Credit card limits to percentage of income

bigadaj

Simon7685 wrote: »

Slightly off topic and stretching the limits though it could be fun

Get 15 cards @ £10k each, with money transfers on, transfer all the cash over to a bank account. Go and buy a house for cash and then default on all the cards:D Six years later credit rating restored and a free house possibly furnished and paid for by the banks:rotfl:

PLEASE NOTE..........

:eek:THIS IS NOT A SERIOUS OR RECOMMENDED SUGGESTION MORE A JUST FOR FUN THOUGHT:eek:

It might funny if you could do it and get away with it though:rotfl:
Wonder if anyone has tried?:D

Sorry couldn't help it:o

Well done for emphasising the lack of seriousness for this suggestion, I did similar a while back primarily to show the potential anomalies between secured and unsecured lending. Cue a range of outraged responses, though I was having a very slow day working on a mine in Africa, well actually a Sunday off, that's my excuse anyway.

The banks could get charging orders but I think I used five grand in my analogy and wondered whether a range of lenders could force a house sale given that each debt was relatively low, didn't really find out in the end what could happen.