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Snow storm 2021

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  • WestlinnDuck
    WestlinnDuck Member Posts: 17,891 Standard Supporter
    "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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  • thechatch
    thechatch Member Posts: 7,485 Standard Supporter
    If you pay 50k for a sociology degree, you deserve to be in debt.
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  • WestlinnDuck
    WestlinnDuck Member Posts: 17,891 Standard Supporter
    thechatch said:

    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.
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  • Kaepsknee
    Kaepsknee Member Posts: 14,919
    WestlinnDuck said:

    "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.
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,496 Standard Supporter
    thechatch said:

    If you pay 50k for a sociology degree, you deserve to be in debt DIAFF.

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  • LoneStarDawg
    LoneStarDawg Member, Swaye's Wigwam Posts: 13,703 Founders Club
    If schools believe in their programs so much the schools should back the loans
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  • WestlinnDuck
    WestlinnDuck Member Posts: 17,891 Standard Supporter
    Kaepsknee said:

    WestlinnDuck said:

    "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.
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  • Kaepsknee
    Kaepsknee Member Posts: 14,919
    edited February 2021
    WestlinnDuck said:

    "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.

    Oops. I already replied to this.
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