Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Jokes aside, we have clients who—unfortunately—even DrIvo wouldn't be able to bail out if he were acting as their guarantor...
🙂
🙂
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Posts by Richard Wright
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Applying for a loan while living abroad
in Banking, Insurance & Loans ·
You’ll find plenty of solid answers to that question scattered throughout this thread. Honestly, I’ve already given my take on this three or four times just on this single page, so do me a favor and scroll up a bit...
I have absolutely no intention of sinking to the level of mindless provocations. Other than that, go back and actually read the very last sentence of my previous post...
I have absolutely no intention of sinking to the level of mindless provocations. Other than that, go back and actually read the very last sentence of my previous post...
Applying for a loan while living abroad
in Banking, Insurance & Loans ·
Casey Bennett2 said:If anyone actually cares, we're talking about completely illegal transactions here. You can't just move foreign loans into the US without registering them with the Federal Reserve.
It might be possible, but if we're talking about doing this legally:
1. A bank would deposit the funds directly into your account rather than handing over cash through some middleman. They’d also need all the proper documentation approved by both the Federal Reserve and the central bank of the country where the loan originates.
2. You wouldn't need a middleman at all. These guys clearly exist just to act as a buffer between you and the bank—likely because they're guaranteeing the bank with assets in, say, Austria, while you're pledging your own property here in the States. If you think this is an "easy way out," you're incredibly naive and deserve whatever fallout comes from that choice.
Does it really not occur to anyone that if this were legitimate, some foreign bank would be advertising these credit lines in the American media? There’s clearly enough interest to make it happen.
The bottom line? Based on what you wrote, you clearly have no clue how their business model actually works, yet you love playing armchair theorist...
Look, we're talking about the shadow economy here. You can move money legally through these channels if you're willing to pay the specific commissions required by the US authorities...
My best advice? They don't need a middleman. Of course they don't—people could just hop on a plane to Austria tomorrow and handle the entire loan realization disclosure process themselves! Where, how, when, why, and all the other fine print—yeah, that’s the easy part, right?!!
I’m not exactly singing praises for this way of borrowing, but for people who can't get a loan in the States for whatever reason, but desperately need one—this isn't a bad option...
Because every single loan is a necessary evil. How "necessary" it is and exactly how much "evil" is involved? That's a call only the borrower gets to make.
Applying for a loan while living abroad
in Banking, Insurance & Loans ·
nimbleranger25 said:Could you please share the contact info for that broker? Honestly, I can never seem to find a real commission-based professional. All I run into are those scammers from the classified ads who claim they work for the banks. They say they don't charge fees, but they never actually close the loan; they just drag their feet indefinitely.
I would be incredibly grateful for any information you can provide.
I already sent over my colleague's contact info—he's got a real contract. Check your PM...
Applying for a loan while living abroad
in Banking, Insurance & Loans ·
ironcanyon422 said:Anyone got the lowdown on this kind of loan?😕
Is it actually worth grabbing a mortgage here in the States, or should I be looking abroad? Where do I even start digging into these types of loans? Is it legit, or am I gonna run into those shady "agents" trying to pull some fast one on me?
Thanks in advance👍
In America, obviously...
These "Austrians" are basically targeting people who are drowning in debt back home, or maybe they're on a black list, or some other reason why they don't meet the basic requirements for a standard loan...
Look, the whole setup is pretty sketchy. You’re essentially crossing borders with a massive pile of cash without reporting it. It's gray area territory.
As for the "agents"? You can spot a fraudster from a mile away during that first meeting. Just trust your gut.
Car loans
in Banking, Insurance & Loans ·
Nicholas Harris10 said:So, I just finalized a deal on a car. I put down a $667 deposit, and we settled on a price of about $7,700 (roughly $17150). The dealer had me fill out some paperwork for both my employer and myself, including my average salary info. They sent everything over to the bank, and now my approved loan amount is $18623. I’m honestly a bit confused—does anyone know what the standard processing fees are for these loans? Also, what happens to my initial deposit and the difference from the $1500? 😕 On top of all that, I had to pay a notary fee. Now the car is costing me an extra $900.
Look, you didn't even mention which bank you're using, nor did you bother to ask about the terms yourself, yet here you are asking me what the costs are!? Based on the tiny bit of info you provided, I shouldn't be expected to know those details any better than the guy selling you the car or the bank where you submitted your application—even if it was through a dealership intermediary...
All these question marks?????????????????
Car loans
in Banking, Insurance & Loans ·
Jason Brooks3 said:Yeah, something along those lines... if I'm remembering correctly, it’s roughly $3 per every $20,000 in death benefit coverage.
I don't think you get what he's saying—he’s asking why the hell his bank is forcing him into a policy that leaves him so broke he can barely afford a pack of Marlboros two days later.😁>
Car loans
in Banking, Insurance & Loans ·
rowdyranger3 said:Regarding auto loans, one of the requirements set by JPMorgan Chase as a security measure involves having a liability insurance policy that includes death benefit coverage, where the insured amount is at least equal to the agreed loan balance. For instance, imagine a scenario where the car is worth $33333 and the loan stands at $26667. My question is whether this expanded liability policy must maintain a minimum coverage of $26667 every single year, or if it's possible to scale that amount down as we gradually pay off the principal?
Seriously, what kind of difference does that even make to the premium? Are we talking $40-$$17 ??
Insurance Agent Licensing Exam at H&M
in Banking, Insurance & Loans ·
urbanmarlin19 said:I read that, thanks... but you didn't actually answer a few of my questions: who was footing the bill for those exams if you weren't already working somewhere? And what was your actual job before all this, and at what kind of company?
Insurance Agent Licensing Exam at H&M
in Banking, Insurance & Loans ·
urbanmarlin19 said:How much does the reimbursement actually cover when you fail an exam? And honestly, who was footing the bill for you guys before you landed a steady gig? I just started at a boutique financial advisory firm here in Chicago, and I’ve got one of these exams coming up about a year from now. I’m trying to get the lay of the land... I know they’ll hand over the study guides and I'll have to show up for the seminars, but what else? Give me the real talk on the exam itself, and what kind of roles were you all pulling before this—what industries or firms were you at? Thanks! 🙂 Props to everyone killing it!!
The licensing exam costs about $1,100 plus fees and some miscellaneous stuff like postage, so call it roughly $1,200 total.
I realized that TAKING $33 plus various administrative fees means you pay the full amount the first time around. If you fail, you only pay the $100+ reentry fee...
You really have until next year to get your act together and prepare. Honestly, we've already answered most of your questions about the exam itself right here, so just take a second to read through the thread from the beginning...
Insurance Agent Licensing Exam at H&M
in Banking, Insurance & Loans ·
Kimberly Nguyen said:Hey @lucas ... huge congrats on the news! 👋 ...
But seriously, you totally dodged my question in that other thread 😁 ... and while we're at it, how long did it actually take you to master that?
Aha... well, the answer is: absolutely 😉
As for the studying: I put in about 3-4 hours on Saturday, 2 hours on Sunday, then two days of heavy lifting from 9 to 4 and 9 to 1, followed by another two days of just reviewing and reading for 2-3 hours at a time...
Honestly, the intensive prep sessions were what saved me, followed by drilling the material through repetition.
Besides, I’ve spent the last five years working in insurance, so this wasn't some alien concept—it felt more like an upgrade to what I already knew. It was a different story for my colleagues over at the bank; for them, this whole thing was just an extra burden and a massive source of stress...
If you ask me, the current setup is pretty useless. A much better solution would be for them to just take a certified life insurance course and have the insurance company they represent at the bank pick up the tab.
Insurance Agent Licensing Exam at H&M
in Banking, Insurance & Loans ·
Passed! I scored a 35 out of 40 on the written exam, though I was the very last one called for the oral portion (around 4 PM). It looks like about half—maybe even a third—of the group failed the written part, but everyone managed to pull through the oral exam.
The faculty staff overseeing everything are actually great people; they’re genuinely helpful during both the written and oral stages.
The faculty staff overseeing everything are actually great people; they’re genuinely helpful during both the written and oral stages.
Insurance Agent Licensing Exam at H&M
in Banking, Insurance & Loans ·
I’m heading out this Friday, May 30th, and I’m happy to send my study guides over to anyone who needs them... they're about 105 pages long.
I’m also wondering if I can sneak into tomorrow's lecture at the Venice Hotel. My bank hasn't cleared the funds for my exam fees yet, so I'm paying for everything out of my own pocket right now...
I’ve heard they take attendance by calling names, but doesn't that just mean they're tracking who *isn't* there? If they don't call my name, I highly doubt they'll even realize I'm an extra body in the room.
On another note, would anyone happen to have a set of around 300 past exam questions? I currently have a version with 405 questions, but half of them are useless because they're all descriptive instead of multiple choice—definitely not what I'll see on the actual test.
I’m also wondering if I can sneak into tomorrow's lecture at the Venice Hotel. My bank hasn't cleared the funds for my exam fees yet, so I'm paying for everything out of my own pocket right now...
I’ve heard they take attendance by calling names, but doesn't that just mean they're tracking who *isn't* there? If they don't call my name, I highly doubt they'll even realize I'm an extra body in the room.
On another note, would anyone happen to have a set of around 300 past exam questions? I currently have a version with 405 questions, but half of them are useless because they're all descriptive instead of multiple choice—definitely not what I'll see on the actual test.
Applying for a loan while living abroad
in Banking, Insurance & Loans ·
James Cox6 said:It feels a little weird to me—besides the mortgage itself, what else are they going to grab as collateral? Our promissory notes don't hold any weight with them, and they aren't going to go after your entire estate via a writ.
Clearly, the ratio is going to be way more unfavorable for you than what this guy is claiming—it just doesn't make sense.
Our financial tools don't carry much value there because, with our local promissory notes and legal filings, they could theoretically freeze every single one of your accounts. Since our note lacks a solid legal basis with them, the only real collateral left would be the real estate.
Sure, they might give you lower interest rates, but then they'll just hike the required property valuation ratio—banks always look out for themselves first.
???
Everything works exactly the same way here in the States: the primary way we ensure loan repayment is through regular payroll deductions, where the monthly payment can swallow up 50-60% of your average take-home pay...
If a client stops paying for an extended period, the bank simply forecloses on the property.
The contract is notarized by authorized public officials and backed by a specific legal agreement handled by an American attorney.
Applying for a loan while living abroad
in Banking, Insurance & Loans ·
The big advantage here? They don't even bother checking with the Federal Reserve or running you against a black list...
Look, this guy probably isn't even an official appraiser. It’s more about the principle of the thing: you gather every single piece of documentation possible, which is how they handle valuations over in Austria to decide if they'll even bother showing up at your property. Once you get a handful of interested parties together, a bank officer—an Austrian, in this case—comes out to perform inspections and appraisals for several locations across town. Only after that do they actually sit down and draft an official loan offer.
Up until that point, EVERYTHING should be free of charge.
If all your ducks are in a row and the parameters look good, they’ll extend credit for up to 60% of the property's appraised value...
And you'd end up making your mortgage payments in Canada.
Look, this guy probably isn't even an official appraiser. It’s more about the principle of the thing: you gather every single piece of documentation possible, which is how they handle valuations over in Austria to decide if they'll even bother showing up at your property. Once you get a handful of interested parties together, a bank officer—an Austrian, in this case—comes out to perform inspections and appraisals for several locations across town. Only after that do they actually sit down and draft an official loan offer.
Up until that point, EVERYTHING should be free of charge.
If all your ducks are in a row and the parameters look good, they’ll extend credit for up to 60% of the property's appraised value...
And you'd end up making your mortgage payments in Canada.
Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Just putting this here to wrap things up, especially since some people clearly didn't realize part of this was moved to a different thread. Here are the conclusions drawn by Kimberly Nguyen and myself:
lucas_taf said:Both you and I just wasted our breath. We achieved absolutely nothing, and we drifted miles away from the actual topic.
I’m convinced that if we were sitting face-to-face, we could have settled this in two minutes flat, but the nature of online communication makes that impossible.
Let's move on. New topics, new discussions... 🙂
PS: I only started diving into the granular details of my business because people insisted on it...😵
Kimberly Nguyen said:I completely agree—we could have sorted this out over coffee in no time.🙂
PS
Those are two posts; the other one was just me offering some support...
And just because a crowd was insisting on something doesn't mean... look, let's not go to extremes here... there's always private messaging.
Anyway, be good... you know the deal now.🙂
Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Edited by moderator Kimberly Nguyen:
Post #31 moved to suggestion & complaint for box discussion
you can keep the conversation going over there
Post #31 moved to suggestion & complaint for box discussion
you can keep the conversation going over there
Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Rachel Barrett12 said:Richard Wright, I’ve gotta say—I am actually dying to know which agency you’re working for these days...
Richard Lewis16 said:I guess I’ll join the crowd here and voice my support too... I’m really hoping Kimberly Nguyen will let us drop a link or maybe just post the names right here instead
Look, a few colleagues and I run an independent financial consulting project. We aren't some household name, so frankly, it doesn't matter if I name the firm or not.
We hold contracts with several major banks (some direct, some through intermediaries), along with various insurance companies and savings institutions...
We work as hard as we can to serve our clients quickly and with high quality. We’ve been at this for five years now, and we're growing steadily...
Between word-of-mouth referrals, direct networking, and Marketing...
I don't even need to promote myself. Honestly, I feel like a fool for wasting so much time and energy arguing with Richard Lewis16 and Padrone, but I just felt the need to stand up for myself and my colleagues who do this exact type of work.
Beyond that, there are people in these threads—not just this one—who throw out sweeping, baseless judgments. They spend more time trolling than actually understanding the subject matter. They tend to be more destructive than constructive, and I don't mean that personally against anyone, just as a general observation about the atmosphere here.
While the internet and Reddit are incredibly useful, the reality is that misinformation and blatant falsehoods spread here simply because they CAN. And sometimes, being a bit of an over-idealist, I feel compelled to correct it, which is how I always end up in these situations!
🙂
Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Richard Lewis16 said:Look, I only really jump into threads that catch my eye...
If that’s how you guys roll, more power to you, I guess...
To be honest, I have no clue what OVB or AWD actually represent—guessing they're just some brokerage firms or something—but even with just basic business sense, I get the gist. Not that there's anything wrong with sticking to certain people; I mean, we all have our preferred go-tos when we're working, don't we?
And regarding that bit about spending three hours circling the Bank of America... that's purely based on my own experience. If you add in the thirty minutes I spent trekking back and forth from the car because I was too cheap to pay for parking, it adds up. I don't go into a bank just to sightsee; I go in with specific questions because I've already done my homework online...
In the end, I didn't even take out a loan there. It turns out it’s way more cost-effective to handle things elsewhere. I’m just waiting on that new federal regulation regarding credit to kick in so I can shop around anywhere I want. Once that happens, I suspect things will look better for you all too, and I’ll probably be more inclined to come to you for advice...
I still fall, more or less, into that category of desirable clients...😁 (The only real issue might be my choice of clothing...)
And for the record, I have a lot of respect for small business owners—though a middleman isn't exactly a small business owner...
But at the same time, I don't want to turn into one of those classic Americans who calls a handyman just to change a lightbulb. I'd much rather give a chance to the kid next door, thinking maybe he's better at it, or it'll save me a few bucks, and so on...
I'm more of a guy who looks at the price-to-quality ratio and...
Honestly, I just don't care for middlemen. Please don't take that personally, it's not an attack on anyone's profession, but when I don't absolutely need one, I'd rather go straight to the source...
I enjoy gaining new experiences and learning things for myself—which, I know, sounds like a cheesy line from a lonely hearts ad...😁—rather than having everything handed to me on a silver platter.
You know that old song lyric... "we did it all ourselves, earned it all ourselves"...
Look, I see you’re sticking to that story, so I’ll give you some advice: anyone reading this should head straight down to Bank of America and see for themselves just how "simple" it actually is—exactly like they promised in those flashy commercials.
Richard Lewis16 said:Look, I only really jump into threads that catch my eye...
If that’s how you guys roll, more power to you, I guess...
To be honest, I have no clue what OVB or AWD actually represent—guessing they're just some brokerage firms or something—but even with just basic business sense, I get the gist. Not that there's anything wrong with sticking to certain people; I mean, we all have our preferred go-tos when we're working, don't we?
And regarding that bit about spending three hours circling the Bank of America... that's purely based on my own experience. If you add in the thirty minutes I spent trekking back and forth from the car because I was too cheap to pay for parking, it adds up. I don't go into a bank just to sightsee; I go in with specific questions because I've already done my homework online...
In the end, I didn't even take out a loan there. It turns out it’s way more cost-effective to handle things elsewhere. I’m just waiting on that new federal regulation regarding credit to kick in so I can shop around anywhere I want. Once that happens, I suspect things will look better for you all too, and I’ll probably be more inclined to come to you for advice...
I still fall, more or less, into that category of desirable clients...😁 (The only real issue might be my choice of clothing...)
And for the record, I have a lot of respect for small business owners—though a middleman isn't exactly a small business owner...
But at the same time, I don't want to turn into one of those classic Americans who calls a handyman just to change a lightbulb. I'd much rather give a chance to the kid next door, thinking maybe he's better at it, or it'll save me a few bucks, and so on...
I'm more of a guy who looks at the price-to-quality ratio and...
Honestly, I just don't care for middlemen. Please don't take that personally, it's not an attack on anyone's profession, but when I don't absolutely need one, I'd rather go straight to the source...
I enjoy gaining new experiences and learning things for myself—which, I know, sounds like a cheesy line from a lonely hearts ad...😁—rather than having everything handed to me on a silver platter.
You know that old song lyric... "we did it all ourselves, earned it all ourselves"...
Look, you’re completely missing the point. You think I’m some middleman caught in the crossfire? That couldn't be further from the truth. I am the source. We aren't just some random department sitting in a cubicle over at Bank of America; we are, in the most literal sense of the word, personal bankers.
Richard Lewis16 said:Look, I only really jump into threads that catch my eye...
If that’s how you guys roll, more power to you, I guess...
To be honest, I have no clue what OVB or AWD actually represent—guessing they're just some brokerage firms or something—but even with just basic business sense, I get the gist. Not that there's anything wrong with sticking to certain people; I mean, we all have our preferred go-tos when we're working, don't we?
And regarding that bit about spending three hours circling the Bank of America... that's purely based on my own experience. If you add in the thirty minutes I spent trekking back and forth from the car because I was too cheap to pay for parking, it adds up. I don't go into a bank just to sightsee; I go in with specific questions because I've already done my homework online...
In the end, I didn't even take out a loan there. It turns out it’s way more cost-effective to handle things elsewhere. I’m just waiting on that new federal regulation regarding credit to kick in so I can shop around anywhere I want. Once that happens, I suspect things will look better for you all too, and I’ll probably be more inclined to come to you for advice...
I still fall, more or less, into that category of desirable clients...😁 (The only real issue might be my choice of clothing...)
And for the record, I have a lot of respect for small business owners—though a middleman isn't exactly a small business owner...
But at the same time, I don't want to turn into one of those classic Americans who calls a handyman just to change a lightbulb. I'd much rather give a chance to the kid next door, thinking maybe he's better at it, or it'll save me a few bucks, and so on...
I'm more of a guy who looks at the price-to-quality ratio and...
Honestly, I just don't care for middlemen. Please don't take that personally, it's not an attack on anyone's profession, but when I don't absolutely need one, I'd rather go straight to the source...
I enjoy gaining new experiences and learning things for myself—which, I know, sounds like a cheesy line from a lonely hearts ad...😁—rather than having everything handed to me on a silver platter.
You know that old song lyric... "we did it all ourselves, earned it all ourselves"...
Look, you and I are actually cut from the same cloth. The only real difference is that you’re hell-bent on refusing to see my point, and honestly? I don't even hold it against you.
That’s it. I’m done. This is officially my final word on the matter, and whatever you decide to write next, I am officially checking out of this conversation. Here is the bottom line: over 50% of all loans in Austria and Germany—not in the US, mind you, and I feel exactly the same way you do about them—are processed through specialized agencies rather than traditional banks.
Hey there. 🙏
Personal loan ads: Legit or scam?
in Banking, Insurance & Loans ·
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
Look, it’s not that I don't respect the work being put in. That isn't the issue here. The real problem is that you aren't actually forming an opinion based on the facts in front of you. Instead, you're just leaning on a bunch of preconceived notions and biases. You've made up your mind before even looking at the evidence. I’ve been thinking quite a bit about how we approach sharing our experiences lately. It seems like everyone wants a shortcut to wisdom without actually putting in the work to live through the mess first. Let me tell you something: nothing beats raw, unfiltered experience. I remember back when I was starting out in Chicago, I thought I could just read a few manuals and be ready to tackle the big leagues. I was wrong. Dead wrong. I walked right into a situation that taught me more in twenty minutes than three years of schooling ever could have. You can't simulate the gut punch of a real mistake. We see people online acting like experts because they watched a ten-minute video. It's frustrating. Real insight comes from the scars, the late nights, and the actual consequences of your actions. If you haven't felt the heat, don't pretend you know how to handle the fire. I’m interested in hearing what you all have actually lived through—not the polished, sanitized versions you post on LinkedIn. Give me the grit. Give me the truth.Look, you weren't here at my office, so until you actually show up, you’re just spinning fantasies about how things would go down. I honestly don't get why you're jumping into this conversation all of a sudden. What's the angle here? Are you just looking to stir the pot?
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
Look, I’ve been in this game for five years now, and I see it all the time. Clients come to me after getting completely brushed off by their banks. They recount these frustrating "experiences" where they felt like just another number, only to walk into my office and realize we’re actually willing to listen and try to fix the mess. It’s a huge relief for them just to be heard. Of course, I really hope these cases are the exception rather than the rule. If this was the norm, it would mean half the people working in retail banking don't have a clue what they're doing. But let's be real—they do know their jobs; it's just that their expertise seems to apply only when it suits them. Once upon a time. It’s simply not enough. These people are required to master the entire spectrum of banking products, yet they have zero incentive to actually do it. Why should they bother? Whether they successfully close a loan or fail miserably, their paycheck stays exactly the same. That isn't just my "impression" or a gut feeling—those are cold, hard facts.
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
Look, let’s get one thing straight: I don’t work for OVB or AWD. It isn't about which one of those outfits is more efficient when it comes to restructuring debt. We operate on a theoretical model involving fourteen different banks—either through direct contracts or brokerage agreements—but in the real world? In actual practice, we mostly deal with four or five of them. Why? Because those few institutions can handle about 90% of our clients' needs. Anything that falls outside that scope gets picked up by the rest. Simple as that.
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
This is absolutely impossible. If you’re going to try and argue with me, at least use some actual, real-world logic. To hit just four or five shopping malls in one day just to pick up a few things would take an incredible amount of time, let alone trying to swing by seven different banks. It’s just not happening.
Fine, if you really want to go there, I’ll give you an arbitrary example just to see how many "hours" it takes for you to stumble upon the right answer. Let's see what you've got.
Look, you've got the entire internet at your fingertips. Everything you could possibly need to know is written out there somewhere—if you actually put in the effort to look, you might just stand a chance. ☕
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
I’ve already made my point: this only applies to that tiny sliver of the population that actually meets all the ideal criteria. You should consider yourself lucky if you (probably) fall into that category. I don’t care much for fluff. I prefer to get straight to the point. I’m here to dissect the facts, challenge the consensus, and call out nonsense wherever I find it. My approach is simple: I value depth over speed and substance over style. If you're looking for mindless agreement or shallow takes, you won't find them here. Expect bluntness, expect detail, and expect me to push back when the logic doesn't hold up. Let's get to work. It’s one of those situations. But look, once you’ve already tapped into your credit limit—say you're leaning heavily on a revolving credit line or a high-interest credit card—things get incredibly messy if you decide to go hunting for another unsecured loan. It's a mess.
Richard Lewis16 said:It seems people get pretty touchy the moment someone disagrees with them
Honestly, I’d rather just walk into a local branch by myself than deal with you guys
Or maybe you can tell me how those folks at the bank (the ones actually approving the loan) are going to be wrong, whereas you're somehow infallible... since you're clearly in constant direct contact with bank boards and the SEC, right?
Do I know for a fact that you work with every single lender out there? Can you actually guarantee you'll find the best possible fit for my situation, or do you just have cozy little deals with two major banks while ignoring everyone else and funneling clients toward them?
And besides, if I wanted to hit up seven different banks, it would take me a solid three hours just to sit down and have a real, deep conversation with an individual banker at each one—not just some quick info session, but a serious meeting with someone who actually has authority...
And when a bank sees you're a high-value prospect (which, in my case, I definitely am), they start throwing extra perks and better terms on the table...
As for the rest, I don't handle my own bookkeeping, I use an outside firm, and I painted my apartment myself because, let's face it, it's not exactly rocket science...
My clients don't see the value in paying enough to get the level of service I provide, so I'm doing just fine on my own for now... 😁
If you really want the best outcome for yourself, you should probably just go out and grab it yourself.👍
You know damn well I was exaggerating, but since you’ve got nothing else to work with, you really think that counts as a knockout blow?
Look, you and Patron can keep your high-level macroeconomics if that’s what you want. Personally? I actually value the little guy. I’m talking about the local deli owner who makes a killer sandwich—sure, I could whip one up in my own kitchen, but I’m paying him for the craft. I’m paying the freelance web designer because they bring something to the table that my neighbor’s kid simply couldn't deliver. Even when it comes to real estate, I’ll hire a professional agency instead of just clicking "buy" on an apartment online in three hours flat. There is actual value in specialized work, even if it isn't "efficient" by your standards.
Thanks, later. 👋