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How Subprime Car Loans Are Ruining Lives And Repeating The Mistakes Of The Housing Crisis http://jalopnik.com/how-subprime-car-loans-are-ruining-lives-and-repeating-1796893288
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Jul 22, 2017 01:05
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Hoodwinker posted:I've brought this up before and I'll bring it up again: the next great crisis won't be real estate or auto loans, it'll be phone/electronics loans. It's gonna be tech-noir as hell. I don't doubt you on this, but will that have as much impact? I mean, those things are much lower cost so I'd think the number of units would have to be astronomical to have the same mass effect. Is there any research/articles on this? Sounds like prime BWM thread reading.
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Jul 22, 2017 01:55
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OctaviusBeaver posted:And it's super easy to get on disability on appeal. You go in front of a judge and you hire a lawyer who argues in favor of you getting disability. But the state doesn't have an advocate who argues you shouldn't be, so the judge only hears one side. The only missing piece is getting a doctor to say you have some sort of disability, and I bet that's about as hard to find as a doctor who says you need medical marijuana. I have a friend who is a disability lawyer. He said over 65% of people being represented used to get on disability. In the last year or so it's more like 35%. I don't know if that's nationwide or the reasons behind it, but it's most definitely a thing that's changing their practice.
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Jul 22, 2017 15:55
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32m currently 2 months behind on mortgage, ~$10k cc debt.... in need of some advice https://www.reddit.com/r/personalfinance/comments/6p1yal/32m_currently_2_months_behind_on_mortgage_10k_cc/ quote:Hi folks my title was too vague so my post go kicked... I am in need of some advice. We have hit some financial trouble and my wife said that this would be where to ask for help. So here it goes: ~$30k car on $50k a year and many other questionable decisions.
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Jul 23, 2017 18:09
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Enfys posted:How does this happen? By not understanding the letter. I got one of those a few months ago. My property tax went up and I was informed that if I didn't send $x by y date to cover the shortfall in escrow my mortgage payment would increase by $x/12 per month.
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Jul 23, 2017 19:38
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C.H.O.M.E posted:700 to 1300 seems like a huge jump, that'd be like an increase of 7200 in escrow over the next year. Assuming a 2% property tax rate that's mean their home value went up by 360,000. That's a good point. Those are huge relative numbers. I think I'm going to have to vote for: this person has no idea what they are talking about and the "facts" presented are wrong.
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Jul 23, 2017 20:28
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GamingHyena posted:it's possible the mortgage servicer hosed up and wasn't including his homeowner's insurance or taxes at all in the previous year and this represents the shortfall from that. That sounds pretty likely. BEHOLD: MY CAPE posted:There is probably another explanation but in some places there are periodic property value surveys that can dramatically alter assessments and therefore tax bills. Ours occurs every eight years, most recently in 2016 and before that 2008. Needless to say many property values jumped dramatically on the tax rolls, some in my neighborhood reported more than 40% And this. Or a combination of those, throw in maybe some insurance rating change (they lied on the app and the property insurance adjuster has come by to double check, causing a re-rating or they made claims which caused the same).
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Jul 23, 2017 20:57
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Vox Nihili posted:The rest I more or less understand but how on earth did this guy end up buying a camper at 20% interest when he doesn't even own a car? Not nice, but talked about a lot in the last few year: thinking like a poor person. I've been there and I get it. I can no longer rationalize how I rationalized decisions like that anymore, but it all boils down to YOLO! (until the walls come tumbling down)
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Jul 23, 2017 21:15
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Doc Hawkins posted:Maybe his wife owned one. She did not. Sigh.
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Jul 23, 2017 22:00
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LLCoolJD posted:Also, why does a 23-year-old want a camper? They seem like Griswold family and retiree things. I bought one after I had my first kid. It was freaking awesome. Little kids want to go home at the end of the day. This counted as "home". Super cheap and easy vacations is "camping" (it's not camping when you have a microwave, AC, shower and satellite TV) is your thing. State parks are like $8 a night to stay at. It's not for everyone, but I totally get it. Ninja edit: Mine was totally used, totally 80s (meaning mid 90s as far as build date) and I paid less for it than the interest on his loan. It was fine. I still have it. The mirrors on the cabinet doors and mauve upholstery still make me laugh. Motronic fucked around with this message at 22:47 on Jul 23, 2017 |
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Jul 23, 2017 22:45
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Blinkman987 posted:some person in some mediocre sedan rolled up next to me specifically just to tell me to get a job. It was a Saturday. I told her I had a job and it was better than her job. She looked at me dumbfounded and repeated "get a job." This is totally how you win dude. Do you have a zine I can subscribe to?
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Jul 25, 2017 03:24
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ego symphonic posted:$400 for an oil change is somehow "not ridiculous." There is a special kind of lunatic that purchases a used Ferrari. This breed of lunatic scrutinizes maintenance records and carfax for anything out of order or any indication a single thing was ever done to the car outside of a dealership. There are enough of these people that they set the market prices. And as you can guess, they want money off for all "infractions" of the perfect-maintenance-schedule-at-a-dealer regime. So in the context of this car and what this guy was doing (buying it for a one-year project and then selling at the least loss possible) this was actually a rational move. It's all insanely BWM, and cars like that are hobbies/toys, not investments and obviously not even close to being justified as a more expensive version of something someone could actually nee/use (a regular car).
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Jul 28, 2017 16:36
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Doc Hawkins posted:I'm not an expert horse-ologist, but I am skeptical that they would enjoy the sensation of walking on marble. That's a viewing gallery for owners. The horses don't walk there.
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Jul 28, 2017 19:18
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Leon Trotsky 2012 posted:the gun was pointeed in a safe direction (except my leg was obviously in the way). This is my favorite post of the day.
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Jul 29, 2017 03:46
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monster on a stick posted:I don't know how to stop, I don'tknowhowtostop Stop buying candles. No.
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Jul 31, 2017 23:40
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ate all the Oreos posted:I was all excited after a bunch of people told me that at 25 "your insurance rates go down!" like it's the last official 'becoming an adult' thing you can do That hasn't been a thing in a long time. Like since actuarial calculations made their way into Lotus 1-2-3 long time. Anecdotal evidence may indicate that it happens, but that's just because the real numbers say that most people who are either very young or old drivers suck at driving. Since the real numbers are nearly instantly calculable they use those rather than "you are 25! Let's give you a rate change!"
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Aug 24, 2017 07:32
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Elephanthead posted:I thought this thread was about $500 blenders. Ahem, $500 proprietary juice presses that require a monthly subscription. Not blenders....those would be much too useful and too difficult to DRM lock.
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Aug 30, 2017 06:17
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Colin Mockery posted:I don't see why you feel the need to be a huge douchebag with the "he/she/it" garbage, though. Probably because this is exactly the kind of thing that triggers TB (and it's coming from someone who can stomp her again), and she has the tendency to get on people's nerves in between the few actual good posts she makes. I generally like TB.....and then there it a TB tirade that makes me completely forget anything useful she's posted. I get it.
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Sep 1, 2017 03:32
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Moneyball posted:I don't know anything about that poster's identity Poster is a dinosaur. A small one of indeterminate breed. Hope that helps.
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Sep 1, 2017 03:49
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NancyPants posted:Uhhh... More likely they need time to refresh their "actual money" coffers with the money of larger fools in between cash outs.
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Sep 2, 2017 18:55
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22 Eargesplitten posted:Is this about the money limit to avoid paying taxes, or something else? No. Taxes are due even if he only made $1 on it. This is about federal reporting requirements. Transactions of $10k or more currency require a CTR to be filled out, and it's illegal to "structure" transactions to avoid this. It's largely about money laundering if I recall.
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Sep 2, 2017 19:04
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Solice Kirsk posted:Yup, and I used "cash" incorrectly so added to the confusion. Which is why I said "CTR" and "currency." In any case, we're on the same page here. It's not like they're a bank that knows how much they have on deposit and can (or are regulated to) have a specific cash reserve when anyone can literally just throw the "asset" they are supposed to be covering into their exchange from another exchange or any drat wallet at all in minutes.
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Sep 2, 2017 19:42
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Solice Kirsk posted:Huh, I always thought horses slept standing up for some reason. I learned something today. Most of their sleeping is done standing up, being prey animals and all. They lay down like that if they feel safe enough for REM sleep which they do require regularly. They will go even more nuts than usual from REM sleep deprivation if they are in a situation where they don't feel safe enough to do it an extended period of time.
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Sep 3, 2017 19:51
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Ralith posted:Investing in a company is not giving money to the company. Your money is given to other investors in exchange for their fractional ownership; no more and no less. That's a very simplistic and one sided view of things. Yes, if you are buying public company share on a stock exchange this is PROBABLY but not always what is happening. Companies both public and privately held often issue stock to raise capital (i.e. "equity funding").
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Sep 5, 2017 17:36
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therobit posted:He probably did not get a very good education. I know people who are borderline illiterate who managed to get a high school diploma and find a decent blue collar job. In some cases that had learning disabilities that were not diagnosed and in some cases they just never took to school. Having poor grammar and spelling and using weird not-words do not always mean somebody is dumb. Sometimes it means they had challenges and didn't have the support they needed to succeed in the classroom. Truth. One of my very good friends is a carpenter. The kind of carpenter that builds or works on several million dollar homes. His father was afraid he wouldn't even graduate high school because of what he described as "learning disabilities". This guy does so much math in his head "by feel" when it comes to building that I feel like an idiot when he's helping me with something. Calculating angles when birdmouthing joists, etc.....it's 100% natural to him, yet he thinks he "sucks at math." Not everyone learns the same way, and not everybody even needs to understand they are doing math when they actually are. He totally sucks at spelling and will write words like what is being discussed. Phonetically in a philadelphia regional accent. He had all the educational opportunity you could hope for in a public school. It just didn't "take" the way it does for most.......he definitely needed other help that the school district/his dad couldn't figure out no matter how much they tried. Despite that he got out of it what he needed. Dude is a master at his craft and is in demand. He's an all around good guy and you just need to realize it's easy to categorize people as dumb/useless from poo poo like that but it's definitely not always the full story.
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Sep 8, 2017 01:56
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Krispy Kareem posted:the importance of the C in CPA This is actually a really big deal. Because while you will still owe the money if a shady CPA is taking liberties you are at least seen as putting forth best effort if something is wrong (as far as I understand). This does not absolve you from providing false or misleading information to your CPA.
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Sep 11, 2017 00:31
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April posted:This is the good stuff: I found a new one in the comments: My benifits are expensive. Health insurance is ~$130/pay (not including dental, vision, life, disability, etc.). Plus 2 401K loans @ ~$50/pay and my week of purchased vacation (~$26/pay). I only put 5% into the 401K (what my employer matches). The rest is taxes (local, state, and federal).
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Sep 13, 2017 18:18
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canyoneer posted:The only one I've seen that makes sense is for pharmaceuticals and counterfeit drugs. There's some big resources getting spent around it. Why? They are produced by a known source if they are legitimate. Why do you need BLOCKCHAIN TECHNOLOGY to store lot numbers, and how does this prevent counterfeiters from simply using the same lot numbers?
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Sep 14, 2017 20:03
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canyoneer posted:I'm not a pharma industry expert or a supply chain expert or a blockchain expert, but I work with some of those experts. Maybe I'm too stupid to figure it out, but I'm failing to see how a blockchain is necessary when all of this comes down to inventory/supply chain management. Secure, auditable ledgers are already a thing that don't require idiotic amounts of wasted processing power doing "proof of work" calculations that serve no purpose other than to inefficiently commit transactions to the ledger. If the companies themselves can't be trusted to maintain the integrity of the ledger the FDA should give clear guidelines on just how arms-length a service provider would need to be and/or create the system themselves and compel everyone in the supply chain to participate.
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Sep 14, 2017 21:34
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FrozenVent posted:Not really seeing how a block chain does something a database doesn't. Bar codes and RFIDs have been a thing for a while now. The only thing I can see is transactional integrity (in theory) - can't roll them back. But of course you can if you control most of the processing power on the blockchain. This type of integrity has been a solved problem for a very long time now. Once ink on paper ledgers weren't fas of flexible enough people were literally leaving a line printer in a secure room putting ink on paper as each transaction posted. There are more software solutions to that now, but honestly it's still not a bad idea.
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Sep 14, 2017 23:09
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Lease Option Loan? https://www.reddit.com/r/personalfinance/comments/70a426/lease_option_loan/ quote:Is it possible to get a loan for a lease option agreement down payment? What are some alternatives?
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Sep 15, 2017 15:27
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How long before contacting radio ad to clear credit card debt? https://www.reddit.com/r/personalfinance/comments/70a8ro/how_long_before_contacting_radio_ad_to_clear/ quote:I heard an ad on a radio that said that you don't have to pay your credit card debt. I already had a lot of debt, so this sounded good. I maxed out the cards I had left with some stuff that I needed to get the most out of it.
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Sep 15, 2017 15:45
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Buying a New Phone https://www.reddit.com/r/personalfinance/comments/70jshs/buying_a_new_phone/ quote:I was looking into buying a new phone, more specifically the note 8. As of now Samsung has a pay as you go plan ($34 a month for 2 years 0% APR) It's a $999 a phone. I currently work at a local pizza joint where I make 10$ an hour 5 days a week (220 hours estimate). Is this a good decision to make or should I not go for it?
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Sep 16, 2017 23:51
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Uterine Lineup posted:It's hard not to bold this whole post. This is a caricature of the nightmare entitled, lazy, delusional SO and has to be a troll. It hits every last hot button. Some of the comments are just great.
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Sep 17, 2017 16:13
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BEHOLD: MY CAPE posted:I think it sounds like a troll but r/realestate isn't exactly a super hot high traffic sub so who knows It started out in /r/pf and was blasted out of the sub. https://www.reddit.com/r/personalfinance/comments/70fa8g/my_bf_and_i_are_buying_our_first_house_together/ Some more great comments from the OP in there. In regards to: and what sacrifices are you making? quote:We go out to eat a lot, I agreed that we'd only go out twice a month and on special occasions. And he'd be working a lot, and a house is a lot of work, I already know that, so I'd be taking care of a lot of stuff around the house when he's not there. And managing all the bills. And be around when repairmen or whoever need someone there to fix things. And being without him around and by myself bored while he's working even more hours than usual because he said he'd have to start trying to work more overtime if we were going to do this. Just to name a few. This is coming from someone who lives at home and apparently too morbidly obese to get a job. The entire thing reads like a combo r/pf r/relationships bingo game. Motronic fucked around with this message at 19:03 on Sep 17, 2017 |
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Sep 17, 2017 19:01
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I present the thread with more weapons grade BWM to get it back on track: Wife Cheated / Is Leaving I'm Screwed https://www.reddit.com/r/personalfinance/comments/70s4yy/wife_cheated_is_leaving_im_screwed/ quote:I recently took a job that took my pay from 25 an hour to 17 an hour with amazing benefits. My wife's daughter is a type 1 diabetic and it made sense.
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Sep 18, 2017 03:43
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Just in case I got you another one: What Is My Best Option To Get Out of This Financial Mess? https://www.reddit.com/r/personalfinance/comments/70s7ts/what_is_my_best_option_to_get_out_of_this/ quote:Hello, Me
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Sep 18, 2017 03:54
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Help! We're buying a food truck and we're in brand new territory! Advice/suggestions/help not losing our footing financially? https://www.reddit.com/r/personalfinance/comments/70wzc4/help_were_buying_a_food_truck_and_were_in_brand/ quote:Hello!
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Sep 18, 2017 19:55
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Subjunctive posted:Yeah, I take 5 pitches a week and that got a double take out of me. I knew this was weapons grade BWM, but feel even better if it got that reaction out of you.
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Sep 19, 2017 04:16
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Zo posted:lmao yeah this is gonna be literally everybody you know, including all the peasant you deem worthy of tossing a couple nickels at, and they'll all resent you for not giving them more. this is what happens every single time. it's extremely well documented. This seems quite appropriate to put here: https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb38xf/
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Sep 21, 2017 01:15
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