Multiple Credit Card Debt and Loans

Hi AttyLLL,

2 questions please,

Scenario 1:
Someone has a good credit history and reputation at financial institutions. This person thus have multiple credit cards and being offered unsecured loans. At some point she thinks of using all the cards and defaulting to it. she will not change home address. Is she punishable for estafa? What would be her worst case scenario?

Scenario 2:
A person having multiple credit card debts but a good payer. Now, wanting to pay all of her debts using an unsecured loan offer, then would wish to default. She will not change home address. Does she have a case?

Regards & God Bless.

1) if those facts can be proven, that is estafa and credit card fraud because there was an intent to never pay from the beginning. though it will be hard to prove, the collectors will make your life hell.

2) unless she is made to issue checks (which is common), it will be difficult to file criminal charges against her but a case for collection can prosper.

I see... going back to scenario 2.

Unsecured loans are common nowadays if you are of good credit standing. They would keep on offering you and convincing you to get the loan. Unsecured like no collateral nor checks involved. They would just bill you at home.

You know Atty, I am a victim of estafa, I'm so mad with the Law and with the current system for in reality the victims ourselves lose both ways and you know that. That's why I'm resorting to this. Although I am sacrificing my credit ranking at least this would clear me out of debt on 6 banks and just 1 bank hunting me.

As always, thanks for your advise.