My Personal Plan For The Bail Out

[Rage for Order]

I've reached a conclusion in the event that the bailout is expanded to include bad credit card debt and auto loans. Since I'll be paying for this shit for the rest of my life, I've decided that I should see some tangible benefit. Therefore, if credit card debt is included, I plan to take out the maximum cash advance available on all of my credit cards, and then use the remaining credit limits to buy myself all kinds of nice stuff. I'll bury the cash in a coffee can in my backyard. However, I will not pay one more cent of any credit card bill that is sent to me. When the credit card companies call me, I'll inform them of my intentions to never pay them back a single penny, and I will then suggest that they contact Henry Paulson and tap into some of that $700 billion bailout money to offset the bad credit card debt that I incurred.

I have a 30 year fixed mortgage at 5.625%, and I just bought a new car with a 0% interest rate loan from GM, so I'm pretty much set. I won't need to utilize credit for a number of years, and I'll have a pretty good amount of cash on hand in the event of an emergency so what difference does it make if my credit is shot? I'll pay my mortgage, car payment, and student loans, and the rest of them can kiss my ass. I'll be damned if the Wall Street crooks will be the only ones to benefit from this scam. I want my cut, and I plan to get it.

[Orrex]

1. If you're going that route

Max out your cash advances and use them to pay off your mortgage and car loan.

[Rage for Order]

2. I've thought about that

However, the mortgage is good for the tax deduction, and the auto loan is zero percent, so I'm in no hurry to give them their money back ahead of schedule. Also, I think it would be prudent to have $20k - $30k in cash on hand in the event that I need some emergency funds, especially since I won't be able to use my credit cards anymore ;)

[InkAddict]

3. Be sure to keep your day job. n/t

[Rage for Order]

4. Oh yeah, I'll still work

Although that's the only thing that would give me second thoughts about my plan - the fact that some employers perform a credit check as part of their background investigation prior to extending an offer of employment.

[spag68]

5. Bailout

I still think my plan is the best, buckets, shovels, bail.