Comment on take out a huge loan

• DrDystopia@lemy.lol ⁨22⁩ ⁨hours⁩ ago

  Dang, why not.

  source

  • lolrightythen@lemmy.world ⁨22⁩ ⁨hours⁩ ago

    Sometimes thats the attitude it takes

    source
• Canonical_Warlock@lemmy.dbzer0.com ⁨22⁩ ⁨hours⁩ ago

  At that point why not just declare bankruptcy? If he was couch surfing then he had no assets to lose. Sure bankruptcy fucks your credit for a while but it’s better than having nothing and still having your wage garnished. That’s literally the situation that bankruptcy exists for. If you somehow get yourself in a truely irrecoverable amount of debt then it’s your get out of jail relatively free card.

  source

  • WhyIAughta@lemmy.world ⁨19⁩ ⁨hours⁩ ago

    He did go down that path but he wasn’t fully out of depression by then, as part of it he needed to make some monthly payments to the lawyer as I recall, and because he was still on the fence of offing himself he didn’t keep up with it, and once it’s filed and not followed up with, it’s harder for it to get approved in the future, so he kind of fucked himself.

    Also half of the loans were government Covid aid that he applied for even though he wasn’t eligible, he applied to everything and they sent him a lot of money because at that point in the pandemic the government was writing blank cheques that they would just follow up with and scrutinize later.

    All of that government money is not eligible to be taken care of through bankruptcy, so he would still owe half of the debt regardless.

    source

    • voracitude@lemmy.world ⁨9⁩ ⁨hours⁩ ago

      Also half of the loans were government Covid aid that he applied for even though he wasn’t eligible

      Ahh, so he did a bunch of fraud. The reason the government was writing blank cheques was because people were dying in the millions and businesses were failing left and right. He’s lucky he’s not in prison.

      I’m glad he’s doing better now, but I can’t help but think of the people who needed that money and might not have gotten it in time (or maybe at all) because of what he did. Does he ever think about that, do you know?

      source

      • WhyIAughta@lemmy.world ⁨5⁩ ⁨hours⁩ ago

        Yes he is aware of the moral implications, clearly the government wasn’t holding back assistance to anyone at the time. Let me just show him your unconstructive comment real quick so he can get down on himself.

        source

        • -> View More Comments
• hash@slrpnk.net ⁨20⁩ ⁨hours⁩ ago

  If we all did this capitalism would collapse.

  source

  • Tja@programming.dev ⁨2⁩ ⁨hours⁩ ago

    “if we all stopped working and just did drugs and hookers the economy would collapse” is not that deep of a thought.

    source

    • Ensign_Crab@lemmy.world ⁨1⁩ ⁨hour⁩ ago

      Yeah, but it being a desirable outcome is a bit novel.

      source
  • PunnyName@lemmy.world ⁨19⁩ ⁨hours⁩ ago

    Sounds like we should all do this.

    source
  • Trainguyrom@reddthat.com ⁨16⁩ ⁨hours⁩ ago

    Its all part of the risk calculation that’s made by the loan companies that make these credit offers to those deemed to be high credit risk.

    Who they really are trying to hook are people who live paycheck to paycheck and keep rotating a balance of old loan balances and newer loan balances because between origination fees, interest, late fees and any other BS fees they decide to tack on they can make absolute bank indefinitely off of folks who struggle with budgeting and are constantly one surprise away from taking on more debt. Alternatively its folks who think in terms of monthly payments and nothing else

    source
  • mkwt@lemmy.world ⁨19⁩ ⁨hours⁩ ago

    Clearly not, because $country did all this shit, and capitalism did not collapse, somehow…this time.

    source