Wwhoa.
Postmaster
Joined: Jan 2005
Posts: 3,461
Likes: 0
From: Saskatoon, SK
Its the same scenario around here for the bankrupt boys! Rumor has it that every time they do it they get better at it!
I dont understand how that works but some people have it figured out. A real good example is when a chunk of farmland comes up for sale and a normal guy will back away when the price gets too high because the numbers dont work for paying off a loan that size. Some guys will go full throttle bidding until they get it, end up bankrupt with debt right downs, and still own the property. Its f*****g bs if you ask me!
I dont understand how that works but some people have it figured out. A real good example is when a chunk of farmland comes up for sale and a normal guy will back away when the price gets too high because the numbers dont work for paying off a loan that size. Some guys will go full throttle bidding until they get it, end up bankrupt with debt right downs, and still own the property. Its f*****g bs if you ask me!
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Postmaster
Joined: Oct 2004
Posts: 4,402
Likes: 1
From: Delisle/Vanscoy, Sk.
There was a backhoe operator who declared bankruptcy to avoid collectors and the government. He be doing work without permits and such. Then the government would come and fine him or the person he did work for would sue for getting fines and paying penaltys to the goverment.
He always put the business and equip in his kids names so they could not touch the equip or the shops. He was always renting that from his kids.
Then he start up again under a different name for his business. He preys on cabin owners who do not live in the area. That way they do not know about his rep.
He keeps on going. He maybe gone now. That was over 10 years ago.
He always put the business and equip in his kids names so they could not touch the equip or the shops. He was always renting that from his kids.
Then he start up again under a different name for his business. He preys on cabin owners who do not live in the area. That way they do not know about his rep.
He keeps on going. He maybe gone now. That was over 10 years ago.
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