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re: Indian H1b has to leave, but has 140k+ in debts
Posted on 6/6/26 at 6:30 am to HubbaBubba
Posted on 6/6/26 at 6:30 am to HubbaBubba
quote:
Just tell the creditors tough shite?
Yep. We don't have debters prisons. Someone approved all of those loans and cards. The lenders don't lose anything. They write off the loss and raise rates. What's surprising is that he didn't have a $500k mortgage or $80k car loan, too. But that is secured debt and would simply be foreclosed and repoed.
Posted on 6/6/26 at 6:38 am to HubbaBubba
I thought the whole reason for H1Bs is because they are smarter than us.
Posted on 6/6/26 at 6:44 am to John somers
Imagine how dumb you have to be to lose that much money “day trading” in a raging bull market
Posted on 6/6/26 at 6:49 am to HubbaBubba
There will be a lot of this, and lenders stupid enough to lend to these people will take the loan losses. Look at what happened to Tricolor, whose brilliant business model was making auto loans to illegal aliens.
Posted on 6/6/26 at 6:52 am to HubbaBubba
quote:
So, he went chapter 7 and was hiding money from the courts that could have been used to pay down his debt.
That’s not what your posted excerpt shows. He is worried about filing Chapter 7 because they might discover those transfers and try to claw them back.
Posted on 6/6/26 at 7:18 am to tigerfan 64
quote:
Looks like he racked up $75k in credit debt in the last 4.5 months. He knew he was going to get deported and abused the system.
Yep, sounds like fraud to me.
Posted on 6/6/26 at 7:20 am to HubbaBubba
The H1B program should be shut down and every last one deported.
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