Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.
Do you call yourself a good person after drafting this kind of scheme?
How do you see this for a financial advice for anyone to follow?
You’re just telling the rest of us what kind of a person you are, one who isn’t credit worthy and shouldn’t be trusted with anything of value. Your plan is to go through life, taking loans and not pay it back.
Instead, you prefer to have a business or investment set up in someone else’s name. You don’t even see the risk in doing that. Should the person turn out to be a terrible person just as you are, the business or investment is gone. It’s legally registered in the individual’s name, don’t you see that.
People really do come up with ideas that one might think inconceivable and here is one.