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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: ruddy locale 1. Take out personal loan 2. Pay off student loan 3. Claim bankruptcy 4. ??? 5. Profit |
Date: May 2nd, 2013 2:34 PM Author: Dashing Giraffe (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: salmon reading party twinkling uncleanness 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: ruddy locale 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: Cracking blue nowag 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: Stimulating bbw love of her life 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: crimson trust fund double fault 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: diverse hospital old irish cottage 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: Shimmering degenerate friendly grandma 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: glittery duck-like queen of the night associate 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: hideous home international law enforcement agency 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: doobsian messiness shrine (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: khaki bull headed property prole 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: pink cumskin 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: Vigorous pervert meetinghouse 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: bearded school coffee pot 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: bronze blathering church (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: pink cumskin 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: Shimmering degenerate friendly grandma 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: ungodly plaza party of the first part 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: bearded school coffee pot 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: nubile trip menage ratface 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: ivory antidepressant drug crackhouse yeah this is probably the only possible way this would work
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Date: May 2nd, 2013 5:19 PM Author: nubile trip menage ratface 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: mind-boggling pontificating ladyboy 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: khaki bull headed property prole 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: orchid stage 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: nubile trip menage ratface (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: Marvelous nudist personal credit line 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: orchid stage 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: Marvelous nudist personal credit line 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: Puce racy community account 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: Sadistic casino pocket flask 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: Arrogant Volcanic Crater 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 |