The $101,000 Briefcase: Keep or give away?

[madoka]

How do you get $400k in debt? That's just mind-boggling.

On two of my homes, I'm a combined $560K in debt. Seems normal to me.

 

[Atomic Playboy]

On two of my homes, I'm a combined $560K in debt. Seems normal to me.

Yeah, but I'm guessing you have the income to justify a reputable lending institution into advancing that sort of loan. How does someone get $400k in debt and then need to go on a TV game show to make ends meet? If you're comfortably paying off your mortgages, you don't look for the "holy shit my life is in shambles" jackpot show to help you out.

 

[nageov3t]

On two of my homes, I'm a combined $560K in debt. Seems normal to me.

unless you can't make the monthly mortgage payments, though, I wouldn't include home debt as part of some kind of crippling debt meant to inspire pity.

and if you can't make the payments, clearly selling the house and declaring bankruptcy if necessary is going to be a better long-term solution than a 1-time cash hand out.

 

[NetWareHead]

Keep it all. You get 100K in a windfall like that, you still have to pay taxes on it as Im sure the IRS would consider it income. What tax bracket is that in....28% or something? So right off the bat you are left with 72K if you dont do any creative accounting, deductions etc...

 

[Jeff7]

Yeah, but I'm guessing you have the income to justify a reputable lending institution into advancing that sort of loan. How does someone get $400k in debt and then need to go on a TV game show to make ends meet? If you're comfortably paying off your mortgages, you don't look for the "holy shit my life is in shambles" jackpot show to help you out.

If in the US: Medical bills for some serious chronic illness.

 

[RearAdmiral]

I watched half of an episode last week. It made me feel a whole lot better about myself and my situation. It also made me borderline sick to watch so I shut it off after half the ep.

I have zero clue what I'd do. Talk is cheap yo!

 

[Atomic Playboy]

If in the US: Medical bills for some serious chronic illness.

Good point. A friend of mine had a surprise heart attack (in his 20s, no less) and would've faced a $500k+ hospital bill had the hospital not also been a research university that comped him so they could use him as a case study. Medical bankruptcies are insane, and far too common.

 

[Fritzo]

unless you can't make the monthly mortgage payments, though, I wouldn't include home debt as part of some kind of crippling debt meant to inspire pity.

and if you can't make the payments, clearly selling the house and declaring bankruptcy if necessary is going to be a better long-term solution than a 1-time cash hand out.

I'm 50K in debit over medical expenses. Top that bitches!

We have an HSA, I make payments from a $600 a month account. They seem happy with that.

 

[MustISO]

My initial instinct is off course to keep it all but I would like to help out someone else if I did get free money so I guess I would split it.

 

[Red Squirrel]

I would split it, but I imagine this is one of those situations where they wont even give you full details on the family if you choose to keep it, so it's probably all or nothing. Talk about putting people in a bad situation on national TV though.

 

[Sonikku]

These people aren't really poor. They look like Americans with healthy middle class incomes/cars/nice houses etc they just don't know how to manage their money. When I think poor I think I think below the poverty line, no car, no cushion when the fridge breaks down, holding the house and appliances together with glue and Popsicle sticks and a couple hail Mary's. If you're working full time on minimum wage making $15k a year faced with your only possible escape involving taking on unimaginable student loan debt, then yeah. You're poor. If you're making 60k a year and living like you make 80k a year then you're just a dumbass. Money won't cure that.

 

[DaveSimmons]

Pay some Hired Goons to teach the show producers to be less evil in their next life.

 

[Regs]

I would have to really sell my non-selfishness on the show. "Ohh - even without these cameras and producers up my ass, I would give this briefcase of 101,000 dollars + interest to tiny fucking tim"

Reality:

 

[ultimatebob]

I'd keep half. There is no way I'd give it all away... with my luck, the other bastard would decide to keep theirs and I'd end up with nothing.

We need another poll option!

 

[SKORPI0]

Rerun of 1st episode just started. Looks so staged and fake. ^_^
Why can't this ever happen to me.... :'biggrin:

 

[Childs]

I dont really need to money and since its a show I'd just give the other family the case. But if I found a case on the street or in an alley, I would keep it without trying to redistribute it. I honestly dont think giving money to people who cant manage money will help. Its like throwing it away.