Possible Denial Question

[markgrutz]

I have a friend of mine (yes, and actual friend not me) who was talking to me yesterday about buying his first firearm. He has no criminal record, but is in some trouble with the IRS and MD in the tax department. Would owing a large sum to both the IRS and MD be cause for denial of either a regulated or non-regulated firearm? Just for the record we are talking about $80K behind.... and he said it was ok to post this to the group.

Mark

 

[trickg]

That's a financial thing - not a criminal thing. Unless he's been indicted for a felony financial offense, it should have no bearing on his ability to qualify for any kind of normal, regulated firearm.

 

[markgrutz]

Thank You, I shall pass it on.

Mark

 

[MonkeyPunch]

Not to argue over priorities - but why would someone spend any money they didn't have to when they are $80,000 in debt? Any gun he purchases can just be repo'd...

 

[markgrutz]

Not to argue over priorities - but why would someone spend any money they didn't have to when they are $80,000 in debt? Any gun he purchases can just be repo'd...

Don't even get me started.... I agree 100%, I don't spend a dime that I don't have. Until today I only had a debit card and no credit card, but I anticipate a couple new purchases in the coming months

If I owed that much I wouldn't be able to sleep. I would expect a visit from the IRS with a moving van any day, but he dosn't seem to care. I have tried to discourage this as much as I can, but he is an "adult" so.... to each his own.

Mark

 

[Hopalong]

Don't even get me started.... I agree 100%, I don't spend a dime that I don't have. Until today I only had a debit card and no credit card, but I anticipate a couple new purchases in the coming months

Side note: maintaining reasonable balances on credit cards (under 33% of your max limit or so) while making all of your payments on time actually is much better for your credit score than skipping credit cards completely. Of course, the "reasonable" part is hard for a lot of folks, which is how they get into trouble with interest, late fees, etc.

Best of luck to your friend. Being buried under debt is never a good place to be.

 

[MonkeyPunch]

Side note: maintaining reasonable balances on credit cards (under 33% of your max limit or so) while making all of your payments on time actually is much better for your credit score than skipping credit cards completely. Of course, the "reasonable" part is hard for a lot of folks, which is how they get into trouble with interest, late fees, etc.

Best of luck to your friend. Being buried under debt is never a good place to be.

^This.

[Rant]
Although to be honest - it's all a shell game: currently people are getting higher credit scores based upon the ROI they generate for the credit card companies, rather than responsible spending habits (ie - you owe them interest/fines/penalties and pay = everyone wants you to owe them money = higher score).

The silly part is that for any true purchase that would require a loan (purchasing real estate, for example), you would still end up paying upwards of 15% (or 30% if you have a poor credit score) for the purchase in interest. If you live a bit more moderately, you can pay in one lump sum and save tens of thousands of dollars.

I guess people would rather have the new house/car/etc immediately, rather than live moderately and then buy the house/car/etc in 5-10 years and have $50,000 for whatever else they want.
[/rant]

 

[Vile Shadow]

Side note: maintaining reasonable balances on credit cards (under 33% of your max limit or so) while making all of your payments on time actually is much better for your credit score than skipping credit cards completely. Of course, the "reasonable" part is hard for a lot of folks, which is how they get into trouble with interest, late fees, etc.

Best of luck to your friend. Being buried under debt is never a good place to be.

True. That's why it's good to have more than one, so you can take advantage of balance transfers. I have three. I make all purchases with one, then transfer the balances to the other 2, which are convenient to pay locally.

I reckon I just derailed this one huh?