Judge includes $100k student loan forgiveness in 35 year old bankruptcy, Biden admin CHALLENGING

[Sad Bunny]

Good.

I need mortgage forgiveness.

Where's my Property Tax Forgiveness?

Student loans?

fukk outta here

I need them to payoff my car loan too

 

[Seoul Gleou]

Good.

I need mortgage forgiveness.

Where's my Property Tax Forgiveness?

Student loans?

fukk outta here

a student loan is unsecured and therefore there's no chance of recouping your loss as a lender

what do you think your property tax and mortgage are secured to?

 

[UberEatsDriver]

How was a judge even able to approve that. It’s common knowledge you can’t file bankruptcy for student loans

 

[Mowgli]

what do you think your property tax and mortgage are secured to?

My damn paycheck.


Garnish their wages and take them payments.

Alot of these clown ass students running out of deferments to pay 100 dollars a month. Video game/Junk food money. It's pathetic. Garnish them

 

[Thavoiceofthevoiceless]

How was a judge even able to approve that. It’s common knowledge you can’t file bankruptcy for student loans

According to who?

It's always been possible. People just barely mentioned it over the years as it rarely happens and this situation is exactly the reason why.

 

[Seoul Gleou]

My damn paycheck.


Garnish their wages and take them payments.

Alot of these clown ass students running out of deferments to pay 100 dollars a month. Video game/Junk food money. It's pathetic. Garnish them

to....your property, not your paycheck. if you default, they'll take your home and sell it to recoup their loss.

if a person files for bankruptcy, they literally forfeit credit and anything related to borrowing for almost a decade. no one can recoup their loss on a student loan.

in fact, the belief you have about student loans is making millionaires billionaires. the same people that caused the mortgage crisis are about to cause a student loan crisis

SLABS or student loan backed securities are hinging on the idea that people will pay their loans...like how we all assumed people would pay their mortgage and never default or file bankruptcy.

Student Loan Backed Securities (SLABS) - Finance Train

reality doesnt work that way. at some point, people will say fukk it and file bankruptcy to escape student loan debt. when that happens, all hell breaks loose. that's why politicians wont forgive student loans. it isnt because of some moral obligation or capitalist sentimentality; they're making a shyt ton of money off people paying student loans for life.

 

[Red Shield]

I love Republicans.

Ya'll so fukking stupid.

I think almost 100% of the Biden voters on here have echoed a similar sentiment.

And yet ya'll still thnk we worship a demented geriatric white man the way you slobber Trumps balls.



So let me clear it up... again.

Nobody, and I mean nobody voted for Joe Biden.

Nobody here likes Joe Biden.

Nobody here thinks Joe Biden is a good president .

We all voted against Donald Trump.

And we all will again.

but that's the problem breh, folk just came out to get trump outta office. they didn't come out because they like biden. dude don't got a real base, neither does kamala.


i came out for joe the 1st time... but 2024 is lookin like a dem washout.

 

[Red Shield]

and the real reason student loans will probably not be forgiven is because the same shyt that got done to housing that led to the 2008 financial crisis... got done to student loans

 

[Mowgli]

to....your property, not your paycheck. if you default, they'll take your home and sell it to recoup their loss.

if a person files for bankruptcy, they literally forfeit credit and anything related to borrowing for almost a decade. no one can recoup their loss on a student loan.

in fact, the belief you have about student loans is making millionaires billionaires. the same people that caused the mortgage crisis are about to cause a student loan crisis

SLABS or student loan backed securities are hinging on the idea that people will pay their loans...like how we all assumed people would pay their mortgage and never default or file bankruptcy.

Student Loan Backed Securities (SLABS) - Finance Train

reality doesnt work that way. at some point, people will say fukk it and file bankruptcy to escape student loan debt. when that happens, all hell breaks loose. that's why politicians wont forgive student loans. it isnt because of some moral obligation or capitalist sentimentality; they're making a shyt ton of money off people paying student loans for life.

Pay what you owe.

Or you gotta go.

I say, change the law so they can ensure they get their money, through Garnishment.

No one said you needed to go to penn state when you know damn well your family broke.

Forgive ADOS student loans and that's all.

 

[UberEatsDriver]

According to who?

It's always been possible. People just barely mentioned it over the years ago as it rarely happens and this situation is exactly the reason why.

You can literally look this up on the topic of bankruptcy.

I use to counsel clients and speak to bankruptcy lawyers, credit bureaus and fed and private loan providers and it was always no this was never a thing even with the lawyers even

 

[Bryan Danielson]

Biden was the one who helped make student loans non-discharchageable through bankruptcy (keep in mind every other type of debt can be discharged). Yall should have voted for Bernie or Warren

Or Yang

 

[WaveMolecules]

Listen man fukk Joe biden, no problem

But don't bring GQP into this like they aren't 10000x worse

 

[UberEatsDriver]

There should be a revamp of student loans. Students should be educated on how to maneuver around them so when they do get loans they don’t come back trying to forgiveness.


I only support forgiveness cause student loans are thrown at students who are really two young to research or ask the important questions

 

[Bubba T]

How was a judge even able to approve that. It’s common knowledge you can’t file bankruptcy for student loans

No it’s not. The law says you can only get student loans discharged in bankruptcy if you have a undue hardship in the courts eyes, just like the article says.

 

[UberEatsDriver]

No it’s not. The law says you can only get student loans discharged in bankruptcy if you have a undue hardship in the courts eyes, just like the article says.

Bankruptcy itself says it does not cover student loans and if what you are saying is true then why aren’t many people doing it since they have these hardships and why is the Biden crew challenging it.


That literally makes no sense