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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (47014)	3/2/2009 4:01:26 AM
From: TobagoJack	Read Replies (2) \| Respond to of 219390

LZB about to fail, and be bailed out by future earnings of your friend, his kins, offspring, yourself, and comrades all around the world ... my guess.

To: Snowshoe who wrote (47014)	3/2/2009 4:27:17 AM
From: elmatador	Read Replies (1) \| Respond to of 219390

Friend leaves Dubai. Afraid of calaboush. Plans to default. In Dubai, if you owe money. Don't pay. You are thrown in the calaboush! (I like that it should be implemented worldiwde!) Contacted friend above over the weekend. His wife replies in Skype. He is in Brazil. I joked: Carnival away from wife. She said no. he is working is his ceramic fatory. Then we discussed the late news on Dubai debacle. she said: well, now the prices are affordable, but there are no jobs!! Then she continued: She is not sure husband will return. Owes money to banks. Money went to the ceramic factory. To pay he must sell. (I thought: but that is what is happening with everyone who invested in Brazil. They did not have money to invest. They borrow to buy there!!!) He is going to default!!!!!! I told to his wife. Be carefull not be held hostage. She said she already talked with lawyer. Wait for daughter to finish school and will leave for good. There are news of epople being held in calaboush, pay or don't leave. Am I the only guy in this planet that doesn't owe money?

To: Snowshoe who wrote (47014)	3/2/2009 4:36:59 AM
From: elmatador	Respond to of 219390

Snow my Dubai friend, liked the good life. Refrained from going to places like Elmat goes. Has a nice wife. Likes good drinks. Good BBQ. They are very good people, mind you. Intelligent, but not exaclty what you can call hard working... Spend a bit, I would say. Not much, over the top, but not tighted fist like Elmat. I think he stretched his luck too far this tiem around and most likely has got fired. I think he was fired from the company and could not pay. I don't think he ran away from the banks just like that. I had told him: Become pole-climber. (Do wireless networks). Stop relying in old technology (provided cushy jobs). He was offered management position. He refused. work in Afghanistan, Pakistan, North Africa and other "niceties"... Well, Snow the life is hard. Man has to look adversity in the eye and face it.

To: Snowshoe who wrote (47014)	3/2/2009 6:53:46 PM
From: energyplay	Read Replies (2) \| Respond to of 219390

Will the LZB leave his credit alone ? Also, check to see if this debt forgiveness will be taxable as income at federal and state levels. The Feds recently fixed this, I think.

To: Snowshoe who wrote (47014)	6/16/2009 1:07:19 AM
From: Snowshoe	Respond to of 219390

Update: lenders are madly cutting deals to write off credit card debt at 50% or so on the dollar. It wrecks your credit, but you don't get hounded by collection agencies. Same kind of deal my friend got a few months ago... Credit Issuers Slashing Card Balances By DAVID STREITFELD Published: June 15, 2009 The banks were bailed out last fall, the automobile companies last winter. For Edward McClelland, a writer in Chicago, deliverance finally arrived a few days ago. Mr. McClelland’s credit card company was calling yet again, wondering when it could expect the next installment on his delinquent account. He proposed paying half of his $5,486 balance and calling the matter even. It’s a deal, the account representative immediately said, not even bothering to check with a supervisor. As they confront unprecedented numbers of troubled customers, credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed. The practice started last fall as the economy worsened. But in recent months, with unemployment topping 9 percent and more people having trouble paying their bills, experts say this approach has risen drastically. They say many credit card issuers have revised internal guidelines to give front-line employees the power to cut deals with consumers. The workers do not even have to wait for customers to call and ask for a break. “Now it’s the card company calling you and saying, ‘Let’s talk turkey,’ ” said David Robertson, publisher of the credit industry journal The Nilson Report. more: nytimes.com