Naive question of the day regarding "suicide cash advances"

[Sponger.]

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The only problem I see with this idea would be that family members might inherit your debt -- not sure how this works though.

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Well you're dead anyways so who cares? freeroll time! gogogogogo

[superadvisor]

Some things to consider:
What is a suicidally depressed person going to buy with 250K?
250K is not that much money a new car and a big down payment on a house? It's not going to solve any social problems with his or her life. If the person is on drugs or addicted to alcohol to cope with the depression, a ton of money would not help that persons situation. Also, consider that perhaps a person who is suicidally depressed, at rock bottom in their life most likely doesn't have the energy to go through all the steps to do this and even then he might think it's all pointless anyways.

[Dr. Strangelove]

More discussion please. This is very interesting. Is it feasible to keep leveraging indefinitely, maybe with different identities, and then disappear? How far could you take this idea? I believe during the savings and loan debacle a guy essentially did this and ended up with several billion before being caught.

[cbloom]

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More discussion please. This is very interesting. Is it feasible to keep leveraging indefinitely, maybe with different identities, and then disappear? How far could you take this idea? I believe during the savings and loan debacle a guy essentially did this and ended up with several billion before being caught.

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Well you have to hit your 50% double up each time, so your chance of doing it N times is .5^N which gets bad fast.

The ideal way to go is to leverage as much as possible with your shot. If you can find some sort of stock/finance instrument to leverage 10X or 100X or whatever and have a shot to double up, that's ideal. If you miss your debt is colossal but who cares?

[Dr. Strangelove]

I mean, can't you take your starting credit and turn it into some form that you can get a bigger loan against and keep doing this?

[im a model]

in america, people cannot inherit debt.

plus you dont have to be suicidal. you can just have madd gambooooooooool and not value life that much. im surprised more people dont take out loans and just peace out of the country. especially if youre going to move back to a place without extridition to the u.s. anyway.

if i were to take out a big loan in this fashion, i would go to the big game in vegas. or challenge negreanu head up with a high blind structure.

roullette is so cold and suckerish.

[lefunque]

You can move to a place without US extradition, but bounty hunters can travel to any country. If you think banks don't have the drive and money to eventually catch up to you unless you are well-connected and have mad planning skills, well, you're wrong. And chances are, in these countries it will be cheaper and easier to find willing goons.

[Blarg]

I read a book by a banker that said exactly that. Standard is spending half the money you stole on tracking you down. And they don't necessarily care about bringing you back for trial. An example he gave from catching a thief in a harsh third-world country was framing a thief for drugs and having the local police arrest him with them while he was knocked out on his boat.

[crazy canuck]

On a related note, can a terminally ill person take out a loan with the intention of never paying it back?

[cbloom]

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I read a book by a banker that said exactly that. Standard is spending half the money you stole on tracking you down. And they don't necessarily care about bringing you back for trial. An example he gave from catching a thief in a harsh third-world country was framing a thief for drugs and having the local police arrest him with them while he was knocked out on his boat.

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Meh, if I was at the point in life where I'm considering doing this, I would consider being chased by bounty hunters pretty fun. I'd buy some guns and move often, avoid traceable ties, etc.