More specifically, when someone takes out the highest loan amount from the bank that they can & then flees the country in order to not pay it back, what exactly happens in such cases?
In: Other
Every few years I take out a few credit cards for a couple thousand bucks, max them out and then ignore all unrecognized phone numbers. The debts get passed between collection agencies and after a few years they fall off my credit report entirely, my credit score goes back up, and I repeat the process. No fleeing the country or bankruptcy filing necessary, but this is just small time credit card debt of course.
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