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so do many people do dodgies with mercedes involved? like buy one when they clearly cant afford it to become intentionally bankrupt?

You can also be forced into b/ruptcy by a creditor, not to mention most people don't intend to go b/rupt, they have a situational change. Also if they cant afford it at application they wont get the lend (in theory) and laws are pretty strict on lending these days. Also don't forget it cost's money to declare b/ruptcy

Rather than accepting payment terms of say 20cents in the dollar, they say no thanks Jeff. Rather than receive any money we would rather send you bankrupt and get nothing lol

yup we do it all the time. It's more about appearance to other customers than the particular customer involved. If it got out that we would accept 20c / $ on the regular, then all that happens is that everyone offers 20c / $ with the mindset that we will accept it. Hence it's better to take nothing and let the cust go b/rupt and deal with the consequences, then take the higher offers from future b/rupt customers

doesnt work that way, if bankrupt you cant have assets worth more than XX and you cant have an income higher than XX per year.

Not to mention travel restrictions, can't be a CEO, listed on NPII index as a former b/rupt for 10 years etc etc.

and the real kicker... you major creditor has to accept your bankruptcy / insolvency request... we can still say no.

f**k i had a bad credit rating listed with GE for a 1200$ debt .....

I would have been better off declaring bankruptcy cause 11 years later with me trying to do the right thing and with the entire debt paid in full about 5 years ago...

I still have a bad credit rating cause of those motherf**kers..!!!

while my muppet mate who got a 20k car on finance, paid nothing, wrote off car, declared bankruptcy, has been free and clear for some time now...

I got a video ezy fine the other day for $40 which I don't intend on paying

For an overnight movies which I borrowed for $6 because they were returned 1 day late. Might get a bad credit rating out of that!

I got a video ezy fine the other day for $40 which I don't intend on paying

For an overnight movies which I borrowed for $6 because they were returned 1 day late. Might get a bad credit rating out of that!

lol...I left a video with a friend oneday when I dropped her off outside the video store, she said she returned it..few weeks later 120$ bill..... :glare:

I confronted her about it and her excuse was "yeah it was too far out of my way" wtf i dropped you off practically at the front door you dopey troll

anyway never paid

I got a video ezy fine the other day for $40 which I don't intend on paying

For an overnight movies which I borrowed for $6 because they were returned 1 day late. Might get a bad credit rating out of that!

wtf no wonder everyone just downloads that shit these days

i'll give those video places till 2015 till theyre all out of business the older generation slowly dieing off

I went to school with a girl who's dad worked in head office of Blockbuster Australia and she said they were going bankrupt? (This was in 2010).

I know a few franchises went bankrupt but not the blockbuster corp, at least I don't think

Yeah ignore my perfect extension of lending them money in the first place. Do you feel like a man now, Hamish?

look at the time codes... you posted that as I was replying ;)

nice analogy birds :P

f**k i had a bad credit rating listed with GE for a 1200$ debt .....

I would have been better off declaring bankruptcy cause 11 years later with me trying to do the right thing and with the entire debt paid in full about 5 years ago...

I still have a bad credit rating cause of those motherf**kers..!!!

while my muppet mate who got a 20k car on finance, paid nothing, wrote off car, declared bankruptcy, has been free and clear for some time now...

you wouldn't have been better off... a savvy banker can see that you are a former b/rupt for life.

also give me more details, if the debt was paid in full it should be listed as settled which is only a 5 year listing from the date of the initial listing, which should have been approximately 100 days after the product charged off (you stopped paying)... not the date of the settlement.

I'd imagine it's either a mistake on GE's behalf and you were automatically listed twice, or you were listed for something else and you have assumed it's GE have as you know about that debt. Have you had a Veda report confirm it's from GE? if so PM me the results and i'll see what advice I can give

as for your mate, I'd assume he didn't actually declare full b/ruptcy (Part IV) for $20k (while the minimum is $5k it is rare for amounts under $100k unless it's forced. It's more likely he either:

  • entered into a part IX personal insolvency agreement, and paid back a percentage of the debt over time
  • told the bank he was bankrupt when in fact he wasn't and the agency that bought the debt hasn't caught up with him yet
  • had the debt written off due to some technicality
  • he's not actually free and clear and if he tries to lend with someone that performs a credit check he will be knocked back
  • it's been over 3 years and he was lucky enough to cop a lazy banker
  • he has leant from a second tier lender that specialises in customers with debt agreements

I got a video ezy fine the other day for $40 which I don't intend on paying

For an overnight movies which I borrowed for $6 because they were returned 1 day late. Might get a bad credit rating out of that!

nope. Illegal to list for amounts under $100

haha GE are ruthless,

As the big man Hamish said if its paid and your getting knocked back its a huge mistake on GE's behalf or there might be something else you might of been done for and not known about it.

Listing is 5yrs min 7yrs max... 11yrs down the track, and paid... i'd say Veda report check.

If paid and still listed by GE ... call GE and get them to update there sh*t

You should be in the green and have a perfect credit rating if paid and 5yrs have gone by.. or 11 haha... no one should be able to even see it but GE

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