What could happen if I dont settle the losses? What will my remisier do to me? About 10k losses.

They may force sell your all holding stocks to cover

They sold all my stocks and currently at a loss. He told me to pay up the losses difference from my margin account. Till now few weeks I still no pay.

What's action will he take on me.

Their lawyer will send you love letters.

declare you bankrupt

no more loans... cant overseas trips... seize your assets to lelong

I'm new to these ... how do you get a -ve balance? You buy with credit?

he mentioned he has a margin account. meaning he has leverage to spend with more money than he put in. Consider carefully, better not use that function at all if you are new.

Leverage amplify profit as well as losses.

What's action will he take on me?

Lawyer notices to pay up...

No pay up...
legal action on your others assets under your name... ie lelong.. what else

will take your car/house etc

double edged sword~!

same treatment as doing loan..
interest will accumulate..for sure being banned for making new loan because of default..

if u realize, they will ask for employer details when register with broker..so, that will maybe contact ur employer and also, next of kin..

This post has been edited by fms21: Mar 31 2021, 10:41 AM

why you so cruel for not paying. Of course the company will take legal action to recover the money. In the meantime the company will deduct from your remisier's deposit lor. So if you don't pay remisier will bear the loss until you pay and not forgetting margin interest is high in stockbroking firms

This post has been edited by rayng18: Apr 1 2021, 01:51 PM

If You do not know the law. Dont comment

I lol at your comment

Bankruptcy will be last resort unless a settlement agreement cannot be reached

Loans and asset sales will be liquidated to pay for your losses with any excess is the question on what they gonna about it

Overseas no differences now because thanks to China Virus is already restricted to many countries with quarantine in place unless ts takes an illegal way of getting out of the country

Contra account be very careful as you can see from how Archegos fallouts with several Japanese who force do to cover the losses and try’s to salvage as much as possible value from the shares

I am really interested to know the motivation of ts to trade in margin...

yes I know... just saying extreme end game... there are degens like these around you know...

I guess it’s one of those t+10 margins. Probably he’s gonna do a “one last trade. This is it”

I’m using margins to trade too. But only for adding into existing winning positions.

Not 100k margin 100k into one single penny stock

TS, how are you coping?

Has the broker contacted you?
Has the remisier or dealer rep contacted you or chasing you?
What are you planning to do?
TBH, 10k losses is not something you can cope with?