So you had proof of income sufficient to cover the amount of the loan, and no other outstanding credit, given your recent bankruptcy.
I opened a secured credit card account three months after my bankruptcy, as recommended by most financial advisers. Three years later, my credit score was where it was prior to the Great Recession. The bankruptcy had zero impact on my life.
[...] "I had options in some small hot startup and the bank gave me a 50k loan," [...]
From what I've been reading, "options in some small hot startup" aren't worth shit.
[...] if your friend is that poor that they can't pay a $200 bill today [...]
Not everyone can pay for an unplanned bill out of pocket. For you and me, $200 isn't that much money. For people who make minimum wage ($10 per hour), $200 is a lot of money.
[...] perhaps they should stop taking career advice from you [...]
People don't ask me for career advice because they know I'll tell them something they don't want to hear.
[...] aim a little higher than being a $50k/yr IT meathead.
For someone making minimum wage in Silicon Valley, $50K per year is a lot of money.
If he financed them, then he had to prove he actually was credit-worthy, which means that he's proven he can make the payments.
I could probably qualify for $50K+ in credit cards. Doesn't mean that I have the cash flow to pay them back.
I suspect your friend is stressed out more because he has a job that requires him to actually work [...]
He probably got laid off in the last round of layoffs at Cisco. When I got laid off in 2013, all the Indians in middle management got let go. That shocked all the Indians.
[...] allow him to sit on Slashdot all day telling people, "I'm reading here while my scripts run," [...]
When I worked at Cisco, I spent my free time at work reading the CCNA certification book and playing with my Cisco rack at home. That was my on the job training. I had no time for Slashdot then.
NO organization conducting a credit check is going to say, "Oh, you've got 50,000 options of Uber? That's as good as money in the bank... of course we'll give you millions of dollars."
When I was out of work for eight months (2013-2014), my credit union gave me $2,500 loan to cover a month of expenses between accepting the contract and starting the contract for my current job. I submitted my resume, signed contract and start date. I repaid the loan in 18 months.
Did I mentioned that I was out of work for two years (2009-2010) and filed for Chapter Seven bankruptcy?
I can only imagine what it's like to be a black dude.
I worked at Cisco on a project for nine months or so. My supervisor (Mexican-American), coworker (Italian-American) and myself (German-English-Swedish-Irish-French-Canadian-American) were the only non-Indians in our workgroup. In short, only vegan pizza at company events.
I had to do a manual install on my Dell laptop because Windows 10 wouldn't properly install the Anniversary Update. I rather not do that for every update.
People don't normally go out and buy lots of expensive cars when they get a new job.
I knew a Cisco engineer who bought two Tesla cars He couldn't afford one much less two but he had to outcompete the other engineers on the hardware specs. And then he wonders why he's stressed out all the time.
Three months before it's due. I have a friend who waited until the weekend before to do his taxes and got upset that he owed $200 to the IRS. If he had done it three months earlier, he could have filed his state tax return first to get the refund and then pay off his federal tax bill.
Well, remember that you have a limited number of job-changes (and you don't know up front just how many that is) before nobody will hire you.
Unless you're a contractor. I worked seven days a week for two years (2011-2013) to recover from being unemployed for two years and filing for Chapter Seven bankruptcy. I've worked 30+ IT support assignments for three different contracting agencies during that time.
Plus, leaving one job after just a few months is a big red flag.
Maybe, maybe not. If a contract doesn't work for me, I'm ready to walk into the next job. I nearly walked off my current job because the CIO kept screaming at me because someone else lied to him and the contract had a $5K penalty for not giving a proper two-week notice.
What I can't reconcile is that we're supposedly highly in-demand, yet our working conditions get worse and worse each year.
My employment contracts have prohibited me from working over 40 hours per week. So I'm never exhausted and my working conditions doesn't vary that much from contract to contract. I spend another 40 hours a week on my side business.
With this guys credentials he couldn't get another job? Give me a break.
He could have gotten another regular tech job elsewhere. But if he bought into the startup culture, and spent more money than he had because he expected a big payoff with the IPO, a regular tech job couldn't pay the bills for the black hole he gotten himself into.
I know people who are perfectly happy to have their only copy of their photos on iCloud because "It's Apple! They have backups!"
I have a friend who works at a Sprint store. He recently transferred 75GB of photos between old and new iPhones. The user had no other backup for this data.
And assume liability for every problem and expense on the property.
That's the nice thing about living in a large apartment complex. Every little problem is someone else's problem with a phone call (or, these days, a web ticket).
That's stupid - if you'd put 50% towards buying a house [...]
We're no longer a nation of homeowners but renters. More so since developers are focused on luxury housing to maximize their profits. Starter homes are non-existent in the current real estate market. It's not easy to raise a $200K+ down payment for a $1M+ home.
...]you'd have spent the last few years living 'rent' free.
And then be forced to sell the house because you can't afford to pay ever increasing property taxes each year.
When you keep your data in the cloud, and don't keep backups on hand, you're at the mercy of the powers to be. I pulled my data out of the cloud when I realized that I didn't need to have it on the Internet 24/7. A local file server works fine for my needs.
I thank the Emperor that the good people at the Inquisitorial Board of Malfeasance is finally doing something about this filth, what with their bartering with foul xenos.
I didn't think "Mission Earth" by L. Ron Hubbard was that bad.;)
If there is an offer to purchase the complex, then perhaps they are aiming to empty it out to some threshold (50%?) in order to evict the remaining tenants and renovate or demolish the building.
My 50-year-old apartment complex had three or four corporate owners in the last five or six years. Each one came in with the brilliant idea to redo the landscaping, slap a new coat of exterior paint, and charge "luxury" rental rate. The current corporate owner is actually renovating the apartments, as repeated landscaping and painting didn't work for the previous corporate owners. New residents are paying the same "luxury" rental rate that the brand new apartment complex down the street is charging. According to economic theory, an older apartment complex should be charging less rent to compete with a new apartment complex. That's not happening.
You might be able to make an inquiry to see if anything has passed through planning, you might be looking at yet another mixed use upscale apartment-retail center like Santana Row, Rivermark, Homewood, Meridian at Midtown, etc.
My apartment complex is down the street from but not directly on the light rail line. Old warehouses up and down the light rail lines are being torn down for mixed developments. Many of them already under construction.
Doesn't pass the smell test... $1920/year (=$160*12) is the maximum income to be eligible for food stamps [...]
That's not what the county office told me back then after the Great Recession. Unemployment was still high (seven job applicant for every open position) and many people had filed for government aid. As a single person, I don't qualified for food stamps because I made too much money.
[...] but you somehow managed to live in SV and feed yourself rice and beans on less than $4k/year?
I was out of work for and lived on $1,600 per month unemployment benefits for two years (2009-2010). I then spent six months living off my savings while working 20 hours a month on a weekend job. When my Chapter Seven bankruptcy got finalized in July 2011, I had $25 in checking and a new fulltime job. I then spent the next two years (2011-2013) working seven days a week to stabilize my finances. Today I'm back to where I was financially ten years ago.
That still doesn't explain what you're talking about. I assume it's some kind of dice game?
Kids these days...
The rogue or thief is one of the standard playable character classes in most editions of the Dungeons & Dragons fantasy role-playing game. A rogue is a versatile character, capable of sneaky combat and nimble tricks. The rogue is stealthy and dextrous, and in 2nd edition was the only official base class from the Player's Handbook capable of finding and disarming many traps and picking locks. The rogue also has the ability to "sneak attack" ("backstab" in previous editions) enemies who are caught off-guard or taken by surprise, inflicting extra damage.
If you making 50K a year and paying $1466 for a studio then your basically putting half of your take home pay towards rent. That is not affordable.
I've been paying 50% in rent since the 1990's, as my late parents have before me since the 1970's. The trick is to save as much of the other 50% as possible.
Slashdot Mirror
So you had proof of income sufficient to cover the amount of the loan, and no other outstanding credit, given your recent bankruptcy.
I opened a secured credit card account three months after my bankruptcy, as recommended by most financial advisers. Three years later, my credit score was where it was prior to the Great Recession. The bankruptcy had zero impact on my life.
[...] "I had options in some small hot startup and the bank gave me a 50k loan," [...]
From what I've been reading, "options in some small hot startup" aren't worth shit.
[...] if your friend is that poor that they can't pay a $200 bill today [...]
Not everyone can pay for an unplanned bill out of pocket. For you and me, $200 isn't that much money. For people who make minimum wage ($10 per hour), $200 is a lot of money.
[...] perhaps they should stop taking career advice from you [...]
People don't ask me for career advice because they know I'll tell them something they don't want to hear.
[...] aim a little higher than being a $50k/yr IT meathead.
For someone making minimum wage in Silicon Valley, $50K per year is a lot of money.
If he financed them, then he had to prove he actually was credit-worthy, which means that he's proven he can make the payments.
I could probably qualify for $50K+ in credit cards. Doesn't mean that I have the cash flow to pay them back.
I suspect your friend is stressed out more because he has a job that requires him to actually work [...]
He probably got laid off in the last round of layoffs at Cisco. When I got laid off in 2013, all the Indians in middle management got let go. That shocked all the Indians.
[...] allow him to sit on Slashdot all day telling people, "I'm reading here while my scripts run," [...]
When I worked at Cisco, I spent my free time at work reading the CCNA certification book and playing with my Cisco rack at home. That was my on the job training. I had no time for Slashdot then.
NO organization conducting a credit check is going to say, "Oh, you've got 50,000 options of Uber? That's as good as money in the bank... of course we'll give you millions of dollars."
When I was out of work for eight months (2013-2014), my credit union gave me $2,500 loan to cover a month of expenses between accepting the contract and starting the contract for my current job. I submitted my resume, signed contract and start date. I repaid the loan in 18 months.
Did I mentioned that I was out of work for two years (2009-2010) and filed for Chapter Seven bankruptcy?
I can only imagine what it's like to be a black dude.
I worked at Cisco on a project for nine months or so. My supervisor (Mexican-American), coworker (Italian-American) and myself (German-English-Swedish-Irish-French-Canadian-American) were the only non-Indians in our workgroup. In short, only vegan pizza at company events.
Geez, I'm waiting for when you start posting your shopping lists "This is what I bought today" [...]
I got a bathroom scale,, razor blades and scissors yesterday.
[...] and it gets modded insightful by your other sockpuppet accounts.
Can someone mod me up? I don't have any sockpuppet accounts.
I don't get why people have to status symbol themselves beyond their means.
It's called the American Dream.
You can hate Apple all you want [...]
Where in my comment did I write that I "hate Apple"?
I tell almost anyone with a nearly full phone to sign up - because they can opt to store fewer of the photos on the device itself.
A feature I don't use because I regularly move data off of my iPhone on a regular basis.
You need to backup your data and do a clean install of the Anniversary Update. I did that for my Dell laptop.
I had to do a manual install on my Dell laptop because Windows 10 wouldn't properly install the Anniversary Update. I rather not do that for every update.
People don't normally go out and buy lots of expensive cars when they get a new job.
I knew a Cisco engineer who bought two Tesla cars He couldn't afford one much less two but he had to outcompete the other engineers on the hardware specs. And then he wonders why he's stressed out all the time.
So, when do you pay your taxes? :-)
Three months before it's due. I have a friend who waited until the weekend before to do his taxes and got upset that he owed $200 to the IRS. If he had done it three months earlier, he could have filed his state tax return first to get the refund and then pay off his federal tax bill.
Well, remember that you have a limited number of job-changes (and you don't know up front just how many that is) before nobody will hire you.
Unless you're a contractor. I worked seven days a week for two years (2011-2013) to recover from being unemployed for two years and filing for Chapter Seven bankruptcy. I've worked 30+ IT support assignments for three different contracting agencies during that time.
Plus, leaving one job after just a few months is a big red flag.
Maybe, maybe not. If a contract doesn't work for me, I'm ready to walk into the next job. I nearly walked off my current job because the CIO kept screaming at me because someone else lied to him and the contract had a $5K penalty for not giving a proper two-week notice.
What I can't reconcile is that we're supposedly highly in-demand, yet our working conditions get worse and worse each year.
My employment contracts have prohibited me from working over 40 hours per week. So I'm never exhausted and my working conditions doesn't vary that much from contract to contract. I spend another 40 hours a week on my side business.
With this guys credentials he couldn't get another job? Give me a break.
He could have gotten another regular tech job elsewhere. But if he bought into the startup culture, and spent more money than he had because he expected a big payoff with the IPO, a regular tech job couldn't pay the bills for the black hole he gotten himself into.
I know people who are perfectly happy to have their only copy of their photos on iCloud because "It's Apple! They have backups!"
I have a friend who works at a Sprint store. He recently transferred 75GB of photos between old and new iPhones. The user had no other backup for this data.
I don't think Larry Ellison will surrender his hot air monopoly without a fight.
And assume liability for every problem and expense on the property.
That's the nice thing about living in a large apartment complex. Every little problem is someone else's problem with a phone call (or, these days, a web ticket).
That's stupid - if you'd put 50% towards buying a house [...]
We're no longer a nation of homeowners but renters. More so since developers are focused on luxury housing to maximize their profits. Starter homes are non-existent in the current real estate market. It's not easy to raise a $200K+ down payment for a $1M+ home.
...]you'd have spent the last few years living 'rent' free.
And then be forced to sell the house because you can't afford to pay ever increasing property taxes each year.
When you keep your data in the cloud, and don't keep backups on hand, you're at the mercy of the powers to be. I pulled my data out of the cloud when I realized that I didn't need to have it on the Internet 24/7. A local file server works fine for my needs.
....a lot of hot air.
I thank the Emperor that the good people at the Inquisitorial Board of Malfeasance is finally doing something about this filth, what with their bartering with foul xenos.
I didn't think "Mission Earth" by L. Ron Hubbard was that bad. ;)
If there is an offer to purchase the complex, then perhaps they are aiming to empty it out to some threshold (50%?) in order to evict the remaining tenants and renovate or demolish the building.
My 50-year-old apartment complex had three or four corporate owners in the last five or six years. Each one came in with the brilliant idea to redo the landscaping, slap a new coat of exterior paint, and charge "luxury" rental rate. The current corporate owner is actually renovating the apartments, as repeated landscaping and painting didn't work for the previous corporate owners. New residents are paying the same "luxury" rental rate that the brand new apartment complex down the street is charging. According to economic theory, an older apartment complex should be charging less rent to compete with a new apartment complex. That's not happening.
You might be able to make an inquiry to see if anything has passed through planning, you might be looking at yet another mixed use upscale apartment-retail center like Santana Row, Rivermark, Homewood, Meridian at Midtown, etc.
My apartment complex is down the street from but not directly on the light rail line. Old warehouses up and down the light rail lines are being torn down for mixed developments. Many of them already under construction.
Doesn't pass the smell test... $1920/year (=$160*12) is the maximum income to be eligible for food stamps [...]
That's not what the county office told me back then after the Great Recession. Unemployment was still high (seven job applicant for every open position) and many people had filed for government aid. As a single person, I don't qualified for food stamps because I made too much money.
[...] but you somehow managed to live in SV and feed yourself rice and beans on less than $4k/year?
I was out of work for and lived on $1,600 per month unemployment benefits for two years (2009-2010). I then spent six months living off my savings while working 20 hours a month on a weekend job. When my Chapter Seven bankruptcy got finalized in July 2011, I had $25 in checking and a new fulltime job. I then spent the next two years (2011-2013) working seven days a week to stabilize my finances. Today I'm back to where I was financially ten years ago.
That still doesn't explain what you're talking about. I assume it's some kind of dice game?
Kids these days...
The rogue or thief is one of the standard playable character classes in most editions of the Dungeons & Dragons fantasy role-playing game. A rogue is a versatile character, capable of sneaky combat and nimble tricks. The rogue is stealthy and dextrous, and in 2nd edition was the only official base class from the Player's Handbook capable of finding and disarming many traps and picking locks. The rogue also has the ability to "sneak attack" ("backstab" in previous editions) enemies who are caught off-guard or taken by surprise, inflicting extra damage.
https://en.wikipedia.org/wiki/Rogue_(Dungeons_%26_Dragons)
If you making 50K a year and paying $1466 for a studio then your basically putting half of your take home pay towards rent. That is not affordable.
I've been paying 50% in rent since the 1990's, as my late parents have before me since the 1970's. The trick is to save as much of the other 50% as possible.