Plausible idea?

Illusionz
Illusionz

Get a giant loan, then sell all your posessions.

Now put all of your money in some crypto currency (dont stop reading).

Then decalre bankrupcy.

The entire thing with cc is that its untraceable, which means that you should be able to keep all of it trough the bankrupcy proccess.

Then move to another country.

You now have everything you started with + the money form the loan.

There is no apparent reason for this not working.

Dreamworx
Dreamworx

won't get a 'giant' loan without nothing that is worth the hassle

Spamalot
Spamalot

@Dreamworx
I have a good credit score and a constant income. I could quite easily get loans worth 5 or 6 times my income currently.

massdebater
massdebater

@Illusionz
Yes but people will ask where did it go

Invent a plausible black hole for money, throw a little away for a papertrail

Deadlyinx
Deadlyinx

@Spamalot
Without any collateral and with no plan of what you're going to use the money for?

doubtful

Carnalpleasure
Carnalpleasure

@Deadlyinx
Sy ill use it for a house.
@massdebater
They still cant do anything, can they?

Emberburn
Emberburn

right, take loans and withdraw various amounts everyday £200-£300 pound for several months whilst paying the loan back (you must pay first few loan repayments as this would be fraud otherwise). Now the cover story is you had an addiction to FOBT in bookies (gambling machines) as this is untraceable and a way to spend large amounts of physical cash. Now convert into gold, crypto, P2P lending, girlfriends bank account, whatever... all keep in cash (but risky having that much cash around),

RavySnake
RavySnake

@Carnalpleasure
what house? You can't just take out a loan and say you're going to buy a house then say whoops the money gone. That would be the most open and shut fraud case in history. Enjoy having all your assets seized and getting 5 years in prison.

FastChef
FastChef

@RavySnake
The point is that they cant sieze crypto. Its encrypted, and not traceable.

Spazyfool
Spazyfool

@FastChef
what about when silkroad was shut down, after arresting Jan Slomp the US goverment seized his bitcoin wallet and sold it for over $3,000,000

Methnerd
Methnerd

@Carnalpleasure
There's probably a name for whatever crimes this is. Iceland or something

CodeBuns
CodeBuns

@Illusionz
Won't work. I make $100k annually, and the most I can get for an unsecured loan is like $20k. That's not enough to make it worth my while.

Supergrass
Supergrass

@Illusionz
(dont stop reading)

Fuck, you made me wake the neighbors.

w8t4u
w8t4u

@CodeBuns
That's weak af try a diff bank at 50k a year I can get like 50k

Crazy_Nice
Crazy_Nice

@Illusionz
(dont stop reading)

Kek this board is such a meme

SomethingNew
SomethingNew

I thought bankruptcy rules meant you could not leave the country without consent.

Harmless_Venom
Harmless_Venom

@SomethingNew
This. If you leave the country without consent after filing for bankruptcy, you probably won't be able to return.

Soft_member
Soft_member

You're a fucking retarded 10 year old.

Illusionz
Illusionz

@Harmless_Venom
What if you didn't want to?

Boy_vs_Girl
Boy_vs_Girl

@Spazyfool
His fault for not securing his keys.

SomethingNew
SomethingNew

Yeah plus if you can't explain to the bankruptcy court where the money went and why all your possessions are gone, they'll kick you out for bad faith. You could leave the country anyway I guess, but the debt won't be gone.

Bidwell
Bidwell

@Illusionz
Speaking of scams I have a question.

I'm a broke ass college student, renting my own place. Someone didn't update their address and i got their Searsmaster card information in the mail, stating their remaining balance with several blank checks. Could i use these checks without getting caught? Could I deposit on in my own checking account?

kizzmybutt
kizzmybutt

@Bidwell

That sounds like a dumbass idea. Once the owner of the account finds out and stops the check, they trace it back to your fraud.

Methnerd
Methnerd

@kizzmybutt
Likely so, but if they didn't bother to update their address, maybe they skipped out on the bills and wouldn't bother to check the balance?

What about using it in a store, there is no way to trace that check back is there?

whereismyname
whereismyname

@Methnerd

I mean, I guess then they would have to rely on witnesses and CCTV, which is better. But here's the problem: either its not worth it because you're going to steal 20 dollars, or you get caught cause you spend 8 grand. I exaggerate, but the point is you have no idea at what amount of money you peek the interest of the store/bank/police and they start looking for you.

TechHater
TechHater

@Harmless_Venom
He won't even be able to leave. He'd be arrested for the extremely obvious fraud.

Raving_Cute
Raving_Cute

@Illusionz

Do you think is that easy OP?

To take a "giant loan you" have to give a guarantee, like you house, car, etc. in case you can't give the loan back.

If there's a mortage in your house for the loan you took, you CAN'T sell it.

WebTool
WebTool

@TechHater
what is fleeing to argentina in a submarine

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