Sup /biz/. Long story short my dad is dying of terminal brain cancer in 6months. He has never really been there gor me and has pretty much nothing at all of value to pass on to me. Here's my question. If i were to open some credit cards in his name, in no way associate myself with the accounts, and use them to buy a bunch of shit for myself. What happens to the debt when he dies? Im 22 in cali if that matters. Have never really dealt with any sort of credit so i literally have no idea how it works .
How do they go about reposessing it if its all with me a few hundred miles away and i have no real connection to him? Or if i just sell it all for cash? Like i said he has literally nothing of value for them to take
what you are asking for is fraud.
and you will fail.
once he dies and debtors start going over his finances, they will immediately notice that a bunch of new accounts were opened and large purchases were made.
they will want to know why and where that shit went.
it wont take them long to figure out who dun it.
That's his way of getting the last laugh. Even if he genuinely doesn't care because he's dying, and even if he knows, it's still fraud in the eyes of the law.
And if you're discovered, which you more than likely will, the people who he owes money to will come after you if they find out you were an accomplice. On account of police too. So expect some jail time and hefty fines.
If you're not found out though? Well. Good job. Kind of a shitty way to remember your Dad though.
First it is fraud if you do this...
.... So say you do open the card and they are in his name. I suppose you will let the balance accrue and after which time they will go on his credit report. The credit card company will write it off and sell off the debt to a third part junk debt buyer... The junk debt buyer will try to collect and then file a lawsuit against your Father's estate. If there is nothing to collect they won't get shit.
So, basically... if he has nothing nothing will happen a while.
You could open the card in his name... and put yourself on as an authorized user.. Then be free to use the cards.. After major debt piles up ... All the while paying the minimum monthly balance to keep the card active... You can remove yourself as an authorized user on the card and (you will have a card linked to his account) and then the above process will take place.
Fuck Credit card companies and fuck junk debt buyers.. Sorry to hear about your Dad. I hope he is not in pain.
Lots of naysayers in here, but not one lawyer. I have preemptively gone to lawyers before and asked about certain topics if interest to me even though I was not in legal trouble. You must not speak about your intent to commit a future crime, but you just go in and make it clear that you are interested in an academic case study for hypothetical eductaional purposes only. The lawyer knows what's what, but he's protected from culpability. As I say, I've done this multiple times and just paid them for their hour and a half. It's worth it. It was very much worth it every time. And I went to different lawyers each time and EVERY one of them laughed good-naturedly at my proactive approach to hiring legal advice and one said to me that if everyone did what I did, and actually followed the advice they were given, prisons would be nearly empty. This is because there is a burden of proof on law enforcement. They can be goddamn sure of what crime you committed but if they can't prove it, you walk. They are going to have to prove your intent to commit fraud. Remember that they can access your Google searches and FB "private" messages
No. This is retarded. Stop giving advice on shit you know nothing about. Noone in any civilized country can collect a debt from someone who did not sign the borrowing agreement. They can go after the deceased's estate but OP has said that there is nothing at all in the estate.
>someone else inherits your dad's debt.
Hahaha no, just no.
NO ONE is responsible for any adults debt unless they are married and even then you may not be responsible unless you were a co-owner of the card (not AU).
Debt is not "inherited" you stupid dunce. The fuck is this? the medieval ages?
What will happen is the credit card company calling you or any of his close acquaintances trying to get money to settle his debt because "its what he would have wanted".
They will do this, and then, depending on how successful they are, sell the debt to a collection agency who will then pursue it further. But really, the worst they can do is sue your fathers estate and that wont happen for at least a year after he dies.
Basically, OP can easily do this but if he dad had like 500K worth of credit lines and he maxed them out, id expect something to happen. if its like 10k worth of stuff hed be a lot safer.
Also, im not sure how OP could get away with much more than 10-20k.
Youd have to do it slow, so it doesn't seem obvious but once the credit card companies start reporting the balances to the CB's the other card companies can get spooked and lower or close accounts because of "rapidly accruing debt"
On the other hand, if you went fast and maxed all cards before they reported at the end of the month then the card companies would have a strong case against you. Depending on how much it was theyd probably send an investigator to figure out who bought all the stuff and start getting evidence for a criminal case.
But you dont understand, you dont "inherit" debt.
You get something, or nothing at all.
You can also refuse to inherit things like property which may have a lien on it.
Any debt that you "inherit" would have to be made clear to you and you would have to sign on the dotted line saying "Yes, I am taking charge of this debt and am legally responsible".
His estate could be nothing, or maybe $500 in a bank account. You cant make blood from a rock. By the time anyone sues there should be nothing left.
The purchases with his credit cards would be used or hidden somewhere by the perpetrator well before any legal proceedings.
Also, they wont even sue if they know he has nothing or is next to worthless. Why waste expensive hours on a lawyer if you get literally nothing for it?
Again, debt is in no way shape or form inherited. Any debt taken on is a legal burden they you sign for knowingly. Which almost nobody does unless they are trying to keep a family business going or keep the house... etc..
Idiots - every one of you fags got it all wrong. credit card debt is unsecured. There's so way they can collect on the OP unless he consigns. An no chance they can repo goods that was bought and gifted. The comment from someone about the card company coming after OP with serial numbers is just retarded - last time I registered a flatscreen tv's serial number with my credit card company was... NEVER.
>Open credit card
>Use said credit card on Circle or Coinbase to buy bitcoin
>Transfer the coin to few address or a coin mixer
>Then transfer the coin to a wallet you will use
>Sell the coins on craigslist or localbitcoin
No one will know. You don't have to interact with anyone. No one will see you or know you.