Why can't you declare bankruptcy to get out of student loans?
That's some bullshit.
Why can't you declare bankruptcy to get out of student loans?
Luke Flores
Hunter Russell
You also can't go to jail for not paying loans
We have different definitions of bullshit
Alexander Rodriguez
>Just graduated
>don't have any money, spent everything on college
>still had to take out loans
>no assets or savings to lose from filing for bankruptcy
>surewhynot.jpg
Who would keep their loans if you could just discharge them this easily? Everyone would do it, the student loan market would collapse, millions of people would lose access to college.
Julian Long
>Why do people not declare bankruptcy if they have credit card debt
Liam Cox
You actually could at one point, but they realized that the student loan scam doesn't work if you allow the goy..guys to remove it through bankruptcy.
You can't drink or own a gun till you're 21, but you can take up to 120k loan out for school when you're 18
Luis Powell
I think they come and steal your property at pennies on the dollar if you do that.
Jonathan Clark
Couldn't you just play the Good Goy bit for a while, get decent credit, transfer the loan balances to credit cards and then bail out via bankruptcy?
Isaac Sullivan
Agreed.
The current academic loan system is about as fucked as the housing loan system used to be.
Noah Foster
Because it'll fuck your credit for ten years, and they can take things like your home or other property of value to get the creditors at least some of their money back.
If you're fresh out of school, you don't have any assets for them to seize, the only consequence is the impact on credit.
Hunter Reed
no. i don't know where to find the law, but i know that this is illegal. if you go to a judge to file bankruptcy, this will be something he checks for and you will get fucked.