/biz/ - Business & Finance

[Anonymous No.55132469]

Ok, you debtmaxxed and have a shit-ton of money and your credit will be ruined forever.
What's unironically your next step?

[Anonymous No.55132487]

Idk, I just got the money

[Anonymous No.55132488]

>>55132469
It gets removed after 7 years. Just rebuild your credit score and do it all over again.

[Anonymous No.55132493]

that's me except no money

[Anonymous No.55132563]

>>55132488
Are you sure jews will let you get away with it?

[Anonymous No.55132582]

>>55132469
Bankruptcy and wage garnishing.

[Anonymous No.55132670]

>>55132469
Use the money to start a business

[Anonymous No.55132676]

>>55132469
Cry to big daddy government and his tranny whores socialism and communism.

[Anonymous No.55132677]

>>55132469
Okay done, except I have no credit, money, faith, hope, or happiness left.
Wat do?

[Anonymous No.55133071]

>>55132670
but what about >>55132563 ?

[Anonymous No.55133138]

>>55132469
>Credit score
Nice third world shithole thing

[Anonymous No.55133458]

Ok can someone give me a rundown on debtmaxxing. I'm familiar with it only briefly from the sam Hyde video "Ahhhh my back, doctors got me on these pills...". I'm almost 30 never had a credit card and don't rent or plan on renting. Whats the process? how can I get a bunch of money and not pay them back? I live in different parts of the country throughout the year. Is there a guide to debtmaxxing somewhere I can read? Is there a guide somewhere someone can point me to? Pls give me the rundown.

[Anonymous No.55133546]

>>55133458
Be thankful I am replying to you first. Never trust a word anyone on here says. Debtmaxxing is a meme perpetuated by college dropouts living in their mommy’s basements. Don’t assume any debt if you can avoid it. Don’t perpetuate this flawed system and don’t go to jail trying to break it. Simple as.

[Anonymous No.55133579]

>>55133546
Yup this anons right, 99% of the "Advice" given here is made by jewish computer farms, they have unironically killed a few anons here on purpose by getting them to poison themselves, or do dumb shit like this that causes them to try to kill themselves
>T. reverse glowie who's gotten glowies to give him 5k 4x thinking I was gonna hero and do something to people.

[Anonymous No.55133641]

So with debtmaxxing, do I just max out my credit cards and do whatever I want with it and never pay it back?

[Anonymous No.55133727]

>>55133546
>>55133579
Or are you two the "glowies" trying to prevent anons from beating the system with its own tricks? fucking hell you never know with this site. Alright I've heard the one side from these guys. They're saying it's a scam meme designed to trap ppl who want free money. Anyone care to chime in with an argument for the other side?

[Anonymous No.55133911]

>>55133727
debtmaxxing isn’t about not paying it back, anon. debt is how every person gets rich, it’s how every S&P500 company stays solvent. We live in a system where the currency is literally back by debt. Debt is wealth in this stream. People who take on debt to invest into profitable things like rental properties, buying a business, or starting a business are the ones who get rich. People who take on debt to buy unprofitable things like liberal arts degrees, mortgages on homes that generate zero income, or to buy shoes, etc are the people who stay poor.

[Anonymous No.55133944]

>>55133727
>Beat the system with it's own tricks
An absolute logical fallacy, it's designed to enslave you.
I took a $200 loan out just because it was uploan or whatever and it's because they are failing horribly so it will get eaten up.
I won't go over $200 and neither should anyone period doesn't matter if you're worth 1m.
Go take your money and make money with it, borrowing is for slaves.
Debt free = true freedom.

[Anonymous No.55134010]

>>55133944
>debt slave
>owns Mar-Lago
>is a billionaire
Why do you think Trump has like 5-10 major bankruptcies that the media likes to mock him for all the time? Because people borrow money to start or buy businesses, and if one fails then you can’t pay back the debt and declare bankruptcy. If he was just investing his own money his businesses wouldn’t “declare bankruptcy” they would just go out of business (or more likely get bought).
Debt is poverty if you invest it poorly, and debt is wealth if you invest it wisely.

[Anonymous No.55134022]

debt will eventually fall off your report as "charged off" within 180 days of no payment. likely sold to collection agency and may show up as a collection on your credit report after that time. credit will go down for months until charged off, then up a good amount, and then down again once in collections. once in collections, depending on the type of debt and amount they can sue you for a default judgement, at which time you can file chapter 7 or 13 depending which suit your needs. keep in mind there are usually income limits for chapter 7 (entirely remove debt) vs chapter 13 (payment plans on debt/partial relief). also gets complicated when assets are involved but ultimately you can pretty much get away with writing off credit cards, and medical bills. very hard to get student loans discharged. if you have student loans, debt max with CCs then pay off the balance with the funds. they can and will pursue default judgement for student loans and can get wage garnishment especially if they are fed loans provided not on payment pause. stay safe and enjoy the funds while having shit credit for 2-7 years.

[Anonymous No.55134033]

>>55132469
Buy $100 of doordash with some of the money while I think about my options

[Anonymous No.55134051]

>>55134010
Hey iphone glowie, he's the son of wealth, nothing he does can be used as a comparison for the average individual.
He also had to go on WWE to get money to survive during his bankruptcies.
Again he's a slave to others.

[Anonymous No.55134074]

>maxx
no
>moderate
yes

[Anonymous No.55134082]

>>55132469
>forever

You mean, 7yrs?

[Anonymous No.55134093]

How do I debt max though? I only have 1500 on one card and no one else accepts me now, I even make regular minimum payments

[Anonymous No.55134167]

>>55134051
and how did his family get their wealth? borrowing money to buy or build real estate in jew york.

[Anonymous No.55134187]

>>55134167
>>55134167
Wrong.
All their families money was made before debt was even a thing, nice try faggot.

[Anonymous No.55134236]

>>55134187
>before debt was even a thing
anon, medieval kings would borrow money from jew bankers to finance a war against their cousin for control of the crown.

[Anonymous No.55134243]

>>55134236
Average personal debt amongst the richest americans in 1940 was 400 dollars.
Again nice try, debt wasn't a thing people could just go leverage against until the 80s.

[Anonymous No.55134300]

What stopping me from opening a $20,000 line of credit in 3 different banks, putting all that into crypto or some other scheme, and then running off to some shit hole country that doesn't extradite and living like a king?

[Anonymous No.55134345]

>>55134243
If you read
>>55133911
you’ll see that I said this is largely the case today because our currency is backed by debt. I agree debt was less central to the economy, especially for the average person, in the past, but that doesn’t mean it isn’t central to the economy today.

[Anonymous No.55134355]

>>55133641
Basically yes

[Anonymous No.55134370]

>>55134300
no guarantee the other country will save your ass
and if it's a shithole country then ofc they'll bring you back over there for a sum

[Anonymous No.55134427]

>>55134370
international affairs are not like the hollywood movies m8

[Anonymous No.55134495]

A bunch of retards in this thread. Allow me to explain. This process takes several years to do properly.

Get a 0 interest credit card for 18 months, max it out, make your payments on time, but don't use it to buy dumb shit, you have to invest with the money. IE crypto or side hustles.

Once the 18 months is almost up, apply for another 18 month interest free credit card that allows balance transfers, transfer your entire balance to the next card and continue to make the minimum payment.

Now, your 1st credit card has a 0 balance and your credit score is higher since you now have more available credit.

Do not max out the 1st card again just yet. Keep it at 0 so your credit increases and you look like a good goy.

Hopefully by now, the money you invested with the first maxed out card that is now a 0 balance is at least making you some money, all the while making the min payment on #2 without interest.

Now, you should be able to apply for at least 2-3 more credit cards or more, keep balances low and constantly ask them to increase your limit (you will have to lie and say you make more money than you really do)

Once the 18 months are up, apply for another 18 month interest free card and now the fun starts, by this point you should have around 5-8 credit cards with a total credit of anywhere from 40k-100k. Anywhere from 5k-20k per card if you've done things right. Your credit score should be really high at this point 750-800. Use this time to apply for personal loans, car loans, etc while you can.

Now that you have around 100k of credit, you can now start to max out every single card to open a business, invest in crypto, or simply be a degenerate gambler.

This is where you finally stop making payments all together and ignore their calls, mail, etc. They will be begging you to pay anything you can, usually reducing the amount owed by up to 50% or more. If you want to keep your credit in decent standing, accept the offers. Or, you will have to now file bankruptcy.

[Anonymous No.55134504]

>>55132469
Move to a third world country, cutoff from judoe-anglo banking system, and live life.

[Anonymous No.55134627]

>>55132488
It's actually ten years now. Fun Fact.

[Anonymous No.55135717]

>>55133641
its not just maxxxing out your credit cards you have so far. its strategically applying for as much credit as you can get. hopefully a sum thats large enough to live off of for at least the statute of limitations to pass before you start anew (new hampshire is 3 years). for me 100k is the minimum i would build up to and buy gold with then leave the country forever bc this country is done for imo-- its only going to get considerably worse. ideally you would already have enough liquid capital in combination with the amount you debtmaxxed to run away with.

[Anonymous No.55136488]

>>55134495
The less assets you have the more leverage you have too. The "aww jeeze dude" Rochefort power play system works insanely well when you don't have anything to pay back the debt.

I'm currently servicing 50K of debt for $7.54 a month.

If they sue trying to garnish your wages have your attorney constantly hammer it as indentured servitude. Which is illegal in the USA and Canada.

Credit is a stupid fucking system and deserves to be ridiculed and burnt to the ground by people abusing it as much as possible.

Use credit to buy tools that can produce more value than they cost. Cameras, computers, CNC machines, laser cutters, laminators, printers, etc.

Never pay them a fucking dime back.

[Anonymous No.55136753]

>>55134093
Stop. Please stop. Pay the whole thing off and stop only making minimum payments

[Anonymous No.55136808]

>>55132469
If I'm debtmaxxing it means I already plan to leave the country and not come back. I'll put all the money in crypto, cash out on the other side and in all likelihood the creditors will never even be able to even contact me.

[Anonymous No.55138516]

>>55132469
I'm still screwed until one of my future children takes pity on me and pays for them, I'm going to take advantage of the fact that I'm young to buy stupid things, I even use KEK constantly just to show off how well I handle money enough to make these expenses

[Anonymous No.55138523]

>>55132469
Gamble it all on a shitcoin.
Lose all your money.
Declare bankruptcy.
Don't pay back the loan.
Could this work?

[Anonymous No.55138651]

You're all idiots. Proper debtmaxing is done as follows:
>Buy profitable but failing company with good reputation, well regarded mom and pop business, etc
>Register it as LLC
>Take it public, sell of stock options with promise of turning around company
>Strip and sell all the assets, preferably at pennies on the dollar to your friends or another shell company you own
>Fire non essential employees
>Take this money and pay yourself big bonuses, or filter it through multiple shell companies you own in order to avoid taxes
>Set aside a couple grand (literally $2000 or less) to buy PO boxes in major cities that forward mail to you, run newspaper advertisements about your great returns and profits this quarter (from selling off all the assets) as well as your rapid and ambitious expansion
>Use this media hype to pump stock options even more, continuing to sell as much stock as humanly possible
>Take out a shitload of company loans as well, give yourself a few congratulatory all expenses paid "work trips", end of quarter bonuses, or just buy gold and bury it in the desert somewhere
>Declare bankruptcy
Pretty sure this is how the majority of worlds richest people made their fortune.

[Anonymous No.55138706]

>>55134345
Good job holding your ground against that schizo dumbass.

I sweat some of the nuts you meet on this site

[Anonymous No.55138710]

You either wait for it to fall off your goyim report or you move to a 3rd world country depending on the size of your cash out

[Anonymous No.55138716]

>>55132469
Buy >>55138711 in cash

[Anonymous No.55139409]

>>55138523
Why gamble in crypto when tools like Altcoinistdao and DeFiLlama are at your disposal for crypto research

[Anonymous No.55139522]

>>55133546
This. It's funny to talk about but the people taking it seriously either never did it or had a bunch of debt anyways and are just rationalizing it. No one in a good financial position is going to do this, and the period of laying low means you're going to lose more than you'll get. Debtmaxxing is the peak of ngmi mindset because it focuses on getting a couple grand you'll spend on worthless shit instead of caring about long-term growth or well-being.

[Anonymous No.55139662]

>>55134022
This anon is spot on. Bankruptcy is a put option. Depending on the state you live in plays a huge factor as well. Below is a good initial read on it:

https://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/24xx/doc2421/bankruptcy.pdf

[Anonymous No.55139668]

>>55132469
hey, it's me. i created the debtmaxx copaypasta during lockdown. it was just a joke. i hope you're not actually following my advice.

[Anonymous No.55140658]

It’s hilarious that retards here think they can get away with defaulting on their credit cards when there’s been CCs for 70 years. You really think some retard just as dumb as you didn’t already try this decades ago?

[Anonymous No.55143239]

>>55132469
nice pic. I made a similar one a while ago

[Anonymous No.55143338]

>>55134093
I think you're supposed to use no more than 30% the maximum, and pay it in full every time.
That's the pattern to go positive, according to what I heard.

[Anonymous No.55143609]

>>55140658
It's funny to see how many retards have been tricked by Sam to debt Maxx and then he says on a podcast that he's paying everything back because he wants to own a house.
99 out of a 100 people are not going to time the crypto market like he did.

[Anonymous No.55143640]

>>55132469
move to another country

[Anonymous No.55144686]

>>55143609
if you do this >>55143640 you win.
How they will find you?
>>55143239
Based crocobro