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Re: Probable SG Alert

Posted: Tue Mar 10, 2009 11:16 pm
by GRUMPY PIRATE
hobie16 wrote:How long will it affect his credit rating?
Seven years, AFTER the last account activity. (I.E. Repo, charge off, eviction, etc.)

Re: Probable SG Alert

Posted: Wed Mar 11, 2009 11:45 am
by Mayonnaise
felinefan wrote:God help him if something happens to the parents and they don't leave him enough to pay off those loans. His credit will be in the sewer, if it isn't already. Some people just have to hit bottom real hard before they learn....
Oh his credit is already in the sewer, and when he started to overdraft his bank account, he dinged my parent's too. It was a joint account with my mom he's had since he was a kid. They made him close it and get his own. they were PISSED because before that their rating was pristine.

But God forbid something happens to our parents, he would actually have a windfall. They aren't rich by any means, but they live a debt free life (hence the pristine credit rating, they say never put on your credit card what you don't have the cash to pay for in your account.) So selling off everything they own could cover his trouble... also if I bought him out of his half of their house, which I would totally try to do. He's too irresponsible to have it. He'd get it into foreclosure.

At the moment, the reason his debt is unbelievably irresponsible isn't it's size: like I said it's currently less than the price of a car. It's where he's got it. A car loan doesn't snowball like credit card debt. Also he didn't get anything as useful as a a CAR out of it... he got some American Eagle clothes (those things are a mess when you buy them,) Video Games, Booze, Cigars, Three Disney Trips in Two years, and oh... well I guess he got his car fixed, but that was broken, like I said, because he was an idiot who decided to ignore the oil light.

*Sigh.*

8^S

Re: Probable SG Alert

Posted: Thu Mar 12, 2009 11:27 am
by Mayonnaise
So I had dinner out with my mother last night... we went to the Outback, because I was still hankering for seared tuna, and inevitably the conversation turned to my brother... mostly because my parents were not pleased to find out that he'd been text messaging me from Disney, because normally he wouldn't give me the time of day. Their whole thing was basically "If we thought he was reaching out to bridge the gap, it would be one thing, but we're pretty sure he's just doing it to gloat, which is hurtful."

So, I had my facts a little wrong... the $5,000 loan was a $5,500 dollar loan, which my brother took out, not to pay down his credit cards, or fix the car, but to live off, as my parents insisted he pay his own way for the semester because he flunked his classes the previous semester, on the promise that they would give him the money to pay off the loan, if he got his grades right that semester. (They paid my room and board in the dorms thru college, and had promised to do the same for him, but weren't going to if his grades were shit, so had worked out a system where he borrowed the money for each semester, and then got it paid off only if he got all grades at least B.)

This was supposed to support him thru the second semester of his Junior Year and the summer between Jr. and Sr. year staying in his off campus apartment. He blew thru all $5,500 by the end of the semester.

Lets parse that out: His rent is $900 bucks a month and he splits it and utilities with 2 other boys. Cable and internet around here run you $110 and utilities, in winter, for an apartment his size is about about 175, I know because my apartment is about the same size... but lets just add another 50 bucks assuming he's got worse drafts or something... so that's... $412 a month, round up to $500 a month for groceries, and he should have spent, in a semester (that's roughly 4 months): $2,000.

The other $3,500 was spent on the PS3, Game Cube, Rock Band Game and Instruments, Eating out, Booze, a Disney trip, and a bunch of other stuff he didn't need. My mother believes he's been eating regularly at restaurants where the food is >$25 a plate, based on the things he tells her and the places he recommends for my parents to try.

Anyhow he got his Bs, so my parents gave him the 5,500 to pay off the loan. Because he was BROKE at that point, he used the REIMBURSEMENT to fix the car he ruined, and to live off, and DID NOT pay down his $1,500 Maxed out Target Card, or his Maxed Out American Eagle Card (my parents aren't sure what the limit on that one was) as I thought he did.

That means he has at least $1,500 more debt than I thought, as of LAST Summer, since, yeah, he didn't pay down the Target Card.

Continuing their agreement, he took out ANOTHER student loan I hadn't known about at the beginning of this semester, for $7,500, which he was supposed to live off for all of Senior Year, to be reimbursed $3,750 after each semester provided he got his Bs. To keep him from being an ass again, he wrote my parents a check for $3,750 so they could hold his second semester money until second semester.

He was broke again by Mid November. At this point he was sponging off his roommates and frequently coming home to my parents house to eat their food. At the end of the semester, he sent my mother, VIA e-mail a falsified CAP report (like a college report card). It claimed he had 3 Bs in his 3 Classes.

STUPID MOVE.

My mother works for the school. That's how we got free rides (dependents of employees don't pay tuition, but they still have to apply like others and if they don't get in they don't get in.) So she knew he was faking... because she wrote the software that outputs CAP reports, and knows they export as PDFs, not .doc files, and so he just copy pasted off the website and tampered with them. When she made him show her on the actual website (it's not public, you need to enter your Student ID Number and PIN) it turned out he had ONE B and two Incompletes. So the agreement was made, he would get his money when his incomplete were graded, if they were actually Bs.

That was the Fall Semester, and he still hasn't come round to collect on it. Meaning halfway into his last semester he still has 2 incompletes. At our school if your incomplete is not completed by the end of the following semester, it becomes an F. No negotiating.

If he doesn't pass those classes, he's not going to graduate.

If he doesn't graduate he's not going to get a job.

They did give him back his other $3,750 of his loan, to live off his last semester tho... they really couldn't not, because it's his money that he borrowed from the student loans people, and he doesn't owe my parents a dime, because they know better than to lend him money. So he did get right with his roomates over his part of December's rent and utilities that he hadn't paid when he was broke.

So, now his debt is at least $14,500, not including the AE card, which IS more than a car.

Re: Probable SG Alert

Posted: Thu Mar 12, 2009 11:30 am
by Mayonnaise
And no one's sure how he paid for THIS Disney Trip, as as, far as anyone in our family knew, he did not HAVE $1,000 to spare, (his text message said "this trip only cost 1000 bux" tho I'm pretty sure that's not including food while he's down there) so we're afraid he has more cards no one knows about.

Meanwhile, because he put my parents house for his address on his credit cards, instead of his at college apartment, my parents have been getting credit collection calls day and night for months now. Mom says they've mostly stopped since she's taken to giving the credit agencies his cell number, which pissed off my brother because now their calling him. he actually had the gall to yell at my mother for it... like the calls weren't all for him anyway.

Some credit people are NASTY by the way... my parents suffered allot of really abusive language, especially since my father and brother have the same first name, and my brother is not a Jr. (different middle names but same middle initial, fun with the mail too) and so when people call asking for my brother by first and last name, my father doesn't know they don't want him, and then when he realizes they want my brother (because credit agencies have no reason to be calling my father,) don't like the explanation of "Oh that's my grown son and he's not home now."

*Sighs.*

8^S

Re: Probable SG Alert

Posted: Thu Mar 12, 2009 11:57 am
by Lasolimu
I will admit that I have a lot of debt right now, but that is because I am attending an expensive school(>$20,000 per year) and I insist on paying for it myself. After 4 years I have roughly $24,000 in student loans, I have no other debt at this time and I don't intend to accumulate any more. After graduation, this is my first priority and I should be able to pay it off within 2 years without much difficulty. I learned from my parents that a lot of credit card debt is bad because they had this problem. This also doesn't mean that I don't spend money on anything fun, but I am responsible about it.

Re: Probable SG Alert

Posted: Wed Aug 12, 2009 8:51 am
by Mayonnaise
Eyes open folks... he's on his way back again... may be there by now. Left from NY by car on Monday for a 2 week trip to Florida. Hitting the gulf coast and Disney, not sure in what order. Still hasn't got a job in his field out of college (stocks shelves nights at Price Chopper) and no interest in getting one, as he might not be able to get off from that job for his planned trip back to the World in January.

*Rams head into wall repeatedly.*

X^S

Re: Probable SG Alert

Posted: Wed Aug 12, 2009 9:59 pm
by felinefan
Looks like I'm not the only one who wishes I could be tested to see if I really am related to my "family" or if I was switched at birth. And yes, I've thought that quite a few times. Even before DNA testing was invented.

Re: Probable SG Alert

Posted: Thu Aug 13, 2009 5:02 am
by hobie16
I knew a kid in high school who turned out to have been switched at birth. His parents and two brothers all stood about 5'6", slender, with brunette hair. he was over 6', very heavy, with strawberry blond hair. This was long before DNA testing was even a dream.

Re: Probable SG Alert

Posted: Thu Aug 13, 2009 6:55 am
by Mayonnaise
I'm pretty sure that didn't happen to either of us... we were both the spitting image of our respective gendered parent at that age until mid-late adolescence. My parents aren't pleased with him either tho.