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A comment on Taxi Medallion Prices Are Plummeting, Endangering Loans. Parent comment

Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by the_watcher on Monday January 30, 2017 @10:08PM (#13527200)
> Try to default on your loan and see what happens to you. You'll be a slave of the bank for the rest of your life.

Bankruptcy exists almost entirely to offer protection against this exact scenario playing out.

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Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by Johnny555 on Monday January 30, 2017 @10:28PM (#13527306)
As long as the debt in question is not a student loan, which usually survive the bankruptcy.
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Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by pmiller2 on Monday January 30, 2017 @11:05PM (#13527469)
"Usually" is quite correct. You basically have to prove there would be no hope of being able to pay it back without severe financial hardship, and the bar for hardship is fairly high. Even when some student debt is discharged in bankruptcy, it's often a partial discharge.
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