Good episode! I thought that after seven years you basically get a clean slate credit wise.. Idk. Like most Americans, I am financially illiterate. I have been trying to save and learn more about this stuff over the past 6 months. You mentioned schools, and I think that is a great point. We should teach children about this shit from a young age. Finances, saving, investing, and how to start over if and when you get in over your head financially. Tbh that would be a real world skill and probably more useful than much of the Howard Zinn education that is so prevalent today.
767 Debt Collectors
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Martin Hash
- Posts: 18721
- Joined: Wed Jan 20, 2010 2:02 pm
767 Debt Collectors
Shamedia, Shamdemic, Shamucation, Shamlection, Shamconomy & Shamate Change
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heydaralon
- Posts: 7571
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Re: 767 Debt Collectors
Shikata ga nai
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Speaker to Animals
- Posts: 38685
- Joined: Wed Nov 30, 2016 5:59 pm
Re: 767 Debt Collectors
Get any money out of bank accounts and move to a different state. Change phone numbers. Wait seven years.
I have heard of some people who actually make a small income off their debt collectors because those collectors often violate the law and, if you are good at going to court and filing motions, you can amass a regular income from them in judgments.
I have actually wondered if it were possible for somebody to run up student debt, get a decent job, get a subsequent line of credit, and then use the credit line to pay off the student debt. Next default on the credit line. Wait seven years. Done. Even if you are worried about paycheck garnishments, you could move to Europe or Canada if you wanted to and work there for a while.
I have heard of some people who actually make a small income off their debt collectors because those collectors often violate the law and, if you are good at going to court and filing motions, you can amass a regular income from them in judgments.
I have actually wondered if it were possible for somebody to run up student debt, get a decent job, get a subsequent line of credit, and then use the credit line to pay off the student debt. Next default on the credit line. Wait seven years. Done. Even if you are worried about paycheck garnishments, you could move to Europe or Canada if you wanted to and work there for a while.
