Comment on Crypto genius
Sotuanduso@lemm.ee 6 months agoWell, not exactly. The debt is still there, they just can’t force you to pay it. Exceptions apply, like student loans, and I they can probably still claim property in the case of bankruptcy or inheritance.
Also your credit score is going to tank hard.
ericbomb@lemmy.world 6 months ago
After 7 years it falls off your report, so if he’s in jail for 7 years he’ll have an empty credit score at the end.
Entertainmeonly@lemmy.blahaj.zone 6 months ago
Not empty just extremely low. Low is worse then nothing. Good luck getting any credit after this. Then again, if the crypto actually grew, it may not matter. You would need at least half a million in profit to be worth all the effort of this scheme. Still only making about 70k a year at that level. Assuming you did 7 years and didn’t have to pay anything like prison rent. Seems like a bad investment.
A7thStone@lemmy.world 6 months ago
Low is not worse than nothing with credit. Low credit means you exist. When you have no credit score everyone starts to question if you even exist. I may have personal experience with that.
Chickenstalker@lemmy.world 6 months ago
> prison rent
Yank moment