11–20 of 113 posts
Who wouldn't want to rack up a bunch of debt and just not pay when the bill came due?
Companies do this all the time, then declare bankruptcy and move on.
Bankruptcy is good for entrepreneurial risk, but not for human thriving apparently...
Who wouldn't want to rack up a bunch of debt and just not pay when the bill came due?
Many people seem to have been successfully brainwashed into moralizing debt but only for 19 year old serfs who have been lied to about the value of the asset they're taking out debt for. If its a corporation transferring 20 billion of debt into a leveraged buy out so they can shut down the company after squeezing all the assets out of it, that's just doing business.
When the bank is giving you a sub-prime loan, who is more sophisticated in that transaction?
If the bank (with their fancy risk models, etc.), why shouldn't they be the party to take the bulk of that risk?
She's from Colorado and decided to go to an out of state university (Oregon) and pay full out of state tuition for a degree in "historic preservation"? Yeah no shit you just signed up for a lifetime of debt. Reminds me of another story of some lady that got saddled with a couple hundred thousand in debt because she really wanted to go to Duke for a theater management degree. And then fled with her Russian fiance to M…
Get a tech degree, or be a loser forever!
I'm Canadian, but I know someone from the US who did this. She's living in Paris, moderately successful in academia and as far as I can tell, completely happy to never return to the US. Her family goes to visit her in Europe once in a while. Perplexing.
> moderately successful in academia and as far as I can tell Why not pay your debts then? I totally understand debt forgiveness for extenuating circumstances (and imo, it's a crime that student loan debt can't be forgiven, and the interest rates are often predatory—especially in the case of med school and law school), but this just sounds like stealing with extra steps.
Which is dumb, because you only have to pay off the debt if you are able to, interest rate is very low, you can pause it for a few years and after 35 years the loan is automatically forgiven. It's not a big deal. Completely uprooting your life to skip out on a €50/month payment is insanity but people see that €30,000 number in their portal and freak out about it.
Approximately 25,000 emigrated debtors are currently untraceable by the student debt collector.
I'm Canadian, but I know someone from the US who did this. She's living in Paris, moderately successful in academia and as far as I can tell, completely happy to never return to the US. Her family goes to visit her in Europe once in a while. Perplexing.
Who wouldn't want to rack up a bunch of debt and just not pay when the bill came due?
Many people seem to have been successfully brainwashed into moralizing debt but only for 19 year old serfs who have been lied to about the value of the asset they're taking out debt for. If its a corporation transferring 20 billion of debt into a leveraged buy out so they can shut down the company after squeezing all the assets out of it, that's just doing business.
Who wouldn't want to rack up a bunch of debt and just not pay when the bill came due?
She's from Colorado and decided to go to an out of state university (Oregon) and pay full out of state tuition for a degree in "historic preservation"? Yeah no shit you just signed up for a lifetime of debt. Reminds me of another story of some lady that got saddled with a couple hundred thousand in debt because she really wanted to go to Duke for a theater management degree. And then fled with her Russian fiance to M…
I'm Canadian, but I know someone from the US who did this. She's living in Paris, moderately successful in academia and as far as I can tell, completely happy to never return to the US. Her family goes to visit her in Europe once in a while. Perplexing.
> moderately successful in academia and as far as I can tell Why not pay your debts then? I totally understand debt forgiveness for extenuating circumstances (and imo, it's a crime that student loan debt can't be forgiven, and the interest rates are often predatory—especially in the case of med school and law school), but this just sounds like stealing with extra steps.