Just got my first credit card. $1000 limit. Why shouldn’t I take out cash to buy crypto and simply declare bankruptcy?
>>62149618this is why you have a $1,000 limit. Assuming you're a mutt, aside from individual state laws you would have to adhere to regarding liquifiable assets, to even file in Federal bankruptcy court usually costs a couple thousand minimum, and takes quite a bit of time. They can also deny your filing.
>>62149661I’m not a dog…?
>>62151944>posts retarded question>gets answer>retarded replyto page ten it is then
>>62149618Because it's only $1000. Yes you could just not pay, no bankruptcy required and no they're really not going to come after you in court, you just don't answer your phone and ignore the requests.It'll tank your score for 7 years, possibly to the point you have a hard time getting an apartment, and definitely normal credit cards.But $1000 is only a lot to a turbo poorfag. You're going to blow 7 years of credit for what you'd make in like 3 days of work? LmaoIf you want to debt max you could play a longer game of a year or five and get combined limits more like $50k, $100k+. Then max those out and go somewhere else.
>>62151976And yet here you are, conversing with something you think is a dog. What dog do you know can fucking type, stupid?
>>62151989Do you have to flee the country when debt maxing to that extent? Why not buy gold or monero and declare bankruptcy with “zero” assets?
>>62152028everyone is calling you a mutt because you are clearly brown. or some mix thereof. You have the idea of bankruptcy court like a 12 year old that still watches sponge bob.
>>62149618Don't do it. You'll lower your credit score!
>>62149618If you do something like that you'll probably have to pay it back. Bankruptcy has a lookback period where they make sure you aren't doing bullshit like that. You'd unironically be better off getting a bunch of cards and going into a multi-year death spiral. Also there's usually a fat fee for cash advance on credit cards anyway. Not sure if there's platforms that let you use CCs directly.
>>62149618what country are you in?
>>62149618Wow! Nobody ever thought of this before! You are a fucking genius! It's a free money glitch! But seriously, people shit on the whole credit score economy (and they are not wrong) but life as an adult without a credit card is very inconvenient. Travel becomes especially difficult. Try booking a hotel or plane flight without one. Can't even enter a national park in the USA without one now.
>>62149618Yeah, do it. Worst that could happen is that you owe $1,000 (can get it down lower once it is sent to collections)
>>62152116USA >>62152110Death spiral, meaning using a ponzi approach of paying the minimums with new cards? >>62152196I only ever travel with my wife, and she has good credit. Won’t be an issue
How do I take out the biggest personal loan possible
>>62154126Seconding this question
>>62154126high interest loans
>>62149618>simply declare bankruptcyWhy? If you're making good picks you'll make the money back and not have to deal with the bankruptcy process or the consequences of not paying it back. Suppose I should also ask: how much spare money do you have per month?
>>62151989If I pay off all my debts that went to collections will my score reset itself to the 700s in a few days?
>>62149618Too small
>>62149618theyre gonna deny your bankruptcy and theyre just gonna garnish your wagie wage.
>>62156858Exactly
