What are practical downsides of taking out a loan or credit card

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Anonymous
2016-11-04 18:18:59 Post No. 1601466
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Anonymous 2016-11-04 18:18:59 Post No. 1601466 [Report]

What are practical downsides of taking out a loan or credit card in someone else's name?

Is this a good idea to make some spare cash?

Anonymous 2016-11-04 18:25:32 Post No.1601471
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Anonymous 2016-11-04 18:25:32 Post No.1601471 [Report]

You mean besides it being illegal?

Anonymous 2016-11-04 18:25:43 Post No.1601472
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Anonymous 2016-11-04 18:25:43 Post No.1601472 [Report]

>>1601466
Well the downsides are that you could be arrested and put in jail

Anonymous 2016-11-04 18:39:45 Post No.1601487
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Anonymous 2016-11-04 18:39:45 Post No.1601487 [Report]

>>1601471
>>1601472
Hmm.

And what are the upsides?

Anonymous 2016-11-04 18:46:46 Post No.1601492
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Anonymous 2016-11-04 18:46:46 Post No.1601492 [Report]

>>1601487
If you pay the loan back you might improve that other person's credit score.

Anonymous 2016-11-04 18:51:11 Post No.1601496
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Anonymous 2016-11-04 18:51:11 Post No.1601496 [Report]

>>1601492
What if I spend it and leave them with the bill ( and damaged score )?

Anonymous 2016-11-04 19:14:30 Post No.1601532
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Anonymous 2016-11-04 19:14:30 Post No.1601532 [Report]

>>1601466
You should ask a lawyer familiar with the applicable laws.

Anonymous 2016-11-05 00:01:41 Post No.1601832
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Anonymous 2016-11-05 00:01:41 Post No.1601832 [Report]

AHOY WHALE

Anonymous 2016-11-05 00:05:00 Post No.1601836
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Anonymous 2016-11-05 00:05:00 Post No.1601836 [Report]

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>>1601466
>What are practical downsides of taking out a loan or credit card in someone else's name?

Pic related

Anonymous 2016-11-05 02:11:04 Post No.1601972
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Anonymous 2016-11-05 02:11:04 Post No.1601972 [Report]

>>1601466
It's illegal

Also THICC

Anonymous 2016-11-05 02:33:43 Post No.1601995
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Anonymous 2016-11-05 02:33:43 Post No.1601995 [Report]

>>1601496
Then on of the nations largest credit card company hunts you down.

Anonymous 2016-11-05 14:56:17 Post No.1602449
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Anonymous 2016-11-05 14:56:17 Post No.1602449 [Report]

>>1601995
What if I live in Thailand?