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Started By
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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.
1
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.
Posted on 6/6/26 at 9:16 am to HubbaBubba
This piece of garbage stole from all of us, directly or indirecty
Posted on 6/6/26 at 9:17 am to dalefla
Creditors are screwed. That is what they get for loaning to a non-citizen.
Posted on 6/6/26 at 9:24 am to bbvdd
quote:And yet, if you read through the Reddit sub there are plenty of cheerleaders happy he's "sticking it to the man".
Yep, sounds like fraud to me.
Posted on 6/6/26 at 9:32 am to HubbaBubba
Should we be mad at the borrower? It’s not his fault that these lenders are dumb enough to allow him to run up six figures of unsecured debt knowing that there is a good chance that he could skip back to his country of origin.
I view this story as a good thing. If lenders learn that they cannot safely provide loans to H1B holders, they will stop doing so. That will dissuade more H1B applicants from coming here, because they won’t be able to acquire easy money. These are the kind of macro things that are much more effective than theatrical ICE raids.
I view this story as a good thing. If lenders learn that they cannot safely provide loans to H1B holders, they will stop doing so. That will dissuade more H1B applicants from coming here, because they won’t be able to acquire easy money. These are the kind of macro things that are much more effective than theatrical ICE raids.
This post was edited on 6/6/26 at 9:35 am
Posted on 6/6/26 at 9:40 am to mule74
quote:He's literally planned to rip them off. He would have to have lied about his financial wherewithal to get these credits. Do,votes, he's an intentional thief and we should all shun and denounce people like this. The fact that he returns to that shithole India and can never return is fine with me.
Should we be mad at the borrower? It’s not his fault that these lenders are dumb enough to allow him to run up six figures of unsecured debt knowing that there is a good chance that he could skip back to his country of origin.
quote:The only reason they may appear 'theatrical' is due to the histrionics of the paid agitators and paid professional protestors. Not due to anything ICE is doing.
These are the kind of macro things that are much more effective than theatrical ICE raids.
Posted on 6/6/26 at 9:43 am to ColoradoAg
quote:
Creditors are screwed. That is what they get for loaning to a non-citizen.
Bingo
Posted on 6/6/26 at 9:49 am to HubbaBubba
quote:
He's literally planned to rip them off. He would have to have lied about his financial wherewithal to get these credits. Do,votes, he's an intentional thief and we should all shun and denounce people like this. The fact that he returns to that shithole India and can never return is fine with me.
Sure. He’s a POS. As a lender I might think “is this person I’m giving money to a POS? Is there a chance that they will rip me off and run away to a country where I can’t pursue them?”
For instance, I might be more inclined to lend money to a naturalized citizen, that doesn’t hold a passport from any other country, that’s lived in the same house for 20 years. Good chance that guy is not going to run away.
This post was edited on 6/6/26 at 9:51 am
Posted on 6/6/26 at 9:53 am to HubbaBubba
quote:
The only reason they may appear 'theatrical' is due to the histrionics of the paid agitators and paid professional protestors. Not due to anything ICE is doing.
They’re not even maximally effective. Do you want to get rid of those people? Start punitively findings any employer that hires undocumented workers. Slap, massive fees and taxes on foreign remittances. You would kill the supply and the demand. The people that were here would leave, and the ones who wanted to come would not.
Posted on 6/6/26 at 10:04 am to notsince98
IMO it’s on the lender for being stupid enough to give unsecured loans for a term longer than the H1Bs immigrant Visa term since there’s no guarantee they can extend the timeframe or become a permanent resident
Terrible risk management
Terrible risk management
Posted on 6/6/26 at 10:06 am to deltaland
Yea it’s on the lender for sure on being stupid. No one should be lending to noncitizens.
Deport the H1Bs end the programs and let lenders learn to not make bad lending decisions
Deport the H1Bs end the programs and let lenders learn to not make bad lending decisions
Posted on 6/6/26 at 10:09 am to mule74
There are a lot of strategies that would be more effective than rounding up individual aliens à la Ice. We need ICE but financial solutions including holding employers responsible would be the real solution.
We shouldn't make it so easy for these aliens to get drivers licenses, SS numbers, banking, pubic services. We have basically rolled out a red carpet and it costs our country tax payers much prosperity.
We shouldn't make it so easy for these aliens to get drivers licenses, SS numbers, banking, pubic services. We have basically rolled out a red carpet and it costs our country tax payers much prosperity.
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