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?
(Excerpt) Read more at marketwatch.com ...
“Ramsey wouldn’t argue your math. He will tell you right from the start that from a math perspective you are right but that the problem is one of behavior. I’m not a genius but on my own decided to attack out debt and started lowest balance first to give us an early victory. As he would say 80% mental 20% math.”
^THIS^
If you don’t change the behavior, you’ll go right back to the same old results.
You can’t. Student loans can’t be written off via bankruptcy.
This attorney could also marry a rich spouse who is willing to put up with a dumb, lazy, entitled spouse.
Sue yourself.
I guess I’m old fashioned but I always understood that you paid your debts. I went to a small state school. Worked during school and summer when graduated paid my loan off over 10 years. I hate this new breed of helpless Americans
“If you don’t change the behavior, you’ll go right back to the same old results.”
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If we know 10 people, co-workers, neighbors, friends from church or school, out of that 10 probably several are living way above their means, leaving paycheck to paycheck, no money set aside for a rainy day, too much house, cars they cannot afford, upside down car financing and so forth. Scary high debt and people act like it’s nothing.
I think that if the economy really tanks, a lot of people will find themselves SOL. Treat debt like sin, if you have some, get rid of it. Now is the best time.
I think one of the best days of my life was the day we made the last payment on our mortgage.
Hell, I’ve met a bunch of piss-poor lawyers! Unless that’s not what you meant...
Shoulda worked harder to elect Bernie. Too bad.
Why not get a get a job in the government....get on the “Public Service Loan Forgiveness” grift.
BTW....I don’t feel like paying my mortgage and car payments....can I make somebody else pay for them too? Is there a way I can stick it to the tax payer?
This keeps re-appearing just like that old Madalyn Murray O’Hair letter that said she was going to destroy Christian Radio. No matter how many times it was debunked it would come around again and again.
Anyway congratulations as you were first to recognise it, Way ta go!
Here’s some help: get used to Ramen noodles, cut the cable, get a cheaper phone next time around, sell your car and get something much cheaper, and move to a cheaper place to live.
You KNOWINGLY took on those loans. Who TF do you think you are to have everyone else pay for your lack of wisdom, and your unwillingness to sacrifice a little to repay YOUR loans?
Buttercup snowflake. No one is bailing you out, except the federal govt if you work them they will pay it down with your help.
The bank assigned us an investment banker. I couldn’t figure out why. It turns out they knew what I didn’t. They assign one to everyone with a net worth over a million $. My response was “Then why don’t I have any money? We are driving 10+ year old cars. “ He responded “It’s all in retirement accounts”. So if I take it out, it’s taxed as income. He wanted us to fatten up our Roth’s. “I don’t have any money. We have my state job, my wife is retired on SS and we ‘downsized’ to a 7800 sq ft house with loads of issues”.
So we have no debt, no payments and no money. So kids, the secret to having $$$ you can’t use later in life is to start in your 20’s.
A scam of some sort.
First, a real attorney would not be looking for advice on FR or any social media.
Second, a real attorney has endless sources for information...
An attorney looking for legal advice on the internet? A joke.
“So we have no debt, no payments and no money. So kids, the secret to having $$$ you can’t use later in life is to start in your 20’s.”
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We have life insurance that is tied into a mutual fund that is supposed to pay the premium at some unknown point. One of those policies has 40k in it and I want to cash it out because I think I can do more with it than it paying me 100k life insurance policy if my wife passes when at this point I’m more interested in having a big fat 401k or Roth 5 years from now.
Anyway, our agent who is a “certified” personal financial advisor is dead set against cashing this out although we have plenty of insurance policies and really don’t need all that even if any because we don’t have but a car loan and I want to have you know control over our money. The big consideration is if we cash out all of it, it becomes taxable income, I assume any amount above what we paid into over the years that we take will be taxable. I think I can stand a certain amount of that we get 4k back from Uncle Sam this year.
This sounds oddly like a a whole life policy. If you get the death benefit, you lose the equity. If you take the equity, you lose the death benefit. The agent who holds it is getting paid by the policy. Eventually it will pay the premium UNTIL you get into your 60’s. Then you have to make payments again and they get more expensive every year.
Dump it. Yesterday. Only buy term life insurance
That’s exactly what I want to do.
I understand the logic of the discipline thing with Ramsey, but the wise move is to payoff the high interest rates first. Long term, you save. Big-time.
Think of it this way - you have three investment vehicles that pay 1%, 3% and 10%, guaranteed, and you can add to it anytime. Where would you put your money to get the greatest return? Same thing in reverse.
This dipshit is an attorney and is asking how to pay her bills? She shoulda gone to the local welding school.
Through the Indoctrination Centers that pose as “institutions of higher learning” would be my guess.
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