Plausible idea?

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.

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

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

Yes but people will ask where did it go

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

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

doubtful

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

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),

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.

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

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

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.

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?

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.

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?

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.

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

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.

>what is fleeing to argentina in a submarine