YOUR CREDIT CARD OUTLET

I have no credit card debt and 60k available at low interest rates for 6-9 months.What if I don’t pay it back?

I am 34 yrs old and do not need good credit..I rent a townhome and have no aspiration to invest in a house or finance a car..Also no aspiration to have a small business loan..I am looking to dump it all in the stock market..My friend in the finance business says if I default it will go to collections at which time I can bypass the collection agency and deal with the bank directly and settle between 25%-50% of the original amount..He says if the stock market is lower than now they will be overwhelmed with bad debt and will be happy to settle at deep discount..I will trade my good credit rating for 30k to 45k and that is only assuming the stock market is lower in 9 months than it is today..If it is higher I pocket the difference and pay back the loan..People bet on housing and are walking away while living in their houses for 6+ months while pocketing their mortgage payments why can’t I bet on the stock market and walk away..Any thoughts?

60K is nothing. Keep building your credit score.

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