Beat the bank

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  1. Bovine Currency profile image57
    Bovine Currencyposted 8 years ago

    If you go bankrupt it is not too difficult to hide some cash before they catch you.  Illegal of course, so I am not advising you do so.  However, if you did have some cash spare and could warrant buying some liquid assets, say gold, bury the gold and survive long enough to come out of bankruptsy, you would be rather well off depending how smart you are with how you plan and adminster your bankruptsy.  I am not sure for Americans, I am Australian, but in Australia, if you leave the country without being declared bankrupt but still owing debt, if they cannot catch you overseas, you can come back after seven years.  After those years, they cannot touch you, only if you admit the debt will you be forced to pay.  In some countries, say India, it is very possible to live on $200 a week.  You do not need citizenship as you can simply cross a border for one day and come back on a new visa.  Just some ideas.

    1. Ben Zoltak profile image83
      Ben Zoltakposted 8 years agoin reply to this

      I haven't had to go down this road.  I haven't succeeded in a whole lot yet in life, but at least I haven't had to go bankrupt. Here in the States lots of airheads consider Donald Trump a hero, meanwhile he's living off of their taxes. Bankruptcy seems to have gained some luster in the last few years hey Bovine?

      Cheers

      Ben

  2. Bovine Currency profile image57
    Bovine Currencyposted 8 years ago

    Shameless bump

  3. chinweike profile image64
    chinweikeposted 8 years ago

    Despite the intention of the lwa makers in 2005 (to make it difficult for people to file for bankruptcy), bankruptcy still found int way back in the news.

    Too bad I must say!

 
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