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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: Mind-boggling set 1. Take out personal loan 2. Pay off student loan 3. Claim bankruptcy 4. ??? 5. Profit |
Date: May 2nd, 2013 2:34 PM Author: Exhilarant lay corn cake (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: Primrose Vibrant University Coffee Pot 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: Mind-boggling set 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: Zippy Abnormal House Dysfunction 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: Copper Vivacious Dilemma Ceo 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: saffron private investor forum 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: stirring judgmental piazza turdskin 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: Haunting hominid whorehouse 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: Alcoholic Gay Wizard 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: Charcoal kitchen clown 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: arousing grizzly feces garrison (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: Aquamarine haunted graveyard 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: Brilliant slippery tattoo den 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: Confused twinkling uncleanness 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: Smoky Personal Credit Line Trailer Park 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: doobsian heaven (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: Brilliant slippery tattoo den 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: Haunting hominid whorehouse 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: Balding Stead Liquid Oxygen 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: Smoky Personal Credit Line Trailer Park 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: bateful swollen office mexican 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: charismatic theater yeah this is probably the only possible way this would work
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Date: May 2nd, 2013 5:19 PM Author: bateful swollen office mexican 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: galvanic hall becky 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: Aquamarine haunted graveyard 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: umber water buffalo 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: bateful swollen office mexican (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: wonderful pistol background story 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: umber water buffalo 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: wonderful pistol background story 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: Glittery violet pozpig cumskin 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: clear athletic conference 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: navy patrolman 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 |