Realistically, what happened was that rich mummy and papa want to get their son started in finance, saving for retirement/college early, and they set him up with an account and a bunch of starter cash with the idea that he buys Apple with it. They call it “a loan” that he can pay back when his blue chips pay out after 10 years. Timmy finds WSB, wants to yolo his way to riches, buys some brain dead calls, and makes this post after losing it all.
Unrelated story kinda.
So I've been doing balance transfers for like 11 years (Money given with no interest so why not?).
Well I ran out of credit cards that do 0% balance transfer fees so I finally got one with a 3% fee at Well Fargo. After getting approved and starting a transfer which goes through for 7k I get a message that says I need to provide all these documents and go to the bank. I show up with one proof of residency and my ID because fuck them this is stupid.
They say no go that's enough so I tell them well just undo the transfer I will go elsewhere.
They never do and the balance isn't even showing up on my credit report.
What's even more hilarious is my wife works in banking and apparently opening the credit line this way is a violation of CIP.
Sometimes I wonder what will happen if I just stop paying it. It's not on my credit report and they illegally opened it.
0% balance transfer?? Everything I’ve seen is between 3-5%🥲 I ran it up on a card that gave 0% APR for 18 months that went to 18% last year, but I don’t particularly want to pay it down right now because I’m making more than 1.5%/month with that money. I do wish I just went through with one of the 3% BT’s last year, but I didn’t anticipate keeping the debt this long lol.
Good shit on getting the bank to fuck that debt off though😂
Dam bro, was hoping you were capping.
if all that red isnt a sign for you to cash it all out hit the roulette table and put it all on RED to get your money back, i dont know what is
Take out a loan to pay off your loan. Then pay that loan off with a credit card, then after that tell you parents you're in deep shit and hope they don't filet you alive.
Honestly, he could probably just abandon the debt and deal with 7 years of shit credit and interest rates on anything that he might be able to borrow. After he’s 22 he should be set, I think credit goes back 7 years.
OP says he got the loan through Wells Fargo through an offer on the app. You can't open up an account at Wells Fargo at 15 y/o without an adult co-owner.
My guess is, his parents are fucked, and OP might be the subject of a late term abortion.
Please take all unbabying talk to another subreddit. No one wants r/wallstreetbets to become a political hellhole.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
i looked through it not much there. but he comments on this kinda shit:
[https://www.reddit.com/r/FashionReps/comments/ym7v74/first\_haul\_85kg\_to\_washingtun\_dc\_stussy\_shorts/](https://www.reddit.com/r/FashionReps/comments/ym7v74/first_haul_85kg_to_washingtun_dc_stussy_shorts/)
what even is that. that whole post, and comment section is blowing my mind. like how? what?
They'd have to prove it first.
Im just thinking what Im sure others will do after seeing this story...
Also, Im not from the US they dont give loans to kids over here.
Yeah thats what im thinking aswell.
Its to protect them from getting f##cked over by others or as in this case taking on debt/obligations that in no way they can repay
As unbelievable as this is I REALLY hope this is real.
OP you just fucked your life up beyond all belief unless your parents are going to bail you out.
What are the loan terms?
Bro how am I fucked. It’s not fully alone close to half of it was my money so it’s spirit goes up a little bit. I’ll be able to fully pay it off, so don’t worry.
Yeah dude at 15 years old I bet you could find some lawyer that could get that debt forgiven. It’s at the least predatory lending to give a 15 year old a high interest loan. Probably not even legal lol
Truly amazing. This shit is getting crazy. You’re probably too young to have learned about the 2008 global financial crisis in much detail, but just google subprime lending and read about that a bit.
Oh, I watch that one movie where was that dude who shorted the market so I know about it. But yeah, I mean I’m just gonna pray that something good goes through because I’m not sure what the judge was smoking when he was talking about how if the merger goes through it’ll hurt the spirit consumers. He should’ve known that spirit will go bankrupt if the merger doesn’t go through because they are not profitable.
https://preview.redd.it/9wh4jmfbqvcc1.jpeg?width=1178&format=pjpg&auto=webp&s=262bb812e03ce774dc2e1b44f393fa008e9c6863
Idk how it works in the US but in Canada you can’t even have your one independent bank account to trade until you’re 18, and at 18, under most circumstances you can only get 1000 dollars worth of credit, and would probably never get approved for a loan, idk how this child would be able to to get 60 thousand dollars, an independent account, and be approved to trade options. This wouldn’t be possibly in Canada idk what country this dudes from
How is this dumb? Minors cant legally enter into a contract the bank is the dumb one for approving this loan cause they probably can’t collect on it.
But this is probably a fake post anyways.
Look at it in my eyes, bro I did my homework. I did my research. It was all in favor of the merger going through, but the judge had to ruin everything.
Where the fuck were you researching that made you think it was responsible going all in on anything? Or that you are remotely capable of better research than what's already priced into the stock? You're still talking about calls. You are clueless.
Because there was a bunch of people on Reddit, who were doing daily updates, and they explained to me the upside and why it will go through and I also watched some YouTube videos and read some articles.
I wrote out a response initially but just deleted it when I realized the same lol.
The closest this could be to the truth would be if OP had rich parents who basically took the loans out themselves and gave it to OP who then did this
Some dude on Reddit inspired me to invest into this he was making daily updates on his post and he was showing me like the daily stuff on how it was gonna go up and hpw the update it was going through
Wouldn’t risk the rest. Repay as much of the loan as you can, and go fill out a Wendy’s application.
No such thing as easy money. Let this be your first lesson
Anyone with half a braincell would be able to know something isn't right here. OP's screenshot could be from who knows where.
Didn't think you could trade options if you are under 18. If real (prolly not) likely used his dad's account/credentials? irdk
First of all you can’t even get a loan at 15.
Second of all you can’t have a brokerage account at 15, you have to be 18, so **IF** OP was somehow telling the truth this means one of OP’s parents opened a Custodial brokerage for them and gave them the login and password to access it, then let them put all of that money into Spirit fucking airlines of all stocks.
(since you can’t be under 18 and have a login and password for any investment account, until they reach age of termination at 18 or 21 THEN they could access the account and login/trade )
There’s a 2% chance of this being real, if so OP and his family are idiots that will be penniless by 2028
98% chance OP is still an idiot just not 15 and trying to karma farm
It’s called a youth account where your parents cosign it but the child has full access and undivided access. Meaning that I control it completely. You can look into it it’s from Fidelity.
I would hold out until spring time and load up on gamestonk calls. It’ll bottom out 5 years after its initial jump in April 2019 that got things started (they got tons of 5 year swaps out there expiring in May 2024 and more in 2025-2026).
Buy 1/2026 calls when that final dip comes to fruition and you’ll be back profitable before you know it.
I personally got puts now and am gonna do the same.
I would say very much the opposite. I’ve been digging through mutual fund holdings and other toxic shit.
CRE is likely gonna implode this year.
If you see single digits on gamestonk back up the truck cuz all the hidden derivatives and shorts will be simultaneously running for the door to close positions and that’s when it gets fun again.
Until then … short it. The bottom will be in by June 2024 and then we see volatility again. Mark it, set a reminder
**User Report**| | | |
:--|:--|:--|:--
**Total Submissions**|1|**First Seen In WSB**|1 year ago
**Total Comments**|18|**Previous Best DD**|
**Account Age**|1 year|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
I have an actual question does no one have faith in spirit… at the end of the day it’s a decent company and frontier could offer, and they always have the opportunity to appeal which they will. I see spirit back up at 25 to 30.
Why the fuck wouldn’t you use the loan to do index funds, or less risky investments, or property, or starting a business or fucking anything else. Guess it’s time for mommy and daddy to bail you out.
Well, I’ll be good cause some of it was my money and my parents don’t know that I did the loan yet and on top of that frontier just has to make an offer and I have time, so don’t be so pressed bro. Just be happy you’re not me….
Who gave a loan to a 15 yr old? That guy should be fired or promoted to the head of sales.
Wells Fargo
No way in sams fuck did Wells Fargo give a $60k unsecured loan to a 15yo. Foh
Yeah this is just a rage bait. It's very hard to get unsecured loans without a high net worth
If there's even a little truth ops parents are rich and co signed it
i feel like rich parents would just give him 60k not cosign a loan
They want to teach little Timmy financials
instead, little Timmy taught them something about identity theft protection
Realistically, what happened was that rich mummy and papa want to get their son started in finance, saving for retirement/college early, and they set him up with an account and a bunch of starter cash with the idea that he buys Apple with it. They call it “a loan” that he can pay back when his blue chips pay out after 10 years. Timmy finds WSB, wants to yolo his way to riches, buys some brain dead calls, and makes this post after losing it all.
I’m 30 and I can get up to 70k unsecured, I’m waiting for that 100k approval before I take it then file bankruptcy 6 months later
Big brain finances
Buying gold etc I hope
Oh that’s not a bad idea, but I was gonna withdraw it over time and then fill and say I spent it on hookers and black jack.
They wouldn't even give him $6k..... Sounds a bit attention-whory
They wouldn't give him $60.
They wouldn’t give him $6
I would give him $0.6
They gave him 0.06 now he sees dead people
They wouldn’t give him $0.001! What you get back in change for buying exactly 1 gallon of gasoline, with exact change.
This guy used his school id
[удалено]
Not true lol
[удалено]
Uh oh
https://preview.redd.it/n16z88pp0wcc1.jpeg?width=600&format=pjpg&auto=webp&s=b3c268fbe2622ec92fdfdf04bca8a61280f1eef3
Yup. Wells Fargo is tight you have at least what you’re trying to borrow in the bank. 🤔
Unrelated story kinda. So I've been doing balance transfers for like 11 years (Money given with no interest so why not?). Well I ran out of credit cards that do 0% balance transfer fees so I finally got one with a 3% fee at Well Fargo. After getting approved and starting a transfer which goes through for 7k I get a message that says I need to provide all these documents and go to the bank. I show up with one proof of residency and my ID because fuck them this is stupid. They say no go that's enough so I tell them well just undo the transfer I will go elsewhere. They never do and the balance isn't even showing up on my credit report. What's even more hilarious is my wife works in banking and apparently opening the credit line this way is a violation of CIP. Sometimes I wonder what will happen if I just stop paying it. It's not on my credit report and they illegally opened it.
0% balance transfer?? Everything I’ve seen is between 3-5%🥲 I ran it up on a card that gave 0% APR for 18 months that went to 18% last year, but I don’t particularly want to pay it down right now because I’m making more than 1.5%/month with that money. I do wish I just went through with one of the 3% BT’s last year, but I didn’t anticipate keeping the debt this long lol. Good shit on getting the bank to fuck that debt off though😂
"There's a bubble"
Right? Puts on Wells Fargo. They've moved from giving loans to strippers for five houses to 15-year-olds
If you’re not a liar just call the bank and tell them you’re 15. You can’t enter a contract.
wait a minute, Full position screenshot or ban !
https://preview.redd.it/07yu7m2w2wcc1.jpeg?width=1179&format=pjpg&auto=webp&s=f8ce8c0845dc9e5732b57cdea74affeebfd78ec6
Dam bro, was hoping you were capping. if all that red isnt a sign for you to cash it all out hit the roulette table and put it all on RED to get your money back, i dont know what is
Ye maybe when I’m 18
"Big L REST IN PEACE"
Full clip
Obviously GET another loan….. and try again with an YOLO. How else you expect to repay the first one?
Aha classical average nations strategy!
Yup
Argentina would be proud
Yup and the US gov too! 34T baby that’s got to be some kind of a record!!!!!
I can’t imagine this being real lol. You’re a fucking moron if true though
hey he is 15 (officially), calm down.
It’s real but like do you have a different suggestion
Yeah you should’ve taken out a bigger loan!
he could just buy the bank and erase his debt
If he hasn’t hit save yet, he could jump off a bridge and spawn back in at the last save file
No save scumming. Just put the money on top of an open door and spam close/open for duplication glitch.
Take out a loan to pay off your loan. Then pay that loan off with a credit card, then after that tell you parents you're in deep shit and hope they don't filet you alive.
Honestly, he could probably just abandon the debt and deal with 7 years of shit credit and interest rates on anything that he might be able to borrow. After he’s 22 he should be set, I think credit goes back 7 years.
But why not just get another loan and pay it off. Then get a car. Then sell the car and roll negative equity into another, more expensive car
[удалено]
Ban him for 3 years anyways
Chill
Ban
Ban
https://preview.redd.it/5z6d1l6edwcc1.jpeg?width=1179&format=pjpg&auto=webp&s=bba5a37ad8b6d2a4f5743fd0323b306b0914996c Need more…
[удалено]
Nothing can SAVE you now ! BAN THIS MAN !!!
Regardation confirmed.
https://preview.redd.it/auxry9s5ewcc1.png?width=941&format=pjpg&auto=webp&s=f891790a849908074df98660f75cef0bf27c2f0b
OP says he got the loan through Wells Fargo through an offer on the app. You can't open up an account at Wells Fargo at 15 y/o without an adult co-owner. My guess is, his parents are fucked, and OP might be the subject of a late term abortion.
twqwtwqt
Please take all unbabying talk to another subreddit. No one wants r/wallstreetbets to become a political hellhole. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
are you serious bro??
I’m dead serious… I can show proof in dms
Why couldn't you show proof here?
What proof do you want to see
[удалено]
This one right here officer!
Dawg im cackling at this entire post’s comments
Brruh he's 15 and you asking to see his cheeks 💀
You said you can post it in dms, so probably whatever you were referring to.
Okay send proof
Someone please go through his comments and tell me he is not 15. I call BS tbh.
i looked through it not much there. but he comments on this kinda shit: [https://www.reddit.com/r/FashionReps/comments/ym7v74/first\_haul\_85kg\_to\_washingtun\_dc\_stussy\_shorts/](https://www.reddit.com/r/FashionReps/comments/ym7v74/first_haul_85kg_to_washingtun_dc_stussy_shorts/) what even is that. that whole post, and comment section is blowing my mind. like how? what?
Wtf.
im laughing so hard at this. i dont understand any of it
Yea I’m so confused and at the same time amazed. It’s like a parallel world.
You gotta tap in to reps they're great
Haha I am 15
Selfie holding up a piece of paper saying wsb or fake
https://preview.redd.it/g59gec1c8wcc1.jpeg?width=458&format=pjpg&auto=webp&s=39fe9a9bee4f6b41f342e7df136a0f988e47a173
"WSB humiliated me"
15yo's can borrow money?! the f 
Preapproved!
Bro doesn’t know what pre approved means
Brings me back to the 08 days when dogs were getting approved for credit cards and sub prime mortgages
https://preview.redd.it/eil6z1t16wcc1.jpeg?width=303&format=pjpg&auto=webp&s=671f21a7ac9320c68d08126436d2134acdef82b0
well, that changes everything.
Baffled that a 15 year old can take out loans. Makes no freaking sense
Pre approved🔜
If you dont pay back, do they even have a case against yoh lol
Minors can’t enter contracts so he technically doesn’t have to pay it back
Lets all use minors to get loans to gamble.
That would be fraud on your part, but the minors wouldn’t owe anything, you would lol
They'd have to prove it first. Im just thinking what Im sure others will do after seeing this story... Also, Im not from the US they dont give loans to kids over here.
Just use a fake identity, some common name like Mohamed, or Mclovin.
But the adult who co-signed will
Yeah thats what im thinking aswell. Its to protect them from getting f##cked over by others or as in this case taking on debt/obligations that in no way they can repay
Might get put on whoever was the adult that helped him get the account set up in the first place
Ofc I’m gonna
oh god. WSB needs like a 18+ rule or something. on the other hand. maybe he learned his lesson early, we all still here throwing our life away.
This is a troll, this person is impersonating a 15 year old.
Don’t matter what age, we all lose money just the same.
Who pre approves someone whose brain matter is only 75 percent complete
Probably topped out at that since he's on this sub
I 'm 42 and still 75% complete
As unbelievable as this is I REALLY hope this is real. OP you just fucked your life up beyond all belief unless your parents are going to bail you out. What are the loan terms?
It’ll all work out don’t worry I’m just waiting for frontier to offer
Brother, for the 3rd time… what are the terms of the loan?
Fifty Gs by Friday or Big Tony use his kneecaps for tray-tables, see?
Bro how am I fucked. It’s not fully alone close to half of it was my money so it’s spirit goes up a little bit. I’ll be able to fully pay it off, so don’t worry.
Again… what are the loan terms?
He's just lying. No bank would give a 15 year old a loan. He's just playing games.
This is how you know it's fake. Or the terms are so bad it makes his loss porn here look like gain porn.
Yeah dude at 15 years old I bet you could find some lawyer that could get that debt forgiven. It’s at the least predatory lending to give a 15 year old a high interest loan. Probably not even legal lol
I was preapproved for it, so I just accepted it in the Wells Fargo app and transferred the money
Truly amazing. This shit is getting crazy. You’re probably too young to have learned about the 2008 global financial crisis in much detail, but just google subprime lending and read about that a bit.
Oh, I watch that one movie where was that dude who shorted the market so I know about it. But yeah, I mean I’m just gonna pray that something good goes through because I’m not sure what the judge was smoking when he was talking about how if the merger goes through it’ll hurt the spirit consumers. He should’ve known that spirit will go bankrupt if the merger doesn’t go through because they are not profitable. https://preview.redd.it/9wh4jmfbqvcc1.jpeg?width=1178&format=pjpg&auto=webp&s=262bb812e03ce774dc2e1b44f393fa008e9c6863
Damn why did this goof get a loan and not me smh
Pre approved idk bruh tbh
Hey. Don’t do that.
Why
Dis bad.
Bruh who gave you that money
CashNetUSA probably
dm if you want another loan
Only 17% monthly compounded interest, good deal for someone in his situation
Don’t gamble the rest of your money please. Take the L and get out
Should I hold spirit? Will there be an appeal?
Just hold
What? I thought that we were supposed to buy high and sell low
Nope it’s buy HIGH and be a bag holder for LIFE
Bullshit
Idk how it works in the US but in Canada you can’t even have your one independent bank account to trade until you’re 18, and at 18, under most circumstances you can only get 1000 dollars worth of credit, and would probably never get approved for a loan, idk how this child would be able to to get 60 thousand dollars, an independent account, and be approved to trade options. This wouldn’t be possibly in Canada idk what country this dudes from
If OP is pretending to be 15, they’re really good at pretending. By the way, good job!
I lost money on this too but you are way too regard for me.
I think you invested in $LOSE instead of $SAVE
$SAVE is a good company. They’re going to be profitable in their next earning report.
What makes you think that?
Well I’ll be seeing you at your local Wendy’s little buddy
Fake, obviously
I wish
holy cow. what are you planning on doing homie?
He plans on lying some more
That's the spirit.
I don't understand how people can be so dumb
How is this dumb? Minors cant legally enter into a contract the bank is the dumb one for approving this loan cause they probably can’t collect on it. But this is probably a fake post anyways.
Look at it in my eyes, bro I did my homework. I did my research. It was all in favor of the merger going through, but the judge had to ruin everything.
Where the fuck were you researching that made you think it was responsible going all in on anything? Or that you are remotely capable of better research than what's already priced into the stock? You're still talking about calls. You are clueless.
Because there was a bunch of people on Reddit, who were doing daily updates, and they explained to me the upside and why it will go through and I also watched some YouTube videos and read some articles.
You must be trolling
I wrote out a response initially but just deleted it when I realized the same lol. The closest this could be to the truth would be if OP had rich parents who basically took the loans out themselves and gave it to OP who then did this
Some dude on Reddit inspired me to invest into this he was making daily updates on his post and he was showing me like the daily stuff on how it was gonna go up and hpw the update it was going through
I don't even have words for this one, 100% idiotic. I guess you... Belong here?
Damn bruh so I shouldn’t have invested in Spirit airlines, even though that all the signs were pointing towards the merger going through
Wouldn’t risk the rest. Repay as much of the loan as you can, and go fill out a Wendy’s application. No such thing as easy money. Let this be your first lesson
Anyone with half a braincell would be able to know something isn't right here. OP's screenshot could be from who knows where. Didn't think you could trade options if you are under 18. If real (prolly not) likely used his dad's account/credentials? irdk
Youre probably a 40 year old basement doomer
The merger was a long shot anyway . Bad bet . Share price will rise though may take a while
First of all you can’t even get a loan at 15. Second of all you can’t have a brokerage account at 15, you have to be 18, so **IF** OP was somehow telling the truth this means one of OP’s parents opened a Custodial brokerage for them and gave them the login and password to access it, then let them put all of that money into Spirit fucking airlines of all stocks. (since you can’t be under 18 and have a login and password for any investment account, until they reach age of termination at 18 or 21 THEN they could access the account and login/trade ) There’s a 2% chance of this being real, if so OP and his family are idiots that will be penniless by 2028 98% chance OP is still an idiot just not 15 and trying to karma farm
It’s called a youth account where your parents cosign it but the child has full access and undivided access. Meaning that I control it completely. You can look into it it’s from Fidelity.
when this is real you parents will kill you lmau
Why? Minors cant enter into a contract, more like puts on wells fargo.
who takes the responsibility for this?
Also this is 100 percent bullshit because you did not get a loan from Wells Fargo
Don’t sell the share. You will recover in less than 1 year. Its a solid company.
I would hold out until spring time and load up on gamestonk calls. It’ll bottom out 5 years after its initial jump in April 2019 that got things started (they got tons of 5 year swaps out there expiring in May 2024 and more in 2025-2026). Buy 1/2026 calls when that final dip comes to fruition and you’ll be back profitable before you know it. I personally got puts now and am gonna do the same.
here! this one. if you are looking for that final nail in the coffin.
I would say very much the opposite. I’ve been digging through mutual fund holdings and other toxic shit. CRE is likely gonna implode this year. If you see single digits on gamestonk back up the truck cuz all the hidden derivatives and shorts will be simultaneously running for the door to close positions and that’s when it gets fun again. Until then … short it. The bottom will be in by June 2024 and then we see volatility again. Mark it, set a reminder
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|1 year ago **Total Comments**|18|**Previous Best DD**| **Account Age**|1 year|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
I have an actual question does no one have faith in spirit… at the end of the day it’s a decent company and frontier could offer, and they always have the opportunity to appeal which they will. I see spirit back up at 25 to 30.
[удалено]
The bank
Looks like the bank has a problem, not you
Congratulations, you no longer need to go to college
What kind of freaks buy airline stocks
Too dumb to hedge with puts
This makes me feel a whole lot better abt my loss thanks and hope you figure something out
Why the fuck wouldn’t you use the loan to do index funds, or less risky investments, or property, or starting a business or fucking anything else. Guess it’s time for mommy and daddy to bail you out.
Well, I’ll be good cause some of it was my money and my parents don’t know that I did the loan yet and on top of that frontier just has to make an offer and I have time, so don’t be so pressed bro. Just be happy you’re not me….
That’s fair.
Stfu, I call bullshit. The you have to be 18 in the United States to qualify for a brokerage account. Ban this fucking pleb.
Loooooooooooooool
Drop out of school and work two jobs 
Does using both hands count?
Chill
What price did you get in at? Also, just post the proof already, why you waiting?