Re:Defrauded students to receive loan forgiveness
by pg_bot on Friday March 19, 2021 @06:43PM
(#26518904)
There are long term consequences for declaring bankruptcy that would dissuade sane people from flippantly filing. You also have to convince a judge that you are actually bankrupt.
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Re:Defrauded students to receive loan forgiveness
by likpok on Friday March 19, 2021 @06:54PM
(#26518998)
The long term consequences end in 7 years, when the bankruptcy falls off your credit report.
That means that by 30 you'd be free and clear. Most people don't need much credit before then anyway: the median age of first time homebuyers is 33. You'd pay a lot more for a car loan or a credit card, but you don't really need either of those things either.