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/biz/ - Business & Finance

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53541752 No.53541752 [Reply] [Original]

>Take out 500k in loans and credit cards
>Move to third world country and start a new life with different name
Why wouldn't this work?

>> No.53541808

It does work, thats what a bunch of immigrants do all the time. Sometimes they declare bankruptcy, sometimes they don't, but then they come back 7 years later (when it drops off your file) and live back in the states.

Most immigrants just end up buying property back home though.

>> No.53541833

>>53541752
Because nobody is going to give you 500k in unsecured credit

>> No.53541857

Came to literally type this >>53541808
It does work and that's what a lot of these immigrants do, they creditmaxx and then sometimes never return even, living out their days as the richest person in their little town.
But that's okay because you know how our economy works, them doing that literally helps us out lol

>> No.53541859

>>53541833
Not all at once no, but if you get a decent paying job 50-75k/yr and slowly open up credit cards, keep your utilization low, they'll eventually raise your credit.

My dad is on social security and literally forgot he had an Amex, they sent him a letter saying his limit was raised from 3k to $15k.

>> No.53541906

You wouldn't even need to change your name in the new country btw.

The only problem is if you wanted to work for a place that does background checks or the gov't if you decide to return.

>> No.53543941

paper trails and laws