Quote from: rexcoin on December 04, 2012, 08:02:03 PM

Quote from: DeathAndTaxes on December 04, 2012, 05:30:10 PM

Quote from: lightlord on December 04, 2012, 01:59:43 PM

Do note, he may want to pay them all back immediately, and then assign a new contract with a different person on those terms.
The previous people that he owes, may not want to wait 10 months to get it all back, and it may be out of their terms.
So making a new term with another person may resolve the previous terms, and give 10 months of time, vs less time.

He has already defaulted. Getting a long duration loan to avoid a default might make sense (usually it doesn't). In this case he has defaulted. The creditors are kinda between a rock and a hard place. At this point simply take the ~10 BTC he "could" pay on the new loan and apply it to the old defaulted loans. Is it optimal for the new creditors? No but they can always sell the debt directly to a new creditor or they can accept repayment over 10 months is better than getting zero.

The idea of borrowing to get out of debt is just silly. More likely the OP borrows, doesn't pay the creditors, and defaults on this note too. Then what next a third sob story about how he needs a 250 BTC note to cover both sets of bad notes and he will use 50% of his SSI payment to repay it?

TL/DR If he can pay 10 BTC a month then pay it towards the existing debt. There is no need for a new loan unless the intent to defraud more creditors.

Thanks for keep mentioning i defaulted when i already stated that myself even in the thread title.
And i see my 4 year old niece knows math better then you ether that you cant read or you just trolling?
How the fuck am i going to need 250 BTC to cover 100 BTC loan? the 100 bitcoins if i got this loan would go to maged in which he would pay the people i owe.

Man, fuck the hand out beggers.. Doesn't work.. Collects SSI.. defaults on loans.. can't spell, or speak proper english, and wonders why he can't get a job... pathetic waste of human.