Both my parents are Natural born Filipinos, I consider myself as one too! Its just a known fact (in the Filipino community) that Filipino salesmen will go out of their way to sell another fellow Filipino a car. Even to the point where sometimes the customer gets "upside down" on the deal. Its not a conviction, its a statement! +1 I was a "car salesman" myself back in college. I was licensed and employed at the Sheridan Toyota in Sta. Monica, Vasek Polak Porsche In Hermosa Beach and Mike Miller Toyota in Culver city. I owe a lot of my "experience" from my seniors whom were mostly Filipinos.
Ever heard of a wire transfer? $30 and you don't have to run anywhere Do it over the phone, or have the dealer do it for you. So all Filipinos are the same? Just curious
Roy said earlier that he charged Josh 3.5% for putting it on credit cards... and Josh paid that fee with another credit card! At 3.5%, I don't think getting the miles is worth it. I've looked at buying big ticket stuff on credit cards (or Amex) for that very reason, but the math never made sense to me. However, I have bought a car with a credit card! So I guess I speak with some authority on the matter. Of course, it was a '62 Rambler, and only cost $400 (plus a hamburger for the salesman).
Anybody who buys a '62 Rambler deserves special recognition and duking the salesman a hamburger puts you in a class all of your own. Bravo!
If the math worked out to our advatnage the companies would'nt offer it.....I use to pay for everything with my Discover then pay the bill in full at the end of the month so I would still get back my 1% check at the end of the year....They caught on and changed the cashback rewards after a couple years. My grandfather bought his Lincoln pickup on his CC, but then again he only used one card and it did belong to him
Based on their current political situation, there are two types of Filipinos. The corrupt and the ultra corrupt!
I know it has been said not all of the 10 credit cards were owned by Josh. I am really curious though.. how many does he have? I personlly only have 3 Visa and 1 Amex and I think that is too much. I really only use 2 frequently. How/Why would you want so many? Did he have Walmart Visa, few bank branded Visa, Playboy Visa and the like? My other question would be, if you consolidated all 10 Visa would Josh be able to get a BLACK AMEX???
In California you have to show proof of insurance before you register a car. So yes, a vehicle can absolutely be insured without registration.
Yeah, Rory, the easy question was an easy "Gimme" - just so he'd ANSWER THE OTHER SIMPLE QUESTIONS. Reverse Child Psychology 101
What happens if you put a large purchase on 9 CC's and never pay on any of them? They all come after you and you file personal bankruptcy. You hold the title to an expensive car without a single lien or loan, just 9 CC debts. What happens to the car? Who can claim it in a bankruptcy? Just curious
the new bankruptcy laws limit the VALUE of the one car you can keep...I believe it to be somewhere in the 9k range...however I am not positive on the amount...they also make it a mandatory chapter 13 if you earn over 2500 per month...which means you're not forced to repay your unsecured debt even if you want to skate on the bills...in a case like this, the court would force the sale of the car and use proceeds to pay the secured creditors first, then unsecured last. The changes in the banko system make it very difficult to abuse the system like many did up until 2007.
The smart thing would be to put it in someone else's name but then if they are smart they will charge fraud.
what's going on? I logged in this morning and only had 3 pages to catch up on. surely this thread isn't running out of steam!
You guys are like a credit company's wet dream. Like the credit card companies have ANY recourse. Like by signing the charge you've applied for a secured loan, or they can some how force you into bankruptcy. Let me tell you what would happen if you charged up every one of your credit cards and then blew them off tomorrrow. You'd have collection agencies calling you night and day till you changed your phone number, and sending nasty letter to your house till you moved. Then they'd get charged off and 7 years to the day from the date of the default they would disappear from your credit report forever and then the same exact credit card companies that charged off your debt would be mailing you another pre-approved offer to get another credit card from them. Because the CC companies are as dumb as they are greedy. And the chance that they could EVER recover a single asset that you bought in whole or in part with the credit cards is probably on the order of 1 in 1,000, or 1 in 1,000,000 if you have a decent attorney. Have you ever applied for a car loan or lease, and seen the massive paperwork to fill out? Legal size contracts running 6 pages DOUBLE SIDED, initialed in 20 places and signing everywhere. They take a COPY of your driver's license. THOSE people and companies have recourse. Compared to: You get a postcard in the mail, it says "You're pre-approved for at least $5,000 simply sign here" you sign it and mail it back, card comes in the mail, and you goto town with it. Who in the hell says YOU were the one that ever even signed that little postcard? There's a million snafu's in the credit card arena and THAT is why they changed the bankruptcy laws. Because every person who has a credit card has techincally no obligation to pay those monies back. I'm not going to get into it all but the final slap in the face to credit card companies was the loss of the very last little string of hope they had that they could maybe negotiate with you to get even pennies on the dollar, and that is bankruptcy. So they forced the change in the law so they could at least get .05 on the dollar for what you owe them and not see the whole amount wiped away LEGALLY in bankruptcy. Because the credit card banks and collection agencies know that as long as you don't have the judge's decree discharging the debt, at least they have a TINY sliver of hope that they can harass you and get at least a few pennies back from you. Think about it... If you indeed had a Lamborghini Gallardo you owned with the title (Josh excluded as his car is gone) and you had the car and the title, but a mound of credit card debt. You would be A FOOL to declare bankruptcy as the first thing the judge is going to do is exclude the car and order it liquidated, and then you'e got no money, no car, and no credit because you're bankrupt. No, you keep the car and tell the credit card companies to suck it. Even send them a picture of you in your car, there's nothing they could do. Then yes you're credit is weak but SO FRICKIN WHAT, because if you ever need credit cards, simply setup a lien in whole or in part against the asset you own FREE AND CLEAR, and there a thousand bank that would happily set you up with money and a credit card in exchange for a phat piece of equity in your fancy sports car. You'd have to ride it out for the 7 years with a mix of good debt and discharged debt, but there ARE companies out there that really do credit fixing. It's complicated and not cheap, but it can be done, and I've seen it done. What happens is that the bad debts either are disputed so hard that they permanently goes away from your credit report, or goes away temporarily, but all you need is a 30-60 day window of all your bad debt disappearing from your credit report with your good debt remaining, including the load/credit line liened against your fancy car you've been faithfully paying, and the next bank pulls your credit report and sees nothing but good debt, and hands you another credit card or loan. A month goes by and the **** debt goes back on your report, but whatever as in 7 years all the bad debts will have expired leaving just all your open good standing credit lines, and it's as if you never even had a credit problem. If you actually had enough credit cards to buy the Lambo in full, well that's one free Lambo for you. The only way you would ever be charged with 'fraud' related to credit cards is if you illegally used someone else's card, or engaged in identity theft. But if you're really you, and really using your own cards, the credit banks are up sh*t creek wtihout a paddle, and you're just a number in their system, #1,044,933 out of 7,543,456 people defaulting on their credit cards this month. Buying something on a credit card and giving it to someone else has nothing to do with fraud. It's a gift. And gifts are the #1 item bought with credit cards, and also the number one reason the banks never recover anything. Because after you went Christmas and birthday shopping for everybody, there's not much to recover. Big screen TV or Lamborghini Gallardo..doesn't make much difference. Doesn't make much difference if you wrap it up in a box or sign over a title. It's only if you were to DECLARE bankruptcy is all that stuff going to slap you back. Because it's called Fraudulent Conveyance. But if you simply do it without the bankruptcy the legal line to fraudulent conveyance, on the part of a credit card company, is going to be the Appalachain Trail for them..they'll never finish the journey. If you get a car loan and don't pay it, they'll eventually repo the car and you'll likely never get it back, even if you started to make payments again. If you buy a car using several credit cards, which bank would get priority over the others? None of them have a secured interest in the car. Even if they eventually put it all together, and one of the CC banks tried to take the car, all you would have to do would be to start making payments on that specific card again, and that would flip the clock right back to square one on them.
I'm in. by the way, can you name a few credit fixing companies? if you get a equity line on your house, can they pull it if your credit goes in the ****ter?
I get what you're saying! what you're saying is 360spider is a smart deceiving fraudster who bought a gallardo on 9 cc with the intention of possibly never paying it back, and knows the credit card company can't do much about it too. then makes more sense when he demands a cash payout now isn't it? thank you for clearing things up. very helpful indeed.
