I'm not sure about you, but i'd much rather stay here than go to most of those countries. And since the USSR is on there, i'm guessing that info isn't 100% accurate. The only one I would even consider would be the UAE. You can't even speak freely in half of those countries.

You would have to get all that cash out of the country with you......

You'd be better off taking $500k in cash advances, go to Vegas and gamble half of it away (enough to get the casino's attention, so when the time comes they can verify both that you were there and that you lost alot), then declare BK claiming you lost it all while gambling. The BK relieves you of having to repay, it is all gone from your record in 7 years, no need to leave the country, plus intentionally blowing $200k in Vegas is sure to get you some 'perks' along the way.

FYI,
SOL is 3 years in SC, not 10. It is 10 years for judgments. Would the credit cards automatically turn into judgments? Depends on the card issuers and the amounts involved. Some write it off or sell it to collectors. Some sue (discover)

Illegal? Probably walking a line I wouldn't want to flirt with, particularly by posting online. On the face, as long as you were truthful on the applications, you can borrow money with no intent of paying it back. That isn't a crime. Not very nice, but it isn't criminal.

wiki sez

I'd ask what was the intentional deception. I don't think intentionally breaking the card member agreement counts, either. More to the point, who is going to prosecute it? Not the FBI under a 7 figure amount.

One more thing, the statute of limitations is tolled, meaning it stops when you leave the state and almost always when you leave the country. It isn't as easy as just hiding out in another country/state and then coming back.

CrAsian said:germanpope said:OP is talking ten years from now --- if he was talking about next week and could post some pictures ....

ooooh, the pope wants to see a young, naive, possible boy's pics? how scandalous

anyway, you could live like a king in a 3rd world country for about 20k, right?

be careful CrAsian --- stereotypes can be attached to your screen name also

No actually I was just thinking.

codename47 said:FYI,
SOL is 3 years in SC, not 10. It is 10 years for judgments. Would the credit cards automatically turn into judgments? Depends on the card issuers and the amounts involved. Some write it off or sell it to collectors. Some sue (discover)

Illegal? Probably walking a line I wouldn't want to flirt with, particularly by posting online. On the face, as long as you were truthful on the applications, you can borrow money with no intent of paying it back. That isn't a crime. Not very nice, but it isn't criminal.

wiki sez

I'd ask what was the intentional deception. I don't think intentionally breaking the card member agreement counts, either. More to the point, who is going to prosecute it? Not the FBI under a 7 figure amount.

One more thing, the statute of limitations is tolled, meaning it stops when you leave the state and almost always when you leave the country. It isn't as easy as just hiding out in another country/state and then coming back.

OP would be silly to run away with the cash when he can invest it in 20% yielding dividend stocks. How can he lose?!?!

Sorry about that...I just wanted to be honest. This was not a well thought out idea, but I have always wondered about it. I guess i will use better judgment next time and not be a Troll or internet geek speak.

Frank Abagnale (his story became the movie "Catch me if you can")

He only served 5 or so years...now he is a multi-millionaire(by way of his own security business)...go figure.

This is clearly intent to defraud which will include jail time. I don't think it's hard to prove intent in this case if the OP leaves the country for years shortly taking out a loan.
What is this intent to defraud stuff? You've been watching too much law and order. In the United States of America, you are free to take out a loan and free to not pay it back. They are free to sue you or try to recover the money via any legal means.

It isn't theft. It isn't fraud. As long as you didn't lie on the app, there is no crime. It isn't a crime to take out a loan and leave the country. That isn't intent of doing anything and even if it was, so what it isn't a crime. Lots of people travel and lots of people have financial problems for lots of different reasons. No crime, sorry matlock.

I'm not all about ripping people off, but sheesh, stop the insanity.

I hear Poland is the destination of choice NOT the Philippines nor Mexico.

jacobhorne said:No actually I was just thinking.Thinking is too erudite a label for what you are doing. Musing is more like it. Lets just say you run the risk of them suing you (regardless of whether you have fled the country), entering a judgment and renewing that judgment if they follow up with that sort of thing. You'd basically be unable to get credit for 20 years. So, enjoy renting and pray that your "home away from home" is a pleasant place to stay for a decade or more. Then, expect that they will still seek to collect a judgment from you, compounding for 20 years. You'll probably wish to stay in your new third-world adopted country.