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/biz/ - Business & Finance

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10377683 No.10377683 [Reply] [Original]

what are some ways to "game" the system? I read about an anon last night who racked up a ton of credit card debt and then settled to only pay back half to the creditors. I also read about some tax write offs such as storing hay on your property or having X amount of certain plants qualifies you for farmer benefits.

anything else like this?

>> No.10377705

>>10377683

>rack up debt, let accounts go to collections, ruin credit, settle with debt collection agency for 50%.

yeah op, sounds like a plan.

>> No.10377715

>>10377705
don't rely on debt to live your life. just use the free money to boost your position. don't declare bankruptcy and you'll be fine.

>> No.10377731

>>10377705
>stop paying credit cards
>settle with cc company for 0% interest to pay off the balance owed

>stop paying
>let it go into collections and get sold off
>settle for 50%

>> No.10377797

If you get a letter of deletion it won't affect your credit score once you pay the collection agency. If you don't get a letter of deletion and "settle" with the debt collector, they can legally sell the leftover amount to another debt collector.

>> No.10377965

Sam Hyde literally made a video explaining this.

https://www.youtube.com/watch?v=oD2gXY4piF4

>> No.10378117
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10378117

>>10377965
holy fuck this is brilliant