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Credit card debt is, in most states, entirely dischargable in bankruptcy. So while it would be unethical to take on all this debt specifically with the purposes
by bradleyland 15y ago
Credit card debt is, in most states, entirely dischargable in bankruptcy. So while it would be unethical to take on all this debt specifically with the purposes of squandering it, the CC companies are extending you an unsecured loan. It's really not all that bad of an idea, provided you can survive a bankruptcy and a few years of exceptionally poor credit.
- peteretep 15y ago> while it would be unethical to take on all this debt specifically with the purposes of squandering it Actually, in the UK, if they can prove it, it's illegal. Be surprised if that wasn't the same in the West.
- bradleyland 15y agoI actually worked for a US Bankruptcy Trustee in Florida for about three years. It is illegal here as well.
- djloche 15y agoin the united states, if you borrow with the intention of defaulting, it is illegal. What you do with your borrowed funds doesn't matter.
- SurfScore 15y agoisn't that Donald Trump's business model?