I was still under the premise from the OP, if we’re just talking defrauding banks then yeah there are ways to make it work sure. It has been done before almost guaranteed. Most push for a hefty life insurance as well before they cause their own death in a way that can’t be conclusively ruled as a suicide.

The problem with the concept is that you kinda do need to die. Else you’ve just amassed a shit ton of debt. And most don’t want to die. And those that do generally aren’t in a state of mind to plan it out well enough to work. Not to mention that you still need to have a credit rating good enough that you can get a decent amount of loans / credit card limit to make it worth the effort.