Pages: 1 [2] :: one page |
|
Author |
Thread Statistics | Show CCP posts - 0 post(s) |
Kravick Drasani
|
Posted - 2009.10.31 20:24:00 -
[31]
Edited by: Kravick Drasani on 31/10/2009 20:26:26 Suggestions to solve this problem:
Military. They won't accept anyone with that kind of debt. Your debt has to be under a few thousand dollars before they accept you. In other words you have to be able to pay off your debt completely with the money you earn going through boot camp. You are, after all, being sent off with the possibility of dying. Can't collect on your debt if you're dead.
Get a job that pays tips. Pizza delivery, bartender, waiter. Tips have to be claimed on your taxes, but they don't have any way of knowing how much money you actually made in tips. Only claim a small amount and not the actual amount of money you've made on tips. This way 80% of his income isn't garnished. This of course depends entirely on how well people tip.
Ignore it. Just completely forget the debt is there. This will, however, limit him to only peasant jobs since your credit history is actually used to determine employment eligibility. His wages will still be heavily garnished and his tax returns taken from him but they can't take more than 20% of a pay check or so in wage garnishments. He will at least be able to live. My suggestion is to just keep the home phone unplugged and use a tracphone or some other such prepay cell phone plan and NEVER give that number to anyone that he doesn't explicitly trust. Other wise he will be constantly harassed until the end of time. Don't "own" anything. In other words the only thing this person would own would be a bed and the food in his refrigerator. Everything that he actually "owns" is kept at one of his friends house. This pretty much eliminates being able to own a car, however, since car titles can be tracked.
**** everything and sell drugs. Not the best option. Its probably one of the worst actually but they can't tax or garnish what you don't report and who in their right mind would report their income made from drugs? Your friend will most likely die after only 5 years of doing this but at least for those 5 years he will be able to feed himself.
Leave the country. He needs to change his name when he does this too so he can't be found.
Sue the parents. If it was his parents that cause a majority of this debt it should be their responsibility. While I'm probably not as close to my parents as your friend is to his, if they pulled a stunt like this on me you better believe I'm calling them out on that ****.
Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option.
Keep in mind that prison isn't something your friend has to worry about unless he deliberately goes against the ruling of a judge some how. What I mean is if your friend has the money but refuses to hand it over. Not being able to pay it back because you simply don't have the money isn't cause for imprisonment.
All in all your friend can pretty much expect to live on table scraps for the rest of his life. -
Originally by: Rilwar If you want to nag on warp speed, how about the question of "Why does my Crow manage to go 9.5AU/s for 2 seconds during a 9AU jump?"
|
Kravick Drasani
|
Posted - 2009.10.31 20:32:00 -
[32]
Originally by: Nebulous
Lastly I read somewhere not long ago that an american managed to keep his house without having to pay anymore of his mortgage off, he basically just higlighted in court the fact that the bank had not borrowed him the money, for they never legally had the money to borrow him in the first place.
Thats because it was a mortgage. My post does not apply to those kinds of loans. If its a student loan or a medical based debt you cannot get out of it unless the corporation/hospital drops it and they're never going to do that. They'll just sell the debt to a collection agency.
Collection agencies wouldn't still be in business here if they where doing was considered harassment. Trust me, its already been tried. -
Originally by: Rilwar If you want to nag on warp speed, how about the question of "Why does my Crow manage to go 9.5AU/s for 2 seconds during a 9AU jump?"
|
Emil Erlenmeyer
|
Posted - 2009.10.31 20:56:00 -
[33]
I'm sure the French Foreign Legion will take just about anyone able. Afaik they used to, not sure if that has changed. So, I guess that would be and option.
Originally by: Foodpimp They use a coffee filter, that explains everything you need to know really
|
MaxxOmega
Caldari Wrong Indeed
|
Posted - 2009.11.01 01:54:00 -
[34]
I have two trains of thought here:
tell your friend to barricade himself in an office building with a crapload of guns, screaming "they'll never take me alive"
or
get a different friend...
|
silly person
|
Posted - 2009.11.01 16:32:00 -
[35]
Edited by: silly person on 01/11/2009 16:33:00
Originally by: Kravick Drasani Edited by: Kravick Drasani on 31/10/2009 20:26:26 Suggestions to solve this problem:
Military. They won't accept anyone with that kind of debt. Your debt has to be under a few thousand dollars before they accept you. In other words you have to be able to pay off your debt completely with the money you earn going through boot camp. You are, after all, being sent off with the possibility of dying. Can't collect on your debt if you're dead.
Hmm? I've never heard that. Whose military are you talking about?
The US Army offers a $65k student loan repayment for a 6 year contract if i recall properly, so I would recommend at least talking to a recruiter.
|
Kravick Drasani
|
Posted - 2009.11.01 17:45:00 -
[36]
Originally by: silly person Edited by: silly person on 01/11/2009 16:33:00
Originally by: Kravick Drasani Edited by: Kravick Drasani on 31/10/2009 20:26:26 Suggestions to solve this problem:
Military. They won't accept anyone with that kind of debt. Your debt has to be under a few thousand dollars before they accept you. In other words you have to be able to pay off your debt completely with the money you earn going through boot camp. You are, after all, being sent off with the possibility of dying. Can't collect on your debt if you're dead.
Hmm? I've never heard that. Whose military are you talking about?
The US Army offers a $65k student loan repayment for a 6 year contract if i recall properly, so I would recommend at least talking to a recruiter.
I believe that only applies if you have already completed your education and only if the degree applies to something that the US Army directly benefits from like a medical degree or an engineering degree. -
Originally by: Rilwar If you want to nag on warp speed, how about the question of "Why does my Crow manage to go 9.5AU/s for 2 seconds during a 9AU jump?"
|
silly person
|
Posted - 2009.11.01 18:12:00 -
[37]
Originally by: Kravick Drasani I believe that only applies if you have already completed your education and only if the degree applies to something that the US Army directly benefits from like a medical degree or an engineering degree.
I don't think so, from when I was in service I can recall at least one person who was getting loans repaid for a degree in social work that was not completed. The only reason I remember that it wasn't completed was because the individual was trying to finish their degree so they could become a commissioned officer. Maybe they weren't getting the full amount.
I wouldn't be surprised if the rules have changed, given the current economic situation and how that has impacted army recruitment. I really haven't kept up on these things. But visiting an army recruiter is free, the OP's friend doesn't have anything to lose from talking to one. |
Bumblefck
Kerensky Initiatives Beer and Smoke Federation
|
Posted - 2009.11.01 22:11:00 -
[38]
Originally by: Arik VanClaw Hey all, hoping someone can give me some advice. Let's say I have this friend mmkayy.
It's you isn't it.
? |
Akiba Penrose
|
Posted - 2009.11.01 23:25:00 -
[39]
Originally by: Kravick Drasani Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option.
WTF?
Are you serious?
|
Marcus Druallis
Quantum Industries RAZOR Alliance
|
Posted - 2009.11.01 23:50:00 -
[40]
Originally by: Nebulous Edited by: Nebulous on 31/10/2009 12:01:08 (this is based on UK law) The key to debt/loan problems is to never under any circumstance pay them back, this purely because they never borrowed you the money in the first place, effectively when you are given a loan it is a "SCAM", they basically give you your own money in advance (banks have got no money, for it is money made from debt, infact all money is debt).
Banks: They take deposits. These are held in trust for the depositor. They must, by law, always be prepared to return any and all deposits back to depositors on demand. That's the LAW. They would not be able to do that if they were ever to lend out any money on deposit to anyone requesting a loan. They cannot, therefore, lend or invest anything entrusted to them. So the question is: Where do they get the money from, in order to loan it to you?
Ultimately when you stop paying back a loan the bank will pass it onto a "collection agency", this actually works in your favour, these people under no circumstance can ever take anything from you, even if they use bayliffs they can not force their way into your house, if they turn up with the police then the police are only there to see that a breach of the peace is not committed. (lastly a lot of people watch to many films and think that collection agencies send thugs to your house to beat you up, this is not true, this only happens if you borrow from a loan shark).
Before any attempt to physically collect on a debt you will first recieve letters from the collection agency threatening to take you to court, the first mistake they make is by sending you a letter to your "legal fiction" name, this is noticable by when they put your name in block capital letters, if you wish you can put "return to sender, no legal fictions at this address", if you chose to reply to the letter you need to do the following, posted on the next post.
You. Are ****ing stupid. --
|
|
Kravick Drasani
|
Posted - 2009.11.01 23:56:00 -
[41]
Originally by: Akiba Penrose
Originally by: Kravick Drasani Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option.
WTF?
Are you serious?
This is America. If bankruptcy doesn't (or can't in this situation) work you're completely ****ed. Our legal system is set up to completely and utterly **** peoples lives. Corporations pretty much have the power to do everything short of executing people. Regardless of what people think about what certain laws say they can and can't do corporations have more money and lawyers than people do. They can and do find loopholes around these laws and take what they want.
They can't take from you if you're dead. -
Originally by: Rilwar If you want to nag on warp speed, how about the question of "Why does my Crow manage to go 9.5AU/s for 2 seconds during a 9AU jump?"
|
Marcus Druallis
Quantum Industries RAZOR Alliance
|
Posted - 2009.11.01 23:59:00 -
[42]
Originally by: Kravick Drasani
Originally by: Akiba Penrose
Originally by: Kravick Drasani Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option.
WTF?
Are you serious?
This is America. If bankruptcy doesn't (or can't in this situation) work you're completely ****ed. Our legal system is set up to completely and utterly **** peoples lives. Corporations pretty much have the power to do everything short of executing people. Regardless of what people think about what certain laws say they can and can't do corporations have more money and lawyers than people do. They can and do find loopholes around these laws and take what they want.
They can't take from you if you're dead.
Jesus get out of your mom's basement. It's ok corporations aren't going to "bomb" you like they "bombed" the twin towers. --
|
Bestofworst
Gallente
|
Posted - 2009.11.02 00:06:00 -
[43]
That's only cause the twin towers didn't owe them money ---- My Music
Anything I say is only what I think. If you have a problem with me, take it up with me. |
Kravick Drasani
|
Posted - 2009.11.02 00:17:00 -
[44]
Edited by: Kravick Drasani on 02/11/2009 00:19:35
Originally by: Marcus Druallis
Jesus get out of your mom's basement. It's ok corporations aren't going to "bomb" you like they "bombed" the twin towers.
In case you didn't see it before let me make it more clear for you. I know reading can be difficult for some people.
Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option. -
Originally by: Rilwar If you want to nag on warp speed, how about the question of "Why does my Crow manage to go 9.5AU/s for 2 seconds during a 9AU jump?"
|
Intense Thinker
Minmatar
|
Posted - 2009.11.02 00:37:00 -
[45]
Originally by: Kravick Drasani Edited by: Kravick Drasani on 02/11/2009 00:19:35
Originally by: Marcus Druallis
Jesus get out of your mom's basement. It's ok corporations aren't going to "bomb" you like they "bombed" the twin towers.
In case you didn't see it before let me make it more clear for you. I know reading can be difficult for some people.
Suicide. Not the best option, in fact I would urge your friend not to pick this option. If nothing else works however, its your only option.
and if you choose to jump, make sure you do a flip
Originally by: Hamshoe
Don't **** down my back and tell me it's raining.
|
Nebulous
Minmatar Salvage Junkies
|
Posted - 2009.11.02 06:06:00 -
[46]
Originally by: Marcus Druallis
You. Are ****ing stupid.
I wish I could reply to all posts this way, just call people stupid with no explanation as to why, if you want to be clever about it then pick my post apart by highlighting the flaws with what I have said, the truth is you can't, for you lack any understanding of your own rights..... and for that I feel sorry for you.
Please be constructive
------------------------------------------------
|
Arik VanClaw
Helljumpers
|
Posted - 2009.11.02 18:16:00 -
[47]
Appreciate the replies so far, even the less compassionate ones, they make me laugh.
Quick update is that the loans had been in default, but the company that holds the loan has a loan rehabilitation program that moves them out of default. Interestingly enough the details provided by the company only confirms these loans as private loans backed by a private guarantor (so they still can't be dismissed in bankruptcy). They offer income based repayment plans and I'm hoping that the loan company will work with my friend to allow him a more manageable payment. If not I think the only remaining option (not counting, moving, cash only existence or death) is getting an attorney invovled.
Anyone know what attorney fees average for this kind of help? Anyone think they'll even be able to affect anything?
|
Slade Trillgon
Siorai Iontach
|
Posted - 2009.11.02 21:44:00 -
[48]
Unfortunately my only experiance with lawyers has been with a criminal attorney
That lawyer I got through a recommendation from a bail bondsman that worked at the gym I worked at. It so happened that his sponsor in the Masons was a lawyer. To get that guy on retainer cost me a discounted $500 and then some additional costs.
Hopefully you can find something of assistance in these follwoing pages.
Link 1
Federal Student Aid Ombudsman
The National Association of Consumer Advocates
Federal Trade Commission
Slade
Originally by: Niccolado Starwalker
Please go sit in the corner, and dont forget to don the shame-on-you-hat!
≡v≡ |
Master Gotama
|
Posted - 2009.11.02 22:00:00 -
[49]
Originally by: Arik VanClaw Interestingly enough the details provided by the company only confirms these loans as private loans backed by a private guarantor
dude, you need to get your story straight. if they are private loans, they are NOT backed by the US gov and your friend has no real problems that a bk can't solve. The only way your friend is screwed is if they are Stafford loans (i.e. gov backed loans). Also, there are federal maximums on what a student can borrow; for an undergrad it maxes out at $10,500 a year in federally backed student loan debt. There is no way they are going to rack up $80K in debt and not graduate as you indicate in the initial post. either way, things aren't as bad as you make them out. i'm beginning to wonder if you're just in this for the e-drama.
Federal Student Loan Site
|
Arik VanClaw
Helljumpers
|
Posted - 2009.11.02 22:44:00 -
[50]
Originally by: Master Gotama
Originally by: Arik VanClaw Interestingly enough the details provided by the company only confirms these loans as private loans backed by a private guarantor
dude, you need to get your story straight. if they are private loans, they are NOT backed by the US gov and your friend has no real problems that a bk can't solve. The only way your friend is screwed is if they are Stafford loans (i.e. gov backed loans). Also, there are federal maximums on what a student can borrow; for an undergrad it maxes out at $10,500 a year in federally backed student loan debt. There is no way they are going to rack up $80K in debt and not graduate as you indicate in the initial post. either way, things aren't as bad as you make them out. i'm beginning to wonder if you're just in this for the e-drama.
Federal Student Loan Site
Private ones stick with you too, as they are backed by a third party guarantor, and laws passed in 2005 took away bankrupty protections for private loans. In this case, the loans are guaranteed by TERI see this link TERI. Specifically this part:
Bankruptcy The bankruptcy laws provide that, unlike other commercial debt, a loan guaranteed by TERI can not be discharged or forgiven in a bankruptcy proceeding unless the borrower proves that repayment of the loan will cause him/her undue hardship.
And undue hard ship is defined as a disability, not a low paying job.
Also, the caps on private loans are higher, by 5k a semester I believe. But the real issue is when a loan defaults many fees and interest charges are accrued on the total balance, so while the original balance may have been only 30-40k, fees, late penalties, interest accrual etc.. brings it to where it is now.
|
|
Master Gotama
|
Posted - 2009.11.02 23:13:00 -
[51]
Interestingly, TERI is in bankruptcy proceedings right now. There is some discussion among several forums as to whether people can contest their loans, and whether it would be to the company's benefit in a bankruptcy situation to actually discharge them. I would suggest seeking counsel from an attorney on this one.
|
Taedrin
Gallente Tactical Command Sector
|
Posted - 2009.11.03 20:51:00 -
[52]
READ THE TERMS AND CONDITIONS OF YOUR STUDENT LOANS. Yes, I know it's written in legalese and it'll take you a few hours to digest. But you may find some respite and important information in there. For example, while I was applying for a subsidized loan, I across this little tidbit:
Quote: 21. Discharge (having your loan forgiven). We will discharge (forgive) your loan if: + You die. The Direct Loan Servicing Center must receive acceptable documentation of your death, as defined in the Act. + Your loan is discharged in bankruptcy. However, federal student loans are not automatically discharged if you file for bankruptcy. In order to have your loan discharged in bankruptcy, you must prove to the bankruptcy court that repaying the loan would cause undue hardship. + You become totally and permanently disabled (as defined in the Act) and meet certain other requirements. In certain cases, we may also discharge all or a portion of your loan if: + You could not complete a program of study because the school closed; + Your loan eligibility was falsely certified by the school; + A loan in your name was falsely certified as a result of a crime of identity theft; or + The school did not pay a refund of your loan money that it was required to pay under federal regulations.
I bolded something important. I don't know what loans you took out, but look over the terms. ---------- There is always a choice. The choice might not be easy, nor simple, nor the options be what you desire - but, nevertheless, the choice is there to be made. |
Ukucia
Gallente The Scope
|
Posted - 2009.11.04 05:57:00 -
[53]
Edited by: Ukucia on 04/11/2009 06:00:01 1) Talk to a lawyer. Not a message board. You are guaranteed to get bad answers here.
2) No really. Lawyer. Now.
3) Many loans have provisions that stop payments if you go back to school. Check yours, and if they do, it's time to get yourself into the cheapest in-state school that qualifies. You'll stop the payments, and getting that degree may help with the income.
4) They have these people trained in the law. They call them lawyers. You need to talk to one to find out what your options are.
5) TALK TO A LAWYER.
The initial consultation will probably run about $100-200. Then you'll at least know what your options really are. Let's face it, the people you've been talking to so far (debt collectors) don't have your interests in mind. So they're gonna lie about your options so that you are herded into one that is best for them.
|
Slade Trillgon
Siorai Iontach
|
Posted - 2009.11.04 12:05:00 -
[54]
Originally by: Ukucia Edited by: Ukucia on 04/11/2009 06:00:01 1) Talk to a lawyer. Not a message board. You are guaranteed to get bad answers here.
Sure there is absolutely no information in this thread that is worth while Not that he could not have found that info with a simple GOOGLE search, but that is not the point. The point is what you said has been mentioned and you posting here with your condescending comment was pompus and unnecessary
On a side note, the rolls eyes picture, in my line of faces, has its eyes stuck cross eyed It is pretty funny. I hope some of you all have seen this
Slade
Originally by: Niccolado Starwalker
Please go sit in the corner, and dont forget to don the shame-on-you-hat!
≡v≡ |
Makarrov
|
Posted - 2009.11.04 13:54:00 -
[55]
I was in default for students loans an I still owe on them but I had no money as your friend. What I did was talk to the agency who "owns" the loans and agreed to pay a small amount each month. Once you pay on time for 9months I think it was you can get a letter saying you are in good standings on your loans. Now once I got this letter I went an signed up for school again an I'm currently enrolled. Most student loans don't go on your credit so you can get more. Yes this is more money but hear me out. Once you are enrolled you no longer have to pay on your current loans. Now saty in school and get your degree. Once you are done if you cant pay for them right away o well they can't take your degree away from you so you can get a better job. O yeah the school I went to said I owed them money but it was a private loan so I could still get federal loans. Also look into the america's opportunity act. Hope this helps.
|
|
|
|
Pages: 1 [2] :: one page |
First page | Previous page | Next page | Last page |