Home » Articles » Finance / Wealth

Catch Me If You Can - They Did Three Years Later

Catch Me If You Can - They Did Three Years Later
"""In 1990, when the housing market crashed, the bank base rate was 23%. I was forced to maintain three properties. I invested 30% of my funds in each property and borrowed 70% from the bank. The market would decline to 40%, which is less than the fundamental market value. Even if I sold all three properties, I would still be required to repay the bank loan with funds that I did not have. I had no alternative but to leave this situation. I rented a private residence and returned all three property keys in sealed envelopes with a letter to the bank, but without my forwarding address. I suspected they would incur a loss.""""Catch me if you can"", I pondered. They would seek my location. I had lost everything, but I was not alone; everyone was destined to fail.

My fear of being discovered caused me three years of difficulty. The following day, I received a visit from the bank, followed by a court summons. When they screened me, I told them I received a ""F"" and that they should abandon the bankruptcy plan. That, I believed, would be a judicious decision because they would avoid incurring further losses.

All I had to do was declare and submit that I had no assets, no income, three children, responsibility, a rental residence, a used car, non-designer underwear, unpaid bills, halal chicken, and nothing else. This was sufficient for them, and I never saw them again. Since then, the sun has begun to shine. The hues of pleasure in my life grew to regal proportions.

Why did I flee from my fear? Why didn't I file my return the day I returned the key? Why? Because I lacked internet access. I did not have a directory of articles. I was lacking guidance.

""We appreciate your visit.""

" - https://www.affordablecebu.com/

Please support us in writing articles like this by sharing this post

Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.

"Catch Me If You Can - They Did Three Years Later" was written by Mary under the Finance / Wealth category. It has been read 77 times and generated 0 comments. The article was created on and updated on 02 June 2023.
Total comments : 0