"And the reality is that Bankruptcy doesn’t hurt people much at all. They can still get a loan on pretty much anything they need anyway." Unfortunately, that isn't the reality. It's a little know fact that if you have a sh*tty credit rating with a BK on your report, any loan you get will be with a very high down payment with a horrific interest rate.
If you pay 50k for a sociology degree, you deserve to be in debt.
Agreed, and it shouldn't be guaranteed by the US taxpayer. Let the bank that was stupid enough to make that loan take it in the shorts and their shareholders.
"And the reality is that Bankruptcy doesn’t hurt people much at all. They can still get a loan on pretty much anything they need anyway." Unfortunately, that isn't the reality. It's a little know fact that if you have a sh*tty credit rating with a BK on your report, any loan you get will be with a very high down payment with a horrific interest rate.
If you are to the point where you are close to bankruptcy, you shouldn’t or couldn’t be able to take loans on new cars or boats anyway.
"And the reality is that Bankruptcy doesn’t hurt people much at all. They can still get a loan on pretty much anything they need anyway." Unfortunately, that isn't the reality. It's a little know fact that if you have a sh*tty credit rating with a BK on your report, any loan you get will be with a very high down payment with a horrific interest rate.
If you are to the point where you are close to bankruptcy, you shouldn’t or couldn’t be able to take loans on new cars or boats anyway.
No one is making the banks or other lenders make the loan. I just don't want the government to be part of the transaction like they are with student loans. Or Fannie Mae.
"And the reality is that Bankruptcy doesn’t hurt people much at all. They can still get a loan on pretty much anything they need anyway." Unfortunately, that isn't the reality. It's a little know fact that if you have a sh*tty credit rating with a BK on your report, any loan you get will be with a very high down payment with a horrific interest rate.
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