Submitted 14 hours ago by Samdell@lemmy.eco.br to greentext@sh.itjust.works
https://cdn.imgchest.com/files/739cx6rnev7.jpeg
Don’t do it OP, traveling and broadening your mind might make you enjoy life and then you’d not be so nonchalant about deleting yourself. You might end up on prison, where you’ll suffer doubly due to your newfound love of life and freedom! Better semi-suffer in an empty existence for the rest of your life like most others.
Or like, just stay on a foreign beach with your embezzled money and a drink in your hand and never come back. Actually seems like the best option overall…
Happened to a buddy of mine, took out a bunch of loans during covid, and stopped paying rent. he didn’t travel but he lived large, pretty much spent it all on prostitutes and what not, then when the money ran out he couldn’t pull the trigger.
With a little help he got instituted for a few days and then got some government funded counselling (not in the states obviously)
He couch surfed for a bit, luckily we have a tight friend group
He landed back on his feet, still on the hook for all of it and the government started garnishing his wages, But he found a good stable girl who takes care of him and he’s happier than I’ve ever seen him, he works, he takes care of himself. I’m proud of him. He’s come a long way.
At that point why not just declare bankruptcy? If he was couch surfing then he had no assets to lose. Sure bankruptcy fucks your credit for a while but it’s better than having nothing and still having your wage garnished. That’s literally the situation that bankruptcy exists for. If you somehow get yourself in a truely irrecoverable amount of debt then it’s your get out of jail relatively free card.
If we all did this capitalism would collapse.
Not problems ending up ON prison, you just jump down the side.
> Open 2 bank accounts
> Get 2 credit cards
> Use 1 cc to pay the bill of the other cc
> repeat until credit score is big and cc limit is thru the roof
> go on spending spree
> 2 months of everything free
> flee to country that won’t deport you as criminal
As someone who games banks as best I can this would absolutely not work.
Credit cards caught on to this around 2010 or so. That’s why balance transfers always have a fee now. You could do this with either balance transfers or cash advances, both of which have fees now. So you’ll end up increasing the balance by 3% each month.
My grandparents did this for decades with 20+ cards. Yes it’s illegal to do this.
Just put your ultra capitalist hat when the time comes to repay them. Tell them its a free market and they took a risk like all for profit ventures, but its not looking good for them and better luck next time. Also nice tits bro, very milk.
Thats how i feel about the idiot debt collectors making themselves liable for my small medical debts :) like, i didnt ask you to pay for that bro but thanks i guess lol
“yea I didn’t pay it, what are you gonna do, not treat me?”
You can do this, but their response will be to tank your credit. Which makes it hard to get any new loans. Including home loans. Also makes it hard to rent a place, since almost all landlords do a credit check. Hard to get a normal auto loan if you need to buy a car. And iirc, your credit card interest rates will go up.
I’ve heard of people getting their credit score up, taking out all their lines of credit, then dipping to Europe for 10 years to start a business. By the time they came back, their credit scores were fine again because it had been long enough to not affect it. Obviously planning to do this ahead of time is illegal, but if it just happens by circumstance and you’re stuck in Europe and can’t pay back the debt for 10 years then like…
Then like…what? You have massive debt and can never return? Or we’re pretending Europe is a different planet and you can just “start new”?
“You’ve heard of people”. No, you haven’t.
nO yOu HaVeNt sorry for not including a link that took me three seconds to google, asshole
www.reddit.com/r/expat/comments/1bwy9qt
Europe doesn’t use the same credit history system as the US; so yes, it quite literally is a different planet in that sense and you quite literally can start new. This is not financial advice.
Surprisingly enough it’s incredibly technically feasible.
The biggest challenge is actually maintaining good standing with the federal government because over the last 20 years or so they’ve been racking on more and more income taxes on foreign income, and if you live abroad as a US citizen you’re still legally required to pay income tax. Then once expats started renouncing their citizenship because of the rapidly increasing cost of maintaining a citizenship they no longer needed the federal government started throwing more and more barriers up to make it harde and more time consuming to renounce your citizenship
Europe is a big place, are we talking flee to the UK or Albania?
Fun fact: the Big Three US American credit unions have a time horizon of seven years. This is set by law. This fucks me, because all my credit accounts are older than that. But the seven year horizon is good for this guy and folks who have declared bankruptcy.
Default judgment wants a word with you
My understanding is you can absolutely end up with a lien and other such things, so it wouldn’t be a good idea unless you’re ready to burn every financial bridge with the US for the foreseeable future. But if you’re not coming back, then that’s that I guess.
I know a guy who skipped on nearly a million in debt. Moved overseas and we didn’t see him for around ten years. Nice guy. I just wouldn’t do business with him. His last check to me was good by the way. He called me and told me to cash it before a certain date and I did.
I like how this image smugly pretends like it’s above it all when lust and time wasting questions are like 2/5 pillars of the human condition.
It can get kind of old seeing stuff on social media that’s just using every easy trick available to fish for engagement though, especially when now a lot of it is probably bots and various propaganda campaigns. Especially if it’s being posted somewhere that people can otherwise have more thoughtful and interesting conversations.
Neuron status: Activated
Yes yes, time. spent on this post definitely for answering a question
My brother in Christ, have you heard of filing bankruptcy?
I… Declare… BANKRUPTCY!!!
Picture related … Or not?
meanwhile I make poor choices and do fuck all and the bank keeps offering me loans and cc limit increases until I begged them to stop twice
My wife has had bad credit for a good chunk of the time we’ve known eachother, and its really incredible seeing what circumstances cause the offer letters to start or stop flowing. Basically the only thing that made the offer letters stop fully was when she got a head injury and couldn’t remember to do any weekly or monthly tasks and defaulted on all 3 of her credit cards. That stopped the letters for a few months until the first couple of cards were paid off in full from collections and then the credit offer letters started flowing again.
Capitalist banks and oligarchs commit fraud like everyone. The difference is that they don’t get held responsible, and force others to suffer instead.
It might work that way in the first life but then when you’re reborn you’re gonna have really poor credit score and that sucks too in its own way.
Oh god. Don’t even joke about this. lol
TBH if you have credit, proof of income, and live in such a land of opportunity that large loans are available then you’re not really in a position worth ending yourself. Just go to therapy.
If you borrow from a shady or illegal lender then they WILL go after your next of kin, so list your guarantor as somebody you hate, lmao.
Costs 2k 11 years ago.
Anyone got today’s rates?
Look up the “buy, borrow, die” strategy (spoiler: it’s only possible for those who are already rich, go figure).
The problem with getting that big loan is you need an income and some money first
I mean, most of the time they don’t really check. At worst you might get a company which wants a paystub or two to verify income but those are just PDF files that can be edited. If you’re already planning on breaking some laws and contracts, nothing to stop you from breaking a few more
Yes this is my current trajectory. Been burning through my savings and am gonna start racking up debt in the next year.
I couldn’t enjoy myself if I knew that was going to be the end.
Average gen Z retirement plan
Millennial, more like.
moseschrute@lemmy.zip 39 minutes ago
> open an llc > take out a business loan under llc > travel the world on a business trip > declare llc bankrupt > repeat