Many of the best finance threads get deleted/edited out. This thread is to serve as a centralized place for preserving these all time classics.

Its quite a lot of work to preserve every post from within a thread, so im leaving it up to you guys to handle it.

Many FW Members said:

Use the darn search function!

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

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%.

Please advise.
From this thread

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

here

I think KingSonic belongs in the Hall of Fame on this thread. Some of his handywork has already been quoted above, but here's another classic:

Damn banks!

This thread will be incomplete until someone finds the "rape the markets" quote.

BOA is Evil!

" VerbalK said:

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."

Hi, I'm new here....