They say that if you give a friend $100K and never see him again that it was probably worth it. If he can't pay back the CC company then its safe to assume that he can't repay me either. Wonder how someone that financially irresponsible managed to accumulate a coin collection of significant worth.
NO - I would not as he obviously does not have his own money/spending under control.What whould I think he would do with the money I loaned him, it would not be under control either. HE would be owing 200k and I would be out my 100k.
It would be different if he want to buy a 200k coin and was short a 100k ... Then I would and hold the coin as collateral until paid.
I am not joking if he pays me $3500 I can have the credit card debt dissolved and dismissed! have him contact me and ready to sell me his debt I can transfer for him and he will be out of the loop! I'd post the link with the information but suspect your not supposed to do that!
live each day like it's your last but don't count on it!
<< <i>Not only NO, but L no. One thing I've learned that's not worth it...... doing business with friends or relatives, and loaning money to the same. >>
I agree 100%
Loaning money to friends or family tends not to end well.
I used to be somebody, now I'm just a coin collector. Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>I am not joking if he pays me $3500 I can have the credit card debt dissolved and dismissed! have him contact me and ready to sell me his debt I can transfer for him and he will be out of the loop! I'd post the link with the information but suspect your not supposed to do that! >>
Yes, have your friend try this out. That should teach him how to be financially responsible.
Then my interest rate can go up to pay for your friends debt discharge.......
My only thought upon reading the OP's thread title was: "Are you out of your mind?"
1) Anyone who runs up 100K in credit card debt is obviously a disastrous credit risk to begin with. 2) Loaning anyone 100K under any circumstances is probably extremely unwise. 3) "Neither a borrower nor a lender be." 4) "If you want to keep a friend, never borrow, never lend." 5) Would you loan the government $700 billion to cover toxic asset-backed paper? ** 6) This guy is just "a collecting bud" and not my brother or close family member, and you wnat me to loan him 100K? 7) Are you nuts?
** - OK, I might condone that if the alternative is financial armageddon ...
Suppose one of your coin collecting buds has run up 100K in credit card debt. Vacations, electronic gizmos, new furniture, that kind of thing. And then they come and ask you for a loan to cover it. Should you make them sell their collection before helping them out?
It depends on the details, but probably not. I'm not going to make the loan unless it's secure. Beyond that, what my "bud" does with his coins is his own business.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Suppose one of your coin collecting buds has run up 100K in credit card debt. Vacations, electronic gizmos, new furniture, that kind of thing. And then they come and ask you for a loan to cover it. Should you make them sell their collection before helping them out? >>
NO! Let it be a lesson for them to learn from. If they mismanaged their money, they will mismanage yours.
<< <i>I am not joking if he pays me $3500 I can have the credit card debt dissolved and dismissed! have him contact me and ready to sell me his debt I can transfer for him and he will be out of the loop! I'd post the link with the information but suspect your not supposed to do that! >>
Yes, have your friend try this out. That should teach him how to be financially responsible.
Then my interest rate can go up to pay for your friends debt discharge.......
Absolutely amazing.... >>
it's not his or my or anyone else's job to teach him financial responsibility. However,for $3500 I will take his debt charged to ME and file the proper papers to discharge it. there is NO BANKRUPTCY OR RESTITUTION PLACED ON OTHER CREDIT CARD HOLDERS IN PAYING IT BACK. it just does not work that way. Limited atonement is part of the T.U.L.I.P!
live each day like it's your last but don't count on it!
<< <i>If someone is not willing to help them self via constructive action then why should someone else be either willing or obligated to help them?
Their best course action is to own up to his or her's prior actions and met their own financial obligations from their own resources first. Don't perpetuate their self harming behavior any further, using yet another loan is not the solution. >>
I wouldn't bail them out either. Just like the government shouldn't be bailing out anybody.
<< <i>Suppose one of your coin collecting buds has run up 100K in credit card debt. Vacations, electronic gizmos, new furniture, that kind of thing. And then they come and ask you for a loan to cover it. Should you make them sell their collection before helping them out? >>
Is this a trick question? If not, the answer is rather obvous.
Comments
There are companies out there that will lend you $$ using your coins for collateral - use them.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
It would be different if he want to buy a 200k coin and was short a 100k
Run.
<< <i>Not only NO, but L no
I agree 100%
Loaning money to friends or family tends not to end well.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>I am not joking if he pays me $3500 I can have the credit card debt dissolved and dismissed! have him contact me and ready to sell me his debt I can transfer for him and he will be out of the loop! I'd post the link with the information but suspect your not supposed to do that!
Yes, have your friend try this out. That should teach him how to be financially responsible.
Then my interest rate can go up to pay for your friends debt discharge.......
Absolutely amazing....
1) Anyone who runs up 100K in credit card debt is obviously a disastrous credit risk to begin with.
2) Loaning anyone 100K under any circumstances is probably extremely unwise.
3) "Neither a borrower nor a lender be."
4) "If you want to keep a friend, never borrow, never lend."
5) Would you loan the government $700 billion to cover toxic asset-backed paper? **
6) This guy is just "a collecting bud" and not my brother or close family member, and you wnat me to loan him 100K?
7) Are you nuts?
** - OK, I might condone that if the alternative is financial armageddon ...
Sunnywood's Rainbow-Toned Morgans (Retired)
Sunnywood's Barber Quarters (Retired)
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
Camelot
It depends on the details, but probably not. I'm not going to make the loan unless it's secure. Beyond that, what my "bud" does with his coins is his own business.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Suppose one of your coin collecting buds has run up 100K in credit card debt. Vacations, electronic gizmos, new furniture, that kind of thing. And then they come and ask you for a loan to cover it. Should you make them sell their collection before helping them out? >>
NO! Let it be a lesson for them to learn from. If they mismanaged their money, they will mismanage yours.
<< <i>
<< <i>I am not joking if he pays me $3500 I can have the credit card debt dissolved and dismissed! have him contact me and ready to sell me his debt I can transfer for him and he will be out of the loop! I'd post the link with the information but suspect your not supposed to do that!
Yes, have your friend try this out. That should teach him how to be financially responsible.
Then my interest rate can go up to pay for your friends debt discharge.......
Absolutely amazing.... >>
it's not his or my or anyone else's job to teach him financial responsibility. However,for $3500 I will take his debt charged to ME and file the proper papers to discharge it. there is NO BANKRUPTCY OR RESTITUTION PLACED ON OTHER CREDIT CARD HOLDERS IN PAYING IT BACK. it just does not work that way. Limited atonement is part of the T.U.L.I.P!
<< <i>If someone is not willing to help them self via constructive action then why should someone else be either willing or obligated to help them?
Their best course action is to own up to his or her's prior actions and met their own financial obligations from their own resources first. Don't perpetuate their self harming behavior any further, using yet another loan is not the solution. >>
I wouldn't bail them out either. Just like the government shouldn't be bailing out anybody.
<< <i>Suppose one of your coin collecting buds has run up 100K in credit card debt. Vacations, electronic gizmos, new furniture, that kind of thing. And then they come and ask you for a loan to cover it. Should you make them sell their collection before helping them out? >>
Is this a trick question? If not, the answer is rather obvous.