Orange County Choppers Headquarters Facing Foreclosure
#91
12-07-2010, 10:50 PM
[quote="Dutch";7629270]
You do realize there has to be some sort of compensation for just being on the show don't you? Business actually profiting or not, they are all being paid very well STILL!
You sound like the last collection agent that called my house... 
You certainly don't understand that the banks can simply write off any unrecoverable debt. But they will foreclose on any property they have before, then resell it at a greatly reduced price, and still collect the remainder through tax write-offs/insurance and use the bankrupt laws to their advantage. If the credit holder were to go out of business because of lost debts, you can bet your *** that they covered all profits leading to that point. They have a ton of lawyers standing by, just for that purpose. So, by your definition, the credit agency would also fall under the title of 'scum'...[/quote]
...and the 9-5 white collar workers have finally arrive! Yes folks that ball right there went deep to the left center wall and out of the park. Ball game, Johnny...ball game. Great hit by Croc number 7 in your programs ladies and gentleman....
Everyone will see how much business sense that fu manchu asshat really has once the paperwork is final. Yeah, it looks like great business moves now. He has INVESTORS backing the bills. They, most likely, told him to stop making the payments. Let it go to foreclosure. We will file for Chapter 11; you keep the business and everyone is happy.
Only he will be the one holding the bag smelling of rotten fecial matter; left with the remaining debt amount. Known as the 20% lender on that 80-20 split.
Yeah the bank can write that off, but they want hard money if they can get it. Not a later "write-off" that is technically future money, unseen.
Hope he did not like that house, jr so eloquently felt he paid for...that very well could be gone. Not that he will lose it to pay any debt, but to live the remaining years of his life without fear of having no money. Known as downsizing...
You certainly don't understand that the banks can simply write off any unrecoverable debt. But they will foreclose on any property they have before, then resell it at a greatly reduced price, and still collect the remainder through tax write-offs/insurance and use the bankrupt laws to their advantage. If the credit holder were to go out of business because of lost debts, you can bet your *** that they covered all profits leading to that point. They have a ton of lawyers standing by, just for that purpose. So, by your definition, the credit agency would also fall under the title of 'scum'...[/quote]
...and the 9-5 white collar workers have finally arrive! Yes folks that ball right there went deep to the left center wall and out of the park. Ball game, Johnny...ball game. Great hit by Croc number 7 in your programs ladies and gentleman....
Everyone will see how much business sense that fu manchu asshat really has once the paperwork is final. Yeah, it looks like great business moves now. He has INVESTORS backing the bills. They, most likely, told him to stop making the payments. Let it go to foreclosure. We will file for Chapter 11; you keep the business and everyone is happy.
Only he will be the one holding the bag smelling of rotten fecial matter; left with the remaining debt amount. Known as the 20% lender on that 80-20 split.
Yeah the bank can write that off, but they want hard money if they can get it. Not a later "write-off" that is technically future money, unseen.
Hope he did not like that house, jr so eloquently felt he paid for...that very well could be gone. Not that he will lose it to pay any debt, but to live the remaining years of his life without fear of having no money. Known as downsizing...
You do realize there has to be some sort of compensation for just being on the show don't you? Business actually profiting or not, they are all being paid very well STILL!
#92
12-07-2010, 11:20 PM
As I'm reading these posts, I'm also watching "meteorite men" The bike that OCC built for those guys just broke down on this episode and they couldnt get it started. They pushed it, pulled it and finally put on a trailer, pissed off.
Gary D.
Gary D.
#93
12-07-2010, 11:50 PM
[QUOTE=CroK;7629202]You sound like the last collection agent that called my house...
You certainly don't understand that the banks can simply write off any unrecoverable debt. But they will foreclose on any property they have before, then resell it at a greatly reduced price, and still collect the remainder through tax write-offs/insurance. If the credit holder were to go out of business because of nonrecoverable loans, you can bet your *** that they covered all profits leading to that point, and use the bankrupt laws to their advantage. They have a ton of lawyers standing by, just for that purpose. So, by your definition, the credit agency would also fall under the title of 'scum'...
Yes, I do understand the convoluted banking system and the BK laws, I have a real problem with a individual that has made a lot of money, squandered it and now we the public are holding the bag. Just ghetto in my understanding. There was a day when people would be ashamed of BK and second mortgages. But how have things changed.
I understand it but I sure as hell do not have to like it.
You certainly don't understand that the banks can simply write off any unrecoverable debt. But they will foreclose on any property they have before, then resell it at a greatly reduced price, and still collect the remainder through tax write-offs/insurance. If the credit holder were to go out of business because of nonrecoverable loans, you can bet your *** that they covered all profits leading to that point, and use the bankrupt laws to their advantage. They have a ton of lawyers standing by, just for that purpose. So, by your definition, the credit agency would also fall under the title of 'scum'...
Yes, I do understand the convoluted banking system and the BK laws, I have a real problem with a individual that has made a lot of money, squandered it and now we the public are holding the bag. Just ghetto in my understanding. There was a day when people would be ashamed of BK and second mortgages. But how have things changed.
I understand it but I sure as hell do not have to like it.
#97
12-08-2010, 07:06 AM
Y'all are missing the point, IMHO...
Bankruptcy is a tool to be used as a part of the company's growth strategy, "Business as usual". The family is not what the show is about. They just bring in viewers. The show is the business, the bikes they build are just advertisement for the companies that 'have bikes built for them'.
I've never been to OCC headquarters, but I've heard they still have all the bikes they built in the showroom. If that is true, how could the OCC company have made any money other than what was paid out by TLC and Discovery channels? Like any daytime soap opera, night time soaps endure by creating shows which will get the audience to tune in next week. TLC and Discovery channel must have made some profit with the advertising scheme, or the show would have been canceled long ago...
Bankruptcy is a tool to be used as a part of the company's growth strategy, "Business as usual". The family is not what the show is about. They just bring in viewers. The show is the business, the bikes they build are just advertisement for the companies that 'have bikes built for them'.
I've never been to OCC headquarters, but I've heard they still have all the bikes they built in the showroom. If that is true, how could the OCC company have made any money other than what was paid out by TLC and Discovery channels? Like any daytime soap opera, night time soaps endure by creating shows which will get the audience to tune in next week. TLC and Discovery channel must have made some profit with the advertising scheme, or the show would have been canceled long ago...
#98
12-08-2010, 09:24 AM
Okay, here ya go... It'a dysfunctional family on TV. You don't like it, don't watch it. Sr. (or his accountant) is actually making a good, business decision - why lose $5 mil if you don't have to? You can walk away from your house as well if you choose to when it goes upside down financially. (Yeah, I can already hear you - it's not morally ethical - but it is legal.)
Not really sure why there is so much hostility towards them... with all the anger here, you'd think these guys showed up at your Mom's house and robbed her at gun point! Go ahead, bury me!
Not really sure why there is so much hostility towards them... with all the anger here, you'd think these guys showed up at your Mom's house and robbed her at gun point! Go ahead, bury me!
#99
12-08-2010, 09:45 AM
Elite HDF Member
Just like everyone else, the value of a piece of property I purchased in 2007 has dropped drastically, but my lender is not my business partner so I can not arbitrarily decide on my own to lower (or eleminate) my monthly payments - I owe what I borrowed, a deal is a deal. Just because the market tanked does not mean that I owe less than what I borrowed. What makes this tool think he's any different. You may be able to refinance and get more favorable rates or terms, but the loan amount is not subject to the vagrancies of the market. If you borrow a dollar, you owe a dollar. He is truly an arrogant asshat.
#100
12-08-2010, 10:08 AM
Kinda like the program ya can't stand to watch, but end up watching just to see what dysfunctional tidbit they're gonna do next....
Senior seems to be a arrogant ***, Jr a spoiled kid with delusions of grandeur and Mikey ought to thank the powers to be every morning that there's someone taking care of him.
I'd never buy a bike or much less anything else from them, also consider them **** poor bike assemblers and thank God their not my neighbors, but they are the family ya love to watch.
Ya would think it'd be hard to get worse, but they seem to be able to do this, week by week...
Al
Senior seems to be a arrogant ***, Jr a spoiled kid with delusions of grandeur and Mikey ought to thank the powers to be every morning that there's someone taking care of him.
I'd never buy a bike or much less anything else from them, also consider them **** poor bike assemblers and thank God their not my neighbors, but they are the family ya love to watch.
Ya would think it'd be hard to get worse, but they seem to be able to do this, week by week...
Al