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I guess this is the lesson: pay for your college with credit cards and avoid student loans. One can be discharged with bankruptcy, the latter cannot.
by at-fates-hands 11y ago
I guess this is the lesson: pay for your college with credit cards and avoid student loans. One can be discharged with bankruptcy, the latter cannot.
- vinceguidry 11y agoThat's only feasible if you have limits large enough to put the whole balance on. Also, the interest will kill you unless you actually plan on declaring bankruptcy, in which case say goodbye to any chance of buying a house in the next seven years. I would think that in your early twenties, defaulting on student debt and declaring bankruptcy would have roughly the same net impact on your life.
- dsfyu404ed 11y agoDon't forget that the intent to declare bankruptcy makes it fraud... but intent is hard to prove if you don't tell the internet about it.