Is a credit union a pretty good idea? I've been selling things off and have this cash and want to put it somewhere it'll be safe... but I owe a pile of old debts here
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Depends on what type of debt it is. If you live in the US, and it's unsecured credit debt, than you can keep your money in a bank, credit union, whatever and they can't touch it. Unless the rules changed in the past couple years.
For other debts, if the rules changed, or you're just as paranoid as I am, don't keep it anywhere that requires your social security number, name, address, etc.. This includes credit unions. I would suggest using safety deposit boxes in TRUSTED family member's names, or spend a bit and buy yourself a nice fire proof, flood proof, safe for at home. Even bank accounts in family member's name work as well.(ICQ - 664784872) -
Buy gold,store it out of sight.Comment
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Quit drinking and get your life in order.
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I would agree with Gold Or any Precious metals that you can store ..Comment
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Set up properly, no one can touch your money if you take it out of the USA. Look into Cyprus or Lichtenstein.Comment
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Assets in banks are not safe in a bank account in the court's jurisdiction in the satisfaction of its judgment.
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Keeping your money in tangible items would be another solution. Gold probably won't come down anytime soon (but probably will correct eventually), and the same with silver and some other metals. Easy to resell and it's not cash that can be tracked and taken from you. If you're holding cash, you're actually losing money.
As Berry just said above, anything you have in your bank IS NOT SAFE.Comment
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Pay off your debts. You owe people money, not paying them is stealing.
Shocked people are giving you advice on how to whelch on a debt.Comment
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I'm not even sure they're all mine. Most are from my drinking days and I don't know why I would have been charging shit I had some money then... I think my cards all were stolen, and visas cards are SUPPOSED to be covered for that!!
Plus they all want thousands of dollars on 500 and 600 dollar debts. They're cracked in the head, I am dealing with parasitic collections firms, here. They buy the debt for three cents on the dollar, pump the amount up to sky high pie in the sky levels, and offer to settle for many times what you actually owe.
I'm trying to raise enough cash to hope I can stay somewhere and keep my old car running and you descend with the wisdom PAY YOUR DEBTS NOW well how the hell can I do that when I don't know where I am going to live?!
Of course I will satisfy my debts - I will settle them for something closer to the original amount, plus reasonable interest, ONCE I KNOW WHEN AND WERE I WILL LIVE AND EAT, and hope the IRS doesn't try to hit me with their ridiculous 1000% amounts being forgive as being "income"
You have no idea of how fucked up the system is here in the states
Calm down and stop pissing everyone off on the whole board. It's not good for business. I like you, but damn. Cool it if you really are here to try and do some business.
PS: On a PERSONAL LEVEL I owe absolutely NO ONE. On a PERSONAL LEVEL people OWE ME and I'll NEVER GET IT FROM MOST OF THEM. Maybe I owe some money to banks, I'm not even sure but I probably do... but I NEVER HAVE WELCHED on anything I owe to any individual.
Calm down and stop pissing everyone off on the whole board. It's not good for business. I like you, but damn. Cool it if you really are here to try and do some business.Last edited by MrMaxwell; 04-04-2011, 05:03 AM.Comment
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Exactly,
I'm supposed to make that my top concern
Paying off a debt some crooked money changing scum has already sold to even lower vultures .. when I'm trying to stay under a roof and eat
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It's called asset protection.
Doesn't matter what it's for, everyone should take the necessary steps to protect what is theirs. The world is unfair, so play accordingly.
A Judgment may very well be from an ex-wife or a frivolous lawsuit. Who knows? No one can take from you what they can not find. However, if it's just credit card debt from being irresponsible or simply falling behind, make a plan and pay them off, or wipe it out like corporations do. You won't be getting a bailout.Comment
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SleazyDream said it first, but I'm going to spell it correctly.... BANKRUPTCY.
If you're in over your head, start over. Otherwise you're going to be spinning your wheels for years trying to pay everyone off. If you fucked up, you fucked up. Wipe the slate, learn from your mistakes and start over. No shame in that. If corporations can do it, so can you. Use the system against them.Comment
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That's another good idea. Maybe I should just set up a corp and build its credit instead of worrying about my own..Comment
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Try not to be such a deadbeat. Maybe your assets shouldn't be protected.
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thats not really using the system against THEM its using the system against EVERYONE!
When anyone files Bankruptcy we all end up paying the bill for them in one way or another. If the CC Company does not get their 5k from them, they will hit all the other people with an extra 1/8% until they do. Then sadly that extra % stays as they are now making more.
Not exactly like that but you get the idea. It takes more than 1 person to get the companies to raise the % but the more people that start to think they can live this way, the worse it will get.PornGuy skype me pornguy_epic
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They can't get to your bank account without a court order and it is very hard to get one for debts lower than $25,000. So nobody tries.
If you owe the IRS or state taxes they can and will empty your bank account. In that case it is best to keep your cash in paxum, payoneer, etc.
Nobody can find your account. They don't send out notices to 6000 institutions hoping to find the one you are using. However, almost all checking accounts have some kind of perks and all banks try to get you to opening a savings acoount. Doing so means you now have income the bank with report to the state and IRS. That is how they find you.Comment
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lol i thought this was gonna be a play on that official prepaid thread hahaComment
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epassporte wallet is one option...
the other one is to send it to me for safe keeping
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I don't advise bankruptcy it unless you're really underwater, which it sounds like he is. And if that's the case, it's fair to use it. I've personally never had to but would if push came to shove. But that will never happen as I don't live beyond my means anymore. Made that mistake when I was younger and got buried, but was able to dig out of it. Now, if I can't buy it and own it on the spot, I don't deserve it. Keeps life simple that way.Comment
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It's very difficult to open a bank account without a Social Security number, and if you try to give them a fake one it's easy for them to spot it and report you under Homeland Security regs.
These days buying gold usually involves providing picture ID, though it depends on the type and the amount.
You can't legally hide your money if you declare bankruptcy, so don't even try. Otherwise you'll be in contempt, and could well serve time for fraud, in addition to forfeiting everything.
It's not true debt collectors don't try for amounts under $25K. Your debtor will sell your account to a factoring house for pennies on the dollar, and take the rest as a fat tax writeoff. The collection agency that bought your debt WILL go after you even if it's just a few hundred dollars. Even if you declare bankruptcy they can (and will) try to find assets you didn't list, and those are fair game.Comment
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Check to see if you have a service in your area like 24/7 Private Vaults.The Only Time When Success Comes Before Work Is In A Dictionary.
Did you ever notice: When you put the 2 words 'The' and 'IRS' together it spells 'Theirs.'Comment
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Offer a settlement amount as payment in full to satisfy the judgment if that is possible. Start at 25 or 30 cents on the dollar ...
If that is possible and they don't accept your offer ? tell them that you have an offer from an attorney to file for a bankruptcy.
Tell them that they will get little or nothing out of a bankruptcy settlement ...
So, what's it going to be?
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All I'm trying to do is keep a few hundred bucks safe somewhere hereComment
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note to self:
"dont do business with MrMaxwell, he will stiff you sooner or later""Obscenity is whatever gives the Judge an erection." -- Author UnknownComment
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Maybe if you're ever down, everyone who owes you will forget YOU and you'll be where I am.... You do realize that I've always paid people I owed and about 100 have NOT paid me, right?
YOU DO UNDERSTAND THAT if half of the idiots would PAY ME I'd be in GREAT SHAPE....
OR DO YOU?!!!Comment
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jesus christ eating a cracker
Of all of the people I've been generous with, helped out of bad situations and whatever else all of my life ... as soon as I'm not driving a god damned shiny Cadillac with a pocket full of cash I'm supposedly some horrible lowlife person
It's okay for everyone to forget they owe me, then they go collect welfare and then I'm the one who is so low
Shove it up your asshole palComment
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I had no idea they were so cheap!!Originally posted by MrBottomToothComment
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Originally posted by MrBottomTooth
That's an amazing idea
Hell that would be a good place to park cash if I needed to hide it some time, too.. I mean, like real money if I were making a lot in cash I could just have SDs all over the placeComment
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Keep your cash liquid... anyone with a judgment against you can levy your bank accounts. LEVY = Take your money. Keep that shit in your house.
SIG TOO BIGComment
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YeahOriginally posted by MrBottomTooth
Especially if you spread it out over several banks
I'm sure that in extreme cases the government could find out about and seize them all, though, right?Comment
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