Responsibility

kris71

Does anybody know if i transfer money from my credit card into investment company and company goes bust is it my resposibility to pay back these money or credit card cover the loss?Thanks

POSSETTE

mmm.be prepared for some blunt answers...but yes you will prob have to pay it back...surely its the same as gambling it at bookies and if horse loses do you have to pay it back to CC.

Rolandtheroadie

I like your thinking but as it's a money transfer rather than a purchase of unsatisfactory goods, I'd imagine you are liable.

Robert_Sterling_3

I guess you will be liable.
Basically you took money out of your credit card.
What you do with the money is up to you.
I class it as a cash withdrawal.

cos_2

I agree with previous posters that you are almost certainly liable. I also like possette's warning about getting blunt answers. This site is so often filled with people ready to accuse and condemn. Bizarre for a site that's meant to help and support...

Good luck.

jamalfatty

kris71 wrote: »

Does anybody know if i transfer money from my credit card into investment company and company goes bust is it my resposibility to pay back these money or credit card cover the loss?Thanks

I assume you would have to use some sort of intermediary to get the money invested, unless balance transfers have become a lot more sophisticated since I last done one, in which case the credit card would only maybe cover losses if the intermediary went insolvent before they had placed the money, not after.

Your gambling basically which I guess we all wished we'd be covered for but sadly we arent.

kris71

Thanks for the answers.I do not mean gambling but investment in Forex.Isnt that like buying a investment product which can be related to buying a goods or car for example?Or there are not similarities at all

~Brock~

kris71 wrote: »

Thanks for the answers.I do not mean gambling but investment in Forex.Isnt that like buying a investment product which can be related to buying a goods or car for example?Or there are not similarities at all

Gambling / Investment ........ what's the difference nowadays

kris71

Well at least with investment you can track company performance and make informed decision

Hippyer

kinda like watching a horses form and making an informed decision?

anotherpaul_2

Though perhaps not quite as all-or-nothing as horses (unless they go bankrupt...).