My debts, apoligies, and some words of wisdom

Good for you Neverwin. Post is a start, but now you actually have to follow through. OBV, hope you pay everyone back, clean up your image.

PS - I've been around since 04, never been noosed. Can someone noose me? I'm trying hard. ty.

Actually, it was a good post and I suggest everyone reads it -- especially if you're even mildly interested in Dustin and his debt situation.

Regarding O: If you're serious about paying him, I can be a go-between to speed up the process. I am in LA now but will be returning to Vegas in 2 days. If you want (and I think it would probably mean a lot to O), you can arrange to bring me the money, and I'll give it to O once I get to Vegas. I am offering to do this only because I like seeing debts get paid, even if they're not mine. PM me if interested.

Regarding your debts to everyone else: I'm glad to see that you intend to pay them all. However, the so-called "1 or 2 exceptions" shouldn't exist. I assume that one of these exceptions is Mark Newhouse. I know you're pissed at him for the blog he posted about you, but you also can't completely blame him. He was dicked around for months regarding repayment, and he finally got tired of it. Even if you were legitimately about to pay him at that point, there was no way he could tell the difference between a legitimate plan to pay and more empty promises. All in all, Mark Newhouse is a good kid. Yes, he was naive, which caused one of the fastest disappearances of a million-plus score in recent poker history. However, he loaned you that money because he trusted you. He loaned to others because he trusted them. In so many of these situations, he got screwed. If you really look at the whole situation, there is no rational argument as to why he shouldn't be repaid. In fact, he could use the money now more than ever.

There's also the matter of how fast debts should be repaid. For some reason, there exists a strange "all or nothing" fallacy in the poker world regarding loans. That is, poker debts are rarely repaid in pieces. You either get everything owed to you, or you get nothing. Getting anything in between is quite difficult. This is because most poker players don't have other sources of income, so they basically need money to make money. When a guy owes $600k and hits a $100k tournament score, conventional wisdom says he should pay off 1/6 of his debt. But usually that doesn't happen. Instead, he sees that $100k as a gateway to make the other $500k. In poker, like most forms of business, it takes money to make money. I understand that, but there also has to be a middle ground.

You should designate a certain portion of your winnings to debt repayment. Let's go back to the previous example: You have $100k, and owe $600k. If you win $50k over the next few days, you should immediately take $25k of that and use it to pay debts. This way, your bankroll continues to rise, while your debts continue to fall. It also gives your debtors confidence that you are serious about paying them back. It doesn't matter if you can't pay back someone's debt entirely. They'll be happy to receive ANYTHING from you -- even 5-10% of what you owe.

Really good post Neverwin, I have been through the same exact shit in my life, and can relate on a smaller scale moneywise to every single thing youre going through.

Obv, this is WeissMAN...



Everyone should read this post.

My favorite part.

GL with everything. (and btw paying Newhouse is imperative)

HOW MUCH DOES HE OWE NEWHOUSE?

o/u 100K?

Druff u must have misinterpreted me or didnt read my whole post carefully. I have been doing exactly what you said all along. I have been making 5-10k payments to everyone I owe whenever I had a nice run. The one or two exceptions I was referring to, were people that I had not made a smaller payment too, just about everyone has received at some sort of payment at some point. None of the post was in regards to Newhouse. Newhouse was my biggest debt ever which was about 170k, in which i paid back 100k of it of the course of last year. When I said everyone will be paid back Newhouse is included in that statement regardless of what he has done to me. I dont want to talk actual figures on total debt but nobody realized that I was paying back debts as I was winning while trying to maintain a bankroll and pay bills. Percentage wise from the beginning of Jan 07 which was the largest figure I had, I only owe about 15 percent of that number now. So I have paid back about 85 percent of my debt since Jan 07, which is why I said it should be in the very near future where the last payments will be made and this will finally be over. The thing was I had about 20 different people at one point that had sent me 10k or so, and many of them hit hard times at different points during the year so I tried my best to pay them back first even though some of the debts were older. The older debts last few that I have and are to people who are very well off right now again maybe with 1 or 2 exceptions. I know that doesnt make it right to pay them back last, but I was just pressured more by the people in need. It was tough making those decisions and balance everything out accordingly. I'll be back on here when everything is complete.

neverwin

Another broke NWP founder. I'm sensing a theme here.

When are you going to play Vanessa, have you talked to her about the details?

judging by that post he owes NH $70k now, plus some others
so lets say ball park 100k minimum and his debt is now at 15% of what it was.....
so we're talking 500k+ at one point?

I don't know why he would post this. Are we all supposed to respect him for this? It's fucking hilarious. He's willing to pay it because he finally made some money. What happens if he wouldn't have? My guess is this topic would have never been posted. This site will never "blow up" as long as this shit keeps going on. GG NWP.

you're right about him, but dead wrong about the site, it's founded on shit like this