Student Loans: GREAT strategy or STUPID idea???

[whywhywhy]

Wow, this issue sure has been talked about a lot. I think it can be summed up rather simply: with student loans and bankruptcy, you are SOL.

There is no way around paying them. Swallow the pill. Join the club.

Forbearance and deferment can be your friend, but use them wisely.

[FreshLikeADaisy]

I read it, and some of the other witness entries as well.

As your link attests, righteousness is no guarantee a BK filing will be met with any less possibility of persecution. I appreciate that possible outcome, but I have to focus on the probable.

I guess that's just where you and I will have to agree to disagree because for me, probability has very little to do with it: once you are assigned a trustee, probabilities no longer matter. It is now entirely his ballgame whether you thought it probable or not, whether his practice aligns with others you have heard about, whether your atty warned you upfront or not. If a person prepares for Ch7 with the assumption that the trustee will limit himself to following the course of creditor objections or otherwise not inquire deeply or ask for much, and then that specific trustee has significantly different ideas, there's no probable. It *is*, at the very least, a scramble for that debtor.

BUT, you have been and are being informed of the variations in practice, which is all I really care about. All probabilities aside, if you walk into your Ch7 and your trustee asks you for something you never thought you would need to provide, or your case is the 1 in 250 selected for random audit, you have indeed been forewarned. Best wishes to you!!!

[MajorMike]

Shoot I made 70K before even GETTING a degree. I'm in school right now...
There are jobs out there, if she looks...
Sales jobs are endless and sales is where there is money!

[SUB]

.....once you are assigned a trustee, probabilities no longer matter.

if a train leaves New York at 11pm traveling westward at 75 mph, and another train leaves Chicago at 1 am the next morning traveling east at 75 mph- type questions. But If I get one, I know just the forum to ask for help on.

[FreshLikeADaisy]

if a train leaves New York at 11pm traveling westward at 75 mph, and another train leaves Chicago at 1 am the next morning traveling east at 75 mph- type questions. But If I get one, I know just the forum to ask for help on.

Dude, you got me there. I have to agree with every word.

(BTW, I just got done throwing out paystubs from 1985 last summer, so I get with the whole preparedness thing... you're right in that it doesn't prevent *everything*, but it sure does prevent a lot. )