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hmmmm...Steven Katz owed $80,000 on his six credit cards


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Last August, he began his new life as an "international deadbeat" by buying a first-class one-way ticket to China—with his credit card, of course. Talking on the phone from his new three-bedroom apartment, he recalls how his wife and son met him in Beijing, handing him two collection letters that had already arrived at his new address. He opened them on the spot. "In the middle of the airport, I'm laughing my head off, and I just take one of them and wipe my butt with it."
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I am ALMOST speechless.....

 

Now let me get this straight....I used some of HIS methods and advice to regain my good credit and financial stability, and then HE flees the country?

 

WTF? Or am I missing something here?

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I am ALMOST speechless.....

 

Now let me get this straight....I used some of HIS methods and advice to regain my good credit and financial stability, and then HE flees the country?

 

WTF? Or am I missing something here?

you got it. he is as much of a scammer as dave ramsey.

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WOW all because he does not know how to properly fund a business? MAKE A FRICKING BUSINESS PLAN AND TAKE IT TO THE BANK TO GET A LOAN. DONT CHARGE A NEW VENTURE ON YOUR PERSONNEL CREDIT CARDS. THIS GUY WAS A CREDIT GURU? WHAT A <> MORON.

Edited by TrevorHere
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Good, let him stay in China.

 

I think he'll be in trouble if he decides to travel back to the U.S. or to any number of countries with extradition agreements. I've been to China and Hong Kong. It's not much cheaper than the U.S., with many things more expensive.

 

I wonder if he decides to do the same in China (borrow to the max with no intention of paying it back), what they do to people there.

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While it would seem he is a guy which many creditors would like to get and make an example of, why would anyone run to China to avoid repayment of $80k?? Many people who ultimately choose to tank their credit go out with a bang. Unless their are easily attachable assets involved more creditors than not write it off. Collectors while annoying and threatening, are just that. Even those who misrepresent to gain credit, while technically having violated some crime, are not actively pursued. If they started prosecuting people who fudged info on credit apps they would need to build a whole lot more prisons. Even ID thieves are not actively chased unless they are doing bulk business and screwing people on a volume basis. And splitting hairs over intent to repay or not is simply something that will be more seen as that grey area no one wants to bother with.

Perhaps I am not that familiar with this guy. But surely there has to be something more than a paltry $80k in debt chasing him to China. people and businesses go under every day and it's nothing for the to rack up 6 figures of debt in the process. If they end up with no liquidable assets they will forever be on the receiving end of calls, letters and the occasional default civil judgment. While stressing, this in itself would never make me (or millions of others) move to China.

Again, unless this guy is guilty of something beyond some run of the mill fraud, I don't see the point in moving to another country.

Edited by losartworks
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Shawnee! long time no see. I hope you're well. :wave:

 

Very well, thanks!

 

Seeing some of the replies here looks like the responses are the same too. :lol:

 

Have any criminal bank fraud charges been filed against him?

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I am ALMOST speechless.....

 

Now let me get this straight....I used some of HIS methods and advice to regain my good credit and financial stability, and then HE flees the country?

 

WTF? Or am I missing something here?

 

no he didnt flee, he went to the country with the most money! Didnt u hear China owns most of us?

 

Easy there, starting to get political with the "China owns most of us" stuff.

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Thanks Chris was thinking same thing....

 

To reflect, tho, I actually TALKED to him and he gave me invaluable assistance in defeating a MAJOR JDB who had bugged me for years.

 

Despite the JDB harrassment, at NO time did I think of leaving the US....

 

Just weird for him to do this, and kinda sad too....

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The last post in this topic was posted 3582 days ago. 

 

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