Question Need Advice

[Dave89]

I am thinking of taking a Home equity loan from a bank for 20,0000 to start my own business in foreign country. I need to transfer this money. I am not sure if I can pay loan back.

What are the things I need to secure if cannot pay the loan back and file bankrupt?

Can I transfer the full amount in one time or break in to small pieces?

Should I hire a lawyer?

What chapter should I file?

[BornAgain]

My advice is to tell the bank exactly what you've written here so they can best help you in your decision on whether or not to take out a loan.

As far as to what you need to secure -- I'd say you need to secure a solid framework of integrity.

[BKOnce]

Read a book... "How To Steal U.S Money$ in Offshoring Accounts"... They will tell you how to proceed succesfully & safe too.

[relief13035]

Am I reading this right??? You want to take out a loan - that you don't think you can pay back???

Who does that??? Here's your sign.

[dingdong]

Why don't you apply for a small business loan, with a business plan and let the bank decide whether they want to take a risk based on your experience and the solidness of your business plan?

If you did take out this loan, and the bank traced your expenditures of the loan to the business, and you didn't pay it back, then you try to discharge the debt, they will most likely reem you with an adversarial proceeding for fraud.

I don't think anybody here is going to tell you , much less encourage you to commit fraud.

[Minnymouth]

Dave89 is "pulling our leg" with his questions........LOL

He wants to commit "fraud" and have us tell him how to do it......
like we would......