if you're not charged criminally for conspiracy to defraud, fraud, theft, etc...
you probably have a problem for 20-25 years.
figure a couple of years of them screwing around, another year or two for them to sue you... get a judgment good for 10 years... then they renew it for another 10.
ArbolLoco said: if you're not charged criminally for conspiracy to defraud, fraud, theft, etc...
you probably have a problem for 20-25 years.
figure a couple of years of them screwing around, another year or two for them to sue you... get a judgment good for 10 years... then they renew it for another 10.
bankruptcy isn't quite the option it used to be either
Hindustani please dont waste your time with post like that.
How could they go after you criminally? it is just credit card debt!
How is this any different from all the Bozos getting ARM mort. and not being able to pay them back. They are irresponsible and should be prosecuted for being morons. That will never happen though.
The new plan? move to a state with the lowest Statute of Lim. then roll out.
So like 5 years and then the money would be legally mine w/o pentaly?
Flame Flame FLame w/e...
It was just a thought. I am talking about 500k! some people have done AOR with this amount. I guess they should be prosecuted if they mess up?!?
How could they go after you criminally? it is just credit card debt!
It's also fraud.
How is this any different from all the Bozos getting ARM mort. and not being able to pay them back. They are irresponsible and should be prosecuted for being morons. That will never happen though.
Being unable to pay and having the bank take your home and planning to defraud the bank of money and leave the country are very different things.
It was just a thought. I am talking about 500k!
500k is a tiny amount of money in exchange for 10-20 years of your life. Get a good education and have common sense and you'll make much more than that in that time frame.
laltopi
Member
posted: Nov. 26, 2007 @ 10:33p
You would be better off saving $10/month for the next 10 years and enjoy a vacation.
jacobhorne said: It was just a thought. I am talking about 500k! some people have done AOR with this amount. I guess they should be prosecuted if they mess up?!?
Hahahaha...right, that's the same. Perhaps you should review the word intent.
You had a good point in your OP...up until the first ellipsis.
What assets are you going to sell to do this? Anyone with a decent amount of assets would never even consider doing this. And what country are you going to go to that won't extradite but will enable you to have the same fantastic opportunities that you would have in the US? Answer: None.
I am not packing my bags tomorrow. Listen, I will have a house, property, etc. in 10 years... I am not sure about the country yet I am sure their are tons of countries that do not extradite.
Lots of people value the opportunity to live and work in the US a LOT. So giving it up for some CC debt is likely not worth it. And if you get to build your credit to the point where you can run up a sizeable debt, why lose all that income-generating credit? Look @ DjPills recent AOR - got over 800k 0% money earning 5%+ interest... that's 40k before tax in a year.
When you borrow, please intend to give back
jacobhorne said: Funny guys and gals...
What about this plan:
I sell all assets and never come back to the US. I permanently live in another country that does not extradite.
Seriously though, how, exactly, does this differ in any way from committing some other random criminal act that involves you receiving a bunch of money and then leaving the country? Comparing this to an AOR is farcical, at best.
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.
ArbolLoco
Tired Member
posted: Nov. 26, 2007 @ 10:59p
jacobhorne said: RichFish: I am just entertaining an idea!
I am not packing my bags tomorrow. Listen, I will have a house, property, etc. in 10 years... I am not sure about the country yet I am sure their are tons of countries that do not extradite.
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.
Yeah you are probably right... I did see on cnn money or something that the philippines will give you the most bang for your buck for retirees (it was a top destination).
I was unaware of the legal implications...I still do not think they(CC companies) would pursue you very hard. just my opinion. But obviously I am the only person in the US who has ever thought about this...Lol
Ok since I do not post like 1MB on FW everyday...what is a troll?
Abloco u clown.
Yeah I like gambling... maybe that would be a better idea.
codename47
Senior Member - 3K
posted: Nov. 26, 2007 @ 11:11p
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.
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.
good info. I have no credit right now so....I have always wondered what they could do and with all the criminals out there, I cannot believe someone has not done this or tried or w/e... Have not seen it on masterminds so I guess it is a bad idea..lol
500k? OP is dreaming. A bulk of the AOR majority seems to be in the 100-300k and that's for high income earner with high credit score.
OP will be lucky to have a card with a $10k limit in 5 years. 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.
jacobhorne said: good info. I have no credit right now so....I have always wondered what they could do and with all the criminals out there, I cannot believe someone has not done this or tried or w/e... Have not seen it on masterminds so I guess it is a bad idea..lol
Most crims don't have the attentions span to work a project for 10 years while holding steady work with a taxable income that would allow your plan to work. After the 10 years is up, and you have an 800 FICO with a good steady income, you just might find you'd rather stay right there.
asdf9876
Happy Member
posted: Nov. 26, 2007 @ 11:35p
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.
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?!?!
--- nothing wrong with going through hypotheticals
--- but some folks call it troll-speak when you add hot button words to get people going
like --- just 22 (to some this means - young and stupid) or --- going off to the Phillipines or Mexico (to some this means hotties that are near free) or --- run up multiple cards (irresponsible use of AOR)
--- when start a troll-type discussion --- you get troll-type responses
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.
jacobhorne said: 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.
actually if you enjoy thinking about these schemes ... you might want to join law enforcement ... you got to think like a criminal to catch one
codename47
Senior Member - 3K
posted: Nov. 27, 2007 @ 12:12a
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.
One must carefully consider expected benefits and expected costs of any decision, including the opportunity costs. One of them would be inability to be eligible for a range of employment opportunities with prior criminal convictions or trashed credit.
As far as your example goes, how about skipping serving time in jail and doing straight to the running own security business? Wouldn't that work better?
jacobhorne said: 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.
sushiosushi
Senior Member - 2K
posted: Nov. 27, 2007 @ 12:20a
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.
RS4Rings
Back in Rehab
posted: Nov. 27, 2007 @ 8:21a
Why is this thread allowed to stay? It's embarrassment to FWF. Nothing but a plan to commit a crime and would hope mods would remove
Skipping 31 Messages...
mhesidence
Dismembered Member
posted: Nov. 27, 2007 @ 9:42p
jacobhorne said: Wow...you all are amazing. So intelligent.
and for you to waste time looking on eBay...no comment on that one. ha.
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