|
I have an ex who was not great with money. When he was young and stupid he'd bought a car and gotten a really bad deal on the financing. He spent a lot of time during our relationship complaining about that car and the debt and how much it limited his ability to save. With my influence he'd set up a budget, actually found out how much he owed on all his debts (he literally had no idea of his balances or when they would be paid off or anything) and was almost at the point of finally having this loan paid off. The car was old-ish but there was nothing wrong with it. During the period we were breaking up he got a new job and a significant salary bump (about $20k from memory). He immediately went out and bought some top of the line Golf VT that cost about half his annual salary. On finance of course. I remember him happily telling me about his new car and how it "wasn't costing anything extra" because his loan repayments on the new car were the same as his loan repayments on the old car. I didn't bother pointing out that actually it was costing him $40k extra because that was how much the car cost, but I sure do remember thinking I'd dodged a bullet.
|
#
?
Mar 19, 2014 05:34
|
|
|
|
| # ? May 28, 2024 16:18 |
|
|
Duck and Cover posted:Hahahahahaahahaha. Aged out of games? Hahahahahhaahaha. Wow just wow. Yeah risking lifelong injury is something that should be glorified. Hey kid wouldn't you rather have brain damage? How about knee injuries? No no no sports are great gently caress those childish video games! agreed, OP.
|
|
#
?
Mar 19, 2014 15:31
|
|
|
No Wave posted:It's fun to watch people be really good at things. What you enjoy watching will vary depending on your interests. I used to be crazy about Top Chef for that reason... No, I've saved up a lot of other money, but always peeled some aside for the car. Rest has been put into savings, IRA, 401k and such. I've got enough saved up to buy the car outright, but why not take advantage of low interest employee loan.
|
|
#
?
Mar 19, 2014 18:39
|
|
|
CitizenKain posted:No, I've saved up a lot of other money, but always peeled some aside for the car. Rest has been put into savings, IRA, 401k and such. I've got enough saved up to buy the car outright, but why not take advantage of low interest employee loan.
|
|
#
?
Mar 19, 2014 19:13
|
|
|
I don't think a 30k car is a great expenditure of money(I personally will never buy anything more than a 10k car ever again, preferably with cash), but a 15k loan would probably come out to around a 300 dollar monthly payment, which isn't far above the 205 dollars saved per month to get the 15k that would be a down payment. Assuming said poster has no debt is still putting some money into emergency and investing beyond employer match in 401k and maxed IRA, I don't see what the problem is.
|
|
#
?
Mar 19, 2014 19:18
|
|
|
Nail Rat posted:I don't think a 30k car is a great expenditure of money(I personally will never buy anything more than a 10k car ever again, preferably with cash), but a 15k loan would probably come out to around a 300 dollar monthly payment, which isn't far above the 205 dollars saved per month to get the 15k that would be a down payment. Assuming said poster has no debt is still putting some money into emergency and investing beyond employer match in 401k and maxed IRA, I don't see what the problem is. Not necessarily bad with money, so I apologize.
|
|
#
?
Mar 19, 2014 19:21
|
|
|
Let's get more, "OMG that is incredibly stupid" stories.
|
|
#
?
Mar 19, 2014 21:57
|
|
|
Nail Rat posted:I don't think a 30k car is a great expenditure of money(I personally will never buy anything more than a 10k car ever again, preferably with cash), but a 15k loan would probably come out to around a 300 dollar monthly payment, which isn't far above the 205 dollars saved per month to get the 15k that would be a down payment. Assuming said poster has no debt is still putting some money into emergency and investing beyond employer match in 401k and maxed IRA, I don't see what the problem is. Not to mention the benefit of having a reliable car you don't have to worry about breaking down because you bought a beater for cheap. Especially if you're not mechanically inclined and/or live in a place where you can't easily work on a car. Well worth the extra money for peace of mind.
|
|
#
?
Mar 19, 2014 23:05
|
|
|
Shipon posted:Not to mention the benefit of having a reliable car you don't have to worry about breaking down because you bought a beater for cheap. Especially if you're not mechanically inclined and/or live in a place where you can't easily work on a car. Well worth the extra money for peace of mind. Lol, a $10k car is by no means a "beater." I got a facebook message from my college roommate today underhandedly asking me for $1500 for detox because she's a junkie and can't find a job while she's so dependent on heroin. She's typically an escort by profession, but her junkie boyfriend doesn't want her doing that anymore (yet he isn't providing the money for detox? Ugh loving heroin). There are obviously a bunch of problems going on here, but being bad with money is certainly one of them. All her bank accounts are overdrawn (if they aren't closed and in legal proceedings), and she's already been through detox like 3 times in the past year. She's had a car repossessed, just failed out of nursing school AGAIN, and owes 3 people (including her mom) money for posting bail on various arrests. I just saw her last week and I think I may have "lost" $50 in the process. Junkie friends are the worst friends, luckily I live across the world and see her only every couple years. We were randomly paired freshman dorm roommates, it's astounding to see the difference between where our decisions have taken us.
|
|
#
?
Mar 20, 2014 02:50
|
|
|
Switchback posted:Lol, a $10k car is by no means a "beater." It's incredible that she's addicted to heroine and also doing nursing school.
|
|
#
?
Mar 20, 2014 03:52
|
|
|
Switchback posted:Lol, a $10k car is by no means a "beater." This is actually a really sad story. I'm sure she wouldn't be that responsible f a person otherwise, but heroin makes people do just crazy, awful things.
|
|
#
?
Mar 20, 2014 03:55
|
|
|
If you know what you're doing you can get a reliable car under 2k. There are plenty of cars which are cheap in the 100k mile range which are good for another 100-200k, with maybe $100-200 in parts per year if you do all of your own work, and maybe $1000 per year total if you do none of it. There are people who can help if you don't know what you're doing: http://forums.somethingawful.com/showthread.php?threadid=3213538 On the subject: When I was in the Air Force I knew a Navy guy, an E4, who was paying 650 a month to lease a CRV. 650 a month to LEASE A CRV. I knew another guy, an 18 year old E1, who was spending over 800 a month, payments and insurance, on his Honda Prelude, out of about 1100 dollars per month in pay. Granted, these guys' houses, food, and medical expenses were all pretty much taken care of, but GOD drat. For my part, I bought a basket case 280Z which I ended up abandoning after spending thousands of dollars on it; but at least I learned something about cars from working on it. VideoTapir fucked around with this message at 05:50 on Mar 20, 2014 |
|
#
?
Mar 20, 2014 05:47
|
|
|
[quote="VideoTapir" post=""42719360"] When I was in the Air Force I knew a Navy guy, an E4, who was paying 650 a month to lease a CRV. 650 a month to LEASE A CRV. I knew another guy, an 18 year old E1, who was spending over 800 a month, payments and insurance, on his Honda Prelude, out of about 1100 dollars per month in pay. [/quote] The gently caress? How does that even happen? Neither of those are high end cars.
|
|
#
?
Mar 20, 2014 19:34
|
|
|
seacat posted:The gently caress? How does that even happen? Neither of those are high end cars. You know those car dealer that advertises 'we'll pay off your old car loans'. That's how. People don't realize that their old loans or leases are rolled into the new one until it's too late.
|
|
#
?
Mar 20, 2014 19:48
|
|
|
lostleaf posted:You know those car dealer that advertises 'we'll pay off your old car loans'. That's how. People don't realize that their old loans or leases are rolled into the new one until it's too late. Plus military dealerships. Dealerships near military bases house the most predatory scum known to man. The number of kids zooming around on lovely ninja bikes in chocochip camo near Camp Pendleton is ridiculous and I guarantee most of them have that kind of a raw deal.
|
|
#
?
Mar 20, 2014 20:15
|
|
|
Last weekend, my mom came down for a visit. She is not a rich woman. She is supporting herself off a ~$10/hour phone jockey job. She has zero savings. Her retirement plan was her house, but 2008 happened, she went bankrupt, and lost it. The $10/hr is all she has for income, because my dad hosed off long ago & even if we had any idea where he was, chances are he drank all his money away anyway. Her old car died this month(it blew a head gasket). It happens. What I didn't expect was her coming up here a week or two later in a brand new car. She got herself a $14k-ish new Kia because she basically doesn't want to deal with repairing a used car. Instead of saving several thousand dollars in the long run, she paid more because she seems to think that used cars are all ticking timebombs waiting to blow. (Which seems to be a thing with her; she was against me buying used when I moved out of the city & actually needed a car, because she was worried about it breaking down on me.  )I'm torn between it being bad with money because she bought new when she keeps complaining about being broke, or being okay-ish with money because she literally drove her last car for 10+ years until repairing it was more than it was worth(which actually makes her aversion to buying used a bit more baffling to me, now that I think about it). I think the tipping factor is that she's 63 and looking at 'retiring', taking Social Security(remember, no savings, retirement or otherwise), and getting a part-time job. I'm pretty sure she literally cannot afford this new car and her (reasonably priced for her current income, but not a prospective retirement income) apartment. Mom, I love you, but please stop doing this stuff before you're eating cat food in 2 years. 
|
|
#
?
Mar 20, 2014 23:18
|
|
|
Haifisch posted:Last weekend, my mom came down for a visit. She is not a rich woman. She is supporting herself off a ~$10/hour phone jockey job. She has zero savings. Her retirement plan was her house, but 2008 happened, she went bankrupt, and lost it. The $10/hr is all she has for income, because my dad hosed off long ago & even if we had any idea where he was, chances are he drank all his money away anyway. Welcome to Real America. It's scary how large a proportion of the population lives this way. Not to say it is necessarily their fault since the lack of financial and economic education in this country is appalling, but man how do you get through to people that keep making similar mistakes over and over again throughout their entire life and never seem to learn? One whole half of my extended family lives like this and it's sad that it feels like there is no helping them. Giving them money is at best a temporary bandaid and at worst perpetuates the bad behavior.
|
|
#
?
Mar 20, 2014 23:27
|
|
|
pathetic little tramp posted:Plus military dealerships. Dealerships near military bases house the most predatory scum known to man. The number of kids zooming around on lovely ninja bikes in chocochip camo near Camp Pendleton is ridiculous and I guarantee most of them have that kind of a raw deal. Yeah, I worked at a sub-prime vehicle finance office for a while and it is super easy to rip military people off. Often they're just not good with money to begin with, but so long as you're an active military member all of the debt you owe on your credit lines is frozen. So someone who would, normally, have a ridiculous Debt to Income ratio effectively has 0% DTI for the purposes of underwriting whatever lovely deal they get. If you're at a less scrupulous/desperate office like the one I used to work at, then you'll happily ignore their outstanding debt and just assume they'll stick with the military. I wonder how repossession works on a military base? Do they let the repo guys enter or do the soldiers just escort the vehicle to the front as part of a walk of shame?
|
|
#
?
Mar 21, 2014 00:36
|
|
|
RommelMcDonald posted:Yeah, I worked at a sub-prime vehicle finance office for a while and it is super easy to rip military people off. Often they're just not good with money to begin with, but so long as you're an active military member all of the debt you owe on your credit lines is frozen. So someone who would, normally, have a ridiculous Debt to Income ratio effectively has 0% DTI for the purposes of underwriting whatever lovely deal they get. If you're at a less scrupulous/desperate office like the one I used to work at, then you'll happily ignore their outstanding debt and just assume they'll stick with the military. In Canada as soon as your supervisor gets a collections-related call the soldier is put on a crazy financial education and forced repayment plan. Like, at the pay office level. If that fails, then they can be kicked out for some crazy catch all.
|
|
#
?
Mar 21, 2014 00:43
|
|
|
That's pretty similar to what happens in the US military, though I haven't heard of anyone being kicked out for it, the folks whose financial trainwrecks are due to poor impulse control (and in the military that's about all it could be unless you've got family problems) tend to find some other way to get kicked out. A total inability to handle one's finances can cost you your security clearance, too. It's considered a security risk, because they figure you'll be more susceptible to bribery. Note that spending 80 percent of your income on a car will still let you get a Top Secret clearance. VideoTapir fucked around with this message at 03:26 on Mar 21, 2014 |
|
#
?
Mar 21, 2014 03:23
|
|
|
I think it was in this thread that there was a link to a government site concerning judicial reviews for security clearances. The whole thing was page after page of "Soandso borrowed $200,000 without making a single payment. After bankruptcy proceedings, Soandso somehow managed to then repeat the act. TS/SCI revoked. Appeal possible in one year." I'm told inductees to the US military get a speech about not getting payday loans or break-your-ARM mortgages, but God drat if military towns aren't lousy with every variety of predatory financial institution. It's really depressing.
|
|
#
?
Mar 21, 2014 03:44
|
|
|
MrKatharsis posted:I think it was in this thread that there was a link to a government site concerning judicial reviews for security clearances. The whole thing was page after page of "Soandso borrowed $200,000 without making a single payment. After bankruptcy proceedings, Soandso somehow managed to then repeat the act. TS/SCI revoked. Appeal possible in one year." http://www.dod.mil/dodgc/doha/industrial/
|
|
#
?
Mar 21, 2014 04:13
|
|
|
First one I clicked: quote:HEINY, Claude R., Administrative Judge: Heiny 
|
|
#
?
Mar 21, 2014 05:06
|
|
|
tuyop posted:It's incredible that she's addicted to heroine and also doing nursing school.
|
|
#
?
Mar 21, 2014 05:39
|
|
|
Another couple thoughts about my previous profession: I worked with a lot of scummy dealerships and they were often trying to scam me as much as they were the customer. I'd see obviously fake Proof of Roof documents with the Edit hyperlink right next to the address. Or the customer would bring their spouse with good credit to the dealership and then submit the first page of their own bank statement with the remaining pages being from their spouse as Proof of Income (only really new salespeople did really obvious poo poo like this). From my own experience, the customer is often working with the salesperson to fool "the bank," as they called us, because they're more concerned with getting a vehicle now than actually being able to pay it off. And for some people repos are just a thing that happens every other year. I saw one guy send in a fake pay stub that was fairly convincing aside from the fact that he was being paid $200.00/hour to construct playgrounds for Playground Inc. He then accidentally sent in his real pay stub showing him making $7.50/hour ten minutes later, which even at 40 hours per week was below our minimum monthly income. He spent the rest of the day driving around to different dealerships and calling us pretending to be the salesperson so he could ask if we'd gotten the $200.00/hour pay stub yet. We bullshitted him about not getting the fax, which he sent half a dozen more times, until he got the hint that his plan wasn't working. I also knew for a fact that a bunch of our customers decided to go out and finance a vehicle immediately after being fired. We'd have customers providing two new pay stubs with full time hours, and we'd tell the salesperson that they weren't getting approved until we'd verified their employment since it was obvious they hadn't been at their current job for long. The salesperson would then tell the customer to drive off as quickly as they could, and the customer would then repeatedly call my direct line and ask if I'd spoken to a specific person at their job, and that if I hadn't then I should call them now because they were totally there. But it was our policy to never ask for a specific person and instead ask for the manager/HR so this never really worked. When we found out they were fired we'd close the deal and then let the rear end in a top hat salesperson deal with it. Because gently caress them. I actually had to lobby pretty hard to make it our policy not to give specific descriptions of why we denied an application unless it was something really blatant, like having 70% of your wages garnished. The explanations we were giving were just helping the salespeople and customers become better liars. cumshitter fucked around with this message at 07:09 on Mar 21, 2014 |
|
#
?
Mar 21, 2014 07:06
|
|
|
RommelMcDonald posted:I'd see obviously fake Proof of Roof documents with the Edit hyperlink right next to the address. What does this mean?
|
|
#
?
Mar 21, 2014 08:03
|
|
|
Imagine if you logged into your cellphone provider's website and changed your billing address. Then you sent a screen shot of that to me as proof of where you live, because I want to know where to send the repo truck in case you default on your payments. Except, right next to your address, all of the menu options are visible. One of which is "Click here to change your address."
|
|
#
?
Mar 21, 2014 08:42
|
|
|
lostleaf posted:You know those car dealer that advertises 'we'll pay off your old car loans'. That's how. People don't realize that their old loans or leases are rolled into the new one until it's too late. The 800/month Prelude guy was 18 years old. No way he had an old car loan. I'm guessing insurance was the killer there; and he may also have had a short loan. I don't expect the loan was a good one either way.
|
|
#
?
Mar 21, 2014 11:07
|
|
|
VideoTapir posted:The 800/month Prelude guy was 18 years old. No way he had an old car loan. I'm guessing insurance was the killer there; and he may also have had a short loan. I don't expect the loan was a good one either way.
|
|
#
?
Mar 21, 2014 14:48
|
|
|
I'm kinda surprised at the number of people who were flipping houses. quote:Applicant owned 21 properties between 2003 and 2008 as part of his real estate business, when values in the real estate market were rising rapidly. He used credit cards and lines of credit to maintain his properties. When the market crashed, he was unable to make the payments on his mortgage loans or credit accounts. He recently brought three of his mortgage loans current, but has more than $97,000 in delinquent credit debt, with no concrete plan to resolve it. Clearance is denied. CASE NO: 12-02926.h1 haha quote:Applicant’s argument that, in a decision without a hearing, a Judge was duty-bound to inquire as to Applicant’s ability to proceed pro se was without merit. Applicant failed to rebut the presumption that the Judge considered all of the evidence. CASE NO: 12-00120.a1
|
|
#
?
Mar 21, 2014 17:42
|
|
|
A cousin of mine actually lost his top secret because he had built 2 high end houses in the loving desert and thought people would buy them. Apparently they also committed some level of fraud by taking a bunch of the high end finishing out before the bank took possession >< But oh, good for them, the state allows them to still buy a $150,000 house after foreclosures. My husband saw one of the houses and basically said it looked like some south american drug king pins house. volley ball court, tennis court, literal wings of the house that they would close off as to not run a/c. It was loving stupid that they thought anyone would buy it considering the location being in the middle of no where.
|
|
#
?
Mar 21, 2014 20:45
|
|
|
These DoD ajudications are a goldmine: "Applicant’s statement of reasons (SOR) lists nine delinquent debts owed to the Internal Revenue Service (IRS), totaling $382,585. Applicant admitted to seven IRS liens. The IRS is seeking $263,456 for tax years 1999-2005, 2008, and 2011 from him. He did not make sufficient progress resolving his financial problems. He intentionally failed to disclose his tax debts on his July 29, 2011 Electronic Questionnaires for Investigations Processing (e-QIP) (SF 86). Financial considerations and personal conduct concerns are not mitigated. Eligibility for access to classified information is denied." Just...how?  Moreover how do these people fill out their SF-86 for a clearance and expect to get it?
|
|
#
?
Mar 22, 2014 04:16
|
|
|
In all honesty they either probably didn't know it would disqualify them and/or their job made them apply. Not that I'm defending them.
|
|
#
?
Mar 22, 2014 13:04
|
|
|
You also have to redo it every 5 years. So it's very possible that some of them got that debt between those 5 years.
|
|
#
?
Mar 22, 2014 17:11
|
|
|
Higgy posted:These DoD ajudications are a goldmine: http://www.techdirt.com/articles/20140124/12433225982/doj-says-company-that-vetted-snowden-faked-665000-background-checks.shtml
|
|
#
?
Mar 22, 2014 18:18
|
|
|
I know a guy who's an accountant for a big company and had been doing it for 10+ years. They background check when you apply for a job and sometimes post "incidents." The guy was making 120k and applied to another accounting job in the same company in a different business unit. He did this for a 10k raise, and I'm assuming he knew he'd get a new background check. Sure enough he was up to debt in his eyeballs and after getting an offer on the new position, they rechecked his background. Now he's out of a job altogether 
|
|
#
?
Mar 22, 2014 18:21
|
|
|
oxsnard posted:I know a guy who's an accountant for a big company and had been doing it for 10+ years. They background check when you apply for a job and sometimes post "incidents." The guy was making 120k and applied to another accounting job in the same company in a different business unit. He did this for a 10k raise, and I'm assuming he knew he'd get a new background check. Sure enough he was up to debt in his eyeballs and after getting an offer on the new position, they rechecked his background. None of this story makes sense to me. I have no idea what you're trying to say.
|
|
#
?
Mar 22, 2014 21:39
|
|
|
Got background checked when applying for a 10k increase job change at his company. Had lots of debt. Lost his job. He wouldn't have been checked had he stayed put.
|
|
#
?
Mar 22, 2014 21:45
|
|
|
I wonder how much a "lot of debt" is. Could SloMo be in trouble?!
|
|
#
?
Mar 22, 2014 21:49
|
|
|
|
| # ? May 28, 2024 16:18 |
|
|
oxsnard posted:Got background checked when applying for a 10k increase job change at his company. Had lots of debt. Lost his job. He wouldn't have been checked had he stayed put. I thought the background checks a company does only pulls up police records and verifies that you've lived where you said you lived in the past 10 years. The debt thing for security clearances are completely different.
|
|
#
?
Mar 22, 2014 21:50
|
|