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As long as you have the ability to start earning quickly and are smart about it, you can get through that without breaking your credit record. The key to deali
by Duff 15y ago
As long as you have the ability to start earning quickly and are smart about it, you can get through that without breaking your credit record.
The key to dealing with credit cards is understanding the terms -- it's all written down in a little document that nobody reads. In particular, you need to understand precisely how each lender defines "default". "Default" == no more 0%.
Also, this guy had the business networking chops required to jump into consulting gigs immediately upon declaring failure. The exit strategy is essential.
I did something similar to this with a house that I needed to get out of quickly. I borrowed $52,000 over several cards and ended up using $40k. The $12k was used as a pool to make the automatic payments from. End result? The value of the home increased by $80k.