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>Take out 500k in loans and credit cards>Move to third world country and start a new life with different nameWhy wouldn't this work?
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.
>>53541752Because nobody is going to give you 500k in unsecured credit
Came to literally type this >>53541808It 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
>>53541833Not 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.
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.
paper trails and laws