What would prevent someone with very good credit to take up on a few offers for loans (totaling around 100k) and rack up cash advance on credit cards (add 20k) and using the money to purchase a first house with a large down payment? Or buy an investment property?

...then declare bankruptcy later, call it even after a few months (just like a lot of people do, and they still do ok) and jump start my credit a couple of years down the road. 40yo here, worked a lot to have a good credit and a few thousand in the bank, but still struggling to own something substancial.

Submitted March 02, 2019 at 09:10AM by ghnunes2018 https://ift.tt/2GUxaPy