Time to borrow 100k and enjoy life

[DaleCooper]

With student debt in US around 1 trillion (source: http://finance.yahoo.com/news/private-student-loan-debt-reaches-091200422.html) combined with personal, government debts at record levels it is obvious to me that these loans will never be repaid and debt will eventually be forgiven.

So, I'm thinking about borrowing a huge amount of money and getting into debt.

How about you?

[thelefteyeguy]

100K?....you live at home don't you?

[DaleCooper]

Where else would I live?

[DiceMan]

$100k? That's a house downpayment. Not even a mortgage.

[ji2o0k]

$100k ain't no thang....you need more money to roll like a baller....

Your $100K would make it rain for like 8 secs....tops....

[aTriangle]

You're not enjoying your life now?

[thelefteyeguy]

if you aint got 100k now or making at least 100k in salary per year I would advise you to leave RFd...you think this community is here to save you money...but in the long run...it will run you dry. The hot deals forum will make you buy the most awful useless things in your life; you are told to buy now and think later....eventually you end up with a house full of junk, 10 laptops with prices errors, 100 cellphones that are refurbished, a flat screen TV in each room that are all crappy LGs and samsung, 1million LED flashlights (enough to light the city of markham), countless cellphone plan with all the couriers, 100 roomba's, millions of crappy tablets from RIM, android knock offs from China, and other junk that you will never use but purchased cause of herd mentality.

[Catherine111]

Hmmm.... But i would never like to choose the way of enjoying life with borrowed money or by getting into debt.

[DaleCooper]

Hmmm.... But i would never like to choose the way of enjoying life with borrowed money or by getting into debt.

Why not? Bankers are doing it with your money. The worst thing is you declare bankruptcy. Big deal.

[Piro21]

With student debt in US around 1 trillion (source: http://finance.yahoo.com/news/private-student-loan-debt-reaches-091200422.html) combined with personal, government debts at record levels it is obvious to me that these loans will never be repaid and debt will eventually be forgiven.

So, I'm thinking about borrowing a huge amount of money and getting into debt.

How about you?

Those amounts won't be forgiven. Inflation will just make money worth a lot less, so a $100k loan will be easier to repay when salaries and costs rise and a loaf of bread costs $20

[DaleCooper]

Those amounts won't be forgiven. Inflation will just make money worth a lot less, so a $100k loan will be easier to repay when salaries and costs rise and a loaf of bread costs $20

If that system worked I would still have a country.

[Aristophanes]

Why not? Bankers are doing it with your money. The worst thing is you declare bankruptcy. Big deal.

Except student loans are not forgiven.

[ovechkin1]

Those amounts won't be forgiven. Inflation will just make money worth a lot less, so a $100k loan will be easier to repay when salaries and costs rise and a loaf of bread costs $20
statute of limitation and afterwards nobody gives a ***** .

[ovechkin1]

Except student loans are not forgiven.
From the government yes, from a private institution no.

[transitguy1]

With student debt in US around 1 trillion (source: http://finance.yahoo.com/news/private-student-loan-debt-reaches-091200422.html) combined with personal, government debts at record levels it is obvious to me that these loans will never be repaid and debt will eventually be forgiven.

So, I'm thinking about borrowing a huge amount of money and getting into debt.

How about you?

Yes, there are people who get you a loan of about 150k. Use it and declare bankruptcy.

Get back at the corporate world that way, and enjoy the ride and life.

I suggest leaving the country for a few yrs though, WITH the money.

[TodayHello]

Isn't it awesome when kids learn how to use the internet?

[easylistener]

How would you secure a 100k loan? Government loans require you to be enrolled in an accredited post-secondary institution, and even then the money is paid out in instalments as you move from semester to semester. Many schools will also deduct tuition from your loans at the start of each semester, leaving you only a portion of the loan for food and rent. I've never dealt with private loan programs, but no doubt they'll require some form of collateral in case of a default on the part of the borrower.

[DaleCooper]

How would you secure a 100k loan? Government loans require you to be enrolled in an accredited post-secondary institution, and even then the money is paid out in instalments as you move from semester to semester. Many schools will also deduct tuition from your loans at the start of each semester, leaving you only a portion of the loan for food and rent. I've never dealt with private loan programs, but no doubt they'll require some form of collateral in case of a default on the part of the borrower.

Collateral is a property.

Sell property - keep the money.

Not that I would ever do such thing.

[hagbard]

Maybe you should try following the Heisenberg theory? ;)

[king_george]

Collateral is a property.

Sell property - keep the money.

Not that I would ever do such thing.

100k wouldn't even begin to cover the lawyers fees for the legal troubles you'd get into by doing that. Better borrow more.

You've never even researched what personal bankruptcy is I bet. :lol: If you had you wouldn't be so cavalier about it.

[DaleCooper]

Wat lawyer fees? They's have to find me first. Difficult if you live in the Philippines, if you know wat I mean?

[wilsonlam97]

if you aint got 100k now or making at least 100k in salary per year I would advise you to leave RFd...you think this community is here to save you money...but in the long run...it will run you dry. The hot deals forum will make you buy the most awful useless things in your life; you are told to buy now and think later....eventually you end up with a house full of junk, 10 laptops with prices errors, 100 cellphones that are refurbished, a flat screen TV in each room that are all crappy LGs and samsung, 1million LED flashlights (enough to light the city of markham), countless cellphone plan with all the couriers, 100 roomba's, millions of crappy tablets from RIM, android knock offs from China, and other junk that you will never use but purchased cause of herd mentality.

True RFDer. ;(

[wilsonlam97]

Wat lawyer fees? They's have to find me first. Difficult if you live in the Philippines, if you know wat I mean?

No please. Not that story again.

[TodayHello]

No please. Not that story again.

Rookies

[dragon_drift]

100k won't last you forever though.

[Supercooled]

Wat lawyer fees? They's have to find me first. Difficult if you live in the Philippines, if you know wat I mean?

Bastard child of D.B Cooper?

[gman]

Collateral is a property.

Sell property - keep the money.

Not that I would ever do such thing.

Are you saying using the house as collateral to borrow $100k and then sell the house without paying back $100k?
You do know you can't sell the house without that $100k loan clears first, right?

[TheRed]

As a financial advisor I would actually advise you to do just that. Borrow as much money and declare bankruptcy. So what all your debt will be forgiven and u just fly the money to some Swiss bank.

[adelfoxy]

You can compare different loan options then decide what can you do.

[mysticalinfluence]

Where else would I live?

Oh I don't know like in your own place as most mature adults do.

[desidealer49]

Sounds tempting at first glance, but my conscience is too strong :P

Just use your talents or whatever "gift" you may have, forge meaningful relationships and enjoy life? Why do you need to follow the hollywood glitter to enjoy life or be at peace?

Also, $100k is going to run out in days.

[wilsonlam97]

As a financial advisor I would actually advise you to do just that. Borrow as much money and declare bankruptcy. So what all your debt will be forgiven and u just fly the money to some Swiss bank.

I wanna be your customer. That's real advice instead of pressuring people to buy a RRSP they firmly believe in and then have it fail in 5 years.

[forthewinwin]

Wow, guess I shouldn't feel guilty about my student loan 0_0

[DaleCooper]

Oh I don't know like in your own place as most mature adults do.

Well, if you didn't fail at reading basic English, you would probably understand that I actually own property.

[aplayaz2000]

hockey players make like min around 300K a yearly contract

so 50K isn't much

[Forhad]

Take me with you ;) I need money too.