Owing money to a bank or the mob

[guitarnnblack]

Which is worse?
I once heard it is better to owe the mob because they will just break your bones or kill you.
The Banks will take everything from you, and leave you on the streets in debt for the rest of your life.

 

[sean miguel]

I think it's a draw.

With the banks you can always file for bankruptcy.

With the mob you can set up a reasonable payment plan that fits your budget. They're usually willing to work with you.

 

[STDiva]

I don't think the mob would kill you without first making sure they'd still get their money after you did, via family or whatever. Also, I think they'd threaten wives and children before killing you.

I'd rather owe money to the bank.

 

[luis1972]

It's better not to owe money to anyone....

 

[BlueBalls]

It's better not to owe money to anyone....

Really? Wow....

 

[Mr. Daystar]

When I played the 3 and 4 digit numbers on a regular basis...I always played with a bookie. I trust the mob more then the state government. You made less, but they didn't tax you...and they paid promptly. As far as owing money, that's a toss up....I think STDiva makes a really good point.

 

[Rey C.]

Easy one. A bank. Screw them and after 7 years (+/-) they have to leave you alone.

I don't believe the mob recognizes bankruptcy protection or statutes of limitations.

 

[Sicario]

Which is worse?
I once heard it is better to owe the mob because they will just break your bones or kill you.
The Banks will take everything from you, and leave you on the streets in debt for the rest of your life.

I rather owe money to the mob or to the bank instead of the fucking IRS. You can always run from the mob, hoping they will never ever find you. With a bank, you can file for bankruptcy protection and hide/divert your assets through a corp or offshore.

What type of money are we talking about here?

 

[Smallville22]

The Mob is worse

 

[NashBridges]

Bank = mob

 

[mokbel69]

Not much difference, until you finish your repayments both have you by the balls. Neither give a flying fuck about you either.

 

[guitarnnblack]

Interesting responses.
To luis1972, I have recently so I thought too. I found out the hard way, don'e live by your means; live just beyond them under a little credit. I have been living by my means by $200/week for the past 8 years. Build credit so that you can borrow money when you really need to for things like education.
Apparently it is not responsible to live in ones earrings in todays society. You must borrow money you don't have to in order to gain trust in they eyes of the all mighty bankers. It is not enough to wisely budget your self in these times.

STDiva: good point; however does the bank not hunt down children for their parents debt? I knowI will be paying off my parents debt when they pass away. They have been telling me this since I was a child, I am just lucky that their business has enough equity to do so. NashBridges point in case.

 

[squallumz]

chase bank is the mob. with iphones. fuck those guys.

 

[dp93]

mob can atleast kill u so u dont have to pay

 

[Rey C.]

STDiva: good point; however does the bank not hunt down children for their parents debt? I knowI will be paying off my parents debt when they pass away. They have been telling me this since I was a child, I am just lucky that their business has enough equity to do so. NashBridges point in case.

I think your parents were just messing with you when you were a kid. Assuming you're in the U.S. and you aren't an owner in your parents' business, you're not (legally) responsible for any debt that your parents incur - unless you've cosigned on something with them. My parents' debt is/was their debt. My debt is my debt. Banks can't go after relatives in the U.S., unless they're joined together on that debt.

 

[hotrod808]

i dont know how you handle it in other countries but in germany people just start privat insolvency and after three years you are debt free and start doing the same bs again.
so the mob is worse