Friend owes Party money - info needed(longish)

[DeezNuts]

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It's not like he hurt someone else

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Get your head out.

If stole I 4.5k from a business you frequent, would you consider that to be a victimless crime?

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He defaulted on a short-term loan, which probably has a much higher than normal default rate. After reading these responses, I am sure that this is built into their business model.

He will be paying back the checking account balance and will pay the penalty(never playing on Party again).

I don't understand how people can get all up in arms about not being able to pay Party back. I hardly think of it as theft. Please get down from your soapbox.

DN

[pipsqueak]

I know someone who went in the hole over $5k to Party, bailed on it (closed down his bank account and opened another)and nothing ever happened (a few threatening emails, but that's all). This was over 2 years ago, and he's free and clear. I'm not condoning this, just letting you know what happened.

[Jeffage]

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I hardly think of it as theft.

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Please, he wrote a bad check for an amount he couldn't cover. That's theft.

Jeff

[elliot]

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Please, he wrote a bad check for an amount he couldn't cover. That's theft.

Jeff

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quoted for truth.

[betadecay]

well it's theft, and it's black and white theft. But that is besides the point.

I'm amazed your friends rent is 1k!! 1k!! any single guy in any town in the country(except NY) could comfortably live for less then 1k a month. He should be able to squeeze by with an 800 dollar monthly budget(that's even being a little generous). Especially if he has no car payment.

Sounds like a moma's boy upper middle class upbringing though, so that might be hard for him to swallow. He needs to sell his car and get a crappier car or even a bike! You can get a 1990 nissan pickup for less then 2 grand. It will get you everywhere and the gas and insurance is cheap. I say nissan pickup because at least this will allow him some face to look like the rugged blue collar guy as opposed to the broke sissy gambolaholic who had to sell his car and by a beat up 91 tercel.

If he lives in berkeley he should be able to get by with a freaking bike! Take bart dude. what is his monthly income? and what kind of car does he own. I think this problem is solved pretty easy. Rammen noodles, beans, rice, eggs, cabbage, water and the occasional splurge on a banana or strawberries or maybe a walmart 25cent soda. All the stuff you need. Sell the car, get a studio, go on this diet and depending on the value of the car and his income, he should be ok with in a year. 1 year, that is so nothing.

[MNpoker]

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Please, he wrote a bad check for an amount he couldn't cover. That's theft.

Jeff

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quoted for truth.

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Quoted for the quote of truth.

Department stores expect a certain amount of shrinkage in inventory. Should I be able to steal up to that amount without it be called theft?

[LinusKS]

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If he lives in berkeley he should be able to get by with a freaking bike! Take bart dude. what is his monthly income? and what kind of car does he own. I think this problem is solved pretty easy. Rammen noodles, beans, rice, eggs, cabbage, water and the occasional splurge on a banana or strawberries or maybe a walmart 25cent soda. All the stuff you need. Sell the car, get a studio, go on this diet and depending on the value of the car and his income, he should be ok with in a year. 1 year, that is so nothing.

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Yeah. Could be the best thing that's ever happened to him.

Nothing to be depressed about. Time to grow up, and learn to live like a man.

[Wake up CALL]

A bankruptcy filing will no longer eliminate his credit card debt, the BK laws have changed as of Oct 17th 2005. Your "friend" won't be sleeping well at night for many years to come.

First he will be required to attend credit counseling before any debt relief will be considered. Depending on his income he may not be eligible for a Chapter 7 filing and may be required to file under Chapter 13 which requires a repayment plan for some or most of his debt. Essentially a "means test" will be applied to his current/recent past income. If the court determines that he has at least $166 per month to spare after paying for his essentials he will not be allowed to file under Chapter 7.

An attorney for a Chapter 13 filing will cost him more as well, more debt for your "friend". The court may require a repayment plan that uses more than his initially computed leftover ncome. This means he will need to lower his standard of living to comply. The property he will be allowed to keep must be valued at replacement cost so he gets to keep very few of his current posessions.

Other than these few wrinkles I think your "friend" will love filing bankruptcy.

[DeezNuts]

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well it's theft, and it's black and white theft. But that is besides the point.

I'm amazed your friends rent is 1k!! 1k!! any single guy in any town in the country(except NY) could comfortably live for less then 1k a month. He should be able to squeeze by with an 800 dollar monthly budget(that's even being a little generous). Especially if he has no car payment.

Sounds like a moma's boy upper middle class upbringing though, so that might be hard for him to swallow. He needs to sell his car and get a crappier car or even a bike! You can get a 1990 nissan pickup for less then 2 grand. It will get you everywhere and the gas and insurance is cheap. I say nissan pickup because at least this will allow him some face to look like the rugged blue collar guy as opposed to the broke sissy gambolaholic who had to sell his car and by a beat up 91 tercel.

If he lives in berkeley he should be able to get by with a freaking bike! Take bart dude. what is his monthly income? and what kind of car does he own. I think this problem is solved pretty easy. Rammen noodles, beans, rice, eggs, cabbage, water and the occasional splurge on a banana or strawberries or maybe a walmart 25cent soda. All the stuff you need. Sell the car, get a studio, go on this diet and depending on the value of the car and his income, he should be ok with in a year. 1 year, that is so nothing.

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Ok, fine, it's theft. This is not really a relevant point and doesn't matter to me.

His rent could definitely come down and he could cut back on a lot of things. It's the action that needs to happen.

It definitely is a case of upper-middle class spoiled kid that doesn't know how to handle adversity and doesn't want to try(although I could be accused of the same, but that's neither here nor there). I am linking him to this thread, hopefully he will take something away from it.

DN

[LinusKS]

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A bankruptcy filing will no longer eliminate his credit card debt,

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Yes, it will.

It'd be sort of pointless to file BK otherwise, wouldn't it?