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Unemployed friend's method of getting rid of student loans
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Date: May 2nd, 2013 2:34 PM Author: Razzle-dazzle Cream House 1. Take out personal loan 2. Pay off student loan 3. Claim bankruptcy 4. ??? 5. Profit |
Date: May 2nd, 2013 2:34 PM Author: Pearl coiffed really tough guy (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121101) |
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Date: May 2nd, 2013 2:34 PM Author: arousing turdskin He can't get a personal loan unless he has substantial collateral nowadays. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121103) |
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Date: May 2nd, 2013 2:36 PM Author: Razzle-dazzle Cream House That's what I told him, he insists it's possible (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121107) |
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Date: May 2nd, 2013 4:50 PM Author: Aphrodisiac whorehouse brethren replace personal loan with either a cc advance or balance transfer. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121886) |
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Date: May 2nd, 2013 2:35 PM Author: Sapphire swashbuckling useless brakes theatre ruh roh (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121104) |
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Date: May 2nd, 2013 2:37 PM Author: Gold Vigorous Cuckoldry Stage Not a bankruptcy masterman but I'm fairly certain this is fraudulent and explicitly prohibited (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121108) |
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Date: May 2nd, 2013 2:38 PM Author: Talented Carnelian Milk Personal Credit Line You need citations for this pseudoscholarly post. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121112) |
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Date: May 2nd, 2013 8:01 PM Author: stimulating hospital see, e.g., the entire field of fraudulent transfer law (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122910) |
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Date: May 2nd, 2013 8:25 PM Author: disrespectful parlor indirect expression lol (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23123038) |
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Date: May 2nd, 2013 9:59 PM Author: thriller tanning salon cuckold Nope. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23123620) |
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Date: May 2nd, 2013 2:39 PM Author: Magenta curious international law enforcement agency cruise ship (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121118) |
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Date: May 2nd, 2013 2:48 PM Author: razzle henna immigrant This is like using checks from your credit card accounts to pay student loans. Enjoy getting busted for FRAUD. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121164) |
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Date: May 2nd, 2013 4:42 PM Author: Big Sex Offender Twinkling Uncleanness how the fuck would that even be fraud u dumb shit? u are using the CC checks for legit purposes.. and CC's give u checks all the fucking time so fuck them, it's their fault... moar ppl shld do this (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121854) |
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Date: May 2nd, 2013 4:49 PM Author: Indecent internal respiration The fact that almost everyone on this board attends a TTT or is not a lawyer continues to become increasingly obvious. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121883) |
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Date: May 2nd, 2013 4:50 PM Author: coral stage pretty sure he is a lawyer, bro. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121888) |
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Date: May 2nd, 2013 4:50 PM Author: Magical tantric corn cake (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121891) |
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Date: May 2nd, 2013 4:52 PM Author: Big Sex Offender Twinkling Uncleanness lol shit head.. u realize how hard it is to actually prove FRAUD? u cant just accuse someone of fraud and file a complaint.. u need fucing speific details abt their intent, etc
just saying that its fraud to use CC checks to pay off student loans is fucking absurd... hell, do it then wait 6 months to declare bankruptcy and its NBD |
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Date: May 2nd, 2013 8:02 PM Author: stimulating hospital yeah retard, i'm sure they're not going to connect the blatantly obvious purpose behind his actions (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122918) |
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Date: May 3rd, 2013 12:36 PM Author: Emerald filthy persian university lol just LOL @ your failure to understand the presumption of insolvency in fraudulent conveyances (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23126865) |
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Date: May 2nd, 2013 4:44 PM Author: coral stage Ok that would take care of the first 30K or so. And now he has a bankruptcy and still owes a bunch more in student loans. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121866) |
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Date: May 2nd, 2013 4:51 PM Author: Histrionic drab pocket flask national Maybe it would work if he kept on paying the private loans for a few years appearing to be attempting to pay it off and then later on file for bankruptcy. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23121893) |
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Date: May 2nd, 2013 4:53 PM Author: comical bonkers famous landscape painting yeah this is probably the only possible way this would work
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Date: May 2nd, 2013 5:19 PM Author: Histrionic drab pocket flask national It would work best if he could coincide it with getting laid off or a similar event to act as a catalyst.
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Date: May 2nd, 2013 5:05 PM Author: Glittery indigo property LOL, just LOL at everyone who thinks this dude hasn't stumbled upon a foolproof way to get rid of student debt.
He's gonna be a chillin mothafucka on a Caribbean island beach while you're still posting on XO. |
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Date: May 2nd, 2013 5:13 PM Author: razzle henna immigrant Agreed, this dude is set for life. No doubt. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122004) |
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Date: May 2nd, 2013 7:59 PM Author: bright vivacious philosopher-king This has never been discussed before. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122898) |
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Date: May 2nd, 2013 8:00 PM Author: Histrionic drab pocket flask national (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122905) |
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Date: May 2nd, 2013 8:02 PM Author: irradiated police squad plaza and how exactly do you take out 200k worth of personal loans with no collateral and no job again (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122923) |
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Date: May 2nd, 2013 8:23 PM Author: bright vivacious philosopher-king http://en.wikipedia.org/wiki/App-o-rama (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23123031) |
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Date: May 2nd, 2013 9:05 PM Author: irradiated police squad plaza yeah bro just do like 50 credit cards with under 5k each and max out each and then think you won't get preference/fraud pwned (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23123264) |
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Date: May 2nd, 2013 8:03 PM Author: spectacular pervert field Shit man, your friend is pretty smart. Must've graduated from the prestigious cooley law school. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23122930) |
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Date: May 2nd, 2013 9:30 PM Author: ultramarine institution old irish cottage Anyone that think this would work knows ZERO about bankruptcy. (http://www.autoadmit.com/thread.php?thread_id=2245558&forum_id=2#23123441) |
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Date: May 2nd, 2013 10:15 PM Author: dashing meetinghouse tank pretty sure the banks, knowing it was fraudulent transfer to circumvent bankruptcy law, will return the money to the credit cards rejecting payment; with the credit card companies obviously accepting the late payment. then you'll be sanctioned by the federal bankruptcy court, possibly arrested, definitely disbarred, owe attorney fees to both those major creditors for frivolous fraudulent filing. and obviously you'll still owe all your student loans plus interest plus crazy apr and penalty fees to the credit company for the duration of your bankruptcy suit.
notwithstanding, i still think your friend's plan is solid |