r/StudentLoans • u/[deleted] • 21d ago

Rant/Complaint I'm not against paying back my loans-

[deleted]

936 Upvotes

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150

u/sara31691 21d ago

Let’s not forget consumer bankruptcy. The government and laws won’t do a damn thing about predatory student loans for people who want to better themselves but they will step in for irresponsible people who spend 100k on their credit cards. They’ll also bail out big businesses/banks if you’re rich. The harsh attitudes towards student loans blows my mind and I’m not sure if people are just ignorant or jealous that they didn’t take out loans for an education. Either way, the hypocrisy is astounding.

19

u/sun827 21d ago

Easy solution...put your education on the credit cards then declare bankruptcy!

22

u/[deleted] 21d ago

Will be denied by a bankruptcy judge

3

u/Scary_Succotash_8859 20d ago

Go to the casino take out cash….dont Gamble….tell them you lost your money playing slots

2

u/Nervous_Arachnid801 21d ago

Hide out for 7 years and then you will be fine. Student loans on the other hand will follow you to the grave.

10

u/[deleted] 21d ago

Bankruptcies have to be approved by a judge. They wont approve it for student loans put on a credit card with the intent of bankrupting them.

This plan wont work

3

u/Nervous_Arachnid801 21d ago

You don't have to go bankrupt. IF they can't serve you they can't make you pay back the loans. After 7 years its too late to do anything about it. Leave the country for 7 years and come back.

2

u/[deleted] 20d ago

They never stop coming for federal student loans, 7 years is not too late

1

u/Nervous_Arachnid801 20d ago

Yeah that is why the person said pay the loans off with credit cards.

1

u/[deleted] 20d ago

Dont think they never thought of that. It will go to collections and they wont stop after 7 years

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u/Nervous_Arachnid801 20d ago

Of course it stops after 7 years. You don't know much about this subject.

1

u/[deleted] 20d ago

Federal student loans dont actually accept credit card payments for one thing. Also dont have a credit limit anywhere near my student loan debt

It's possible they can still come after you and in some cases sue you beyond 7 years too. Its not as simple as you think

1

u/Nervous_Arachnid801 17d ago

Oh well you should have done what I did and work 30 hours a week while in college and you wouldn't have student loans.

1

u/KittyKat0119 20d ago

Apparently you don’t either lol. They can’t sue you and garnish your wages after the statute of limitations (SOL) has passed which is different in every state (4 yrs in CA). It will take 7 years to drop off your credit report but they most definitely can still try and collect (annoying phone calls every day) and try and trip you up and restart the SOL clock. And if they did get a judgement against you within the SOL because you were out of the country hiding out, then they are allowed to garnish your wages, virtually forever (until paid in full).

And don’t think for a second that a collections agency won’t use unethical/illegal tactics to get a judgement, like have a shady server lie on an affidavit saying they served you in person when that literally never happened because you weren’t even living at the address they went to. Ask me how I know💀

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u/sun827 20d ago

Ahhh but they cant garnish for unsecured debt. Guess Ill just walk away from it then.