4 ms·
What a shame he was young and irresponsible when this happened. It could have been a truly epic story had he done something interesting like take out the money,
by CPLX 10y ago
What a shame he was young and irresponsible when this happened. It could have been a truly epic story had he done something interesting like take out the money, invest it in something like income producing real property or a cashflow positive business, and then been able to come out ahead when judgement day inevitably came along by handing back the money owed.
- pavel_lishin 10y agoI would imagine that most people who would allocate their money that way wouldn't take the risk of continually drawing on a magic line of credit.
- morgante 10y agoI absolutely would. I'd probably call them to get some documentation that I'd tried to rectify the situation, but if they still want to keep giving me a line of credit I'd be buying up assets like crazy. You'd be a fool to turn down unlimited zero-interest credit.
- pavel_lishin 10y ago> You'd be a fool to turn down unlimited zero-interest credit. Maybe, but this guy served half a year in jail. You could probably do better if you could show the court that you're not a hapless kid buying sports cars, but it seems rather risky.
- morgante 10y agoIt's not clear how much effort he went into corroborating with the bank. I'd certainly at least call them to confirm before spending the money.
- CPLX 10y agoIndeed. Or to be even more specific, financially responsible people never find out what happens when they draw their checking account below the zero balance line.