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bcohen
Senior Member
Last Activity: 11-28-2021, 02:32 AM
Joined: 06-12-2010
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  • bcohen
    replied to Making a living from betting
    The idea of gambling with actual money is a foreign concept to me, and something I cannot for the life of me understand. It makes zero sense to me to wager actual money on anything under any circumstances. Whatever fun might exist in playing card games, games of chance, betting on sporting events,...
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  • I don't use these type of cards, and never have, however they do offer some level of utility to people without a bank account who need the ability to shop online or use pay-at-the-pump for fuel. Other than that, you are right--it's a waste of money....
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  • As the saying goes, one hand washes the other. In other words, the reason why education costs are so high is because students are able to borrow the money to attend. If the supply of money dries up, because student loans become difficult to qualify for, then suddenly colleges and universities will...
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  • Remember that smart people file for bankruptcy protection when their circumstances have improved, and they have something to protect. A person who was working a low-wage job, and then fell behind on their rent and other debts due to the pandemic is unlikely to benefit from declaring bankruptcy at this...
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  • Driving for these services is a terrible deal for the so-called "independent contractor" driver, hence why these companies are always trying to recruit new suckers--er, I mean associates. First of all, the rates paid by these companies often results in earnings which are close to or less...
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  • Not exactly. The lender has a lien on the vehicle, but you are still the registered owner. They don't really want the car, especially if it's in poor condition. More importantly, Mariner (and other storefront lenders like it) does not own the building and land--they are leasing the space. The landlord...
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  • Mariner Finance...I remember receiving "pre-qualified" loan offers in the mail from these bottom-feeders after I declared bankruptcy. What was interesting about their loan offers was that they sent a check, which functioned as the promissory note for their usurious loan. The check was marked...
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  • I assume the "lender" you are referring to is a payday/title loan, not the loan used to purchase this vehicle. I would say that a 2008 Corolla in good condition with 125,000 miles is worth about $6-9k dealer retail, so even if it was in perfect condition, it does not make sense to repay this...
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  • You don't say what is wrong with the car, what kind of car this is, or how much the repairs will cost. Assuming for the sake of argument that the car is completely worthless, value is less than $2k in good condition, has a blown engine or transmission, you can certainly stop paying but the odds are...
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  • bcohen
    replied to Can I File Chapter 7?
    And the answer would, of course, be to do whatever will cost the least amount of money. Declare bankruptcy to get rid of a $2k debt? Probably not a good idea. Declare bankruptcy to get rid of a $5k debt? Still not a good idea, unless the debt is an extreme hardship. Declare bankruptcy to get rid...
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  • bcohen
    replied to flexshopper return issues
    I don't understand your problem. If you declare bankruptcy, you reject the lease(s) on your Schedule G and let the lessor worry about collecting their property. You are only required to make the items available for them, i.e. to not destroy or dispose of them. It is up to the lessor to worry about...
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  • bcohen
    replied to dropping the bomb
    Some creditors will do this, especially if you own a home or vehicle(s) which are worth enough to bother placing liens upon. I do not think a payday lender would attempt such a thing, because these type of businesses operate on shaky legal ground as it is. However, you have nothing to gain by telling...
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  • This reads to me like you use PayPal to buy stuff online, and fund each purchase with money transferred from your linked bank account. If this is correct, then there is no money kept in your PayPal account, which means the PayPal account is not an asset or debt, and does not need to be mentioned in...
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  • Huh? The "best move" is to do nothing at this time, and DO NOT DECLARE BANKRUPTCY until you are gainfully employed, and have a stable housing arrangement. A month-to-month tenancy is not a stable housing arrangement--especially when you are behind on the rent. Frankly, I don't understand...
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  • I agree that you should not declare bankruptcy until all of the following are true:

    1) You are gainfully employed and able to live on your current income without incurring debt
    2) You have found somewhere else to live
    3) You have vacated the rental where you owe back rent...
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  • I would pay for the certified mail, return receipt requested. I would send a letter CMRR together with a photocopy of the discharge order. This puts the creditor on notice, and allows you to pursue damages if they continue to send dunning letters, make collections calls, or place anything negative...
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  • Out of all the reasons mentioned, #3 is the only valid concern. The rest are a bunch of bullplop. It goes without saying that one should avoid declaring bankruptcy (unless facing some imminent crisis such as repossession, eviction, or garnishment) until they are gainfully employed and able to make...
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  • Just to be clear, it isn't the size of the debt which leads a creditor to challenge the debtor's right to discharge their debt--it's whether or not the creditor can make a clear-cut case for abuse. This typically means that the debtor lied on their application and had no realistic chance of repaying...
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  • During normal times, you might have faced an AP, however due to the virus pandemic and the large number of people who suddenly lost their jobs, I think you will "skate by". Instead of assuming fraud, the lender will assume that you took out the loan with intent to repay it, but due to sudden...
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  • I do not believe that student loan forgiveness by executive order is a good idea, and it is likely unconstitutional for the President to even attempt such a thing. I also do not believe that blanket forgiveness of X amount of dollars per borrower--supposedly in the name of "racial equity"--is...
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