The Wolf Interprets American Bankruptcy Law

[slythwolf]

So, if you declare bankruptcy, your student loans remain unaffected, even if you can't pay them. Now, I've known this for years, because when I took out my student loans it was one of the things in all the promissory agreements that I had to sign. But I didn't really know it until recently

Comments

[anythingtwice]

It's the same deal with student loans in Ontario.

[bethos]

Yeah. I am going to be in student debt for the rest of my natural life and I ... still have no job. Although I guess I could run up my credit card debt to pay my student loan bills with cash advances from my credit cards at retarded interest rates and then ... declare bankruptcy? And still have student debt left. Uhm.

[pocochina]

This makes me so fucking angry I can't even. Totally agreed, and I have no idea how I'm going to get out of the hole either.

[dareva]

It's pretty much, "how dare you, poor person, presume to rise above your rightful place?"

[slythwolf]

Yep, that was my thought.