Was 45k really a life ending amount of debt?He says he lost everything including his son's college fund... how fucking illiquid was this guy?
he is American, they don't have savings, they just finance and mortgage everything and live as slaves to banks.
>>220898134He had severe gambling problems so it's likely he didn't have much to begin with.Plus don't forget it isn't just the 45k, it's the insane interest they tack on when you can't pay immediately.
>>220898134This was before Bidenflation
He was a gambling addict. He lost all the savings including the college fund before Tony invited him to the game, and he can't be trusted to maintain a payment plan.
>>220898134Its an inescapable debt hed have for life
Okay so hear me out.Let's say you owe 45k and that debt has really overwhelming interest that makes it in danger of ballooning out of control. Like a debt to a mobster or some shifty bank/business.Why not loan elsewhere (from a bank let's say) 45k with a much better interest rate, then use that to pay off the first debtNow you basically cleared the "bad debt", but you have to pay off a more manageable one that you can actually handle in payments that make sense.
>>220898434He probably couldn't get the money from a real bank in the first place.
In this economy? Yes negative 45k basically means you're fucked
>>220898134He owned a failing sporting goods store. He even mentioned during the poker game how he was being low balled by the bigger chains.
>>220898484He had a house. Kids. You can work something out
they should have "terminated" his credit (only 90s kids get this joke)
hanging out with those obese goombas playing cards and losing money seems like a shit way to spend your time, but I was never into gambling
>>220898434>yes hello mr baumstein>i owe some mobster $45k and he'll kill me if i don't pay it>you see i have a gambling addiction that got out of control and so i borrowed money from him and can't possibly pay it back>so anyway i was hoping you could lend me the $45k plus a little extra so i can cover the interest payments to the mobster>then i'd be in a more manageable debt and i promise not to gamble it all away hahaha
>>220898906Ironic retardation is just retardation.
>>220898906Do you frequently vocalize every thought when interacting with people?
>>220898807shut up, homo
Why is usury legal in the first place?
>>220898906Ignore them anon I enjoyed your greentext
I was a gambling online addict and yeah, shit gets pretty fucked up when you lose money pretty fast and you get limited with credit and physical money... Back then I pwned all my things (even my computer from work) and I barely met payments but like a true moron I kept gambling so I could make it big. I was lucky enough to keep my job somehow but things like this are pretty hard to grasp if you're not a desperate idiot like I was.
>>220898134He has to pay interest every week and if he cant the difference gets added to the principle. So for example at two percent thats 900 dollars every week. And miss one payment and its 918 and so on. Thats the compound effect on steroids and working against you.
>>220898434I once got $25K loan from my bank. They asked me what it was for, I said home improvement, and that was it.
>>220898434>>220898755>>220899181How fucking stupid or naive can you be to not understand that when you have a bad credit score NOBODY will legally lend you money.
>>220899270That's not how it works in reality.In reality they want loans taken out precisely by people that can't pay them off.A person that pays off the loan in an orderly manner is useless to them.Someone that fucks up with the loan and payments they can squeeze and/or use write-offs to game the situation further.
>>220899270How do you know he had a bad credit score?
>>220899319Nobody with a good score would be dumb enough to ask fucking mobsters for money, retard.
>>220899665So you don't know, you're just guessing.
>>220899665Wasn't it just he joined them to gamble, ran out of cash and asked to be fronted so he could keep playing? That's more being a gambler than being stupid.
>>220899714Tell me 3 things that clearly imply he had a good credit score, retard.
should he have just killed them? he was close to blowing his brains out anyway
>>220899768>owned a business>owned a house>had a lot of assets Any other questions?
>>220899768I will if you promise to stop insulting me.
>>220899808>everyone who owned a house in 1997 had a good credit score
>>220899854You asked for three things. They all contribute rather than stand alone. Next time ask for one thing only, dipshit.
Bros, how do I make compound interest, the god of the jews, work for me?
>>220900029Stocks
>>220899316not reallyif somebody defaults on a loan the bank very rarely gets their money back even after repossessiongiving out too many loans to people that cant repay them is how banks go insolvent, and after 2008 the government really doesn't want that to happenits like a casino - they don't NEED to rig the games because they make so much money with minimal risk playing by the rules
>>220898134he couldnt afford to pay Richie 8k back and they were charging 2% a week
>>220901926They write off any loses so they still win, even if they lose.There's no downside to it. Health insurance works on the same type of scam.They overbill and the people that can't pay they don't go after, they just write it off as a loss. The higher they initially bill the more writeoff they can claim.
