Posted on 03/21/2022 6:42:00 AM PDT by grundle
Question: I’m an attorney with over $200,000 in federal student loan debt, and I desperately want to file for bankruptcy on these loans. I’m on an income-driven repayment plan and would like my student loans to be forgiven or eliminated, if that option is available to me. Can you please help?
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Be elected to congress. He will be multi-millionaire in 3 to 6 months....8 tops.
If we do end up getting forced by the government to pay their debts, they should lose any academic credentials that debt paid for. Maybe we can action off his Juris Doctorate to help cover the costs?
There are also many with JD's who just decided law wasn't for them. My brother is one of them. He took his degree and used it to get a managerial job in marketing, where he's been for the last 20 years, and quite happily.
Run for Congress then pay it off with bribes from lobbyists.
The irony abounds. I would posit that his/her/its education was squandered...
“Two very dear friends of mine had massive law school debt. She was a prosecutor, he a private attorney.
So what did they did?
Followed the Dave Ramsey program. Took their kids out of private school, got rid of their expensive leased cars, followed the steps.
Paid off their school debt in 5 years.
We paid off massive credit card debt in one year just by following Dave’s program.”
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We paid off $65K in 3 years using the Ramsey approach. This after years of trying other methods. The 7 baby steps worked for us but we did to do the actual work. I think many people with high debt want to be debt free, in theory, but lack the determination to change the mindset. I will confess that we modified it slightly, we were already putting money into our 401Ks, our home was paid off and our kids were out of college so we went from Baby step 2 to step 7 while a little short on step 3. Today half of our earnings go to retirement and we are still on a fairly strict budget. We thank DR for all he does, all common sense but he puts it right there in your face. Been through FPU three times.
Don’t get in debt except for a home mortgage. Then pay off your debts - early if possible.
nope sorry, you’re in a unique debt class shared only with court judgments for felony crime restitution
and nobody gonna blink an eye at how sketch that all is
You must have not taken contract law in law school.
The guy should have realized this before he accumulated un accaceptable debt in the first place! Colleges and universities are nothing more than ponzi schemes.
Not correct. Do the math.
Assume a credit card balance of $20,000 at 28% interest. A $10,000 student loan at 4%. Assuming you pay $500/mo to pay off loans, your cash flow doesn't change until you pay off all the debts. The total amount you pay off is far less by paying off the high interest rate loan first. It would actually make sense to secure a $20,000 loan at 15% to pay off the 28% credit card.
I paid my own, plus I paid for the parent portion of my four kids.’
Bellyaching is not part of the deal.
IF this person is really an attorney then he should already know the answer…… hire an attorney
Best advice on this thread.
Never borrow what you can’t pay back.
Sometimes Tony and friends come to collect.
Run for office.
You’re a natural.
Dave Ramsey approach. Yes!
Try getting some clients for 1.
There are lawyers, or at least people with law degrees, working at Starbucks.
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