Each of us lives only now, in this brief instant. The rest has been lived already. So make the most thoughtful choices you can today that will lead to a better future.
Steve's Thought of the Day
Stop drifting and hoping a magic solution will appear. Instead, you can participate in rescuing yourself. Find peace by pursuing facts through trusted advisers and research rather than the blind trust of salespeople trying to sell you something by almost any means necessary.
Steve's Thought of the Day
Make decisions to deal with your debt with logic and facts, not assumptions, and worry about what other people will think. People who judge you will soon be forgotten. Nobody thinks about anyone that much.
Steve's Thought of the Day
The world is nothing but constant change. Your life is only a perception. Choose a way out of debt based on facts, not assumptions. Do what is best for your future because those that judge you will not feed you.
Steve's Thought of the Day
Do you have a greater responsibility to repair your financial past or your financial present and future? Make good choices that allow you to tackle your debt and immediately start building your emergency fund and saving for retirement. Tomorrow will be here before you know it. Lost time is a sin.
Steve's Thought of the Day
There is no sense in wasting a perfectly good financial mistake. Instead, learn from it and do better moving forward. The past is gone. Turn and face the future now.
Steve's Thought of the Day
Those who judge you for past financial mistakes are not your friends. So don't make choices about your future out of fear of what they may think. Instead, make choices based on truth, fact, and what is best for you moving forward from today.
Steve's Thought of the Day
Don't believe everything you think. Challenge your assumptions about getting out of debt. Do what is best for you, not others.
Steve's Thought of the Day
Is it less moral to file bankruptcy or to not take action that leaves you old, broke, hungry, and dependent on others?
Steve's Thought of the Day
If bankruptcy is so bad, why did our Founding Fathers specifically include it in the U.S. Constitution as protection for financial difficulties?
Stop listening to people that say bankruptcy is a last resort. It is neither first nor last. It is a tool like credit counseling, debt settlement, and others. For the best result, you need to use the right tool for the job.
Steve's Thought of the Day
People that tell you to avoid bankruptcy want to sell you something else are repeating something they heard or do not know what they are talking about. Get the facts and then make your own decision. Don't let an unskilled script-reading commissioned salesperson make life decisions for you.
Steve's Thought of the Day
Debt problems are like fingerprints. No two are alike. A one-size-fits-all solution will give you a one-size-fits-all result. You deserve better.
Steve's Thought of the Day
You are not your debt. Your value, self-esteem, and existence should not be defined by the money troubles you may be facing right now. Debt problems are solved with proper action, not guilt, self-hatred, and disgust.
Steve's Thought of the Day
Debt is nothing more than math wrapped in emotion. The math is easy, the emotional part leads us to do impulsive things. Not the right thing.
Steve's Thought of the Day
What type of money personality do you have? It is important to know. Take my online test now and discover how you unconsciously deal with money, credit, and debt.
Steve's Thought of the Day
How much retirement savings are you willing to throw away by dealing with your old debt instead of preparing for your financial future? Find how much you will lose by making the wrong choice. Use my online debt repayment calculator now.
Steve's Thought of the Day
Does it make more sense to ask for life-altering debt advice from an unskilled and untrained commissioned salesperson in a call center or an experienced debt coach like Damon Day that provides a customized solution for money troubles?
Steve's Thought of the Day
What Happens if I Default on My Stock Options Loan? – Joyce
Retired from 5/3 Bank in 2003 I was offered a loan to purchase my Stock Options. These options were at $40.+ and $50.+ per share. I have a loan for $36,300 at prime with quarterly interest with no maturity date. The stock price now is around $2.00 per share. The collateral for this loan is the stock.
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What happens if I default on this loan?
Joyce”
Dear Joyce,
I don’t know specifically but I can see it being anything good. Besides some possible tax consequences and personal pursuit for the debt, I’ve seen very few situations where someone was able to walk away with no repercussion.
Before you do anything I would advise you to check with a lawyer licensed in your state for specific advice about what your legal liability for this loan is beyond the collateral.
Additionally, I think you need to speak to a tax adviser and ask if there is a taxable event to you as the result of not paying back this loan. If it is viewed as forgiven debt you could owe income tax on the loan amount and that’s not something to sneeze at.
Sincerely,
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
2 thoughts on “What Happens if I Default on My Stock Options Loan? – Joyce”
I am Mr Gerrad Goosh a Deputy loan lender, we give out loan to Business Men or women who are into Business transaction or those seeking personal loan with an interest rate of 3% per annum. Our lending firm comprises of share holders, and we are recognized by the Lenders Association of Netherlands. This Financial Institution was founded in 1999,The unbeatable Financial Institution which has spread far and wide, known for its efficiency and professionalism.We welcome you and want to guarantee you that you will get the best services here.Your progress is our pride. For more information contact us today at: [XXXXX] Below is a personal detail guide. Please fill it and return to us as soon as possible.
BORROWERS DATA FORM
Firstname: ……………………………………. Surname: ……………………………………… Address: ……………………………………… City : ……………………………………….. State/province: ……………………………….. Country: ……………………………………… Mobile Tel: …………………………………… postal/Zip code: ………………………………. Amount of loan needed : ………………………… Period of repayment : ………………………….. Mode of payment: ………………………………. Occupation: …………………………………… Yearly Income: …………………………………
I am Mr Gerrad Goosh a Deputy loan lender, we give out loan to Business Men or
women who are into Business transaction or those seeking personal loan
with an interest rate of 3% per annum. Our lending firm comprises of share
holders, and we are recognized by the Lenders Association of Netherlands.
This Financial Institution was founded in 1999,The unbeatable Financial
Institution which has spread far and wide, known for its efficiency and
professionalism.We welcome you and want to guarantee you that you will get
the best services here.Your progress is our pride. For more information
contact us today at: [XXXXX] Below is a personal detail guide.
Please fill it and return to us as soon as possible.
BORROWERS DATA FORM
Firstname: …………………………………….
Surname: ………………………………………
Address: ………………………………………
City : ………………………………………..
State/province: ………………………………..
Country: ………………………………………
Mobile Tel: ……………………………………
postal/Zip code: ……………………………….
Amount of loan needed : …………………………
Period of repayment : …………………………..
Mode of payment: ……………………………….
Occupation: ……………………………………
Yearly Income: …………………………………
Mr gerrad
Mr. Gerrad,
Sadly I’m sure many desperate people fall for this scam. It’s a take off on the below market apartment rent / to let scam.
If anyone sees anything like the message above, run away.
Steve