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It makes life a LOT more difficult for the company. Even setting aside the administrative hassle, imagine how this works in practice. All the debtors who are pa
by NotYourLawyer 4y ago
It makes life a LOT more difficult for the company. Even setting aside the administrative hassle, imagine how this works in practice. All the debtors who are paying attention and have money pay off their loans at a discount. The loans that remain are the worst of the worst, and they fetch an even lower price in bankruptcy.
- bombcar 4y agoExactly. The same thing already happens at 100% value with refinancing (example: all those with good credit can refinance their student loans with the companies that popped up, those who are likely to default can't).