/biz/ - Business & Finance

[Anonymous No.56955427]

>max out credit cards
>use it all to buy bitcoin at low prices a year ago
>never pay back credit cards or talk to debt collectors
>crypto max to the next top in 2025
its really that easy bros

[Anonymous No.56955443]

>>56955427
Where can you buy crypto with credit cards?

[Anonymous No.56955463]

>>56955443
i made two paypal accounts and sent money from one account to the other paying with credit. then cash it out to a bank account

[Anonymous No.56955471]

>>56955427
>open account at every bank
>each pre approves me for $1,500 credit card just because im white
>$15,000 in credit from 10 credit cards
>buy 0.3 of a bitcoin when it was at $44,000
>get letter in the mail telling me i have 30 days to leave my property
>forclosure notice taped to my front door
>no banks will open account with me any more
>cant get a job because im homeless now
>hold up a sign and a cup under the overpass
>get robbed and shanked by a wild pack of niggers
>die bleeding in the streets cold in the pouring rain at night looking up to the heavens where my god is waiting for me

[Anonymous No.56955657]

>>56955427
Same as me
I'm paying it off though until they increase it more, plus taking a loan out before I ghost them all

[Anonymous No.56955979]

>Max out CC
>Stop responding to them
>Jews come a knocking on my door

[Anonymous No.56956549]

Also you can get templates online of letters to send to your credit bureaus that basically say X account doesn't belong to me and I will threaten to sue if you don't remove it off my credit report. and due to US federal debt laws the bureaus have 30 days to respond to the letter or else they are legally required to remove said account from your credit report. And credit bureaus gets thousands of these letters a month so most of they time they don't even get to it. You have to do it as an actual physical letter and send it through certified mail, make it look legit, etc. Don't do the automated disputes online, it doesn't work the same way and those systems are all computer generated, no actual person takes a look at your dispute that way. I've done this with prior collection accounts and it works. I took out a $25,000 private student loan and it's completely removed from my credit report. I get no calls from debt collectors for it and I never paid a cent back of the loan.

[Anonymous No.56956674]

>>56955979
We have come to collect

[Anonymous No.56957144]

>>56956549
Let’s say I have a $10k balance on a credit card with a major US bank, would this strategy work here or would I have to stop paying it first and let it go to collections? I’ve also heard of people being able to negotiate their debt down in these situations, anyone have tips on that? I’ve been holding this balance a while in hopes of figuring out how to beat the banks

[Anonymous No.56957644]

>>56957144
stop paying and go to collections. usually cc company will sell your debt to a law firm debt collector. look for their mail. call them and offer an up-front payment at 40-60% of the original value. most people can't do this and end up opting for a payment plan with the law firm... the key is to have capital to put up to them right away and settle the account.

is it worth it though? usually going to collections means you've missed payments and your credit will suffer. but you can settle for 50 cents on the dollar for the debt.... so just something to consider.

[Anonymous No.56957732]

If you debtmaxx you need to at least attempt to pay it off. Make a couple monthly payments before stopping. And don't dump several cards all at once. Do it over several months

[Anonymous No.56957767]

>>56955463
This works? You don't get terminated?

[Anonymous No.56957840]

>>56957644
>>56957732
Any idea how much this affects my credit score? I might try to buy a house in a couple years, wondering if it’s not gonna be worth the relatively minor $5k I’d save

[Anonymous No.56957888]

>>56957840
it takes months, maybe even a year or two to repair that. usually not worth it unless the debt is significant.

[Anonymous No.56957896]

>>56955979
There's no such thing as a debtors prison

[Anonymous No.56958072]

>>56957767
It worked when I did it earlier this year. The main account I have that needs to be verified with your bank account information to cash out is still intact. I just checked, the account is in good standing. The burner account account I made to send the cash via credit I'm not sure. I don't remember the account information. I think I sent small amounts at first just to make sure it would go through and not hold all my money. I only did it with two different credit cards though so if you did it enough times I'm sure it would send some red flags.

[Anonymous No.56958115]

>>56955443
Binance

[Anonymous No.56958300]

>>56958072
Wont you have to pay it all back with interest eventually?

[Anonymous No.56958381]

>>56955427
>never pay back credit cards or talk to debt collectors
The ultimate outcome of not paying your debts is that your creditors will sue you in court and you will lose. The judge will allow any of the following:
- wages garnished
- bank accounts seized/emptied
- personal property seized
- liens on property
You will also destroy your credit score, which means:
- no car loan
- no home loan
- no postpaid internet/cell/utilities service
- harder to rent, you will fail every tenant check from landlords
- fail job interviews when employer runs credit check
- higher insurance rates
Is it worth it?