/biz/ - Business & Finance

Do it, say you lost keys, report back to us

>>28492113
Thanks OP I needed a good example of why retards always fail at crime.
I am not a lawyer, the following is not legal advice.

>so if i file chapter 7 they cant get my crypto right?
Wrong, you have to list all of your assets when you declare bankruptcy and your creditors are allowed to take all of your assets to recover there losses from your debt. You can choose to not list your crypto, that way you get to go to jail for 5 years for perjury because they are not retarded enough not to see that you maxed out all your cards buying crypto.

>ive never taken out credit for anything before and i paid my bills.
That also means your credit score is 0, as you have no credit history. No history is worse then bad history. Paying your bills means fuck all because the credit card companies can't see any of that. tl;dr no one is going to give you a credit limit above $100.

>this seems like money for nothing.
Yes retard, to you it does look that way.

>>28492546
kek

Don't listen to him anon, it sounds like a good idea.

>>28492415
the german dude got away but in the us they could claim my debt was nondischargeable if they believe that i took on the debt without knowing how i was gonna pay for it. from what ive read you gotta make it look like you are a fucking moron.
>>28492546
say i list the crypto but like above i say i lost the key. then say i start taking out credit and growing my score over the course of a year of payments. i get some cards with pretty big limits eventually and max them over the course lf the next year stacking crypto. then i file chapter 7 and they forget all about it because im moron who lost the keys, right?

>>28493028
>you do this
>they check bank records
>see that you bought crypto
>seize your assets
>search your hard drives
>find crypto
>you probably end up going to jail

Great idea anon.

>>28493262
you dont know what the fuck your talking about so plz leave honey. there is no debtors jail. there are people in 200,000+ debt in this country and they are walkin on sunshine. im looking for people who know about this shit faggot.

>>28492113
How'd they teach that cat to do that

>>28493475
Go ahead do it retard. Have fun!

>>28492546
>>28493262
>>28494074
So much negativity, i say that op should go along with his plan and provide us some entertainment

>>28493028
>i list the crypto but like above i say i lost the key
I don't think it's actually been tried.
I would guess your creditors would still take legal ownership over the wallet but we are in a gray area here.

>i get some cards with pretty big limits
Would actually take years, and you would need a high paying job. You can lie on the application, most people do and get away with it, but when you declare bankruptcy you have to admit you lied about your income, which will likely get the cards you lied about removed from the bankruptcy (meaning you would still owe the money after bankruptcy) or you can go back to committing perjury by lying under oath and say you actually were making 6 figures when you took out those cards. It's pretty easy to verify your salary so this route likely ends in prison.

>>28493262
>seize your assets
>search your hard drives
They only take the assets you list and that is after the case. It's unlikely they will take the time to search his hard drives and while they might be able to relaunch a case it's not worth there time even if they found records of him buying crypto unless anon somehow actually managed to get a really high credit limit.

>>28493475
>you dont know what the fuck your talking about so plz leave honey. there is no debtors jail.
This is correct, there is no debtors jail. You can't go to jail for owing money, however you absolutely can find yourself in prison if you committed perjury (lied) while getting into that debt. Lots of states have a 1 year minimum sentence for that.

>>28494669
Having said all that, for smaller amounts some creditors don't even show up and you can lie your ass off unchecked. That's how a lot of people with 10-20k debt get out of it, not worth paying a lawyer to go in front of a judge to argue that Miss Williams wasn't actually making 200k a year when she applied for her Visa card or paying an investigator to dig through her transaction logs to prove she did not disclose all of her assets and the $2000 shoes she listed for us to take as repayment were only worth $20 when bought new and are now completely worthless.

So who knows if OP's plan would work.