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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: Startled senate 1. Take out personal loan 2. Pay off student loan 3. Claim bankruptcy 4. ??? 5. Profit |
Date: May 2nd, 2013 2:34 PM Author: maize chad (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: Walnut dashing hell party of the first part 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: Startled senate 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: Swashbuckling Aqua Set 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: marvelous dull volcanic crater 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: aphrodisiac chapel water buffalo 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: Pontificating Mental Disorder Digit Ratio 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: orchid learning disabled piazza stock car 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: poppy racy state 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: fluffy selfie 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: Deranged salmon nursing home juggernaut (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: Exhilarant hyperventilating knife 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: lilac razzmatazz hunting ground 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: spectacular harsh gaping 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: Heady half-breed range 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: Plum base telephone (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: lilac razzmatazz hunting ground 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: orchid learning disabled piazza stock car 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: Trip vermilion affirmative action 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: Heady half-breed range 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: Passionate stead french chef 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: cerise provocative school cafeteria black woman yeah this is probably the only possible way this would work
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Date: May 2nd, 2013 5:19 PM Author: Passionate stead french chef 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: cheese-eating faggot firefighter ticket booth 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: Exhilarant hyperventilating knife 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: Milky hospital 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: Passionate stead french chef (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: turquoise lay liquid oxygen 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: Milky hospital 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: turquoise lay liquid oxygen 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: balding idiot 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: Vivacious slippery background story 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: bright dog poop 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 |