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#21
Old 05-23-2012, 10:44 PM
RwK
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Quote:
Originally Posted by Check View Post
You wouldn't get very far because you wouldn't have the money. I've taken some big amounts out of the bank and you might think cash from your savings/checking is liquid, which it is, but it takes time for a bank to get the money. You go to a bank and ask for 50,000 dollars it can take almost 3 days to get the money. If you wanted 200 million dollars it would take a long ass time.
Call JG Wentworth because it's your money, use it when you need it.
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#22
Old 05-23-2012, 10:45 PM
Check
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Originally Posted by RwK View Post
Call JG Wentworth because it's your money, use it when you need it.
I love those late night commercials. I wonder how much of a cut Mr.Wentworth would want out of 200 mil.
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#23
Old 05-23-2012, 10:48 PM
RwK
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Originally Posted by Check View Post
I love those late night commercials. I wonder how much of a cut Mr.Wentworth would want out of 200 mil.
Off the top of my head I'd say most viatical settlers will ask 30%.

I mean what options do you really have with the money? You can defer the bulk into what? an Annuity? But you can't touch the money until you're old or else it's going to be taxed to hell.
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#24
Old 05-23-2012, 10:48 PM
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if it's that kind of amount, i would report it. i wouldn't spend any found money that i wouldn't be able to pay back. always think of the consequences.
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#25
Old 05-23-2012, 10:52 PM
Check
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Originally Posted by RwK View Post
Off the top of my head I'd say most viatical settlers will ask 30%.

I mean what options do you really have with the money? You can defer the bulk into what? an Annuity? But you can't touch the money until you're old or else it's going to be taxed to hell.
It's all bs. I really hate the IRS and the government. I care very little about majority of the stuff they do but when it comes to money it makes my blood boil.
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#26
Old 05-23-2012, 10:54 PM
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Quote:
Originally Posted by Check View Post
You wouldn't get very far because you wouldn't have the money. I've taken some big amounts out of the bank and you might think cash from your savings/checking is liquid, which it is, but it takes time for a bank to get the money. You go to a bank and ask for 50,000 dollars it can take almost 3 days to get the money. If you wanted 200 million dollars it would take a long ass time.
it takes longer than that.

i tried withdrawing a million dollars from my bank 2 yrs ago and guess what?

i still don't have it.
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#27
Old 05-23-2012, 10:56 PM
RwK
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Originally Posted by Check View Post
It's all bs. I really hate the IRS and the government. I care very little about majority of the stuff they do but when it comes to money it makes my blood boil.
In many ways, (not defending the IRS) they do much of that in order to protect people's investments. However the FED's main reasoning can't simply be to serve as a retirement vehicle for seniors...........they need money.

But they also need the money to be there in the future............which is why investment vehicles are only taxable on payout.

The money you put in is not taxed........the money coming out is.

For the sake of our discussion the government would like to know where the money came from and exactly what you are going to do with it.
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#28
Old 05-23-2012, 10:59 PM
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this is what i wouldve said:

"i was expecting a large amount of inheritance from my grandmas death."
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#29
Old 05-23-2012, 11:03 PM
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Originally Posted by vcvc View Post
if i got that 200 million im cashing out and getting off to my own private villa in colombia, **** the 12000 interst.
yea in your perfect world.

200M cannot be cashed out in a day. the bank would have to do some intense research before lending you out 3 armored vehicles. and they would empty out the whole states branch of banks of cash
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#30
Old 05-23-2012, 11:07 PM
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Originally Posted by Frogs! View Post
be sure to wear a ski mask while doing so.
lol walk up to the teller wearing camo ski mask and respirator...........using a voice modulator and sh1t.
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