Man pay's taxes in cash, and town can't even count it

twostrokenut

twostrokenut

Well-Known Member
No what you did was settle on the remaining balance going to the tax payer.....but I know you are already cool with that.
I say everyone do it too...bring on the bust baby.
 
UncleBuck

UncleBuck

Well-Known Member
echelon1k1 said:
You're still left with a shitty rating and all you've managed to prove is you couldn't handle your responsibility. Congrats way to honour your obligations.
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my credit rating is fine, so is my wife's, and we have tons of dollars behind.

and what don't you understand about the term "strategic" default? it was a planned decision made to deprive BoA of resources they would have otherwise had based ont heir misconduct as a company. in the time while i was defaulting on them, i paid off another card and opened a new line for emergencies with a third company.

go cry.

or befriend more white supremacists.
 
UncleBuck

UncleBuck

Well-Known Member
twostrokenut said:
No what you did was settle on the remaining balance going to the tax payer.....but I know you are already cool with that.
I say everyone do it too...bring on the bust baby.
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are you even aware that i had to pay taxes on the settled amount? taxpayers do not pay BoA for their loss on credit cards, silly.
 
C

ChesusRice

Well-Known Member
NEW YORK — Bank of America was found liable for fraud Wednesday for a program — dubbed "the Hustle" — that caused millions in losses to federally backed mortgage finance firms Fannie Mae and Freddie Mac amid fallout from the financial crisis.
The civil verdict by a Manhattan federal court jury similarly found the bank's Countrywide Financial unit found liable, and also determined that former Countrywide executive Rebecca Mairone committed fraud while overseeing the loan-origination program.
http://www.usatoday.com/story/money/business/2013/10/23/bank-of-america-countrywide-mortgage-fraud/3172797/
 
UncleBuck

UncleBuck

Well-Known Member
ginwilly said:
Is that what they did to you?
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did they need to? nope.

all they had to do to me was start charging me an annual fee, which gave me every right to shut down the account, at which point they magically stopped receiving my monthly payments in order to charge massive late fees. i had never missed a payment before over the course of years.

so i decided to just stop paying them. eventually they made settlement offers, which i waited out until they were ridiculously low.

sorry if that makes you sad.
 
redeyedfrog

redeyedfrog

Well-Known Member
Americans are so lucky, you guys can actually walk away from a debt and file for bankruptcy, here in australia they hunt you down like dogs, take you to court liquidate your assets and bar you from owning anything
for 5 years. I sometimes wish i could hand the keys to the bank. on the other hand we had no GFC here and our economy boomed while everyone else busted, Our banks operate on very strict standards and there arent any no-doc loans.
I degress but my point being if you take a loan you should be honour bound to pay it! whether you signed a shitty deal or not the onus is on the customer to understand what they sign up for e.g. read the fine print.
I would never be able to look my father in the eye if i defaulted on a promise made.
 
UncleBuck

UncleBuck

Well-Known Member
redeyedfrog said:
Americans are so lucky, you guys can actually walk away from a debt and file for bankruptcy, here in australia they hunt you down like dogs, take you to court liquidate your assets and bar you from owning anything
for 5 years. I sometimes wish i could hand the keys to the bank. on the other hand we had no GFC here and our economy boomed while everyone else busted, Our banks operate on very strict standards and there arent any no-doc loans.
I degress but my point being if you take a loan you should be honour bound to pay it! whether you signed a shitty deal or not the onus is on the customer to understand what they sign up for e.g. read the fine print.
I would never be able to look my father in the eye if i defaulted on a promise made.
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here the banks get the right to change the terms of the deal at any time and for any reason. sometimes their only reasoning is because they are assholes and it has nothing to do with what a customer has done.

ya gotta be able to separate business from non-business.

lots of my AZ friends got absolutely screwed at the housing bust and walked away from homes that they owed more than twice what they were worth on. it wasn't because they were bad people, i had loaned them all money (or more accuratley, fronted them weed) in the past and they always repaid.

the bank is not your friend, they are there to rip you for all they can nowadays.
 
twostrokenut

twostrokenut

Well-Known Member
UncleBuck said:
are you even aware that i had to pay taxes on the settled amount? taxpayers do not pay BoA for their loss on credit cards, silly.
Click to expand...

Thought you were talking about a home loan from BoA. But yes they do, on credit cards as well. If you were paid in federal reserve notes then defaulted, since BoA partakes in the federal reserve system, the math must balance, and the taxpayer gets the bill at the end of the day....although the bill only reflects the minimum interest payment, just like a credit card.
 
twostrokenut

twostrokenut

Well-Known Member
redeyedfrog said:
Americans are so lucky, you guys can actually walk away from a debt and file for bankruptcy, here in australia they hunt you down like dogs, take you to court liquidate your assets and bar you from owning anything
for 5 years. I sometimes wish i could hand the keys to the bank. on the other hand we had no GFC here and our economy boomed while everyone else busted, Our banks operate on very strict standards and there arent any no-doc loans.
I degress but my point being if you take a loan you should be honour bound to pay it! whether you signed a shitty deal or not the onus is on the customer to understand what they sign up for e.g. read the fine print.
I would never be able to look my father in the eye if i defaulted on a promise made.
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Technically it was the bank that broke the promise initially....you both agreed to collateral, yours was real and theirs was fake. They made it seem as if the loan comes from their bottom line like they got it out the vault and record a negative transaction and that is the extent of it....which is a lie....your dad would forgive you for being deceived.
 
UncleBuck

UncleBuck

Well-Known Member
twostrokenut said:
Thought you were talking about a home loan from BoA. But yes they do, on credit cards as well. If you were paid in federal reserve notes then defaulted, since BoA partakes in the federal reserve system, the math must balance, and the taxpayer gets the bill at the end of the day....although the bill only reflects the minimum interest payment, just like a credit card.
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well then thanks to me, you, my parents, and all the other taxpayers out there for picking up my couple thousand in debt which i accrued in college. most of it was for a car, some was for an electric bill once, and the rest was pizza funds.
 
redeyedfrog

redeyedfrog

Well-Known Member
lol well at least you got paid, I'm not blaming the folks but really the banks are at fault for signing folks that phone carriers wouldnt give a mobile phone to, so WTF????
What do they expect when they are signing real credit risks for 100k+ loans too.....
Pure greed! Not only did it put america in a severe financial crisis but the banks then labelled the credit portfolios as aaa+ and sold em unto the europeans.
Again pure greed and almost put the planet into a massive depression..Disgraceful
But a lot of people just walked away because they could and thats not right either...
 
twostrokenut

twostrokenut

Well-Known Member
UncleBuck said:
well then thanks to me, you, my parents, and all the other taxpayers out there for picking up my couple thousand in debt which i accrued in college. most of it was for a car, some was for an electric bill once, and the rest was pizza funds.
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Glad I could help....now don't make me regret it and kindly remove the litter boxes from your drying room.
 
echelon1k1

echelon1k1

New Member
UncleBuck said:
my credit rating is fine, so is my wife's, and we have tons of dollars behind.

and what don't you understand about the term "strategic" default? it was a planned decision made to deprive BoA of resources they would have otherwise had based ont heir misconduct as a company. in the time while i was defaulting on them, i paid off another card and opened a new line for emergencies with a third company.

go cry.

or befriend more white supremacists.
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you can put "strategic" in front of the word default all you want. Doesn't make it anything other than a default and you a pathetic bum. Keep mooching of 200kg chanice...
 
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