SpelledBackwards posted:

Guys guys guys, I went to a mini horse's birthday party last week. Unfortunately for you guys, the owner was really nice (this party was for adults, and she had a separate one for kids and yet another for adults and kids with special needs) and wasn't spending extravagantly on the party. We hung out in the front lawn and drank beer and fed the little guy carrots and apples. She brings him to the house for petting sessions on the regular just because. I only found out about it because of the Nextdoor app where she posts whenever he's out and about.

I'm sure he's not cheap to keep on the nearby ranch where he normally lives, for what it's worth. Here's one photo on the driveway and one with me.

therobit posted:

Its you. You're the Bad With Money.

Residency Evil posted:

Sup BWM medicine buddies.

I just bought my 80k, wanted it since I was 10, dream car (used), 1.5 years old, for 50k while finishing up residency. Similar situation with a soon-to-be-fiancee (although she's earning 320k) and myself with med school debt, but gently caress it, I have 40k saved in cash (BWM, emergency fund savings got a bit out of control), have paid off 60k in student loans, and have some retirement savings. We have zero kids planned in the near future and both of us wanted to treat ourselves after dealing with this poo poo for ten years after college.

I feel better now.

n8r posted:

I think we should just start posting pics of our cocks and screenshots of our bank balances.

Subjunctive posted:

What if we're BWC?

brainwrinkle posted:

I would think the fixed costs like stabling and veterinary bills don't scale with horse size.

Although, mini horses might not live as long. Fixed costs over a shorter period.

Zo posted:

n8r posted:

I think we should just start posting pics of our cocks and screenshots of our bank balances.

n8r posted:

I think we should just start posting pics of our cocks and screenshots of our bank balances.

Spermy Smurf posted:

Check your PMs.

$165k of credit card debt - desperately need advice posted:

Hi all, I'm new here.
Last month I discovered that my father is in $165k of credit card debt, and that he has only been able to pay minimums on his 12 cards for at the last 5 years. I have, unknowingly, been a passive enabler of the situation by loaning him $2.5k per month for the last 5 years (~ $150k in total) and I feel like a bad daughter for not forcing this to come to light sooner. He recently asked if he could move some debt to credit cards under my name to temporarily reduce the APR he is paying, at which point I forced him to finally give me more information on his overall financial situation.
I have been scouring the internet the last few weeks, and so far reddit has been the only place where I feel I've found advice that is trustworthy - so a big thank you to everyone who has contributed to /r/personalfinance. Here goes:
Here is his debt:
$165k of credit card debt at an average APR of 15.25% spread over 12 cards; he is making all the minimum payments on all of them. He pays $3,800 a month across all of these. (His overall balance has stayed the same for many years.)
$105k of education loans, of which $90k is from the USDOE, that he pays $2,000 monthly.
$240k mortgage that is 6 years away from being paid off, which is roughly $2,500 monthly payment (7.5% rate, 30 years). The appraisal last year valued the house at $400k, but it would kill my parents to sell it.
Here is my parent’s income:
His post-tax income is $7.5k per month; my mother’s is $3k per month.
Other details:
His credit score is still good.
I have looked at his expenses and there’s no luxury items or anything else that would allow him to pay off the debt on his own.
He has no way of paying back the debt he currently owes
He is 65, but should be able to continue working at his job for another 5 years (obviously assuming he stays healthy)
My mother, due to health reasons, is retiring this year
The only other assets to their name is two cars, one worth $5k, and the other worth $10k
The options I see:
Refinancing option: he can refinance the house (30 years at a 3.5% APR) which would pay off his two existing mortgages and leave him with $108k of credit card debt. He would still not be in a position to work his way out from the credit card debt though, so this doesn’t seem to accomplish that much. As far as I know, this is his best option at debt consolidation.
Debt management plan option (through MMI): He could pay off his credit card debt in 5 years paying roughly the same (slightly less) than what he pays now on all his cards. This cuts him off from credit though, which would put him in a very difficult position, and he’s already poured ridiculous amounts of money into paying the interest across all these cards for years.
Bankruptcy option: We are just starting to explore this as it doesn’t seem there’s really a path otherwise.
Family option: Call on his siblings to help pitch in money towards paying off the CC debt. I could imagine him being able to get access to maybe $60k through his siblings, but I'm not sure he'd ever be able to pay them back...
I'm scared, and so far haven't found anyone trustworthy to turn to.
Do any of these options make sense? Who can I trust: Is MMI (a member of the NFCC) one of the “good guys”? Is it time to explore bankruptcy? Should I hire a fiduciary to look into all of this first?
Thank you so much in advance.

quote:

He has never missed a payment, which is why his credit score is still so high. My mother wasn't working when he took out all the loans and so he wasn't able to pay for expenses without putting them on credit cards and things got out of hand and now he's stuck just paying interest without the ability to decrease the balance.

Colonel J posted:

How the hell does that happen. He has no luxury items? You can't buy cocaine with a credit card + his daughter lent him 150k. I don't get it.

quote:

Found out my wife is a scammer stealing Amazon inventory to make a lot of money. I want to divorce and report her but am afraid she will blackmail or frame me. Colorado. (self.legaladvice)
submitted 11 hours ago by WifeIsAScammer
TL;DR I recently learned that my (soon to be ex) wife is a prominent internet scammer using Amazon.com, and has been for at least 2 years. I want to divorce her and turn her in but she says "you will regret it" if I do anything, said she'll either claim I raped her or was a co-conspirator to her fraud, or something else like that. She makes much more money than I could ever imagine, and I now own many expensive things gifted to me by her. The amount of fraud is likely in the range of several $100k.
This is kinda wordy so I've broken it into paragraphs. (I know you guys hate wordy posts. Sorry.)
Background: I've known my wife for about 4 years, been married for about 2. She's always been well-off and comes from a wealthy family, but started having a much greater personal income around the time we married. She's claimed to run a small wholesale business, buying from product distributors and manufacturers and selling to people locally. I've not thought to question it since I'm historically terrible with money and finances and was more than happy to let her handle taxes and bank accounts; I'm an artist and will admit that, while I do sincerely love her, it's been convenient getting to play the reverse sugar daddy and focus on my art without having to work for a living. I went from a 1-bedroom apartment to a 3400 sqft home with a 3-car garage.
Her scam: It turns out that she has found a way to steal inventory out of Amazon warehouses. Amazon offers a service called FBA (fulfillment by Amazon) in which 3rd party sellers can send inventory into their warehouses and then Amazon sends it on to the customer when it sells. If multiple sellers send in things it can all be "commingled," meaning there's no way to know which person sent in any one particular item, you might ship in a laptop computer but when a customer buys from you they might not receive the one you sent in, they might get one someone else sent in since in theory they're all the same thing. What she does is send in boxes that are of similar size and weight of a valuable item such as a gaming laptop and sticks a UPC barcode on it. She mails these fake boxes into the warehouse and then places an order for them to be sent back to her. Because it's all mixed together she usually receives the real thing instead of the fakes she sent in. Then she sells them locally here through places like craigslist.
My dilemma: I just found out about this very recently and am still reeling from it. I confronted her about it and she says if say anything about it she will blackmail and frame me. My biggest concern is that she really could paint me as a co-conspirator because now I own a lot of expensive things thanks to her; she even bought me a fully-equipped 2016 Lexus for my last birthday for example. I don't know how much the total fraud is but it's surely several hundred thousand dollars. Maybe over a million even, I don't know. Sell a few $2500 laptops a week and it adds up quick. I want to divorce her and turn her into the police but am afraid I'll end up in prison right next to her.
Emotionally I'm completely destroyed. If she had just cheated on me or something like that I could get past it, but right now I'm feeling like Skyler White learning that her dorky husband is actually a violent drug kingpin, not to mention I'm beating myself up mentally for not catching it sooner. I want to throw up. But I have the rest of my life to recover from this heartbreak and bemoan it. Right now I need practical legal advice. Please and thanks.

canyoneer posted:

sup from reddit.

https://np.reddit.com/r/legaladvice/comments/58fcdr/found_out_my_wife_is_a_scammer_stealing_amazon/

Haifisch posted:

That's very good with money, just bad with wife. And life. And not getting arrested for fraud.

pathetic little tramp posted:

Yeah eventually someone is going to receive one of her empty boxes and they'll trace it back to her, I mean, if I'm understanding the claim correctly.

Twerk from Home posted:

I can't believe that scam works. That's really stupid and I'd expect Amazon to have black balled her quickly.

Colonel J posted:

How the hell does that happen. He has no luxury items? You can't buy cocaine with a credit card + his daughter lent him 150k. I don't get it.

Barry posted:

Cash advances maybe

Sundae posted:

I literally can't believe that scam works. As in, I do not believe the Reddit poster at all. Either that's not the full scam or it's a fake post. Amazon opens and inspects FBA merchandise regardless of new or used status, including the stickerless commingled. (https://www.amazon.com/gp/help/customer/display.html?nodeId=201231500)

They will absolutely see that issue the moment it happens.

Sundae posted:

I literally can't believe that scam works. As in, I do not believe the Reddit poster at all. Either that's not the full scam or it's a fake post. Amazon opens and inspects FBA merchandise regardless of new or used status, including the stickerless commingled. (https://www.amazon.com/gp/help/customer/display.html?nodeId=201231500)

They will absolutely see that issue the moment it happens.

quote:

Products listed as "New"
Items sold as "New" need to be in brand new, unused condition.
Items sold in "New" condition will be inspected and marked as Unsellable if there are scratches, scuffs, dents, wear, creases, tears, or more beyond what is considered to be acceptable for a new item.

quote:

Throwaway account here. I feel you. My dad went through almost the same thing. I am a 27 year old guy, and I have sisters in their 20s/30s.

From 2010 to 2016 my dad racked up various debts including 120k in credit card debt, because it turns out he was living off them and 'robbing Peter to pay Paul' while banking on his brilliant business idea to come to fruition - which eventually proved to be a failure. We had long concluded that in the lead up, however he had refused to accept it until earlier this year. He had a high paying job until 2009 when he found this business idea, couldn't stop obsessing over it, quit his job and put everything into it. Along the way, we lost our house, he lost his entire net worth, any asset of value, and more by being indebted to multiple credit cards which had massive limits due to his previously well paying job.

I personally lost about 15k, and my sisters a collective 40k, a couple of cousins a collective 50k, all spent on helping him keep up with debt payments on the idea that 'Hey, this is my dad here. He's a smart guy. We think his business idea isn't that great but he does. It's been so long but maybe it just takes more time. Pulling out now would mean giving up. I'm not sure. But he is so confident'

What do we have to show for it? Nothing.

My dad lost everything. Has nothing. No home - it was previously fully paid off but he had remortgaged it for a business loan. No assets of any description - all sold off. He even sold my mum's piano. Exists on a government pension and rents a dilapidated room in an old house. He is 66. He still has all his credit card debts, of which the balances haven't moved. I suspect he'll file for bankruptcy this year. I don't give a poo poo.

Financially, myself and my sisters, have been extremely stunted in terms of our own financial start in life (all our savings, etc). My cousins are out of pocket even more - thinking at the time my Dad was just in a temporary bind and he'd always helped them out in times of need, and had been known for having well paying jobs before.

All this destruction of finance and assets, for what? He is still going bankrupt, only now, we've been reset to 0 along with him.

He also lost his marriage. My mum was left with nothing too. (The only positive to this story is that my maternal grandmother recently passed away and my mum inherited enough cash to buy a modest home in full, so I am very relieved she is taken care of in that way).

It's hugely affected our family. He and I can't really make eye contact.

He's going to go bankrupt. In your case, I would say let him go bankrupt now. He will lose his assets. But he won't lose his family at this point. Family is what matters most. My dad's path destroyed his relationships with all of us.

Biscuit Joiner posted:

Amazon tracks absolutely everything in their fulfillment centers, employees and merchandise. They know when an employee has stopped working for two minutes and will find you and find out why. Someone sending in empty boxes or damaged merchandise will be discovered very quickly.

The FC that I worked worked at didn't inspect the incoming items that were fulfilled by Amazon but it's very easy to find out who sent in which item. Everything in the Amazon FC has an LPN barcode on it, it looks like this -



The LPN is the top sticker, the yellow cs sticker is much older and not used anymore.

Tracing it back to who sent it in is very easy and no problem for them. I don't believe the persons story.

Sundae posted:

I literally can't believe that scam works. As in, I do not believe the Reddit poster at all. Either that's not the full scam or it's a fake post. Amazon opens and inspects FBA merchandise regardless of new or used status, including the stickerless commingled. (https://www.amazon.com/gp/help/customer/display.html?nodeId=201231500)

They will absolutely see that issue the moment it happens.

Pryor on Fire posted:

Everyone who works for Amazon seems to think it's super duper impossible but they send me the wrong poo poo and leave items out of orders and just straight up other people's entire orders all the time. And yes I'm talking about amazon not some other seller on amazon.

But but the robots and the computers ITS IMPOSSIBLE

BEHOLD: MY CAPE posted:

If you're smart enough to make a bunch of money doing something illegal for several years, then smart enough to think of a plausible but still illegal cover story, why not just apply your faculties to making a living doing something questionably legal

BEHOLD: MY CAPE posted:

If you're smart enough to make a bunch of money doing something illegal for several years, then smart enough to think of a plausible but still illegal cover story, why not just apply your faculties to making a living doing something questionably legal