4 ms·

This is really tragic. For one, he never ended up that much in the hole and two, even if one finds themselves bankrupt at 20, it's not the end of the world, you

This is really tragic. For one, he never ended up that much in the hole and two, even if one finds themselves bankrupt at 20, it's not the end of the world, you simply file bankruptcy and it's difficult to borrow money for the better part of a decade...but other than that your life goes on as normal. I opened a business at a young age and was bankrupt by the time I was 24. It was sad and painful, but it is far from tragedy or hopelessness.

seph-reed 6y ago
Depression is a serious problem these days. I imagine this was just the last straw. But if not... that would also really suck.
- skinnymuch 6y ago
  The last straw even if they knew the loss was how much they put in too? For now, we don’t know if the person knew they weren’t that much in the hole or relatively speaking, how benign a huge debt would be at a young age without dependents.
skinnymuch 6y ago
Is it that difficult even after 5 years if you’re making a solid income etc? I’ve heard differing tales. On one hand it sucks for close to or about 7 years. On the other, you can start to get back to being normal after close to 5 years or so. My memory remembers something like it’s not the same, but likely better than someone with a 5XX credit score.
- selectodude 6y ago
  Generally you can start getting credit pretty quickly in the form of secured credit cards. You’re going to pay a pretty high interest rate on things like cars but after a few years, the fact that you can’t file for bankruptcy again for seven years overrides the fact that you filed for bankruptcy.
autokad 6y ago
while I do think robinhood should have better interface / logic, I see this as an issue with the person who committed suicide. Everything you said + the fact they thought it was a better option to kill themselves instead of contacting robinhood? finding out what their options were? (not trying to pun) > "His final note, filled with anger toward Robinhood, says that he had “no clue” what he was doing." yeah, that's true on so many levels. people will try to use stories like this to take freedoms away from everyone else to 'only let the experts deal with it'. at the very least though, I suspect robinhood will fix that particular interface issue.

seph-reed 6y ago

Depression is a serious problem these days. I imagine this was just the last straw. But if not... that would also really suck.

skinnymuch 6y ago
The last straw even if they knew the loss was how much they put in too? For now, we don’t know if the person knew they weren’t that much in the hole or relatively speaking, how benign a huge debt would be at a young age without dependents.

skinnymuch 6y ago

Is it that difficult even after 5 years if you’re making a solid income etc? I’ve heard differing tales. On one hand it sucks for close to or about 7 years. On the other, you can start to get back to being normal after close to 5 years or so. My memory remembers something like it’s not the same, but likely better than someone with a 5XX credit score.

selectodude 6y ago
Generally you can start getting credit pretty quickly in the form of secured credit cards. You’re going to pay a pretty high interest rate on things like cars but after a few years, the fact that you can’t file for bankruptcy again for seven years overrides the fact that you filed for bankruptcy.

autokad 6y ago

while I do think robinhood should have better interface / logic, I see this as an issue with the person who committed suicide. Everything you said + the fact they thought it was a better option to kill themselves instead of contacting robinhood? finding out what their options were? (not trying to pun) > "His final note, filled with anger toward Robinhood, says that he had “no clue” what he was doing." yeah, that's true on so many levels. people will try to use stories like this to take freedoms away from everyone else to 'only let the experts deal with it'. at the very least though, I suspect robinhood will fix that particular interface issue.