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This is pretty spot-on for me at the moment. Low-mid 30's and I sort of have a "choice" to borrow from my parents to get me by (which would actually be saddling
by debttmp789 8y ago
This is pretty spot-on for me at the moment. Low-mid 30's and I sort of have a "choice" to borrow from my parents to get me by (which would actually be saddling them with more debt - however they are FAR better equipped to deal with it). I'm taking a good hard look at declaring bankruptcy this week as an attempt to break out. It would be less heartbreaking than continuing the feelings of fealty.
- ttul 8y agoI wonder if going bankrupt now (prior to a recession) is a good strategy because it means you will emerge from it sooner than the bulge of others who become bankrupt after the recession. Serious point...
- cheeko1234 8y agoWhat makes you so sure a recession is coming?
- ttul 8y agoRecessions always come. Timing is of course impossible to predict.
- cheeko1234 8y agoObviously. Your comment seemed to imply a recession incoming sooner than later and was wondering if you had a source.
- otoburb 8y agoThat is a viable option for many types of debt, but some forms of student debt cannot be discharged under bankrtupcty[1]. There is no easy answer here, because the immediate first-order reaction to questions about blanket student loan forgiveness is the inevitable moral hazard angle. [1] https://qz.com/1367412/1-5-trillion-of-us-student-loan-debt-has-transformed-the-american-dream/ https://qz.com/1367412/1-5-trillion-of-us-student-loan-debt-...