PPRuNe Forums - View Single Post - Boat in HK good idea and where?
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Old 4th Oct 2018, 04:10
  #132 (permalink)  
unitedabx
 
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Originally Posted by Slasher1
My thinking outside of the box would be (if you didn't have much equity in the boat and could get your assets out of HKG) this might be a good time to walk away from the boat, walk away from the job, stick the bank with the boat (and debt), leave HK, and start a new and happy life. Could be a blessing in disguise.

I'd say it worked during the housing crisis (because it kinda did for some), but unfortunately it didn't stick it to the right people (the banks who lent poorly got bailed out, the wall street scammers skated, and the taxpayers and honest investors got stuck with the bill; although at least it's a bill that'll never be paid).
That would work EXCEPT land property was mortgaged and you could hand back the keys and walk away. Boats are personal loans from lenders. You can't hand the keys back, they don't want them they want their money back and will pursue you relemtlessly worldwide.
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