It seems like it doesn't carry the stigma it once did. I know people that have filed several times. To them it doesn't seem to be much different than going and getting the car washed. I guess maybe I was just raised different, I made my financial bed for better or worse and I live with it. Others feel the need for everybody else to bear the burden of their mistakes while continuing to make the same ones over and over again. Oh wait, this isn't a discussion about the current administration is it?
What made the whole thing even worse was the fact these morons who over borrowed did so by attaching them selves to 5 year A.R.M. mortgages that they could not roll over in 5 years because as it turned out their house was worth crap.
Filing bankruptcy will not even prevent you from getting a high level government job. If I remember correctly and I could be wrong, the attorney general under Evan Bayh, filed bankruptcy to stiff IU for her student loans. Her husband filed bankruptcy on his own and then they both filed bankruptcy together. It would never occur to me to run up a bunch of debts that I could not pay and then stiff everyone so that they would have to make up for my misdeeds.
There is no question that a lot of these cookie cutter tract homes are of sub standard construction. But that in itself didn't cause the collapse. The prices were driven up by an over inflated market consisting of too many buyers with not enough, (any), money.
Student loans are non bankrupt-able.
Im not going to blame some working sap for getting suckered by people who control the money supply and the media.
Just because someone is willing to loan you money, doesn't mean you have to take it. The last time I looked the last thing to appear on the bottom of the last page on a home mortgage is the buyers signature.
....... take it from any Tom, Dick, or Harry who was willing to loan it to them. Now they can pay the price, as they damn well should. Bill T.
they were before bush,,,now we got all these people getting expensive degrees that dont see a payoff in the workplace...and no way to get out of the student loans,,,even though everyone is taught from kindergarten that a college degree is necessary to get anywhere...
student loans are now bigger than credit card bills...sooner or later,,,theyre going to let people bk these again... bk is a safety valve,,,and weve got millions of people in a tight spot,,, with no economic recovery in sight...
theyre going to have to take the pressure off the student loan people,,,no way around it...
Shut off the $170 cell phone bills and stop spending like crazy.