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he may be your friend but he also may not be telling you everything. there is a reason why hes only paying the minimum after already paying off the 30k. if hes buying all these expensive suits and watches ect then he cares about his image and if hes spent all of his money he might not be telling you because he doesnt want it to get out. there has to be something going on.
im not trying to be rude or disrepectful. if im coming off that way then im sorry because i dont mean to be. just trying to figure out what your friend is thinking
@enharu wrote:
@09Lexie wrote:
While this situation raises several alarms; let's remember to be respectful and supportive of each other -friends too.
Thanks!I'm certainly not trying to be disrespectful or rude. Sorry if it came off that way. I just figured it's best to be honest and down to earth about his situation, even if it means getting the message across in a not-so-nice way. There's really no sugarcoating certain stuff, such as fraud.
The story itself is somewhat flawed, or that the "friend" is just not too bright (to put it in a nicer way). 100k in balances (doesn't matter where it came from. My guess is that it came from his parents), which probably is making less than 1% interest per annum, and he rather drag high balances and pay interest on some cards that doesn't have any 0% promo. There's really no reason why he isn't using that 100k to pay off that card, unless that 100k that he has isn't meant to be spent (such as parents putting money with him just so he has liquidity in the event of an emergency). This is too
stupidridiculous to be true.
Anyhow, given the situation he has put himself in, it's best he pay off all those balances with his "100k balance", close the Amex accounts, and walk away from Amex for the near future. And hopefully, he learns his lesson and doesn't put himself in the same situation again.
I'm earning 4.2% interest in my savings account here! Returns aren't that lousy everywhere
In all fairness, he got exactly what he deserved. It's easy to be foolish with money when it wasn't his to begin with. I think everything that needs to be said has been already.
@myjourney wrote:
@Jmdurbz wrote:The 100k was given to him.
And for your information the 2012 Tax form shows 11k. So this should be interesting
WOW
picture says it all. Also if this was my son we would have a nice long "talk".
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
Best option IMO is to preemptively close the accounts. Paying them off won't make an FR go away once one has been initiated.
If he submits legitimate tax returns, AMEX will IMO without a doubt close the accounts. If he submits fudged forms, he is committing a further instance of fraud.
@Jmdurbz wrote:
the amex guy told him he is asking for the tax papers because he couldnt get them from the government because of the shutdown. almost seems as if they were going to close the accounts swiftly by their own.
we will see what happens. hopefully for him they give him lower credit lines , and a stricter spending limit. but it looks unanimous on here that you all think he is going to get the accounts closed.
i sent him this thread to read... hes more nervous now.
I personally don't believe it will be as bad as everyone is making it out to be. Maybe he shouldn't have lied, but it's not as if he has balances that he cannot pay off. As long as he has some income and maybe show bank statements the accounts most likely will not all be closed.
@Jmdurbz wrote:
the amex guy told him he is asking for the tax papers because he couldnt get them from the government because of the shutdown. almost seems as if they were going to close the accounts swiftly by their own.
we will see what happens. hopefully for him they give him lower credit lines , and a stricter spending limit. but it looks unanimous on here that you all think he is going to get the accounts closed.
i sent him this thread to read... hes more nervous now.
Sounds shady. No lender can pull your tax return transcripts without a signed 4506T, and those expire - they do not remain active in perpetuity. If he hasn't already given them a recently signed 4506T, they have no ability to pull his tax returns on their own. Shutdown or no shutdown.
I'm earning 4.2% interest in my savings account here! Returns aren't that lousy everywhere
In all fairness, he got exactly what he deserved. It's easy to be foolish with money when it wasn't his to begin with. I think everything that needs to be said has been already.
Can you let me in on your secret, I'm only getting 1% on my savings.... I need get on your plan!
@Elcid89 wrote:Sounds shady. No lender can pull your tax return transcripts without a signed 4506T, and those expire - they do not remain active in perpetuity. If he hasn't already given them a recently signed 4506T, they have no ability to pull his tax returns on their own. Shutdown or no shutdown.
Perhaps that's what the representative meant. Since the goverment is on holiday, they can't access the tax records even with the form, so the customer could send them to get around that.