Erotica's strategy to get the money

1. Get that friend to create a website with a donation function.
2. Get 16 credit cards
3. Donate $1900 to your friends website with each one of your 16 credit cards.
option 4(A). You and your friend go to a casino and bet $10,000 on red. If you win..great. If you lose...bet $20,000 on red. If you win great. If you lose...the credit card companies will have to eat the $1900.lol. I heard that credit card companies won't take you to court if your debt is under $2000.

option 4(B). Bet all $30,000 on red and forget the martingale.

Thoughts?

First of all, your friend will have costs to get approved as a business to take credit cards, and then will pay about 3% of each transactions. That takes about a grand plus expenses off the top. Or he can open a PayPal account and pay even more in fees.

A credit card company might not take you to court for under $2K, but they damn well will turn it over to collections, bug you, and eventually ruin your credit after they write it off to some place that will pressure you even more to pay up.

Also the credit co, and the collections place can and probably will add legal fees and other "expenses" even if they don't bother with that pesky court stuff.

Lets see what else .... collections guys aren't stupid, and more than one will likely see all your $1900 transactions, get a big hard-on for you and probably clue in the other places. Some will probably sue your sorry a$$ just on principal, and maybe refer the whole mess to your local DA to consider prosecuting you for fraud.

So, if you think it's worth a risk at doubling $30K at less (or even more) than 50-50 odds and then changing your name before you move to Mexico, go for it. Just keep in mind that $60K (if you win) won't last long, especially for the two of you since your friend will be facing Conspiracy charges.

Or take the easy way out, file bankruptcy, cop a plea, get probabation, and no be able to finance anything for less that 22% for the next 8 years.

do you wear a helmet?

Option 5- Go out and get a job. My paycheck is $1900. And I get to do it again, and again, and again, and again...

Do you realize how easy it is to earn $1900 legitimately? Probably less work than filling out 16 credit card applications.

Or take the easy way out, file bankruptcy, cop a plea, get probabation, and no be able to finance anything for less that 22% for the next 8 years.[/QUOTE]


Gambling debts are not discharged under bankruptcy,neither would debts obtained by fraud.
Funny thing about bankruptcy is that it can actually make you a better credit risk in some situations.Thats because lenders don't have to worry about you declaring bankruptcy on them.I've got a cousin who is a bankruptcy trustee.Man the stories he tells,and the bargins we get would make you drool.

i hope you dont think this is an original idea. CC scams were invented 2 hours after the invention of the personal CC. :laugh: My neighbor was a collection agent in his former days....he loved to call about 3am....every night....until you responded. He also had access to lawyers who would take a cut of the money recouped, so it wasnt any skin off his back "upfront" to throw someone into court. :cry: Dont do it man.

Gambling debts are not discharged under bankruptcy,neither would debts obtained by fraud.
Funny thing about bankruptcy is that it can actually make you a better credit risk in some situations.Thats because lenders don't have to worry about you declaring bankruptcy on them.I've got a cousin who is a bankruptcy trustee.Man the stories he tells,and the bargins we get would make you drool.[/QUOTE]

Ddidn't know about the gambling debts thing, but unless it''s a credit line at a casino, how do they know it's gambling money?


Some truth to that new credit thing, but they likely paid a premium interest rate. I know a couple of people really forced into bankruptcy (well, OK they overspent their way there) who said it was a miserable and long experience. They weren't even OK after the seven years it's supposed to be on their credit .... PO'd creditors have a nasty habit of getting it back on record.

Not recommended despite the many myths you hear, though I'm sure your friend saw his share of scams.

You could just take out a credit card to pay the fees! :laugh:

Why don't you just buy stocks on margin like normal people who want to gamble the financial future do?