4 ms·
Yes. To default just don't pay. What I think you meant to ask was is there a way to escape repayment (get the debts wiped out in bankruptcy). Yes. It is possibl
by jrs235 7y ago
Yes. To default just don't pay. What I think you meant to ask was is there a way to escape repayment (get the debts wiped out in bankruptcy). Yes. It is possible to ask and get a judge to wipe out the student debt loan but the bar is usually fairly high and unlikely. Can it be done en masses or exploited. Not likely. You'd likely need Congress' involvement. Good luck with that and good luck with Devos.
- toomuchtodo 7y agoI have wondered if the right person in the right place could go Mr Robot on the Dept of Education’s loan data, nuking all borrower data (prod, backups, everything). “Non Congressional Sanctioned Forgiveness” thought experiment.
- dillonmckay 7y agoUnfortunately, much of the debt was improperly resold, and collections agencies attempt to collect on debts they have no legal rights to.
- Tactic 7y agoAssuming that is a legitimate question: No. That data resides in many places... with the loan servicers, the NSLDS, the Guarantors... spread in locations around the country.