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Title: Has anyone successfully baked a BTC-shaped pie? Post by: nutildah on April 08, 2015, 09:56:21 PM Edit: turns out the answer was "yes"
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: countryfree on April 08, 2015, 10:03:19 PM What are you trying to do? It's certainly possible to hide some money with BTC but that won't change your debt.
About your salary being paid in BTC, don't think about it, it would not work. Your employer will keep you on its payroll, so nothing would change. There are many ways to hide money, but you can't hide a salary from a regular job. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: chmod755 on April 08, 2015, 10:09:13 PM I don't live in the U.S. but usually a collections agency is allowed to take most of your property if you can't pay so it doesn't really matter. They won't simply give up just because you're out of money they'll just take your car or anything else.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: 12345mm on April 08, 2015, 10:15:12 PM sell everything you own / borrow as much money as you possibly can , empty your fiat currency account(s) , convert all your available currency into bitcoin through anonymous means (in person cash for bitcoin) , mix it thoroughly and put it on a flash drive , then declare bankruptcy or expatriate from the country , and then convert bitcoins back into fiat currency through anonymous means ... btw what i am suggesting is *highly* illegal and would constitute committing bank/credit fraud ... but it would fix your money woes ... so ... depending on just how desperate your situation is ... might be worth it ...
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Bit_Happy on April 08, 2015, 10:21:26 PM You also have the option of a fully legal bankruptcy, but they might end up taking a % of your current income. Talk to an expert since you might shave a big chunk off of your debt.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: byt411 on April 08, 2015, 10:24:56 PM If you really want to hide your money with Bitcoin, your best bet would be to find a Bitcoin ATM without KYC/AML compliance (not sure if that even exists in your country) and transfer the money into Bitcoin. That way, they can't get your money. However, I'm not sure if this is even legal or not, so it's up to your own jurisdiction.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: raywillet on April 08, 2015, 10:28:45 PM You also have the option of a fully legal bankruptcy, but they might end up taking a % of your current income. Talk to an expert since you might shave a big chunk off of your debt. Federal student loans are exempt from bankruptcy. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: jonald_fyookball on April 08, 2015, 11:14:29 PM I don't live in the U.S. but usually a collections agency is allowed to take most of your property if you can't pay so it doesn't really matter. They won't simply give up just because you're out of money they'll just take your car or anything else. I thought even a collection agency has to sue you in a court of law and obtain a judgement against you before they could actually take anything from you. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Bit_Happy on April 08, 2015, 11:17:47 PM You also have the option of a fully legal bankruptcy, but they might end up taking a % of your current income. Talk to an expert since you might shave a big chunk off of your debt. Federal student loans are exempt from bankruptcy. Sounds like a problem, thanks for the correction. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: frankenmint on April 08, 2015, 11:24:21 PM okay so here's your problem: As soon as a judgement is made to garnish your wages, it will then become a liability of your employer, NOT you, to repay the money. It doesn't matter if you have your check paid out in BTC or not, they will still work with your employer to deduct (usually around 20%) of your paycheck to meet legal garnishment obligations.
Do NOT approach your employer to pay you in BTC if you know that your primary intention is to simply dodge paying the loan. Now, its okay to ask him to pay you in BTC if that's indeed what you really want, but if you tell him that you're doing this to dodge debt obligations, He may get scared and decide to let you go if he's fickle about it. You may be an awesome employee, but some people are iffy like that and he may fire you to simply get around having to deal with it. What state do you live in? You may have legal remedy. https://www.tuition.io/student-loan-help/how-to-guides/how-to-lodge-a-complaint-against-your-student-loan-servicer/ hth Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: plasma1010 on April 08, 2015, 11:42:11 PM I don't live in the U.S. but usually a collections agency is allowed to take most of your property if you can't pay so it doesn't really matter. They won't simply give up just because you're out of money they'll just take your car or anything else. Where do you live in Nigeria or something ? The US debt is trillions of dollars over the GDP, it's impossible to pay back. Debt collections and student loans companies are just floating as long as they can, and it's pretty rare to have anything other then 15% of your pay deducted, and even that is under worst case scenarios if you are actively avoiding even the slightest contact or payments of your debts. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: MF Doom on April 08, 2015, 11:45:17 PM I believe there was an article about people hiding their money in btc when going through divorces. Sounds like you could "hide" yours too if you really wanted to
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on April 08, 2015, 11:55:10 PM sell everything you own / borrow as much money as you possibly can , empty your fiat currency account(s) , convert all your available currency into bitcoin through anonymous means (in person cash for bitcoin) , mix it thoroughly and put it on a flash drive , then declare bankruptcy or expatriate from the country , and then convert bitcoins back into fiat currency through anonymous means ... btw what i am suggesting is *highly* illegal and would constitute committing bank/credit fraud ... but it would fix your money woes ... so ... depending on just how desperate your situation is ... might be worth it ... I like this, but my problem isn't that serious. I know somebody who owes $140k in student loans and somehow it doesn't upset them at all; they've been racking up & evading for over 20 years. Oh, and they have no intention of paying it back. okay so here's your problem: As soon as a judgement is made to garnish your wages, it will then become a liability of your employer, NOT you, to repay the money. It doesn't matter if you have your check paid out in BTC or not, they will still work with your employer to deduct (usually around 20%) of your paycheck to meet legal garnishment obligations. Good to know... You're right, he probably wouldn't want to take on the extra hassle or responsibility. I thought even a collection agency has to sue you in a court of law and obtain a judgement against you before they could actually take anything from you. You are correct. Thanks everyone else for the tips. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: chmod755 on April 09, 2015, 12:07:38 AM Where do you live in Nigeria or something ? The US debt is trillions of dollars over the GDP, it's impossible to pay back. Debt collections and student loans companies are just floating as long as they can, and it's pretty rare to have anything other then 15% of your pay deducted, and even that is under worst case scenarios if you are actively avoiding even the slightest contact or payments of your debts. No, I live in Europe. How exactly is the U.S. government debt related to this thread? Collections agencies usually sue people if they don't pay (at least if the amount is significant - I guess OP would try to hide it if it wasn't) Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Kazimir on April 09, 2015, 12:10:09 AM Irrelevant. The idea of Bitcoin is not to evade collection agencies, the idea is to avoid banks, financial institutions, or other now-obsolete 3rd party middle men, who have been charging us ridiculous fees for shitty service, without adding of created any actual value.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: chmod755 on April 09, 2015, 12:17:29 AM Irrelevant. The idea of Bitcoin is not to evade collection agencies, the idea is to avoid banks, financial institutions, or other now-obsolete 3rd party middle men, who have been charging us ridiculous fees for shitty service, without adding of created any actual value. Your post is offtopic. Bitcoin doesn't require financial institutions, but doesn't exclude them either. OP: I suggest you find a way to settle this - trying to hide it may end up being more expensive and will definitely do more damage to your credit score. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on April 09, 2015, 12:34:48 AM Irrelevant. The idea of Bitcoin is not to evade collection agencies, the idea is to avoid banks, financial institutions, or other now-obsolete 3rd party middle men, who have been charging us ridiculous fees for shitty service, without adding of created any actual value. My student loan has been bought and sold by so many third parties, you can bet somebody's gonna shell out for a 4th party collection agency by this point. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Blazr on April 09, 2015, 12:37:08 AM In some parts of the world if you do not pay back the debt the debt collector can seize any property from you. In the uK debt collection agencies send out bailiffs to the debtors house to collect any property that might be worth something, like cars, computers, furniture, jewellery, which will be auctioned off for roughly 50% of it's value and paid off against the debt. I assume this could extend to Bitcoin. You cannot prevent the Bailiffs from entering your house, if you do they will call the police who will try and force their way in. And you have to pay the Bailiffs a fee too which is automatically added onto the debt. They can also come back as many times as they want. This might seem bad but it isn't as bad as other parts of the world like South Korea where the debt collector can literally just show up at your door and break your legs if you don't pay up.
I'd say it may be possible to hide your money with Bitcoin. If you don't give up the password, there isn't a whole lot they can do about it. Though I strongly advise against doing this as it's almost certainly illegal, though I am not an expert on law or anything. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Ron~Popeil on April 09, 2015, 12:45:58 AM In some parts of the world if you do not pay back the debt the debt collector can seize any property from you. In the uK debt collection agencies send out bailiffs to the debtors house to collect any property that might be worth something, like cars, computers, furniture, jewellery, which will be auctioned off for roughly 50% of it's value and paid off against the debt. I assume this could extend to Bitcoin. You cannot prevent the Bailiffs from entering your house, if you do they will call the police who will try and force their way in. And you have to pay the Bailiffs a fee too which is automatically added onto the debt. They can also come back as many times as they want. This might seem bad but it isn't as bad as other parts of the world like South Korea where the debt collector can literally just show up at your door and break your legs if you don't pay up. I'd say it may be possible to hide your money with Bitcoin. If you don't give up the password, there isn't a whole lot they can do about it. Though I strongly advise against doing this as it's almost certainly illegal, though I am not an expert on law or anything. Wow. I don't use debt except for my mortgage but I would love to see these "bailifs" try that in the US. We have car recovery agents assaulted and even shot at times. I guess we have differeing opinions on private property and owership here. To the original question, put your coins in a paper wallet and hide it well. Then wipe the hard drive on the computer you used to generate the wallet. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: ebliever on April 09, 2015, 01:10:07 PM What is the right thing to do? You voluntarily incurred a debt. Don't let it be on your conscience or your record by trying to weasel or rationalize a way out of it. Better to be poor and of good character than evade the debt and carry the weight of sin thereafter, not to mention any other consequences.
I understand about the frustration of carrying debt for an unused degree; I've still got five years payments to make on my (stay at home) wife's degree. But whether it was useful or not is irrelevant. It's not the lenders fault if we buy something on credit and it winds up sitting around the house unused. And while I fault the "education" industry for over-selling its wares, it's still a choice people make for themselves in the end. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Amph on April 09, 2015, 03:18:29 PM it depends on the amount to be honest, for small amount, they will not track back you(tracking back someone for evading isn't free, it cost money, they can't do it everytime)
for big amount i'm waiting this year(june for taxation up to september) to see if i succeed in evading taxes or not lol, i know it's stupid, but bitcoin isn't regulated here and i don't want to pay taxes for this Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: AdotBdot on April 09, 2015, 03:37:16 PM Wow, America really is a horrible place in terms of laws, politics and freedom.
In the UK we have to earn a a certain amount and only then do we begin paying back our student loans which just comes off our salary as income tax. Anything not paid off after 25 years is just written off. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: btcbug on April 09, 2015, 03:51:49 PM Just do what the government does to pay off their debts... buy and machine and print the money! ;D
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: btcbug on April 09, 2015, 04:00:45 PM I say just wait it out. The US student loan bubble should be bursting anytime now, and it will make the sub-prime mortgage bubble look like a rainy day. Banks can take houses back to recuperate some of their losses, but they won't be able to take all those educations back and re-sell them. Sooner or later they'll have to start cancelling substantial amounts of the student loans they've been fraudulently issuing for all these years. I agree. Don't even think about paying off the whole debt. Focus on just making the absolute minimum, preferably before they start garnishing your wages and making this a legal hassle. If they wanted to, they could use this against people as a way of restricting their travel. Don't let it get to that point. Hopefully you can pay the minimum and still get by financially, then in a few years this whole thing will blow up and you might have better options. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: bryant.coleman on April 09, 2015, 04:37:19 PM Although I haven't heard of any incidents in which Bitcoins were used to evade the collections agencies, this comes quite close:
http://www.dailymail.co.uk/news/article-2646995/Divorcing-spouses-use-Bitcoin-hide-wealth-estranged-partners-court-battles.html http://www.coindesk.com/divorcee-hide-assets-bitcoins/ Lol... Bitcoin is in its infancy... Within the next few years, we are going to discover many such uses of the BTC. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on April 09, 2015, 07:00:27 PM I say just wait it out. The US student loan bubble should be bursting anytime now, and it will make the sub-prime mortgage bubble look like a rainy day. Banks can take houses back to recuperate some of their losses, but they won't be able to take all those educations back and re-sell them. Sooner or later they'll have to start cancelling substantial amounts of the student loans they've been fraudulently issuing for all these years. I agree. Don't even think about paying off the whole debt. Focus on just making the absolute minimum, preferably before they start garnishing your wages and making this a legal hassle. If they wanted to, they could use this against people as a way of restricting their travel. Don't let it get to that point. Hopefully you can pay the minimum and still get by financially, then in a few years this whole thing will blow up and you might have better options. I tried sending them nominal payments, but they will only accept the monthly payment in full as "payment," and each one is over $500. I just can't afford that, and they won't work with me to reduce the payment amount. So even if I sent them a check for $499, it wouldn't stop me from going into default. The truth is, a lot of us got scammed when we were younger. Nobody told us to know better, but we were promised this bright, prosperous new economy in which anything was achievable "if you put your mind to it." The newer generation is getting screwed even harder now, and their degrees will be worth even less. A lot of the money goes to the administrators and regents who want to live like rockstars off the backs of poor, naive kids. I don't really think I became a real adult until after age 27... Your brain isn't finished developing until age 24... Taking financial advantage of people younger than that just isn't right, especially when it comes to something like education. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: jjacob on April 10, 2015, 01:21:40 AM Wow, America really is a horrible place in terms of laws, politics and freedom. In the UK we have to earn a a certain amount and only then do we begin paying back our student loans which just comes off our salary as income tax. Anything not paid off after 25 years is just written off. That sounds like a recipe for disaster. You are shifting the risk of you not earning well to the bank? I wonder why banks would give education loans then. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: bryant.coleman on April 10, 2015, 03:00:34 AM Wow, America really is a horrible place in terms of laws, politics and freedom. In the UK we have to earn a a certain amount and only then do we begin paying back our student loans which just comes off our salary as income tax. Anything not paid off after 25 years is just written off. Nothing is "written off". By saying "written off", the bankers mean that the burden is transferred from a person to someone else. If the banks write-off a large part of their loans, then the remaining will become prohibitively expensive for us. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: lucullus on April 10, 2015, 03:40:39 PM I don't live in the U.S. but usually a collections agency is allowed to take most of your property if you can't pay so it doesn't really matter. They won't simply give up just because you're out of money they'll just take your car or anything else. I thought even a collection agency has to sue you in a court of law and obtain a judgement against you before they could actually take anything from you. Right? ??? :-\ Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on April 10, 2015, 08:30:56 PM I tried sending them nominal payments, but they will only accept the monthly payment in full as "payment," and each one is over $500. I just can't afford that, and they won't work with me to reduce the payment amount. So even if I sent them a check for $499, it wouldn't stop me from going into default. Hmm, looks sketchy to me. Creditors will often do illegal things just assuming that the debtor won't go legal on them. They might be legally obligated to do a financial hardship reduction in your monthly payment if your income is below a certain level. That payment seems really high. It might be worth $50 bucks for a 30-minute consultation with a lawyer to look into this, or you could start by posting on a free legal advice forum. (even bitcointalk has a legal forum you might try there). The problem is, the cost of living here is incredibly high and my job pays a mediocre salary. When you add in other bills, payments and repayments (and I don't even have a car), I barely have enough money for frozen burritos at the end of the month. The reason why they won't negotiate the monthly payment down, they claim, is because I already used up my deferrals and forbearance. But thanks for the advice, you are right, it will probably come to that point pretty soon. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: oldbute on April 10, 2015, 09:32:28 PM I think I would stop making any payments, use your money for living expenses, it's already in collections anyway. Be suspicious of what collection agencies tell you. They say anything to get any amount of payment, they most likely bought the debt at a discount and want to get what they can. They will have to sue and get a court order to garnish your wages or take anything from you. Sounds like you don't have any assets to take and if you are barely making living a wage garnish maybe a lot cheaper than $500/month. Who knows maybe they won't bother with courts and just write it off. Not paying debt is not illegal, creditors take risk when borrowing money. Part of that risk is they might not get paid back. Definitely take this with grain of salt and talk to lawyer though.
"If you default on a federally-insured student loan, the Department of Education can garnish up to 15% of your disposable income without a court judgment. State and federal tax authorities also may undertake collection remedies without first going to court." http://www.nolo.com/legal-encyclopedia/what-unsecured-debt.html Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: gentlemand on April 10, 2015, 10:13:08 PM Wow, America really is a horrible place in terms of laws, politics and freedom. In the UK we have to earn a a certain amount and only then do we begin paying back our student loans which just comes off our salary as income tax. Anything not paid off after 25 years is just written off. That sounds like a recipe of disaster. You are shifting the risk of you not earning well to the bank? I wonder why banks would give education loans then. In the UK tuition fees for college and university are a very recent development. When I was a nipper university was free and they gave you free money to live on. Our education loans aren't provided by conventional banking channels. They're backed by the government who probably fully expect a large proportion to never get paid back. As for the OP's dilemma, it's going to be a toughie to slip into crypto without leaving a paper trail somewhere. Cash into ATMs would work. Lamassu ATMs come with ID verification disabled. I think it would depend on what state you're in. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: ajareselde on April 11, 2015, 12:55:59 AM @OP I dont know what are the laws in your country, but in whatever form you recieve your paycheck, one part of it (depending on local laws, here its 30%)
has to be paid out to debt claiming previous to releasing the rest to you. So what it means is that, even tho you can possibly be paid out in btc, you probably cant take your whole paycheck because it is on your boss to pay the penalty if they see by records that you are working and getting paid, and he isnt sending them part of your pay. On the other hand, im in a position where all my accounts within my country are blocked due to debts, but i found a way to still do my bussines through foreign banks, that are not affected by any limitations. But if i am to be hired by local bussiness owner, he would still have to cut a part of my paycheck for debt collection. cheers Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: ArticMine on April 11, 2015, 02:43:28 AM IANAL. In these situations legal advice is strongly recommended.
The critical difference here is that a wage garnishment is typically limited to 20%-30% of the take home pay while a bank account garnishment can go up to 100% of the funds on deposit. So if the employer pays in Bitcoin or Cash the creditors are limited to the 20%-30%; however if the employer deposits the wage into a bank the creditors can get 100% of the wages by a bank account garnishment. The other thing to keep in mind is that collection agencies typically go after the easy assets and that one of the purposes of collection calls is to try to get the debtor to reveal information about his or her assets or sources of income. For this reason anyone who is afraid of creditors would avoid the banking system and stick to cash and crypto-currency unless they go into bankruptcy or some kind of creditor proposal. There is a reason for the popularity of cheque cashing stores. There is also the question of practicality it is way cheaper for a creditor to get a bank account garnishment than to get the courts to force a debtor to reveal a Bitcoin private key. One of the advantages of having some XBT in this kind of situation is that the XBT can be used to pay for legal advice, particularly as is often the case when collection agencies step on the wrong side of the law. Edit: The choice between Bitcoin and a bank account in this situation could easily be between the creditors getting 30% of take home pay or the creditors getting 100% of take home pay. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: btreehouse on April 11, 2015, 10:10:28 AM frankenmint okay so here's your problem: As soon as a judgement is made to garnish your wages, it will then become a liability of your employer, NOT you, to repay the money.
--- I think you stated that wrong, the liability still is with the borrower. The employer is just the group in between the situation and ordered to garnish the wages. If that the employee quits and works somewhere else, that liability follows that employee. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: oblivi on April 11, 2015, 03:56:12 PM As far as I know your best bet for this is LocalBitcoins and meeting locally (in person) with trusted sellers and exchange the BTC for cash, so no extra information is needed.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: 687_2 on April 11, 2015, 07:21:04 PM Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Yes I made a nominal payment to try to reset the 270-day rule (turns out they only accept the monthly payment in full as criteria for "payment" -- I'm not sure if this is legal or not). Yes, whether you pay $0 or $499.99 on a $500 note, you're in default. So I quickly do some research and find out that not only can student loan collection agencies garnish your wages with a court order, but they can also freeze/empty your bank account and take back any tax refund money you might have. Yes So my question is, how feasible is it to use cryptocurrency should I have to hide money from these debt collectors? The US is #1 in the world for money laundering (serious). Delaware C-corps and Wyoming and Nevada LLCs. How do you think the CIA moves all that money around for their black ops, and why do you think it's called "the company"? Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: theskillzdatklls on May 12, 2015, 03:38:16 AM i would seriously just consider switching countries, converting what you have into btc and cash, moving somewhere more btc friendly and starting over there.
i know a friend that had a situation nearly identical to you and did something along the lines of what i just said. he couldn't be happier. if you can mature past this irrational attachment to your country and rural area, your life conditions will improve. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: QuestionAuthority on May 12, 2015, 04:37:23 AM You need to talk to a consumer credit counseling service in your state. They can help you work it out and sometimes can negotiate a lower payment or extended time to pay.
http://www.consumercredit.com/financial-education/student-loans/repaying-overview.aspx Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: louise123 on May 12, 2015, 06:55:12 AM sell everything you own / borrow as much money as you possibly can - FROM BANKS , empty your fiat currency account(s) , convert all your available currency into bitcoin through anonymous means (in person cash for bitcoin) , mix it thoroughly and put it on a flash drive , then declare bankruptcy ^^^That. Or you can stay there and continue being fucked for the rest of your life. And now that I mention it, you do realize that you only got one life right? There is no afterlife, so it is up to you how you want to spend/waste/live your life. ;) PS: You are experiencing what I call "modern day slavery" Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: e1ghtSpace on May 12, 2015, 07:59:13 AM sell everything you own / borrow as much money as you possibly can - FROM BANKS , empty your fiat currency account(s) , convert all your available currency into bitcoin through anonymous means (in person cash for bitcoin) , mix it thoroughly and put it on a flash drive , then declare bankruptcy ^^^That. Or you can stay there and continue being fucked for the rest of your life. And now that I mention it, you do realize that you only got one life right? There is no afterlife, so it is up to you how you want to spend/waste/live your life. ;) PS: You are experiencing what I call "modern day slavery" And now with self driving cars and new cars that will fine you if you speed! Our world is so corrupt, the government is trying to find new ways to take our money. Even though the money is actually just debt. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on May 13, 2015, 08:33:57 PM PS: You are experiencing what I call "modern day slavery" Yep, tell me about it... At least I don't have kids and a 30-year mortgage, yet... I can't even afford to be fucked over by owning a car. You need to talk to a consumer credit counseling service in your state. They can help you work it out and sometimes can negotiate a lower payment or extended time to pay. http://www.consumercredit.com/financial-education/student-loans/repaying-overview.aspx Thank you, I will look into this. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: cellard on May 13, 2015, 08:39:34 PM I don't think its possible to do what you pretend to do unless you are converting all of your fiat using LocalBitcoins and meeting up with people IRL. If you use regular exchanges you give way too much data.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: BADecker on May 13, 2015, 10:47:18 PM Before they do anything that hurts, they will have to take you to court. Watch for their paperwork, and then meet them in court. Go without an attorney - without being represented - and not pro se (representing yourself). Rather, let them know you are present.
Acknowledge all the debt, but tell them that your offer is that you can only afford $30 (or whatever) a month payments. If they turn you down on that, they haven't accepted your offer. They lose. If they accept your terms, don't let them change your offer by 1 penny, up or down. If you do, it will appear that you have lied about what you can afford, and they will be able to rake you over the coals. In all of this, be as humble and friendly and embarrassed about the situation as you can, especially in court. It will make a good impression. Listen to Karl Lentz on Angela Stark's Talkshoe. There's lots of good info there about how to handle yourself in court, and in the letter-writing that you should do preceding it. http://www.myprivateaudio.com/Karl-Lentz.html :) Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: unholycactus on May 13, 2015, 10:56:26 PM I can tell you that it will be very hard to prove that you're committing fraud, which is extremely helpful with this type of case.
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: bitcoinwhoswho on May 14, 2015, 12:47:48 AM Whatever you do don't use the bitcoin address you posted on your profile to try to hide anything
1BE4Kb6Hp8QxK5AeYAbov734VXHmRMvJja Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: iluvpie60 on May 14, 2015, 01:23:47 AM Back in my naive days, when I actually thought having a degree meant something, I managed to accrue a significant student loan debt, mostly from the out-of-state graduate school (that I did not even graduate from). The plan always was to get a good enough job via the degree that would eventually help me repay the student loan. Fast forward 12 years: I am near-broke with a below-average salary job and a couple extra grand built up in interest on the loan. The loan agency will not make any deals with me to reduce the monthly payments, so basically I can either make my loan payment _or_ have food and a roof above my head. Today I received a call from the agency (Aspire Resources) telling me I'm about to go into default, even though I made a nominal payment to try to reset the 270-day rule (turns out they only accept the monthly payment in full as criteria for "payment" -- I'm not sure if this is legal or not). So I quickly do some research and find out that not only can student loan collection agencies garnish your wages with a court order, but they can also freeze/empty your bank account and take back any tax refund money you might have. So my question is, how feasible is it to use cryptocurrency should I have to hide money from these debt collectors? I can't pay my bills in bitcoin, and if bitcoin should drop down to $20 per BTC, then I might as well just have handed over the money to these weasels in the first place... Don't think the property manager will accept BTC either for rent - he's at least 70 years old. My boss on the other hand is quite tech savvy and I'm sure I could request to be paid in bitcoin. The problem then becomes, can wages denominated in BTC also be garnished? Hard to say since its currently classified as "property" by the IRS. I live in a remote area which hardly even knows or much less understands bitcoin. Has anyone here been in this situation before? Your thoughts on the matter are appreciated. Thanks from a broke ex-neuroscientist. So you said a degree isn't worth anything, but then you say 12 years later you aren't making much money??? So it sounds like you graduated with a bachelors in something, but dropped out of a Masters program? I gotta tell ya, you have to do your own due diligence on everything. I specifically chose my degree of Information Systems because the world is turning to analysis on everything with someone smart enough to make good decisions to save businesses money(Example would be to produce more of something at once to drive the cost down and figure seasonality of the item and how much volume it will realistically have). If I didn't have a degree I would be fucked. I would not have a job, my girlfriend probably would have left me for not having a job that is better than working at Staples as a sleazy tech. My life would be stupid, I wouldn't be able to afford almost anything, probably have to live with my parents(unless I worked 2 jobs). If I worked 2 jobs then I have no life/no hobby/no fun. If you really want to get the most out of life you have to look into where the demand on something is, like degrees. You can't trust almost anyone who has an older way of thinking "just get a degree in some science thing that sounds good, people love science n stuff you will get a job". You need real data, and the government provides forecasts and growth estimates if you go to bls.gov or something like that. And how is being a neuroscientist not higher than average paying??? I am pretty sure that field is EXPLODING as more and more money is being thrown at figuring out things in that field. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: Amph on May 14, 2015, 07:01:39 AM I don't think its possible to do what you pretend to do unless you are converting all of your fiat using LocalBitcoins and meeting up with people IRL. If you use regular exchanges you give way too much data. what about using stuff like all4btc or buying with bitcoin without dumping? you scould evade pretty easy taxes collection they could track(and it would not be easy) only if the amount i very large Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: plasma1010 on June 03, 2015, 10:21:42 PM In some parts of the world if you do not pay back the debt the debt collector can seize any property from you. In the uK debt collection agencies send out bailiffs to the debtors house to collect any property that might be worth something, like cars, computers, furniture, jewellery, which will be auctioned off for roughly 50% of it's value and paid off against the debt. I assume this could extend to Bitcoin. You cannot prevent the Bailiffs from entering your house, if you do they will call the police who will try and force their way in. And you have to pay the Bailiffs a fee too which is automatically added onto the debt. They can also come back as many times as they want. This might seem bad but it isn't as bad as other parts of the world like South Korea where the debt collector can literally just show up at your door and break your legs if you don't pay up. I'd say it may be possible to hide your money with Bitcoin. If you don't give up the password, there isn't a whole lot they can do about it. Though I strongly advise against doing this as it's almost certainly illegal, though I am not an expert on law or anything. Wow. I don't use debt except for my mortgage but I would love to see these "bailifs" try that in the US. We have car recovery agents assaulted and even shot at times. I guess we have differeing opinions on private property and owership here. To the original question, put your coins in a paper wallet and hide it well. Then wipe the hard drive on the computer you used to generate the wallet. Haha yeah ... show up to my place in the boonies and try to take my property without a court order. I forgot the rest of the world is a bunch of unarmed pansies. Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: blablaace on June 03, 2015, 11:30:01 PM it would certainly be easy enough to convert fiat to btc then declare bankruptcy .. or evade a court order seizing your assets by buying bitcoins
Title: Re: Has anyone successfully evaded collections agencies by exchanging fiat into BTC? Post by: nutildah on June 04, 2015, 12:06:02 AM Before they do anything that hurts, they will have to take you to court. No, they don't. http://www.nolo.com/legal-encyclopedia/if-wages-are-garnished-rights-33050.html Wage Garnishments for Student Loans The U.S. Department of Education (or any agency trying to collect a student loan on its behalf) can garnish up to 15% of your pay if you are in default on a student loan. No lawsuit or court order is required for this type of garnishment; if you are in default, your wages can be garnished. Haha yeah ... show up to my place in the boonies and try to take my property without a court order. I forgot the rest of the world is a bunch of unarmed pansies. Then the next day you get shot dead by ATF agents. That is the realistic outcome of your fantasy. |