
"For years people have talked about their "anonymous Swiss bank account" - does anyone know how to actually go about signing up for these (could be Swiss or other foreign accounts)? What are the acct minimums and interest rates? Are they still anonymous?
Ive always been interested in this but never researched it...perhaps the FW community knows about these"
Hmmm...
asdf9876
Happy Member
posted: Nov. 29, 2007 @ 9:47a
This thread will be incomplete until someone finds the "rape the markets" quote.
SimpleMoney said: Anyone else think AOR/BTs where people apply for 50 credit cards to get signup bonuses then take out as much money as they can at 0%, put it in a 5% money market, and then pay the cards off when the 0% rate expires - is unethical and fraudulant?
This causes the credit card company to lose money by giving you an interest free loan. The CC company is not intending for you to pay back the entire amount immediately after the 0% rate goes down. The intention is for someone to build up some debt and then pay it back slowly with interest afterwards.
Since the CC company is losing money to AOR/BT hackers, they have to charge higher rates to legitimate CC users. So when you hear about people being trapped by 25% rates, you can thank yourself if you have participated in AOR/BT hacking.
BofA burned my house down, killed my mother, sold my children into slavery, blinded me with a hot poker, salted my fields so that nothing could grow, convinced my wife that she could do better, poured sugar in my gas tank, raped my dog, AND placed a hold on all my deposits."
ifyouhavetoask said: Dealing with 401k's and IRS's is a sign that a person is dealing with chump changehttp://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=725409ifyouhavetoask said: Something worse than the 1930's is coming this way pretty darn soon. Anyone with a shred of common sense can see that. However, you're not going to find too many FW members who see the signs. Too many Kool Aid drinkers around here, with delusions of getting rich with AOR's and $100 offers to open checking accounts.”http://www.fatwallet.com/t/52/748683/
Beernuts82 said: SimpleMoney said: Anyone else think AOR/BTs where people apply for 50 credit cards to get signup bonuses then take out as much money as they can at 0%, put it in a 5% money market, and then pay the cards off when the 0% rate expires - is unethical and fraudulant?
This causes the credit card company to lose money by giving you an interest free loan. The CC company is not intending for you to pay back the entire amount immediately after the 0% rate goes down. The intention is for someone to build up some debt and then pay it back slowly with interest afterwards.
Since the CC company is losing money to AOR/BT hackers, they have to charge higher rates to legitimate CC users. So when you hear about people being trapped by 25% rates, you can thank yourself if you have participated in AOR/BT hacking.
"I to have taken the plunge into the iraqi dinar, it did this back in December. I got 2,000,000 for 500 us dollars. This a long time investment, you can not expect to make a quick million in just days"
"I got my dinar over in Baghdad, the current exchange rate here on the street is 1478 dinar per USD. You will not be able to exchange the dinar in the US until we recognize it. Yes the dinar is on the exchange but it is not on the world market yet. They real test for the dinar will be June 30th when CPA turns power back over to the Iraqi's. You have to think of all the money the US has spent here, they have to make some off it back. The quickest way to the that is to make the dinar worth the same or about the same. Also the dinar can not get any worse then it already is, i can not lose money. I have already made money on the dinar. I am still buying dinar to this day, i have one of my local workers go down town and the next day he brings me back my dinar. I think it will work out in the long, remember it is not a short term investment. Remember Kuwait was the same way Iraq is now, but Kuwait made a big bounce back in only 5 years."
ragnacor1234 said: ________________________________________ Does anyone think that buying land on the moon and other planets from this company would be a good investment?
Planetary Investments
They do legally own the surface of every planet in our solar system according to their website!!!
I wish the "I need to BK, can I still $5K worth of furniture before I do it so my kids don't have to look at an old table and couch" thread hadn't been deleted.
simmer said: Hi all anyone who can help with ideas may do so---I am a cosigner on a promissary note on a house that I signed for my mother in 98 in Northcentral Wisconsin---I lived there at the time---I moved out in March 99.. Now I live in the Suburbs of Chicago 300 miles away---My mother defualted in August 2004---Payments are $250.62 a month which includes property taxes at an 8.9 percent interest rate---My mom owned over 30 cats an when she defualted, the loan officer went looking for her at the house, saw all the cats and called the department of health and cats were taken away and she was charged criminally---So she went in hiding and abandoned the property which the loan officer searched my credit report and gave me a nice awakening that I am just as responsible as her for the property---I made the 750 dollar back payments and have been current since Aug of 2004 because the damage the cats have done to the house, I know there is no selling it or renting it to anybody!!
It was the worst mistake of my life to sign on this property but I had no choice at the time, we had nowhere to go---I have 2 brothers and they want nothing to do with it...My older brother says it is uninhabitable that after he left the cats made the house their litter box---I haven't talked to my mom in a year and a half because of this---She is on disablity so if we went to foreclosure and are sued, obviously I take the whole brunt of the defaulted charge so that is why I am paying it to avoid what foreclosure would do to my credit---The loan expires 2018---I really dont want to be paying for another 12 years but I have a much more immediate problem---I looked at my credit report yesterday and there is an inquiry from Taylor County Housing where this house is located on 3/28/06 purpose is tenant screening---Since I haven't lived there in 7 years I know its about the house---I'm thinking cause nooone is cutting the grass or any upkeep of the place they may be contacting me to fine me or something cause they can't get a hold of my mother
I tried going online and filling out those ugly house things where people would buy your property and they all come back that there is no market or agents up there---1 did contact me in Oct 2005 and actually checked out the property and said he took a couple steps inside and couldn't take the smell of cat urine and he said he would need boots cause excrement was all over the place---Now I lived there for 4 years and it was not like this when I lived there---all this spiraled out of control when I left---He told me that there was no value and he couldn't think that anyone would want it in that condition
I figured I should take the lead and call the housing authority and ask why they placed the inquiry on my report but fear the bad news---I'm fearing I'm gonna get slammed with fines and charges for the abandoned property by mail if I just sit and wait around---I'm not a handyman so I can't just fix up the place while I have friends that are, we are in Illinois 300 miles away---To put it this way, I have no contacts or help from anyone in that state including my mother and brothers I through with their no monetary or physical help
So now what? I know people sign for their family members for houses and things cross country so there has to be someone who knows of a similar situation who may be of help---I've looked at it from every angle and have deemed there is no way of the hook except death----I called a property lawyer and he told me let them foreclose but thats easy for him to say its not his life and credit ruined---I'm sure there is no value in the house so I'll be stuck with an accelerated $19,000 note---Thank you all---House was bought at $32,000---now owed little over 19K remains---And no I don't have the funds to pay more than the mininum payment each month besides why would I want to?
And then, the one of MANY infamous, incoherent rambling threads.... where you have to search to figure out WTF the OP is talking about... Prime example:
http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=763124&highlight_key=y&keyword1= zayea said: I sat out my 90 days on time out .... now they got the better of me . i was charged twice for $149.99 which left me scrambling for memberships that i have might have misplaced. I got the money back a week later( thank god it was working of the money i got from them and not myself).....so my story from previous posts i have been doing this for over a year and i was raking it in. Then i got " THE LETTER" but yet again there is another flaw which i am going to exploit....it stated in thier letter that all my memberships would be can canceled.....well if that was the case then why was i charged??????
They are not as organized they want us to belive. So here i go .... i have all my vouchers they provided me which provides me Cash Back plus gift cards i am sure i will receive.
The "Help me, I am in trouble (usually through no fault of my own (or at least I won't admit it in the Original posting))" -type thread.... This one includes the mandatory "accidently", "never received", "harrassed", and use of honest, truth, perfect credit, etc... and ADDITIONALLY, the required slur / slanderous remark (or loss of temper).
Advice Sought: Settling Account with Collection Agency http://www.fatwallet.com/forums/messageview.php?catid=52&threadid=773631&highlight_key=y&keyword1= lollavid said: I couldn't think of another place to turn. My wife and I opened an Old Navy credit card over a year ago. We accidentally put the wrong mailing address, so we never received the card nor the bill. Recently we have been harassed by a Collections Agency who want to collect $320 on a $120 bill.
I should mention that my credit history was, until now, IMMACULATE!
I called today and apparently there are multiple companies involved. The main one that handles the debt offered to settle (today only!) for 80%, or $250. They told me however that I can contact the company they have hired for the day-to-day activities (or some such nonsense- anyways, they are the company that keeps calling us!) and they may be able to provide a better deal.
I am quite honestly totally lost. I do know that the last time I was called I got upset (I said something to the effect, "I recognize that you are not a native speaker, but I would expect you can understand me!") and was told that they would not offer me a settlement. However, that may have been out of anger.
So what on earth do I do now? Threaten court? Pay 80%? Honestly, I want this cleared up, but I also don't want to throw money out the window unnecessarily.
Thanks in advance for any help...
honeymay98
Greedy Member
posted: Nov. 29, 2007 @ 11:46a
One of my favorites...
btownballer said: I am in college and last semester I took personal finance. The Prof. told us we should open up Roth IRAs asap. So sometime last week I decided I would finally do that. So I am cruising around the internet but every place has 1000 dollar minimums. Finally I get to etrade and they don't have a minimum. So I sign up for a Roth IRA online and deposit 100 dollars of my hard earned money. Then when I try to invest it the next day, everything has minimums expect individual stocks. The stocks have a 13 dollar fee to buy/sell. So at this point I am kinda pissed and I am starting to think I would have been better off putting the money in my savings account. Then I stumble upon something that etrade will let me buy with no fees. Being the impulsive person I am, I decide sweet lets buy a bunch. I have no clue what it is but its scaring the crap out of me. Here is a link to what I have invested in: help me. So now my account says Net Account Value: $44.28. Cash Call: -$829.46. Total Market Value of Securities: $873.74. And then at the bottom, Cash Holds: $100. I assume the $100 being held is my deposit and that I invested money that I don't exactly have??? If this is true then I have made $44.28 I am guessing. Anyone know what I have done or what I have invested in?
Someone want to find the feces house thread with pictures?
urbanmonkey
Member
posted: Nov. 29, 2007 @ 12:13p
Colecovision said: I wish the "I need to BK, can I still $5K worth of furniture before I do it so my kids don't have to look at an old table and couch" thread hadn't been deleted.
That one really made me laugh. I wondered what happened to that thread.
analytic168 said: Can someone clarify what's the best way to handle a direct deposit -> MMF transfer so that it starts earning interest as soon as it's deposited? Just like it would if I were direct depositing into a high-yield savings account. Kanosh said: Uh, why don't you just set up the direct deposit to go to your money market account?
brianbrianbrian said: why don't you just set up the direct deposit to go to your money market account?
g10ny said: don't you just set up the direct deposit to go to your money market account?
PorStaker said: I don't know how people usually handle it, but if it were me, I would set up the DD to go straight to my money market account.
DMDiller said: you just set up the direct deposit to go to your money market account?
mrbudman said: why don't you just set up the direct deposit to go to your money market account?
zoop76 said: you could have the direct deposit go right into the MMA
captainwho said: Why don't you set the direct deposit to go directly into your money market account? I'm surprised nobody mentioned this.
link bofafuctme said: BofA didnt even give me a chance to reach for the bottle of lube before reaming my bunghole. I can afford a high priced attorney to sue their balls off
Do you need some teepee for your bunghole?
MDanbom
Member
posted: Nov. 29, 2007 @ 4:26p
I was surprised to find only one formerkeo quote in this thread. Here's another
formerkeo said: After the shock of the recent credit/mortgage crises, I wonder how investment firms handled their losses? Is this the end of a finance/capitalism world? Are we going back to farming? Looks like there are alot of casualties, the market will soon be dominated by big players. I postulate big banks will dominate mortgages, which is just long term investments. That leave short term loan or credit cards for smaller banks. Will AOR cease to exist with the addendum of fees and shorter term of repayments? After all the bread and butter of banks are to make investments of depositories. How is that different from us FWs? hmmmmmmm? You rang, master? Gtg. hehehe.
Anyone remember SWIM (Someone Who Isn't Me) from "Advice for an AOR that went terribly terribly wrong?"
ArbolLoco
Tired Member
posted: Nov. 29, 2007 @ 5:58p
I tried to make formerkeo fake mult accounts... presentkeo and futurekeo... but I always got bored at the point where I started making fake email addresses for registration.
jmz668
Senior Member - 1K
posted: Nov. 29, 2007 @ 6:53p
ArbolLoco said: most of my best comments were deleted... Hah! Any idea if those are tracked and a tally kept?
Marquess
Cranky Member
posted: Nov. 29, 2007 @ 8:20p
Technologist said: I can't believe no one posted this one yet.... Maybe because it is archived....
NEGATIVE EQUITY ABANDONED HOUSE---COUNTY AFTER ME HELP!!!
simmer said: Hi all anyone who can help with ideas may do so---I am a cosigner on a promissary note on a house that I signed for my mother in 98 in Northcentral Wisconsin---I lived there at the time---I moved out in March 99.. Now I live in the Suburbs of Chicago 300 miles away---My mother defualted in August 2004---Payments are $250.62 a month which includes property taxes at an 8.9 percent interest rate---My mom owned over 30 cats an when she defualted, the loan officer went looking for her at the house, saw all the cats and called the department of health and cats were taken away and she was charged criminally---So she went in hiding and abandoned the property which the loan officer searched my credit report and gave me a nice awakening that I am just as responsible as her for the property---I made the 750 dollar back payments and have been current since Aug of 2004 because the damage the cats have done to the house, I know there is no selling it or renting it to anybody!!
It was the worst mistake of my life to sign on this property but I had no choice at the time, we had nowhere to go---I have 2 brothers and they want nothing to do with it...My older brother says it is uninhabitable that after he left the cats made the house their litter box---I haven't talked to my mom in a year and a half because of this---She is on disablity so if we went to foreclosure and are sued, obviously I take the whole brunt of the defaulted charge so that is why I am paying it to avoid what foreclosure would do to my credit---The loan expires 2018---I really dont want to be paying for another 12 years but I have a much more immediate problem---I looked at my credit report yesterday and there is an inquiry from Taylor County Housing where this house is located on 3/28/06 purpose is tenant screening---Since I haven't lived there in 7 years I know its about the house---I'm thinking cause nooone is cutting the grass or any upkeep of the place they may be contacting me to fine me or something cause they can't get a hold of my mother
I tried going online and filling out those ugly house things where people would buy your property and they all come back that there is no market or agents up there---1 did contact me in Oct 2005 and actually checked out the property and said he took a couple steps inside and couldn't take the smell of cat urine and he said he would need boots cause excrement was all over the place---Now I lived there for 4 years and it was not like this when I lived there---all this spiraled out of control when I left---He told me that there was no value and he couldn't think that anyone would want it in that condition
I figured I should take the lead and call the housing authority and ask why they placed the inquiry on my report but fear the bad news---I'm fearing I'm gonna get slammed with fines and charges for the abandoned property by mail if I just sit and wait around---I'm not a handyman so I can't just fix up the place while I have friends that are, we are in Illinois 300 miles away---To put it this way, I have no contacts or help from anyone in that state including my mother and brothers I through with their no monetary or physical help
So now what? I know people sign for their family members for houses and things cross country so there has to be someone who knows of a similar situation who may be of help---I've looked at it from every angle and have deemed there is no way of the hook except death----I called a property lawyer and he told me let them foreclose but thats easy for him to say its not his life and credit ruined---I'm sure there is no value in the house so I'll be stuck with an accelerated $19,000 note---Thank you all---House was bought at $32,000---now owed little over 19K remains---And no I don't have the funds to pay more than the mininum payment each month besides why would I want to?
JoeFriday said: kamalktk said: JoeFriday said: It is a historical fact that the GDP went from negative 13% to positive 13% after the top rate was raised to 94%. The rate was made 94% in 1944. He swings and misses !
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