Do Creditors Have to 1099 You??????

[Brighterdays]

I guess you just don't get that BK doesn't work for everyone.

First, there is a magical date around the 120 day mark. Having red hundreds(maybe even a thousand) of posts on the subject, It is clear that the original debt holder would rather get 40%,30%, and 20% from me, before they sell the uncollected debt to a collector for 5% or less. Its simple math for them. As for me, I can't file BK, at least for a year and maybe 2 or more. I need to avoid lawsuits as I have cash coming in at some future point. Hell I will stick the money in my mattress if I have to. But more than likely I will get more gold, guns and bullets.

Second, You are thinking to small. They really don't care where you get the money, its a numbers game to them. They don't have the resources to track the Millions of deadbeats like me. Do you really think they review each case and go gee I wonder where he got that $2,000 or do they go well at least we get something.

Lastly, I look at this as low point in my life. Unlike some I plan to climb out of the hole as soon as possible. I will get a job, I will clean my credit up and I will become an intergral part of society again. I am looking for the quickest way out. I understand some might cc companies not play ball. I will deal with them on a case by case basis. Remember bankruptcy doesn't work for everybody. Hell, if I could file I certainly would.

[Brighterdays]

I guess you just don't get that you don't know enough to tell me what I don't "get".

Your sentences here fully sum up your complete misunderstanding of how debt and collections works:
"First, there is a magical date around the 120 day mark"..... "It is clear that the original debt holder would rather get 40%,30%, and 20% from me, before they sell the uncollected debt to a collector for 5% or less. Its simple math for them."....."I need to avoid lawsuits as I have cash coming in..."..... "They really don't care where you get the money, its a numbers game to them. They don't have the resources to track the Millions of deadbeats like me. Do you really think they review each case and go gee I wonder where he got that $2,000 or do they go well at least we get something."

I was going to take the time to correct what you don't know, but screw it, you want to be rude and a (not) know-it-all fine. Only a few posts ago you were asking for opinions on your so called "plan", but now you have nerve to tell me how it works, its simply laughable. You have no idea what "120" days even means, apparently its just a number you made up.

Good luck, you need it.

Dude, you are the rude know it all. All I was doing was correcting your lack of knowledge. Everything I stated was true and accurate. By your own admission you were offered a better deal from you CC company. Yes I was asking for opinions, not a sermon. I have been researching my options for some time now. You are so gung ho on Bankruptcy, that you dismiss every other opinion and option. You can keep being a dead beat for another 500 days if you want, but I have more respect for myself than that and want to get this over with, clean my credit up and move on.

With that said, No Repy Neccessary as I have put you ignore, especially with advice telling me to take my inheritance and blow it on a drunkin las vegas gambling spree. Yeah that is great advice. I am just looking for help here, not start a fight. I was just looking for others who have settled for pennies on the dollar.

[Flamingo]

This thread has run its course and is being closed. Forum rules state: "All BF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BF you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed."

This forum has a PM option and blocking if posters disagree. Please read the forum posting rules which are at the top of every forum. Continued personal attacks will not be tolerated and can result in warnings and being banned from posting.