Thread: I made the Worst Mistake of my Life! Lost $15K School Loan

Hi everyone, I'm hoping someone can help me get back on my feet after making the stupidest mistake ever in my life.

I trusted an old acquaintance's word, and sent $14,500 from my school loan to the Philippines in exchange for 20 brand new sony vaio laptops (VPCF22BFX) that were supposed to be drop shipped and brokered in to me directly from a factory. I sent the money via western union, and then my "friend's" cell phone went out of service the next day and he was no where to be found.

I figured i could resell the laptops and double my investment. Now i'm struggling to make up enough money to pay for just my next semester (i'm not thinking of the other 3 school years ahead of me yet).

I've already accepted that I was stupid and naive, but feel free to weight in on how that is only the tip of the iceberg; my friends and family already have.

Constructively, Is there anything i can do?

I've already filed a police report, but they say there is not much that they can do to refund my lost money and that theyre looking in to it.

Lesson: Do not trust those who you "think" you can trust.

Anyway, i'm hoping someone can help me recover from this mistake with advice. I'm working 3 jobs now, and cutting grass and washing cars in what ever little time i have left. I'm happy that i'm in good shape, so working hard doesn't get to me much.

This is the last thing i thought i'd ever have to do, but i need to be humble to survive, so i made a paypal donate button for anyone who could spare anything.

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Thanks so much,
Shawn

JamesF, What do you mean?

I guess i should state my intentions. I'm looking for help with my situation.

How can i recover from a 15K debt? I still owe the bank.

Thanks

Its only natural and a part of the learning process in business. I lost 300 dollars when i was 16 on a weed deal where i trusted someone to take my money and come back with product. Obviously that didn't pan out like expected.

I was taught that if I didn't have anything nice or positive to say...say nothing at all. So I will try my best...

You can recover from a 15k debt by first not asking for a hand out. Second take accountability and learn from your mistake. Third take some time and read through this forum and the MFL book. That is worth alot more than the spare change someone can give you.

David

You guys are right. I'm reading my post over and it does sound pretty bad... i thought it would be a good idea to post on a forum like this for some help after some googling, and the donation idea came to mind. I didn't mean to disrespect anybody.

After reflecting on my situation further, i realize that there is no way to get rich quickly (or out of debt) without having prior experience. I obviously have a lot to learn so i'll take dec360's advice and read through the forum for tips, and apply them to my life as best as i could.

Thanks guys.

I'm currently in a business that involves western union. You wouldn't believe the amount of scams going on at any given time. People willing send thousands and thousands of dollars to people that they have never met every day. It's really sad when you see the elderly spend their life saving on this kind of stuff.

Originally Posted by Russ H

ShawnJF,

Do this right and chances are you will look back on this and see it as a turning point in your life-- one of the BEST things that ever happened to you.

Take responsibility for your actions (ie, don't default on the student loan, pay it off), and dig yourself out of the hole you're in.

Get creative-- but NOT get rich quick. Supply a product or service that meets fastlane principles to your college buddies/community-- or to a greater/larger audience. Work that plan.

Learn. Learn. Learn.

Mistakes are just the world's way of keeping you honest-- and hungry.

Learn from your mistakes-- really, truly learn from them, and how to avoid making similar mistakes--and you go far.

-Russ H.

PS Looking forward to reading your intro in the introductions section. Becoming a member of this community will get you-- and keep you-- out of this mess faster than anything else I know.

Thanks a lot Russ, I'm a go getter, and your words have inspired me. I already feel like a better and smarter person after learning from my mistake, and i can only go up from here.

I'm going to put some serious thought in to finding a product or service that everyone on res could use. There's easily a few thousand potential customers in there... I want to start with something small so i don't end up deeper in my hole.

You'll never make it in life with this attitude. This is why, I was homeless last week, and when I was homeless I was actually celebrating the fact that I was, since I realize I couldn't be lower than that state of my life. I actually was living a high life, and I had more fun than I ever had in my life. Sure, I'm not in 15 k in debt like you are, but if I was... I probably be banned to explain my way to earn 15 k ... lol but it revolves around cameras and California. Anyways, you can't ask people for money, and not online. I never asked anyone to pay for my things, but I worked at it...

You work for it, you get it. I'll never be hungry again.

I had gotten myself out of homelessness through my intelligence and quick thinking. I never slept at night on the streets. 1st night I found a solution, second night, and the third (which happens to be my current situation)

This was last week too. I'll tell you why I went homeless, I choose to be homeless, I could had went home. But my hair has been destroyed, and I will never allow anyone see me at my ugliest. I could be crazy, but at least I solve my issue.

I actually don't care about you either, and nor does anyone care about me. But one thing I never will do is regret my past, since it made who I am today. The greatest being on the planet.

So moral of the story...

Hair grows back, debt can be paid, but you're alive and can change the world.

I sure can't say I am a rag-to-riches success story, but that doesn't matter. I can be happy in poverty, and I can be happy in riches. Money doesn't make me happy. Freedom does, and money gives freedom.

Be grateful you're young, since age can't be fixed. Be grateful you can read/write, since many can't. Be grateful you're not in prison, since many innocent people go there. Be grateful for what you are now, since you could be way worse.

15 k is just money after all, and money is just material. And material can be replace.

That's my issue... I make money sound like the glorious trophy, but in reality, money doesn't mean anything. It's nice to have though.

But I would give all the money in the world to be young rather than 80 years old, heck even 50 (I'm young lol). I would give all the money in the world to not be HIV (I don't have that), I'll give all the money in the world to have my fingers, or my legs, (I have them all). What I am saying is, life could be a tragedy if your happiness is derive from other sources than money.

So losing money is your problem... consider yourself lucky.

I can get all of your money back, you just need to western union me $1000 tonight, asap. Before the trail goes cold. Jk, I had to say it. Now I'll make up for it.

My brother got blown up in Iraq, received $100,000 partial life insurance payout for being f'ed up so bad. He blew $70,000 and bought a boat with the remaining $30,000. Having never sailed before he decided he would sail to Hawaii in October 2008 to come visit me. 700 miles out from San Diego he was caught in the swell from hurricane norbert. His old ass boat couldn't take it and the rudder stopped working, he freaked out and called for rescue. On board he had everything he owned. Coast guard said 700 miles is too far for us, good luck. Luckily the MV Vecchio Bridge, a container vessel headed to Shanghai, redirected and rescued him. We had a blog and I was updating it live from the moment he sold his house, to the day his boat sank. He asked me to put up a pay pal donation button since he just lost everything he owned. From the beginning it was his site and I would not edit anything, so I did it. That really made him look like an asshole. No one donated, there were about 500 people following the journey. He had 12 days on the container ship to Shanghai to contemplate his situation. No boat, no personal belongings, everything lost, but his phone and a couple hundred in the bank. Plus he gets $500 a month from the government for being blown up. China told him to f off and leave Shanghai in 12 hours, because of the whole no visa thing. He flew to Hong Kong, waited a month then bicycled to England, flew over Myanmar and Iran in a plane. (his story goes on forever at his site Home | Open Blue Horizon)

So at least you didn't lose everything, I know that doesn't really help. Just remember its only money and never do something like that again. I almost didn't by Marco's book because I thought he was a money chaser, until I read it, and that was only $9.95. Be careful of the easy come, easy go mentality. They gave you $15k, and you blew it. They gave my brother $100k and he blew it. Read Millionaire Fast Lane and count this as lesson learned, but man that still sucks.

I made a mistake like this my sophmore year of college. T'was one of the best lessons I've ever learned. I'm thankful for it because now that crap sends off a warning bell inside my head similar to that of a volcano exploding 300 yards from your front porch as you sit there trying to drink your morning coffee.

Hey Shawn -

If this is the worst mistake you have made in your life you are either young, clever, or both.

The only way to really learn in life is by failing and then learning from our failures.

You need to pick yourself up, dust yourself off, and go out there and start making more mistakes!

Enjoy the journey!

JWH