[mhking]

If this guy thinks he can pay off $1,000,000 in debt in thirty years, he's either very naive or can't work a calculator.

Agreed - most of us are struggling with debts of a fraction of that (not counting mortgages), and sweating bullets every month over that.

I couldn't imagine having a million in debt to pay off like that. Then again, maybe he's looking at filing bankruptcy and just washing his hands of it...

[flyervet]

Well, he'll never have to worry about paying off a mortgage. No bank in its right mind is going to lend him money for a house with $1,000,000 in debt hanging over his head. From other things written on the Vision Forum website, I gather that his wife does not and will not be working. If they intend to do the honorable thing and actually pay their debt they may have to throw that plan out the window, along with many others. What a damn shame for everyone concerned.
<br From the article, this kid refused government assistance apparently because it's wrong to take government money. While I agree with him, the fact that government assistance was offered says that they probably don't have much money (most 22 year olds don't have a pot to p*** in). Given that he considers it wrong to take government money, I think it's unlikely that he would avoid the debt by filing bankruptcy. Hopefully he'll do the responsible thing. But I suspect at this point he hasn't even begun to realize the repurcussions of this debt in their lives- not only he and his wife, but any children they have, including this one.

[flyervet]

Well, he'll never have to worry about paying off a mortgage. No bank in its right mind is going to lend him money for a house with $1,000,000 in debt hanging over his head. From other things written on the Vision Forum website, I gather that his wife does not and will not be working. If they intend to do the honorable thing and actually pay their debt they may have to throw that plan out the window, along with many others. What a damn shame for everyone concerned.
<br From the article, this kid refused government assistance apparently because it's wrong to take government money. While I agree with him, the fact that government assistance was offered says that they probably don't have much money (most 22 year olds don't have a pot to p*** in). Given that he considers it wrong to take government money, I think it's unlikely that he would avoid the debt by filing bankruptcy. Hopefully he'll do the responsible thing. But I suspect at this point he hasn't even begun to realize the repurcussions of this debt in their lives- not only he and his wife, but any children they have, including this one.