About
Relatively successful small business owner who was wiped out after the banks took down our economy.
Thanks a lot motherfuckers!
Here’s my story from my first post:
A couple months ago I made a decision – or perhaps I should say a decision was thrust upon me. I ran out of money, despite having some success at earlier times in my life. Beginning in late 2008 when business tanked I began dipping into my personal assets (such as they were) to keep the business afloat. That didn’t work out so well as business somehow, and unlike anything I’d seen before, stayed bad – it even got worse. Well my business is gone, and I simply can not and will not pay the motherfuckers back.
So I burned my bills and recorded it for posterity (watch with closed captioning on).
The day I get my first lawsuit filed against me by Chase, Capital One, Wells Fargo, BofA, or any of the other useless, skimming pieces of shit that have left me in the financial equivalent of prison, I’m gone.
This blog will last until that day. ENJOY!
Feel free to email me at: angryfutureexpat@gmail.com
angryfutureexpat
Hey there, I was referred to your site from my blog. I am posting this comment before reading all your posts so I don’t have a full understanding of your situation. I only got a quick rundown of your story but you seem like an extremely intelligent person. When I accumulated so much debt I was very angry too but realized I am just one person and couldn’t fight the system. So now I am doing exactly what I am supposed to do and tell the banks to fuck off, I don’t want to ever borrow any of your stinking money ever again.
I am sorry to hear about all your losses. But I think taking steps to resolve your financial situation and looking forward to just enjoying your life is a better idea? I think it’s good that you are speaking out but no need to turn it into hate. Don’t worry, one day all your financial situations will be settled either through bankruptcy or whatever (and that’s ok) and once you get a fresh start you will be smarter than ever.
mydebtcomeback.blogspot.com
William,
Thanks for the comment and for sending a few hits my way. I tried to post this as a response on your blog, but wasn’t able to, so this addresses both the above point, and also the comments in response to your Lincoln post. I think Bukko (on your Lincoln post) was more than a little inaccurate. I was never involved in finance, and have no particular interest in working in that sector of the economy. Also, my blog started at the end (not the beginning) of my journey through the hell of attempting to negotiate with my creditors. I haven’t written (much) about that experience because it was truly awful. I did it because I felt a responsibility to keep the doors open as long as possible and to preserve the jobs of my people for as long as I could.
To suggest that my initial response to becoming overindebted and watching revenues fall by 90% and profit go negative because of a financial and economic crisis engineered by large banks, the Federal Reserve, and captured regulatory agencies was to turn my anger “outward” rather than inward is a grotesque and, frankly, insulting caricature.
If you want to try to work within the context of a fundamentally corrupt system, and continue to send them your hard-earned money because it will make you feel better about yourself, I say go for it. But the idea that working within the system will keep you from having to “look over your shoulder” reveals a profound ignorance of how the credit collection markets work. You, not may, but will find that whatever balance you managed to negotiate down will be sold into secondary and tertiary collection markets. The next decade of your life will include threat letters attempting to collect on phantom debt that you thought you negotiated away years earlier, and, even worse, facing auto-generated lawsuits “served” on you at addresses you haven’t lived at for years.
Good luck to you, really, but I choose not to play that game.
EDIT – Check out this guy’s blog. He’s been documenting his efforts at the “pay it off” game for a year, and his debt has increased about 45K in the last year. I doubt his is an unusual experience: http://laidofflawyer.wordpress.com/
AFEP
Sorry for mischaracterizing you, Angry Future Expatlikeme! I thought I recalled from some post here that you had been in finance. That’s the trouble with assuming that I knew too much based on occasional cursory skimming of your blog, which is one of many that I check out from time to time. I didn’t mean to piss you off. I think you have an interesting viewpoint, which I share in most regards. I was whoring your blog to the guy above, who writes in a painfully honest way about the debt-based troubles he’s going through, in hopes that he might benefit from your perspective. No harm meant…
No worries Bukko. In fact, I always appreciate a little whoring out – having readers is fun! But I did feel like I needed to correct the record on that one. If Capital One, Chase, or Bank of America wants to hire me on as a “consultant” and pay me 500,000 a year, I’d happily take it, but I don’t see a future – and I definitely don’t have a past – in finance.