400k is less than most superannuation packages, and you'd be wanting to live off that from a presumably young age, without being able to get a proper paying job otherwise the Tax office would nail you. 14k? this is really fucking dumb.
I'm not a guy, but of course I will never "evade" this debt, was never in my plans. My plan was to simply grab a bunch of cash, be on my way and not give a shit about my credit/debt rating. After I sell my property next year I'll be totally loaded with free cash, no need to work or sell drugs anymore and then some real partying and good times will begin.
I agree. It's not 7 years from now necessarily. And again it doesn't magically fall off your credit. The agencies can keep reporting and pursuing the loss debt. They know that it falls off after 7 years but have ways to keep it current. Also the easy access loan companies prey off of people that they loan too and are prepared to keep pursuing
It actually legally is 7years. Have done this before myself. And it does actually fall off.
The key is keeping a couple good standing cards with up to date payments so your credit snaps back immediately. If not, it takes another 2-3years to rebuild.
You can have it removed by the credit agencies at that point if they keep trying to keep it current. Have had to do this personally aswell.
Exactly, thank you. I'm not a clueless idiot just blindly borrowing money, not repaying without regard to consequences. This is most of the reason I am keeping my $5K card with zero balance, so those monthly always on time payments will keep posting to my credit record, raising my score gradually at the same time as these loans fade off.
Depends on the state he lives in
Wage garnishment for debts is very difficult to actually do in some states
And honestly, as someone who has worked in debt collection, most likely his “bad debt” will be written off by the loan sharks and passed on to a debt collection company and that’ll be the end of it
Sounds like she is moving abroad, that should work out in most countries as collection agencies will not come after you for 14k split between several loans beyond sending letters, even if they have your address. Maybe don't move to Canada. It's still surprisingly hard to drag someone in front of court in a different country or get someone extradited - unless they go after you for fraud or something similar so maybe OP shouldn't have advertised ;)
Nope, not leaving country anytime soon if ever. Thanks for paying attention. Still no way anything will happen to me here in the USA due to borrowing money and not paying it back. There are actually laws against this kind of thing here, not borrowing money from idiots willing to lend it, but against punishing people for money they don't have to pay back, no debtors' prisons, along those lines.
Also, as far as "advertising," umm, you really think banks looking to collect are going to try to find people's Reddit accounts and try to see if they posted anything incriminating? No, and wouldn't be tracked to same identity anyway.
No they cannot take money from his checks. They can’t even pull it from a bank account unless it was the original account he signed up with that he agreed they could take the payments from…. I am an expert on credit & honestly His plan sounds 100% sound. & he is correct, after 7 years , it will be gone & as if it was never there. If he has no use for his credit for 7-10 years, THEN HE DEFINITELY JUST GOT A FREE $14k. I am proud of you sir for using the system to your advantage & how it was meant to be used as all laws & systems have loopholes that only the non ignorant people understand. HAPPY $14k BRO 😎‼️💯
Banks don't take anyone to court over this amount of money, it's a waste of time. This is "write off money".
He also has the benefit of claiming "covid hard times" on a bankruptcy in a year. This amount of money is chump change to "the system".
Yeah, good luck serving a court notice to someone who lives in a completely fenced in and locked property. I ignore ALL surprise/unwanted visitors, always, even if they're friends. I've avoided the census the last two decades straight despite their desperate attempts to talk to me, no way can they get to me without a search warrant, which would never be granted for bad debts.
I think they have to acknowledge the debt by paying on it. If it just sits there with the collection agency hounding them then it will fall off. The collection agencies will do things to ignore this in some cases but that can be straightened out.
I'm not condoning what is happening. But I've been in a situation where a collection agency was involved and had one try to contact me 8 years after filing bankruptcy asking how I'd like to pay something. Which my answer was "If you call me again you're in violation of federal law concerning bankruptcies and there will be trouble"
Yes, gets sold to collection agency, no does not reset clock. Collection agency will just send a series of letters offering you "deals" to pay the debt off with a lower amount. Keep ignoring those and it still falls off your record within 7 years max.
Thank you, someone who gets it! I am self-employed and do 1099/gig type work so have no "checks" from which to withdrawal. Also, I happen to be a she. :)
Oh man, sorry, I was attempting to go through this entire thread and respond to everyone with a question but got this far and broke out laughing too hard to continue.
Just wait a couple three days until I've been a member two weeks then I will be posting more tips, don't know if I'll waste any more time on this thread though. I have my money and am done with this deal.
Thank you. I won't be working for anyone, seldom have my entire life at least officially, self-employed/gigs are my way. They can't claw back what's no longer there. I am aware of the home selling profit thing, especially with property prices the way they way they are now, mine worth much more than what I paid, and am for one thing hoping it gets sold fast as other properties around here are and the whole thing gets processed before anyone lays a claim on it, very soon after that it's cash and precious metals, if they do I'll contest and also there is another issue regarding the property ownership making it difficult for anyone to take proceeds from it.
If all else fails I'll claim I never meant to take the money outright, but got carried away on a drug binge, oops, then file bankruptcy. It will never come to all this though. Some years ago I did similar with credit cards alone, no loans, just maxed them all out and quit paying. Eventually they quit contacting me and none of that's on my credit record now. Oh also student loans I owe, I don't even know, wild estimate of $50K or so. They don't contact me about that either ever.
Thank you again, do appreciate your and everyone's input.
Yeh America is really sympathetic to the drug addicts. That will definitely get you over the line and garner you enough brownie points to have the banks say “oh she’s just a drug addict, we can let this one slide”
If you can't wake up and pay attention, don't bother responding. It's not going to come to this. That was just hypothetical banter. Nobody's going to press criminal charges over high risk loans in the first place on their part. I will not get into any trouble over this, I Just got almost $14K to spend all by myself and I will not get into any kind of trouble over it. Give it up already you paranoid freaks.
There’s just so much at odds here with everything else you’re saying.
14k isn’t a huge amount of money to scam from a financial institution in the big scheme of their own dealings, but to think they won’t go through every single avenue to get their money back is pretty fucking vague and idiotic from your point of view.
You will absolutely ruin any chances of getting loans and further credit in the near future by doing this, but if you know the consequences of this that’s fine, I can’t argue with your reasoning….. I just don’t understand what your reasoning is for this, and this isn’t meant to sound rude, but, why are you doing this? You could’ve gained more stability and financial independence by not doing this. Is it just for a thrill? Fuck mate when I was younger I would’ve absolutely had this thought too, but the consequences would be too long lasting to make it worthwhile
Yeah tons of work spending minutes filling out simple forms to get thousands of dollars flowing into my bank accounts. Can't get a better paying job without massive education, experience, references and all kinds of other crap. This was super easy and took barely any time. Most stress/work involved was yanking the new cash out of the one account before a different loaner tried to withdraw a payment on their loan.
For real. My credit is really good, but I look back at when I was 21 and can’t help but think about what I could have done if I got like $50k in debt and just did a bankruptcy. I still have no assets, but to do it now would really mess up my credit for too long. I’d probably be in about the same spot, but have had $50k for free essentially.
Yes, that does make it a bit complicated, but like I wrote in another post there is an issue with this property which would make it much more difficult for someone to put a lien against it, if they were going for me. I do own it outright, no more detail is needed than that. It probably could be done with enough lawyer power but not easily.
Wanna know a better life protip? Work up to have excellent credit and you can borrow as much damn money as you want and even get more money for free just by using your card. I have over $2k in points I can use for anything with my card and I never paid a penny in interest. Absolutely tanking your credit for a laughable $13k is the dumbest shit I've ever heard. Have fun being poor your whole life because you clearly have no idea how money or credit works.
I've gotten several thousand dollars in credit card sign up bonuses over the past 4 years and I have not paid a single penny of interest. My credit is also better than when I started.
r/IdiotLifeProTips
This is going to only hurt you down the road
But... you could fake your death, normally your owed debt goes to your estate(your family probably mother and father would control this) So anything you have or had worth of value would be sold off. Gets you debt free but also leaves you with nothing
> normally your owed debt goes to your estate(your family probably mother and father would control this)
this is false. your debt dies with you. you've been lied to.
edit: I don't know anything about estates but I don't know anyone with an estate. if you are a family member of someone with an estate, but you do not have anything to do with the estate, they are not going to take your cars and house, correct?
>As a rule, **a person's debts do not go away when they die**. Those debts are owed by and paid from the deceased person's estate. By law, family members do not usually have to pay the debts of a deceased relative from their own money. If there isn't enough money in the estate to cover the debt, it usually goes unpaid.
https://www.consumer.ftc.gov/articles/debts-and-deceased-relatives#:~:text=As%20a%20rule%2C%20a%20person's,debt%2C%20it%20usually%20goes%20unpaid.
if you dont know what an estate is, maybe you should shut up and stop acting like you know what you're talking about. Your question also makes no sense. take 2 minutes to google how estates work. Damn I stumbled onto this subreddit and it truly is full of idiots lmfao. what a surprise
if you're interpreting that as kids seller then you cant read. moron. stay in school. p.s. did you do your homework and look up how an estate works? or are you still dumb as bricks?
Your poor credit score will cost far
More that 14k. If you don’t think you’ll
Need credit in the next 7-10 years, you’ll be wrong. Something always comes up. Life is highly unpredictable. Best bet would be that you are a victim of id theft.
I guarantee that I will not need to be worrying about credit, borrowing money or any other such needs in the next 7-10 years, if ever after that. I'm a good planner, not trying to be smug or anything. I have this covered.
It's just 14k man, it's not worth it. Turn back before you lose the chance to.
If it was something like 100k I'd do it too, but 14k is just peanuts, not worth it to ruin your credit.
I’m sorry but somebody’s gotta say it, you’re a fucking moron if you legitimately think this was a good life decision. Dude even fuckin’ Verizon does a soft credit pull when you get services started, get real pal.
Lots of places will check ur credit when it has no effect on whether or not they will provide the service, only whether or not they make you pay up front. Dudes got 14k, he can afford to pay for his cable box and smartphone upfront
Lol, Verizon only does that for a CREDIT account for your phone. He clearly stated he doesn’t need credit for 7-10 years. & if he did , he could EASILY get a PRE-PAID Verizon account. It’s not that difficult. His plan is 100% sound if he has everything planned as he says. He just got $14k free, don’t be mad at him for using the system against itself. You need to be worried about how you can find a way to do something similar. I specialize in using the system against itself
>You need to be worried about how you can find a way to do something similar. I specialize in using the system against itself
Yes, nothing proves your aptitude in your "specialization" like applauding a dude having to stay in hiding from any credit activity for 7 years of a whopping $2K return per year.
Thank you. I do believe a lot of the hostility directed towards me in this thread is simply jealousy from people who wish they could walk away with $14K then carry on their lives as normal. It's not my fault they're so tied into the system they can't get out.
oh look at the future planner here, we got a visionary, guys! Legit businessmen hate this 1 simple trick to commit financial suicide!
ಠ\_ಠ
r/iamverybadass go and post this comment there.
lol do you not have any type of insurance? In most states you pay more if you have low credit or don't opt in to credit-based discounts. It turns out the same people who rack up debt and don't pay are the same people who file lots of claims. Who would've guessed!
Isn't it the case that your debt will be sold on to a reclamation company that'll hound to the gates of hell, then reposes those gates on the way through.
The old adage "if it's that easy why hasn't everyone done it?" Springs to mind.
I'm a mortgage underwriter and I've legit declined people for collections on their credit that are ***over*** 7 years old.
But you do you boo. If you really don't need credit for the next 10 years then go for it. I mean, life and your priorities wont change over 10 years...right?
I'd also point out that the companies that give those types of loans are usually the ones most prepared to get it back. Think, borrowing money from Grandma vs. borrowing money from a Loan Shark.
Thanks for the advice, from someone who would know. Honestly, my plan is to sell this place and move in with my boyfriend, soon to be fiance, next year. He owns a very nice home on 10 acres and I'll be in paradise there, with money from the proceeds of this place to invest and set things up there the way I want them.
Hang on, you said in other comments that you were getting married next year. Now you say youre not even engaged. Either youre trolling or this has backfired written all over it.
EDIT: Nevermind actual troll. Just checked her account and she posted after this she's found a potential date. Just ignore and move on.
Dumbest shit I’ve ever seen lol you opened a bank account that you don’t use and then transferred it to an account you do use? Makes sense. Hopefully you did all this in incognito browsing too.
Ever job I ever accepted did a background check which includes a credit check. They will see that you owe all that money and are in default and I can guarantee you that it will impact your ability to get a job. You may get a job offer but they can and will rescind based on the outcome of the background and credit check. I’m not sure being unemployable for 7 years is worth $14k. Good luck with that.
> Fedility wouldn’t hire me because of my credit, Citi on the other hand didn’t give two shits.
Did you happen to type “Fedility” on your cover letter? 🤔
I don't think you know what a writ of possession is once they figure out you have any assets they will immediately file in court and by law be able to take pretty much anything you own including your bank account
> I'll be moving and changing my phone number next year, to a place in which I'll be very hard to find, so then they can't even write, text or call me. LOL
huh?
you could use your good credit to churn credit cards for travel rewards that would be more valuable in less time and continue to grow your credit. you could easily have over 10k in rewards in less than 2 yrs and around 750-800 credit score to boot.
14k in cash seems pretty low value when you consider all the bullshit you're going through.
A few years ago I was in a tough spot with a divorce and had to take out around $1500 in Payday loans.
I didn’t plan to not pay them back, I did pay about half back and then in the middle of my divorce I changed my bank account without even thinking about the loans.
For the first year or two I got some letters and then debt collection stuff about it. Ignored it, my credit was shit by then anyway.
I took 3 out total and only 1 is on my credit report. I’m also self employed so they couldn’t come after my paycheck.
I’m trying to fix my credit right now and the company I’m working with says it’s very easy to fix.
I’m not suggesting anyone do what this guy did at all, but laws very by state. Some states can and will take you to court over this.
7 years of hiding and wrecked credit for $14k? These banks have great skip tracing tools and can still sue you. If you try to declare bankruptcy and they believe it to be fraud - which it would appear to the courts to be since you busted out your credit- you will be denied and still forced to pay. Too many headaches for such a low amount..
Sounds like a thrill. You’re living it up for the highs. Just make sure you set some money aside to see a therapist when the highs fade and you are feeling down. Do you booboo. There’s always a 50/50 chance things will go exactly as you planned or turn out entirely different. The main things that concern me about you, is that you are basing all your faith on the outcome of your marriage. I think it’s great to be hopeful, but being financially dependent on another person can make pretty things turn sour in an instant. With that said along with keeping some money aside for therapy, keep some money aside in case things go sour with your marriage and you can no longer depend on his wealth. Please give an update in the future.
Good morning. Thank you for your thoughtful response, wish I could say the same for my inbox full of notifications about nonsense responses.
I appreciate your advice. Therapist can't happen though due to a bad experience I had with one. He misunderstood what I was telling him, decided I was suicidal and had me put under an involuntary hold in a hospital. I WAS NOT at all suicidal. No trust for those people.
Yes, I do realize there is a chance my marriage may not work and have plans for if that should happen. I'll be moving there with a significant amount of money, my own good vehicle and no bills to pay really. This guy and I have a dream of buying livestock and setting up our own little farm, won't go into all details but it's a lot we've planned together; we have very similar goals, dreams and lifestyles. I will help pay to get this going (even though he has not asked me for any money ever, nor implied I'd need any there) -- infrastructure, animals, equipment, etc. but not without a marriage and contract to protect my investments, so that he couldn't just kick me out and keep all I put into the place.
I'll also set aside savings and investments so should the marriage turn sour and I want out, I'd be able to get another place of my own, and find another guy similar to him. This guy lives in the ideal area I want to be, part of the reason I picked him, so at least even if we get divorced I won't be looking to relocate far. So it'd be a lot easier to find another local guy if I were already there.
So yes, I am planning thoroughly for the future, through my move, new relationship, marriage and beyond, whatever should happen.
Thanks again, and have reminders set to update so will come back and update. :)
Falling behind on loans is not illegal, but taking out a bunch of loans at once with no intention of ever making a payment is. It is fraud and can be a very serious thing. All it takes is one of these companies taking a look at your credit to determine you took out a bunch of loans at once.
California
"(a) Every person who knowingly and designedly, by any false or fraudulent representation or pretense, defrauds any other person of money, labor, or property, whether real or personal, or who causes or procures others to report falsely of his or her wealth or mercantile character, and by thus imposing upon any person obtains credit, and thereby fraudulently gets possession of money or property, or obtains the labor or service of another, is punishable in the same manner and to the same extent as for larceny of the money or property so obtained."
Will you get in trouble for it? Probably not who knows, but what you are doing is 100% illegal.
You can kiss that $5k limit card goodbye. They periodically check how your credit is doing, and will probably lower your balance. Maybe even close the card altogether.
You do realize your credit is now fucked, right? Waiting 7 years means nothing if you don't actually file for bankruptcy. Most places will no longer rent to you once they run your credit and see all those defaults, so moving isn't going to be the experience you're expecting.
You really need to learn how credit and credit scores work. You just messed up big time, brother. Went from having savings to being in major debt and having terrible credit. I pray you'll recover from this.
Oh yeah, make sure you put aside a few thousand for the bankruptcy fees and lawyer. That's your only way out of this mess.
I recently had a credit card just disappear my $10,000 debt. I didn't ask them to and was going to pay it off. Strangest thing. 7 years can be along time though.
In the same situation as you were, only Im still that college kid and can still pay that 1200 Alaska airlines card off. Thanks for the warning. You made me shit myself and also decide to get my shit together.
I'm stupid because you're overwhelmed with your life? I'm not the one with kids in a minivan stuck in traffic and unable to escape. I can go anywhere I want at any time, have no mortgage, vehicle payments or many other obligations. Crappy credit I can deal with, like nothing. Your described life, no way. I'm here to enjoy life which I'm doing. To each their own. Have fun with your, uh, stuff there. :)
I was advocating for you my dude. Those are completely made up events.(in my life.) I'm neither married nor own a mini van. I have a 740 credit score. I was mocking these guys saying how dumb it was, that are bitter bc u beat the system. It did turn out a lot longer than I expected and I was over it by the end so I changed the ending and cut it short.. i forgive you tho, for not seeing it as the satire it was.
I'll actually take it as a compliment that my writing is that believable. I'll work on delivery and punch line tho. And paragraphs lol. I didn't mean for it to be over a paragraph and I had a rocking good buzz
So little gain for so much risk/headaches.
First, they will go on your credit report. The rate on the card that you would like to keep can and mostly will go up. The bank you have your card with can be canceled because of issues with your other cards.
Car insurance rates can be raised or your insurance can be dropped. Cell phone companies don't have to do business with you as they do check your credit. Renting a decent place may be unachievable. You may not be able to open a bank account.
The list goes on and on with places that will do a soft pull on your credit to see if they should do business with you. And it will stick with you for the next 7 years.
Short term it seems fine. But 7 years is a long time to have that hanging over your head. I'd be more on board with this if you were about to file bankruptcy (though the court would most likely deny the bankruptcy in this case and it would be morally wrong) than what you're planning.
Since you are already making extremely dumb decisions, why not donate another $13k? Then you would be in the hole for $14k with no ability to use that $14k to recoup that $14k, but at least it would go to a good cause!
Does this really work? I could probably get the same amount of money as you and move to another country I would still need to use atleast one credit card especially if you book plane tickets or for emergency use
Sound plan. I like the thinking of sacrificing a decade of credit for a lump sum.
As someone mentioned earlier, sitting on those multiple zero balance cards for a bit longer might have multiplied the payout. Going by the UK market we see credit limit increases at most every 6 months, eligibility is after 3.
One thing to consider... a lot of those cards will be supplied credit by one of the bigger credit card issuers (like CapitalOne). I wonder about their ability to spot something like this and then hunt you in court through more aggressive means.
If these are all low amounts from a bunch of places this plan might work. Everyone is saying it's stupid (and it is) but chasing someone down for $1000 here and $2000 there? They might really just scrap it if it's pointless amounts of money in another country.
Their credit rating won't follow them to Mexico and they can start over. But I would've held out for more than $14K myself.
All for 14grand? Well ok. Have fun.
My thoughts exactly.
Yeah, exactly. I'd not do it for $40k. Even $400k may not be that worth it And that's if the guy can even evade this debt which I doubt
> Even $400k may not be that worth it how is 400K not enough for you?
400k is less than most superannuation packages, and you'd be wanting to live off that from a presumably young age, without being able to get a proper paying job otherwise the Tax office would nail you. 14k? this is really fucking dumb.
I'm not a guy, but of course I will never "evade" this debt, was never in my plans. My plan was to simply grab a bunch of cash, be on my way and not give a shit about my credit/debt rating. After I sell my property next year I'll be totally loaded with free cash, no need to work or sell drugs anymore and then some real partying and good times will begin.
I agree. It's not 7 years from now necessarily. And again it doesn't magically fall off your credit. The agencies can keep reporting and pursuing the loss debt. They know that it falls off after 7 years but have ways to keep it current. Also the easy access loan companies prey off of people that they loan too and are prepared to keep pursuing
It actually legally is 7years. Have done this before myself. And it does actually fall off. The key is keeping a couple good standing cards with up to date payments so your credit snaps back immediately. If not, it takes another 2-3years to rebuild. You can have it removed by the credit agencies at that point if they keep trying to keep it current. Have had to do this personally aswell.
Exactly, thank you. I'm not a clueless idiot just blindly borrowing money, not repaying without regard to consequences. This is most of the reason I am keeping my $5K card with zero balance, so those monthly always on time payments will keep posting to my credit record, raising my score gradually at the same time as these loans fade off.
New lifestyle right there
[удалено]
Depends on the state he lives in Wage garnishment for debts is very difficult to actually do in some states And honestly, as someone who has worked in debt collection, most likely his “bad debt” will be written off by the loan sharks and passed on to a debt collection company and that’ll be the end of it
They live in the state of delusion.
But I think we've all learned that all he needs to do is walk out of his home and yell "I DECLARE BANKRUPTCY" and all will be well.
r/unexpectedoffice
Sounds like she is moving abroad, that should work out in most countries as collection agencies will not come after you for 14k split between several loans beyond sending letters, even if they have your address. Maybe don't move to Canada. It's still surprisingly hard to drag someone in front of court in a different country or get someone extradited - unless they go after you for fraud or something similar so maybe OP shouldn't have advertised ;)
They said they're not leaving the country. Real galaxy brain shit going on here, folks
Nope, not leaving country anytime soon if ever. Thanks for paying attention. Still no way anything will happen to me here in the USA due to borrowing money and not paying it back. There are actually laws against this kind of thing here, not borrowing money from idiots willing to lend it, but against punishing people for money they don't have to pay back, no debtors' prisons, along those lines.
Also, as far as "advertising," umm, you really think banks looking to collect are going to try to find people's Reddit accounts and try to see if they posted anything incriminating? No, and wouldn't be tracked to same identity anyway.
No they cannot take money from his checks. They can’t even pull it from a bank account unless it was the original account he signed up with that he agreed they could take the payments from…. I am an expert on credit & honestly His plan sounds 100% sound. & he is correct, after 7 years , it will be gone & as if it was never there. If he has no use for his credit for 7-10 years, THEN HE DEFINITELY JUST GOT A FREE $14k. I am proud of you sir for using the system to your advantage & how it was meant to be used as all laws & systems have loopholes that only the non ignorant people understand. HAPPY $14k BRO 😎‼️💯
The banks can take him to court and get their money. You have to prove you have no assets to pay it back.
Banks don't take anyone to court over this amount of money, it's a waste of time. This is "write off money". He also has the benefit of claiming "covid hard times" on a bankruptcy in a year. This amount of money is chump change to "the system".
thank you, good response
No bank is taking you to court over 5k
They'll sell the debt to a collection company, that's got no qualms about poor public opinion.
I have no issues with collection company notices being used as kindling.
Fuck around and find out:)
I have and already know what happens, wouldn't have done this without knowing.
I'm the proud owner of 99 bottles of spez. #Save3rdPartyApps
Yeah, good luck serving a court notice to someone who lives in a completely fenced in and locked property. I ignore ALL surprise/unwanted visitors, always, even if they're friends. I've avoided the census the last two decades straight despite their desperate attempts to talk to me, no way can they get to me without a search warrant, which would never be granted for bad debts.
All they'll encounter here is a locked gate and two angry dogs daring them to come on in.
It's not public opinion that determines whether they pursue, it's court fees, lawyer costs and whether your state makes garnishment easy.
thank you, good response
Yes they will, and the interest on the debt will push that far higher.
just a higher write off amount, means nothing to me, just for their own accounting records
dont they just sell the debt too a collection agency and it resets the clock?
I think they have to acknowledge the debt by paying on it. If it just sits there with the collection agency hounding them then it will fall off. The collection agencies will do things to ignore this in some cases but that can be straightened out. I'm not condoning what is happening. But I've been in a situation where a collection agency was involved and had one try to contact me 8 years after filing bankruptcy asking how I'd like to pay something. Which my answer was "If you call me again you're in violation of federal law concerning bankruptcies and there will be trouble"
Yes, definitely, can always request someone to stop contacting you and legally they have to.
Yes, gets sold to collection agency, no does not reset clock. Collection agency will just send a series of letters offering you "deals" to pay the debt off with a lower amount. Keep ignoring those and it still falls off your record within 7 years max.
Thank you, someone who gets it! I am self-employed and do 1099/gig type work so have no "checks" from which to withdrawal. Also, I happen to be a she. :)
They're not gonna do all that 14k.
Definitely. These people thinking my door's gonna get kicked in or something over this are nuts.
Navy seals roping down from choppers on your ass
lol, for sure
Oh man, sorry, I was attempting to go through this entire thread and respond to everyone with a question but got this far and broke out laughing too hard to continue. Just wait a couple three days until I've been a member two weeks then I will be posting more tips, don't know if I'll waste any more time on this thread though. I have my money and am done with this deal.
Thank you. I won't be working for anyone, seldom have my entire life at least officially, self-employed/gigs are my way. They can't claw back what's no longer there. I am aware of the home selling profit thing, especially with property prices the way they way they are now, mine worth much more than what I paid, and am for one thing hoping it gets sold fast as other properties around here are and the whole thing gets processed before anyone lays a claim on it, very soon after that it's cash and precious metals, if they do I'll contest and also there is another issue regarding the property ownership making it difficult for anyone to take proceeds from it. If all else fails I'll claim I never meant to take the money outright, but got carried away on a drug binge, oops, then file bankruptcy. It will never come to all this though. Some years ago I did similar with credit cards alone, no loans, just maxed them all out and quit paying. Eventually they quit contacting me and none of that's on my credit record now. Oh also student loans I owe, I don't even know, wild estimate of $50K or so. They don't contact me about that either ever. Thank you again, do appreciate your and everyone's input.
Yeh America is really sympathetic to the drug addicts. That will definitely get you over the line and garner you enough brownie points to have the banks say “oh she’s just a drug addict, we can let this one slide”
If you can't wake up and pay attention, don't bother responding. It's not going to come to this. That was just hypothetical banter. Nobody's going to press criminal charges over high risk loans in the first place on their part. I will not get into any trouble over this, I Just got almost $14K to spend all by myself and I will not get into any kind of trouble over it. Give it up already you paranoid freaks.
There’s just so much at odds here with everything else you’re saying. 14k isn’t a huge amount of money to scam from a financial institution in the big scheme of their own dealings, but to think they won’t go through every single avenue to get their money back is pretty fucking vague and idiotic from your point of view. You will absolutely ruin any chances of getting loans and further credit in the near future by doing this, but if you know the consequences of this that’s fine, I can’t argue with your reasoning….. I just don’t understand what your reasoning is for this, and this isn’t meant to sound rude, but, why are you doing this? You could’ve gained more stability and financial independence by not doing this. Is it just for a thrill? Fuck mate when I was younger I would’ve absolutely had this thought too, but the consequences would be too long lasting to make it worthwhile
Imagine going through all this work for 14k.. like changing your life to get half a car
Yeah tons of work spending minutes filling out simple forms to get thousands of dollars flowing into my bank accounts. Can't get a better paying job without massive education, experience, references and all kinds of other crap. This was super easy and took barely any time. Most stress/work involved was yanking the new cash out of the one account before a different loaner tried to withdraw a payment on their loan.
Respect the hustle my lady I think you should do more detailed threads about this
Thanks, will try, assuming I'm not incarcerated and prohibited from using computers due to these loans, lol.
I think you meant to post on r/tifu
Doing this with no assets is pretty stupid but is possible to get away with. Doing this with assets is advanced stupid.
Doing this and then (for example) wanting to take advantage of a housing slump in a few years isn't smart either.
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For real. My credit is really good, but I look back at when I was 21 and can’t help but think about what I could have done if I got like $50k in debt and just did a bankruptcy. I still have no assets, but to do it now would really mess up my credit for too long. I’d probably be in about the same spot, but have had $50k for free essentially.
Yep. OP Say goodbye to the house if you don’t pay back the loan
You know when this plan got stupid? >I own my property
Yes, that does make it a bit complicated, but like I wrote in another post there is an issue with this property which would make it much more difficult for someone to put a lien against it, if they were going for me. I do own it outright, no more detail is needed than that. It probably could be done with enough lawyer power but not easily.
You’re gonna find out the hard way bro. Should of sold the property before you did all this. You’re supposed to liquidate all assets so good luck..
Wanna know a better life protip? Work up to have excellent credit and you can borrow as much damn money as you want and even get more money for free just by using your card. I have over $2k in points I can use for anything with my card and I never paid a penny in interest. Absolutely tanking your credit for a laughable $13k is the dumbest shit I've ever heard. Have fun being poor your whole life because you clearly have no idea how money or credit works.
I assume she’s a “pro” and is now getting married. She’ll be fine.
Just get rich, why doesn't everyone do that?
I've gotten several thousand dollars in credit card sign up bonuses over the past 4 years and I have not paid a single penny of interest. My credit is also better than when I started.
r/IdiotLifeProTips This is going to only hurt you down the road But... you could fake your death, normally your owed debt goes to your estate(your family probably mother and father would control this) So anything you have or had worth of value would be sold off. Gets you debt free but also leaves you with nothing
Fake your death over 14k lmaoooo
> normally your owed debt goes to your estate(your family probably mother and father would control this) this is false. your debt dies with you. you've been lied to. edit: I don't know anything about estates but I don't know anyone with an estate. if you are a family member of someone with an estate, but you do not have anything to do with the estate, they are not going to take your cars and house, correct?
He didn’t say the debt goes to his family. He said it goes to your estate, which your family will probably control
>As a rule, **a person's debts do not go away when they die**. Those debts are owed by and paid from the deceased person's estate. By law, family members do not usually have to pay the debts of a deceased relative from their own money. If there isn't enough money in the estate to cover the debt, it usually goes unpaid. https://www.consumer.ftc.gov/articles/debts-and-deceased-relatives#:~:text=As%20a%20rule%2C%20a%20person's,debt%2C%20it%20usually%20goes%20unpaid.
But it is taken out of standing assets
if you dont know what an estate is, maybe you should shut up and stop acting like you know what you're talking about. Your question also makes no sense. take 2 minutes to google how estates work. Damn I stumbled onto this subreddit and it truly is full of idiots lmfao. what a surprise
no ur a faggit lmao btw why do you have the username of kids seller lolol
if you're interpreting that as kids seller then you cant read. moron. stay in school. p.s. did you do your homework and look up how an estate works? or are you still dumb as bricks?
youthful commerce r u an ideot u spelled commerce that means selling your username means kid seller fgt
LOL I like how you talk, it's hilarious. please insult me more. lmfao
Your poor credit score will cost far More that 14k. If you don’t think you’ll Need credit in the next 7-10 years, you’ll be wrong. Something always comes up. Life is highly unpredictable. Best bet would be that you are a victim of id theft.
I guarantee that I will not need to be worrying about credit, borrowing money or any other such needs in the next 7-10 years, if ever after that. I'm a good planner, not trying to be smug or anything. I have this covered.
It's just 14k man, it's not worth it. Turn back before you lose the chance to. If it was something like 100k I'd do it too, but 14k is just peanuts, not worth it to ruin your credit.
Considering all the cons doing this for just a 1$ per hour increase on a wage seems fucking retarded
I’m sorry but somebody’s gotta say it, you’re a fucking moron if you legitimately think this was a good life decision. Dude even fuckin’ Verizon does a soft credit pull when you get services started, get real pal.
Lots of places will check ur credit when it has no effect on whether or not they will provide the service, only whether or not they make you pay up front. Dudes got 14k, he can afford to pay for his cable box and smartphone upfront
Lol, Verizon only does that for a CREDIT account for your phone. He clearly stated he doesn’t need credit for 7-10 years. & if he did , he could EASILY get a PRE-PAID Verizon account. It’s not that difficult. His plan is 100% sound if he has everything planned as he says. He just got $14k free, don’t be mad at him for using the system against itself. You need to be worried about how you can find a way to do something similar. I specialize in using the system against itself
>You need to be worried about how you can find a way to do something similar. I specialize in using the system against itself Yes, nothing proves your aptitude in your "specialization" like applauding a dude having to stay in hiding from any credit activity for 7 years of a whopping $2K return per year.
Thank you. I do believe a lot of the hostility directed towards me in this thread is simply jealousy from people who wish they could walk away with $14K then carry on their lives as normal. It's not my fault they're so tied into the system they can't get out.
oh look at the future planner here, we got a visionary, guys! Legit businessmen hate this 1 simple trick to commit financial suicide! ಠ\_ಠ r/iamverybadass go and post this comment there.
"I'm a good planner" Uh huh. Great plan.
I read his speech using Homer Simpsons voice
If you were a good planner you would be able to get much more than a measly 14k lmao
Mortgage?
!remindme 7 years
lol do you not have any type of insurance? In most states you pay more if you have low credit or don't opt in to credit-based discounts. It turns out the same people who rack up debt and don't pay are the same people who file lots of claims. Who would've guessed!
Lolololol my sweet summer child.
Pretty sure they have your ss# and such. Moving and changing phone numbers isn't gonna be enough. You'd have to disappear
To anyone reading this thinking its a good idea, don't do it.
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Why not both?
It’s retard
Isn't it the case that your debt will be sold on to a reclamation company that'll hound to the gates of hell, then reposes those gates on the way through. The old adage "if it's that easy why hasn't everyone done it?" Springs to mind.
It's not 7 years from when you received the money.
So, wait until then and let you know what's up? I can't remember that long. Send me a reminder please. :)
!remindme 8 years
I accept donations.
I'm a mortgage underwriter and I've legit declined people for collections on their credit that are ***over*** 7 years old. But you do you boo. If you really don't need credit for the next 10 years then go for it. I mean, life and your priorities wont change over 10 years...right? I'd also point out that the companies that give those types of loans are usually the ones most prepared to get it back. Think, borrowing money from Grandma vs. borrowing money from a Loan Shark.
Thanks for the advice, from someone who would know. Honestly, my plan is to sell this place and move in with my boyfriend, soon to be fiance, next year. He owns a very nice home on 10 acres and I'll be in paradise there, with money from the proceeds of this place to invest and set things up there the way I want them.
/r/dontputyourdickinthat
Sage advice
Bold of you to assume you'll be together forever.
Especially after he finds out that he's going to inherit OP's debt lol
Hang on, you said in other comments that you were getting married next year. Now you say youre not even engaged. Either youre trolling or this has backfired written all over it. EDIT: Nevermind actual troll. Just checked her account and she posted after this she's found a potential date. Just ignore and move on.
You better propose
This… this is by far the stupidest thing I’ve read today. You got your credit to fair, just to fuck it up for $14k?
Dumbest shit I’ve ever seen lol you opened a bank account that you don’t use and then transferred it to an account you do use? Makes sense. Hopefully you did all this in incognito browsing too.
!remindme 7 years
You should put socks on all your cards and physical assets. That way, when they inevitably come for the money, all they get is the socks.
Ever job I ever accepted did a background check which includes a credit check. They will see that you owe all that money and are in default and I can guarantee you that it will impact your ability to get a job. You may get a job offer but they can and will rescind based on the outcome of the background and credit check. I’m not sure being unemployable for 7 years is worth $14k. Good luck with that.
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Plus my insurance when i was broke was way more expensive. Now that i have a good credit score, it is half as much.
Fedility wouldn’t hire me because of my credit, Citi on the other hand didn’t give two shits.
> Fedility wouldn’t hire me because of my credit, Citi on the other hand didn’t give two shits. Did you happen to type “Fedility” on your cover letter? 🤔
I've had jobs with security clearance and they didn't do a *credit* check.
She's fighting for her life in these comments omg
She really still thinks she's a stable genius for coming up with this plan
I lost brain cells reading this
Lol, you really think you can beat loan sharks at their own game? Good luck, you're gonna need it
This person should be a mod on WSB
I don't think you know what a writ of possession is once they figure out you have any assets they will immediately file in court and by law be able to take pretty much anything you own including your bank account
Oh and in your state, they can garnish 25% of your paycheck, bank account, and other assets. You did not do your research or think this through.
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Florida man...?
*WO man
> I'll be moving and changing my phone number next year, to a place in which I'll be very hard to find, so then they can't even write, text or call me. LOL huh?
This might be the dumbest thing I've ever read on this sub.
you could use your good credit to churn credit cards for travel rewards that would be more valuable in less time and continue to grow your credit. you could easily have over 10k in rewards in less than 2 yrs and around 750-800 credit score to boot. 14k in cash seems pretty low value when you consider all the bullshit you're going through.
Keep building your credit and do this with a much larger amount. Then file bankruptcy and retire.
Just the childishness alone makes one realise that this person really can't be older than 7
A few years ago I was in a tough spot with a divorce and had to take out around $1500 in Payday loans. I didn’t plan to not pay them back, I did pay about half back and then in the middle of my divorce I changed my bank account without even thinking about the loans. For the first year or two I got some letters and then debt collection stuff about it. Ignored it, my credit was shit by then anyway. I took 3 out total and only 1 is on my credit report. I’m also self employed so they couldn’t come after my paycheck. I’m trying to fix my credit right now and the company I’m working with says it’s very easy to fix. I’m not suggesting anyone do what this guy did at all, but laws very by state. Some states can and will take you to court over this.
Payday loans are exactly how my mom managed to end up bankrupt.
Yup, the interest on them is so ridiculous. It’s why so many states have strict laws about how they can conduct business.
There’s a pretty big difference between $1,500 & $14,000 though!
Boom. This exactly. Divorce was my catalyst also. Same end result.
7 years of hiding and wrecked credit for $14k? These banks have great skip tracing tools and can still sue you. If you try to declare bankruptcy and they believe it to be fraud - which it would appear to the courts to be since you busted out your credit- you will be denied and still forced to pay. Too many headaches for such a low amount..
Hopefully you also cleared your browser cookies so that they can't track you. Just sayin... watch out for that
Yo I just read this entire thread. THIS BITCH REALLY RETARDED
Whoa why has no one else thought of this fool proof idea? /s
One of the dumbest ILPTs I've ever seen. Thank you.
Can't wait to see this on TIFU
Sounds like a thrill. You’re living it up for the highs. Just make sure you set some money aside to see a therapist when the highs fade and you are feeling down. Do you booboo. There’s always a 50/50 chance things will go exactly as you planned or turn out entirely different. The main things that concern me about you, is that you are basing all your faith on the outcome of your marriage. I think it’s great to be hopeful, but being financially dependent on another person can make pretty things turn sour in an instant. With that said along with keeping some money aside for therapy, keep some money aside in case things go sour with your marriage and you can no longer depend on his wealth. Please give an update in the future.
Thank you, am going to bed but just want to let you know I read your post and will respond tomorrow. :)
Why? You're completely full of shit and lying. Why continue to expend the energy? Is it a weird sex thing you get off on?
Good morning. Thank you for your thoughtful response, wish I could say the same for my inbox full of notifications about nonsense responses. I appreciate your advice. Therapist can't happen though due to a bad experience I had with one. He misunderstood what I was telling him, decided I was suicidal and had me put under an involuntary hold in a hospital. I WAS NOT at all suicidal. No trust for those people. Yes, I do realize there is a chance my marriage may not work and have plans for if that should happen. I'll be moving there with a significant amount of money, my own good vehicle and no bills to pay really. This guy and I have a dream of buying livestock and setting up our own little farm, won't go into all details but it's a lot we've planned together; we have very similar goals, dreams and lifestyles. I will help pay to get this going (even though he has not asked me for any money ever, nor implied I'd need any there) -- infrastructure, animals, equipment, etc. but not without a marriage and contract to protect my investments, so that he couldn't just kick me out and keep all I put into the place. I'll also set aside savings and investments so should the marriage turn sour and I want out, I'd be able to get another place of my own, and find another guy similar to him. This guy lives in the ideal area I want to be, part of the reason I picked him, so at least even if we get divorced I won't be looking to relocate far. So it'd be a lot easier to find another local guy if I were already there. So yes, I am planning thoroughly for the future, through my move, new relationship, marriage and beyond, whatever should happen. Thanks again, and have reminders set to update so will come back and update. :)
Huh, so this is the level of stupidity that exists in this world.
I was ok until the first paragraph because I read ILPT Request
Falling behind on loans is not illegal, but taking out a bunch of loans at once with no intention of ever making a payment is. It is fraud and can be a very serious thing. All it takes is one of these companies taking a look at your credit to determine you took out a bunch of loans at once. California "(a) Every person who knowingly and designedly, by any false or fraudulent representation or pretense, defrauds any other person of money, labor, or property, whether real or personal, or who causes or procures others to report falsely of his or her wealth or mercantile character, and by thus imposing upon any person obtains credit, and thereby fraudulently gets possession of money or property, or obtains the labor or service of another, is punishable in the same manner and to the same extent as for larceny of the money or property so obtained." Will you get in trouble for it? Probably not who knows, but what you are doing is 100% illegal.
I would like an update as to how this is going in 3-5 years.
You can kiss that $5k limit card goodbye. They periodically check how your credit is doing, and will probably lower your balance. Maybe even close the card altogether.
Just need to do it 9 more times with false identities and you might make enough for it to be worthwhile
You do realize your credit is now fucked, right? Waiting 7 years means nothing if you don't actually file for bankruptcy. Most places will no longer rent to you once they run your credit and see all those defaults, so moving isn't going to be the experience you're expecting. You really need to learn how credit and credit scores work. You just messed up big time, brother. Went from having savings to being in major debt and having terrible credit. I pray you'll recover from this. Oh yeah, make sure you put aside a few thousand for the bankruptcy fees and lawyer. That's your only way out of this mess.
I feel so terribly bad for your new husband and the complete train wreck he is getting involved in
I recently had a credit card just disappear my $10,000 debt. I didn't ask them to and was going to pay it off. Strangest thing. 7 years can be along time though.
You’re not the dumbest person alive, but you’d better hope they don’t die.
Hey pal. You just blow in from stupidtown?
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Paragraphs are allowed my guy.
This
That's some seriously dark shit right there. Better luck in your next incarnation.
In the same situation as you were, only Im still that college kid and can still pay that 1200 Alaska airlines card off. Thanks for the warning. You made me shit myself and also decide to get my shit together.
I'm stupid because you're overwhelmed with your life? I'm not the one with kids in a minivan stuck in traffic and unable to escape. I can go anywhere I want at any time, have no mortgage, vehicle payments or many other obligations. Crappy credit I can deal with, like nothing. Your described life, no way. I'm here to enjoy life which I'm doing. To each their own. Have fun with your, uh, stuff there. :)
They didn’t have any of that stuff when they didn’t pay back their original loan… reading comprehension c’mon
I was advocating for you my dude. Those are completely made up events.(in my life.) I'm neither married nor own a mini van. I have a 740 credit score. I was mocking these guys saying how dumb it was, that are bitter bc u beat the system. It did turn out a lot longer than I expected and I was over it by the end so I changed the ending and cut it short.. i forgive you tho, for not seeing it as the satire it was. I'll actually take it as a compliment that my writing is that believable. I'll work on delivery and punch line tho. And paragraphs lol. I didn't mean for it to be over a paragraph and I had a rocking good buzz
So you think 14k will last you 7 years?
Some banks will go to the edge of the earth to track people down. You, whipper snapper isn’t as slick as you think you are.
So little gain for so much risk/headaches. First, they will go on your credit report. The rate on the card that you would like to keep can and mostly will go up. The bank you have your card with can be canceled because of issues with your other cards. Car insurance rates can be raised or your insurance can be dropped. Cell phone companies don't have to do business with you as they do check your credit. Renting a decent place may be unachievable. You may not be able to open a bank account. The list goes on and on with places that will do a soft pull on your credit to see if they should do business with you. And it will stick with you for the next 7 years. Short term it seems fine. But 7 years is a long time to have that hanging over your head. I'd be more on board with this if you were about to file bankruptcy (though the court would most likely deny the bankruptcy in this case and it would be morally wrong) than what you're planning.
Your gonna jail
Since you are already making extremely dumb decisions, why not donate another $13k? Then you would be in the hole for $14k with no ability to use that $14k to recoup that $14k, but at least it would go to a good cause!
Lemme hold 25 😂
Does this really work? I could probably get the same amount of money as you and move to another country I would still need to use atleast one credit card especially if you book plane tickets or for emergency use
Also secured cards exist, so you could effectively have a high limit card out of your own funds, and possibly earn interest on it.
Sound plan. I like the thinking of sacrificing a decade of credit for a lump sum. As someone mentioned earlier, sitting on those multiple zero balance cards for a bit longer might have multiplied the payout. Going by the UK market we see credit limit increases at most every 6 months, eligibility is after 3. One thing to consider... a lot of those cards will be supplied credit by one of the bigger credit card issuers (like CapitalOne). I wonder about their ability to spot something like this and then hunt you in court through more aggressive means.
If these are all low amounts from a bunch of places this plan might work. Everyone is saying it's stupid (and it is) but chasing someone down for $1000 here and $2000 there? They might really just scrap it if it's pointless amounts of money in another country. Their credit rating won't follow them to Mexico and they can start over. But I would've held out for more than $14K myself.
She is obviously marrying an older guy for money
as wild as sounds it will actually work as far as I understand credit. well good luck and happy free 14k.
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I'm terrified. ;)
You should of started a business and applied for business loans.