Sam Hyde and Nick Rochefort on 💳 DEBT 💰

Sam Hyde and Nick Rochefort discuss on Perfect Guy Life Sam's previous advice on Debt. The conversations starts with talking about people who answer there phones immediately or feel the need too.
#samhyde #nickrochefort #mde #pgl #debt #advice #money #comedy
PGL Ep: 40 'Bill Johnny'
MDE.TV
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[@Jugganawtt]

Yeah I’m doin it for muh daughtuhhh!

[@sole__doubt]

I thought it said "my dogs" lol

[@aarowhead]

@@sole__doubt❓❓❓

[@sole__doubt]

@@aarowhead i thought the voice said "Im doing it for my dogs"

[@omaisgee123]

​@@sole__doubti believe he's imitating a brazilian dude lol

[@godsstrongestschizo]

James Rolfe! Bimmy!

[@tubeguy4066]

>build up credit to the 750s >get loads of credit cards with the upmost limits >make sure you put all these credit cards on a burner phone and throwaway email >spend it all on gold >if you try to get sued, claim you sold the gold at pawnshops and spent all the money at casinos because you saw a few videos about counting cards >live in a state where private companies cant garnish your wages >wait 8 hears >repeat till rich

[@notillatall]

That's what Jesus would do

[@tubeguy4066]

​@notillatall nah Jesus is more hardcore, he'd flip the tables and chase the creditors with whips

[@killer7eleven221]

"I watched Rain Man, I don't know what to tell ya!"

[@lizardinthelites]

stop greentexting on youtube

[@Dregkar]

@@lizardinthelites uhm aktchually its called greenmemeing

[@powerplayground]

I had $300 of cell phone debt. Wrote them a letter to have them prove I actually owed it and they erased the collection. I also supposedly owe money to the college I dropped out of for classes I never attended. They kept calling me about it asking for my address. I told them to use skip locate and that I wasn’t going to give up that info. 😂

[@Mr_Sh1tcoin]

​@@Joe-sg9llhe doin it faw his dawta

[@FrankieHustla]

I owed $3000 to the hospital just for the ambulance (hospital was 2 miles away), not including the other BS astronomical charges for radiology and shit. Told them I'm not paying it. They said "OK what about $100 instead?". Paid the $100, no credit impact... shits fucked.

[@powerplayground]

@@Joe-sg9ll Right now it’s sitting at around 750 because of high utilization from being laid off for 3 months. Before that it was around low 800’s.

[@iflopgardens]

None of these stories are true. Ever heard of collection agencies. Ever heard of a contract, cell phone debt will follow you for up to 7 years. And tank your credit in the mean time. Stop lying

[@SparkZ1420]

​@FrankieHustla same. I kept irritating the debt collector over a $3600 hospital bill, after about 5 calls, they gave up

[@winstonwolf5706]

With debt comes interest payments.

[@hottrash8970]

DING DING DING

[@brianeno608]

Just dealing with paying things off alone is a great deterrent. I swear everyone I speak to is incapable of doing anything, I had to set one up for a speeding ticket, was broke, and every week it would decline, money was there, would go on the phone it would eventually work and this cycle repeated for weeks. So the error was either me or the system initially, but not a soul could fix it would put an extra 0 somewhere, but every single week I would correct it the person would go oh right, let's fix that, sure enough next week it would decline, I would check with their online portal thing sure enough the 0 is back, I really don't get it. Are these sorts of systems just beyond broken, like I was starting to know the people on the phones names and like things about them, all because a 0 kept showing up, I would correct it, they would correct it, months of this shit, luckily no extra fees. Randomly, about 2 months in, it finally disappeared. Recently got health insurance, the exact same shit is happening. Maybe when I'm setting it up, because I'm Australian maybe they keep hearing "0" from my accent? I really do not understand it, but at the same time, when I'm calling every fucking week to change this error and I go "the zero is definitely gone yes?" "Yes! It's gone have a great day" same shit every week. I don't get it at all. So I decided to pay for a year and just not worry about it until January... Maybe that is some sort of tactic? Surely not. It's a retarded one but I digress. Just pay it off if you can, it's so much stress for no reward. I understand that now more than ever folks are broke, but debt ain't something you want to hold onto. I got into debt when I was 20, long story short I thought my credit would be ruined, but actually I checked it recently and it's above average, mainly because I paid everything on time, granted I sacrificed time and had to sell items and stuff I needed, once I did not have a fridge that sucked. But yeah, it weirdly worked out in the end, had I missed a payment or two? Probs not, and as I'm describing, you can do everything right, fix mistakes call them, and it will and can not go your way. Put the least amount of possible obstacles between you and your hopeful outcomes. If your young, do not ever think if you borrow or afterpay, that they will eventually leave you alone if you decide "teehee I don't want to pay, or I will delete the app". They won't, just from my story above, even when things "work" they don't, these places I swear are using 2002 desktops to run their multi million dollar buisness, or some shitty server outsourced to a place that has a witch doctor on staff. My overall point, these places don't work, they will not do what they say, they are not to be trusted, pay it off today, enjoy tomorrow.

[@braydenhardcastle9425]

Just don’t pay it

[@leetster6303]

if the interest rate is lower than the inflation rate, you are actually gaining value by being in debt

[@JWStreeter]

@@leetster6303 lmfao, i mean

[@TecumsehMacGuigan]

I've had one phone company send multiple collections agencies after me for $68. No idea how these debt collectors make money.

[@nickydee569]

They prob paid less than 10$ for your debt too more like 8$ just to hopefully make 58-60$ lol that's a lot of effort for gas money

[@coomcake]

Ebay sent a $20 bill to collections for fees I owed them.

[@leetster6303]

its a fear tactic which works on most people thus making it worth it for the companies that pay these debt collectors

[@BradleyBennettinaminute]

I got $10,000 in credit card debt. BoA burned my 9 year old twins Sara and Shaney in a bucket of piss in the lobby.

[@Mr371312]

"My name is jason goldstriker, and I bought $1bln in dirty bonds. Lets see our contestants turn those pennies into dollar bills!"

[@theclownofclowns]

honey the bank is on the phone they need you to go to the burning piss tank

[@Big_Dummy86]

When you have absolutely zero debt none of these things matter.

[@BradleyBennettinaminute]

Thanks for the insight, genius

[@Mdmbchdr]

@@BradleyBennettinaminutewell you’re a retard so he had to say it

[@braydenhardcastle9425]

Yes but you also don’t have $500,000 dollars cash. See the trade off. It’s instant cash for one caveat

[@dungeonmaster6292]

Some of us do but it takes a while​@@braydenhardcastle9425

[@Yourleftnutt]

Literally impossible. Either your a millionaire with various assets, or you live in a cardboard box and eat one slice of bread a week. Nice try

[@mikehunt42069]

Must be nice living in a country where the state doesn't sell off your property for failing to pay dents.

[@Z3RR098s]

Does your country only cover scratches?

[@goyslop-consumer]

where i live the gov can just take all of my wages if i have debt.

[@superstar5123]

I use my credit card like a debit card for the most part.

[@astrofish6163]

That's how you should, just spend what you can afford and farm rewards on the backs of the financially illeterate. There are far cheaper ways to get a short term loan than a credit card-- I reccomend stealing from your elderly family members, and paying them back, interest free, before they notice.

[@Grudgie]

It's been a while but both Sam and Nick is rocking some serious fucking man spreads 👌

[@atarirob]

had a friend who slaved away to pay off his first course of student loans (he went to college for 6 years doing two different courses) and would bring it up and brag about it every fucking time we spoke. he was literally bragging about getting J'd and he was proud of it. some people are just built for the system i guess.

[@nbee7125]

Defering to pay with tomorows money isn't gonna be better than paying today, due to interest in most peoples cases. Unless you really are willing to have shot credit score, which means in future if you want to buy a home/vehicle you will have higher payments. Depends what you want in life

[@Mr_Sh1tcoin]

Yea getting rid of debt now is better than tomorrow. Most bad debt with collections will fuck you with interest and processing fees per payment both of which far exceed inflation. Sam's case for tomorrows dollar is cheaper than today doesn't work with collections debt, for standard loans, yes.

[@doubleeeeeee]

This makes sense for Sam because he's a trust fund kid and can afford to pay straight cash homie for things like a house eventually. Normal people will get absolutely ass-blasted if they tried this

[@Mr_Sh1tcoin]

@@unraveledcubeofsaturn OPM. For scam artists and losers who don't have money.

[@PeenWienerstien]

Yeah, that makes sense when inflation isnt >9%.

[@chillier8363]

Taking debt is only a good move if you make more money with it than your paying in interest regardless of inflation

[@connorb9008]

The interest on debt will out pace inflation. Pay your debts.

[@hughjass7101]

Ad on this was for an online casino😂

[@nickydee569]

The government borrows because we pay for it lol

[@princessbabyboo]

🐿️: “im doin it for my daughta”

[@danielvelkov116]

Martin shkreli: debt is not leverage Sam Hyde: debt Max Of course I won't listen to the millionaire

[@Junchengopterid]

They're both millionaires. Idk if Shkreli still has his wealth but Sam definitely is.

[@cyanrazorCel]

I was in 10k Cc debt. with Bank of America. On screen they said i owed like $2000 of fees and it was about to default. But I simply called them up and they told me I could pay them just 25% of that, even aboe to split it into $900 for three months. Also used nick's "create a sense of urgency" to my dad to make him relieved to send me that $3000 for the settlement. It worked.

[@chillier8363]

Money is getting worth less but its still hard to comeby

[@ElonMuskrat-my8jy]

I took Sam Hyde's advice to stop paying credit card companies back a couple years ago. I had nearly $16k of debt from HSBC and a local credit union that pushes Skittles propaganda. At least a quarter of it was from rental cars and car repairs when I needed them. Also spent thousands on books. I could barely keep up with payments. I decided to stop paying and responding to their calls and letters. Eventually I got a call from a Brazillian lawyer named Goldberg about a year later saying HSBC was trying to settle or sue me. I called a bankruptcy lawyer, collected the needed documents, paid him like $1260, did financial responsibility courses and called in for my hearing. I had no assets I was able to sell off to pay it back. I now have Chapter 7 but don't have to deal with credit card debt. Thanks Sam!

[@leetster6303]

your mistake was spending that money on cars when you’re meant to use that money to make more money

[@ElonMuskrat-my8jy]

@@leetster6303 My lawyer mentioned that using credit card debt to purchase crypto would not be likely to be eligible for bankruptcy forgiveness. I was in a hard situation. It's gone now. Oh well.

[@nickydee569]

When hes talking about debt hes talking about debt on assets and projects like World Peace 2 that have reasonable expectation of making profit/gains. Not good advice for people with consumer debt

[@mh3225]

no, he specifically tells people with credit card debt not to pay it back in at least 2 eps on gumroad. He also said he isnt paying for his motorcycle in one of them lol.

[@nickydee569]

​​@@mh3225well he's not paying it cause he doesn't need a credit score (atm) but I believe he wants people to have as much access to liquid funds as possible to turn that into profit/gains which is why he tells people not pay off debt

[@millkeee]

that's a fair point until they start dumping interest on your debt

[@carbonhazard]

This went over a lot of people’s heads. Yea a revolving debt you pay monthly like a credit card will cost interest, but stop paying that balance and suddenly your interest rate drops to 0% when it goes to collections, especially if it’s sold and you can settle for a percentage of the original balance.

[@SparkZ1420]

Damn 😂

[@nickydee569]

Yes but the lender could sue and have your wage garnished

[@bestnoodles]

​@@nickydee569 only if they can find you.

[@EMMmaximino]

@@nickydee569 suing cost money though, and if you got no assets, or money, or just a burnout, then........................

[@Chewpa_Miverga_786]

"Annnnnnnd I'm doing it for my dawg-hter" - Nick

[@Safe-and-effective]

where is the original line from?

[@Chewpa_Miverga_786]

@@Safe-and-effective The Dollar Stream channel on KZbin took it off one of Nick real estate streams and uses it for there into.

[@daaryn]

@@Safe-and-effective During the first few House Realtor livestreams Nick was heavily impersonating a lot of famous people, this one is when he was impersonating 50 cent - this should be the original one kzbin.info/www/bejne/m36bdnp3ad2Mqbs

[@yeedbottomtext7563]

I’m declaring chapter 7 soon lol. I’m walking away with a 2023 vehicle, 5 acres, and a nice watch. I’ll rebuild my credit and destroy it again in 18 months

[@nephilimrephaim3949]

How are you going to keep the car and watch

[@MrLukedanger]

@@nephilimrephaim3949he’s filing for bankruptcy more importantly liquidation of his company owes him any unpaid wages he can take land or cars as payment kinda sketchy tbh

[@spikestoyou]

@@nephilimrephaim3949this

[@yeedbottomtext7563]

@@nephilimrephaim3949 I don’t have to sell anything. Auto loan is secured debt

[@jaredwilliams2357]

@@nephilimrephaim3949Letting a family member or friend hold the paper

[@sole__doubt]

I was gonna make a New Balance joke but then I saw Sam was wearing a pair. :)

[@WorldsWorstBoy]

This is good advice if youre not trying to build decent credit.

[@dungeonmaster6292]

Good advice if you had a rich father funding your affairs

[@Godsavethecrumpets]

In a world without interest.

[@mvwil]

the advice is pragmatic but it degrades society. People won't lend at all if credit goes bad

[@zachrat9083]

Good. Lets end bank usury all together 😎👌

[@mh3225]

Its not so much debt thats the problem but rather the (((interest))). The gulf coast countries went so far as making interest illegal, charging a flat fee that you would have to pay for a loan. People out here paying back 100k on a 40k loan over 20-30 years. Its criminal. Meanwhile banks do an oopsie, causing a financial like in 2008, and literally nothing happens to them.

[@0mnislasher1]

Usury degrades society, don’t need to be a Christcuck to know that

[@showsister69]

good

[@n0vi]

Until there's lending without usury then who gives a single fucking shit let it rot let it burn

[@goodstuff8156]

Some hospitals in India have built in call centers for patients to pay off their medical bills during their treatment. Should this be introduced to the west?

[@mace1633]

Don’t give any ideas

[@n0vi]

Every hospital already does this, it's the "medical records" department. Rev-cycle shit.

[@SparkZ1420]

No. Hospitals are scumbags

[@JiggerjoggernoHGer]

I thought India had free healthcare

[@carbq5280]

As a middle class guy I always hear the phrase "yeah I'm addicted to _______ but I still go to work so I don't have a problem"

[@Demention94]

"Get your rulers and your penciles out"

[@stevendouglas3781]

Kind of a goofy strawman. People don’t want to fuck up their credit score. Has nothing to do with being nice to the bankers.

[@Safe-and-effective]

"50 laws for financial dominance"...where?

[@Flavorstick311]

I do it for my dotta

[@BananaPhoPhilly]

Why do they always talk about debt lol how hard is it to just not fucking take out stupid loans you can’t pay

[@SmileyPineconey]

Because it’s awesome to pay for something you want/need with someone else’s money

[@showsister69]

Because the boomers fucked us now we fuck them

[@jaypioh]

because its free money, Mr Smart Guy

[@G4f5jo9pu7T]

Did you say 1 grillion dollars?

[@SuperSenis]

I can't take anything you say seriously if you wear black socks with white shoes. Can't picture your outfit, you visionary?! 😆

[@akompsupport]

So good!

[@MrBongobongbongo]

Loosh system

[@gm-bh5tg]

Last.

[@purpledurtysprite]

g'wow

[@woodywong76]

I love Sam but this is the dumbest idea I've ever heard.

[@EllisHudsonn]

Average old person:

[@buddhaspriest]

Student loans can be fully waived after ten years of temp waivers.

[@MrSh4des]

In the US right? Unfortunately I'm in canada.

[@nolanmartin6601]

@@MrSh4des You gotta pay off the provincial loan, thats the loan that has interest. The federal one doesnt have any interest, you could pay it out over 30 years and some people do lol

[@MisterMemeDude]

137th comment

[@Ssm19494]

First

[@bobvegana9648]

No

[@jhonviel7381]

imagine talking this much...

[@SuperLazyCat]

Sam has the worst advice for credit holy shit

[@SuperLazyCat]

Lol Sam doesn’t understand how interest rates work 😂

[@jaypioh]

even with interest its irrelevant "😂"

[@chillier8363]

Yea dumb take. If you make money with the debt somehow that exceeds the cost of interest its well worth it otherwise no beuno

[@4thOfJulyMamasApplePie]

Lmao it’s true. Im glad he’s learning but damn dude.. debt, interest, and inflation are not secret knowledge

[@dungeonmaster6292]

Yes yes they're all good ideas and work....until they don't. How risk tolerant are you? Do you have anything to lose?