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I have read stories...

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Light
Freshman Poster
Posts: 100
Joined: May 29th, 2018, 6:29 am

I have read stories...

Post by Light » July 8th, 2018, 6:03 am

Deleted
Last edited by Light on July 26th, 2018, 9:33 pm, edited 1 time in total.

TruthSeeker
Freshman Poster
Posts: 281
Joined: October 10th, 2017, 1:51 pm

Re: I have read stories...

Post by TruthSeeker » July 9th, 2018, 2:11 pm

Light wrote:
July 8th, 2018, 6:03 am
I have read stories about how some US expats, dual-citizens, and green-card holders maxed out all their credit and debt before moving abroad or back to their home country.

Is it worth it for a person to do that? If you think it is worth it, then how much money would you say is the minimum amount of money that would be worth it in exchange for destroying an Excellent 800+ FICO Score?
Isn't that illegal? Isn't that stealing?

Just maxing out credit cards and moving abroad does not absolve you from your debt. Your creditors will come after you and the interest on your debt will accumulate. They will make your family members aware of your debt and the money that you stole will run out sooner or later and you will have to come back home and face reality.

Contrarian Expatriate
Veteran Poster
Posts: 2418
Joined: December 3rd, 2009, 6:57 am

Re: I have read stories...

Post by Contrarian Expatriate » July 9th, 2018, 2:46 pm

It certainly is not illegal, but it is unethical due to those losses being passed on to other consumers to pay. However, the bad credit is wiped away after 7 years.

If you need any type of USA-based credit for anything, you should not do it. That means US housing, a bank loan, a mortgage, etc. would be off-limits to you.

If you already have foreign credit cards, it might be a safer bet.

TruthSeeker
Freshman Poster
Posts: 281
Joined: October 10th, 2017, 1:51 pm

Re: I have read stories...

Post by TruthSeeker » July 9th, 2018, 5:42 pm

Sounds like to me the OP doesn't want to have to work for it. He is in many ways similar to Elliot Rodger.

Light
Freshman Poster
Posts: 100
Joined: May 29th, 2018, 6:29 am

Re: I have read stories...

Post by Light » July 9th, 2018, 5:55 pm

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Last edited by Light on July 26th, 2018, 9:33 pm, edited 1 time in total.

Moretorque
Elite Upper Class Poster
Posts: 4614
Joined: April 28th, 2013, 3:00 pm
Location: USA,FL

Re: I have read stories...

Post by Moretorque » July 9th, 2018, 7:33 pm

If you are going to do it this is the perfect time, the US will more than likely lose it's world reserve status soon on it's currency so it will buy much more now.

Don't kid yourself, the international bankers run this world for the most part and can get you if they want. They control all the worlds legal systems.
Time to Hide!

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