[burtonridr]

So my thinking is that if you have credit problems and are in default, who cares? can they banks do anything? Can the government? Unless you have a lien on the your car or home or something, I dont think there is much they can do besides shake their finger and kick and scream. What happens? They sell the loan to a collection agency and they destroy your credit, but if you plan to be totally self reliant in a few years who cares. dont get me wrong, I have good credit, I believe if you borrow something you should pay it back. However, Im faced with a decision; either keep paying on my loans until I cant any longer because the economy crashes, or stop making payment and start saving $667 a month and use it to buy gold and silver so I can use it to buy a home out right when the economy goes to shit. Really having good credit is only a good thing if you intend to use it, right?

Is there something I dont know? will something horrible happen if I were to do that? I really dont know, it just crossed my mind this morning.

[threadbear]

They can take your home from you, now that the bancruptcy laws have changed.

[smiley]

"What the hell, they are not going to care."

Bet Faust thought the exact same thing about Mephistopheles

[burtonridr]

$this->bbcode_second_pass_quote('threadbear', 'T')hey can take your home from you, now that the bancruptcy laws have changed.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('burtonridr', '
')Smiley, i dont understand what you were trying to say..

[smiley]

Hmm......... something went pretty wrong there. Computer is starting to revolt on me.

$this->bbcode_second_pass_quote('', 'j')ust making a witty Europoint I suppose. But if/when it all comes crashing down, Mephistopheles will be laughing.

[burtonridr]

$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('burtonridr', '
')Smiley, i dont understand what you were trying to say..

[smallpoxgirl]

$this->bbcode_second_pass_quote('burtonridr', '')$this->bbcode_second_pass_quote('threadbear', 'T')hey can take your home from you, now that the bancruptcy laws have changed.

[Bas]

as long as those evil foreigners don't call in the debt, everything is fine? (looking at the accounts though, it looks like developing countries are financing America's growing debt, how ironic )

[burtonridr]

$this->bbcode_second_pass_quote('smallpoxgirl', 'I')f all of your property is covered by your state's exemption laws, then you are what is called "judgment proof". It is the situation you described above. There's really not much your creditors can do. If you have property that's not covered by the exemption laws in your state, then the sheriff can seize it and give it to your creditors.

[smallpoxgirl]

$this->bbcode_second_pass_quote('burtonridr', 'S')o how would I find out if it exempt?

[burtonridr]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('burtonridr', 'S')o how would I find out if it exempt?

[smiley]

$this->bbcode_second_pass_quote('', 'B')urton (1992, p. 61) speculates on Greek elements that may have played a part in the coining of the name, including Greek mē "not", phōs "light" and philos "lover", suggesting "not a lover of light" in parody of lucifer. Variations in mephost- may be due to attraction by Latin mephitis "pungent", and Goethe's Mephistopheles may due to Hebrew tophel "liar".

[PenultimateManStanding]

$this->bbcode_second_pass_quote('smallpoxgirl', '
')There's really not much your creditors can do.

[burtonridr]

Another option, does anyone know what would happen if I were to move from here (US) to Canada? Can they legally still in force a debt in another country? Im guessing they can because we are so close to canada, but I may be wrong.

[smallpoxgirl]

$this->bbcode_second_pass_quote('burtonridr', 'I')daho

[smiley]

$this->bbcode_second_pass_quote('', 'T')he page says bankruptcy exemptions at the top, but the same exemptions are generally applicable to non-bankruptcy debtor law as well.

[smallpoxgirl]

$this->bbcode_second_pass_quote('smiley', 'I')f I interpret this correctly: unless you live in 50k shack, you're better off moving to Brazil and not leaving a forwarding adress.

[burtonridr]

Thanks Smallpox, sounds like that may work if I foreclose and move out of the country.

Anyone know if debt is carried over when you move out of the country (from the US to Canada)? Can they still enforce a debt if your in another country? Anyone know how Vancouver BC is? I like Sqaumish BC, it looks nice, its just north of Vancouver.

[DeLosMuertos]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('smiley', 'I')f I interpret this correctly: unless you live in 50k shack, you're better off moving to Brazil and not leaving a forwarding adress.