6 ms·

At this point, couldn't you just arbitrage it, and take out loans / mortgages / cash advances / credit cards just to pay off student loans and back taxes, after

by SeoxyS 9y ago

At this point, couldn't you just arbitrage it, and take out loans / mortgages / cash advances / credit cards just to pay off student loans and back taxes, after after which you'd actually declare bankruptcy.

lotsofpulp 9y ago
If a lender is going to approve a sufficiently large loan to someone with $200k in student loans and tax debt, and without a high income, they would not be in business for long.
notfromhere 9y ago
That's called fraud and you will go to prison for it.
- mcntsh 9y ago
  How is that fraud?
  - amorphid 9y ago
    If you borrow money, and it can be demonstrated you never intended to make a good faith effort to pay it back, you're going to have a bad time.
amorphid 9y ago
I was already tapped out. There was no more money to be borrowed.