Ducky_Fresh
Treasure Hunter
OK - help me understand something.
What happens if you have good credit and a credit card limit of $20,000. You max it out and do cash advances, then stop paying and walk away. I don't care, move to another country, go off grid, or move to a "cash and carry" lifestyle.
What happens?
From what I could read, you just go to collections, then another collections, then maybe you can settle or something for pennies on the dollar. Of course, you tank your credit and get a bunch of nasty notices.
I guess it begs the question, could it be worth it? What if you could cash out $100,000 and you won't be buying a house or anything of significance.
I'm too much of a sheep to do it, but I do get curious..
What happens if you have good credit and a credit card limit of $20,000. You max it out and do cash advances, then stop paying and walk away. I don't care, move to another country, go off grid, or move to a "cash and carry" lifestyle.
What happens?
From what I could read, you just go to collections, then another collections, then maybe you can settle or something for pennies on the dollar. Of course, you tank your credit and get a bunch of nasty notices.
I guess it begs the question, could it be worth it? What if you could cash out $100,000 and you won't be buying a house or anything of significance.
I'm too much of a sheep to do it, but I do get curious..