I am going to take the Bar, and of course, I have some outstanding debt that I need to get rid of. I was wondering if the fatwallet financial gurus had any advice on this. When I called the collection companies, to find out about a settlement, (there were a couple) instead of talking about amounts and plans, they were chastising and talking about the morality of owing someone money. I didn't call them for a sermon, I want to settle this stuff. Is there any way to do so? What is the best way to approach these people?
Any other suggestions? Any ideas?
Thanks. I hear great things about fatwallet, I am curious what you guys have to say.
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desparatelawstudent said:I am going to take the Bar, and of course, I have some outstanding debt that I need to get rid of. I was wondering if the fatwallet financial gurus had any advice on this. When I called the collection companies, to find out about a settlement, (there were a couple) instead of talking about amounts and plans, they were chastising and talking about the morality of owing someone money. I didn't call them for a sermon, I want to settle this stuff. Is there any way to do so? What is the best way to approach these people?
Any other suggestions? Any ideas?
Thanks. I hear great things about fatwallet, I am curious what you guys have to say.
What kind of person are you that you would go take out a bunch of money and not repay it. That is extremely immoral of you and I would expect better from a future lawyer. The poor little debt collection companies are trying to make a living and people like you would rather see them and all the people they employ out of business. It is dishonest people like yourself that have caused the downfall of the American economy. Pay your bills, deadbeat!
Message edited by: JorgeBurrito on 2009-11-02 16:13:07 CST
jcole21 said:Invent a time machine and then spend less.
That would, undoubtedly, be expensive. If he did what you suggested, after he returned to the past, he wouldn't be able to afford to invent a time machine, then he couldn't have gone back to correct his mistake, then he couldn't have....
The sad part about this thread is if the OP had actually constructed his original post like what I would expect out of a lawyer i.e. knowing his audience, doing proper research (read the forum for a few minutes first), phrasing questions and statements in such a way to maximize your point, provide relevant details to your case, exc. he would of gotten a lot of useful information and help from this thread. I weep for the OPs chance of passing the bar (and not because of the debt).
JorgeBurrito said:What kind of person are you that you would go take out a bunch of money and not repay it. That is extremely immoral of you and I would expect better from a future lawyer. The poor little debt collection companies are trying to make a living and people like you would rather see them and all the people they employ out of business. It is dishonest people like yourself that have caused the downfall of the American economy. Pay your bills, deadbeat!
He doesn't have a moral obligation to the debt collectors so much as he does to the company that originally loaned him the money. The debt collectors took on the debts for a fraction of what they are worth knowing damn well that they aren't going to get all of it back (and arguably the lender did the same thing). The original lender is the company that he screwed over by making them resell the debt for a fraction of what it was worth, rather than the collection agency.
If OP actually went to law school, then he would have said something a bit more intelligent than "HELP ME DELETE MY DEBT, I HATE THE DEBT COLLECTORS!" OP is a troll, plain and simple. There's no way he could have gotten through law school, and probably not even into law school. He lacks the reasoning skills that are necessary for such an undertaking, and you can tell this by his post.
desparatelawstudent said:I am going to take the Bar, and of course, I have some outstanding debt that I need to get rid of. I was wondering if the fatwallet financial gurus had any advice on this. When I called the collection companies, to find out about a settlement, (there were a couple) instead of talking about amounts and plans, they were chastising and talking about the morality of owing someone money. I didn't call them for a sermon, I want to settle this stuff. Is there any way to do so? What is the best way to approach these people?
Any other suggestions? Any ideas?
Thanks. I hear great things about fatwallet, I am curious what you guys have to say.
Pay your f*cking debt, deadbeat. Don't you try to push your debt off into the taxpayer's lap.
and this is why you want to get a CONSUMER lawyer if you decide to get one. To the OP, quit being weak, dispute the debt and sue them. Are these collectors even licensed/bonded as appropriate? Can they document the debt? Read up on the FDCPA and sue them.
scottxmso said:JorgeBurrito said:What kind of person are you that you would go take out a bunch of money and not repay it. That is extremely immoral of you and I would expect better from a future lawyer. The poor little debt collection companies are trying to make a living and people like you would rather see them and all the people they employ out of business. It is dishonest people like yourself that have caused the downfall of the American economy. Pay your bills, deadbeat!
He doesn't have a moral obligation to the debt collectors so much as he does to the company that originally loaned him the money. The debt collectors took on the debts for a fraction of what they are worth knowing damn well that they aren't going to get all of it back (and arguably the lender did the same thing). The original lender is the company that he screwed over by making them resell the debt for a fraction of what it was worth, rather than the collection agency.
If OP actually went to law school, then he would have said something a bit more intelligent than "HELP ME DELETE MY DEBT, I HATE THE DEBT COLLECTORS!" OP is a troll, plain and simple. There's no way he could have gotten through law school, and probably not even into law school. He lacks the reasoning skills that are necessary for such an undertaking, and you can tell this by his post.
Don't write BS.
If you want to talk morality, then yes, morally he owes what he borrowed plus whatever interest he agreed to pay.
If you want to talk legality, then yes, the collection agency bought the entire face value of his debt, and is entitled to the full amount. The fact that they bought it for less than face value has no impact on the contract OP signed when he borrowed the money. He still owes what he borrowed + the interest he agreed to pay.
If he cannot pay, he can negotiate with his creditor for a settlement. If the creditor does not agree to settle for a lower amount, and OP doesn't have the money to repay the full debt he owes, he has to declare bankruptcy.
Don't misunderstand me; I am a kind and compassionate person. However, this is business, and OP clearly does not deserve any moral support. He is plainly trying to wriggle out of paying what he owes without taking advantage of the appropriate legal route already established for the purpose: bankruptcy.
Become a prostitute to make some quick money to pay off your debts. Then, when you get that Moral Character Determination letter, you can say "I had to do a lot of things I'm not proud of...but I'm not in debt!"
(Oddly enough, my idea is about as ethical as your plan to just skip out on your debt.)
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