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ethanol posted:I feel like on top of tanking your credit, if you file chapter 7 you'll end up with worse payments than in IDR, file chapter 11 and they're going to come take your stuff People with private loans won't be able to get IDR. And IDR doesn't start until June 2023. But, yes. Once IDR becomes a thing, there will be almost nobody who is in a position where it makes sense to go bankrupt for student loans. It's mostly just for people who are declaring bankruptcy anyway and have private loans.
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Nov 18, 2022 00:06
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Declaring bankruptcy was one of the best things I ever did. I wasted so many years trying to do the “right” thing but I was too far in debt to ever get out. Next month will be three years out and my credit score is already back over 700. I’m not saying it works for everyone but if you’re in a position where you don’t really need to worry about your credit score for a few years just do it. gently caress the banks.
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Nov 18, 2022 00:09
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Leon Trotsky 2012 posted:People with private loans won't be able to get IDR. And IDR doesn't start until June 2023. well you don't get private loans forgiven anyways. but also various IDR plans have been around for like a decade or more. I think you're talking about the new plan.
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Nov 18, 2022 00:18
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Leon Trotsky 2012 posted:That would probably be a bad strategy because you have to actually get approved for bankruptcy first. Everyone doing it at once would just create a huge line. https://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=4046&context=dlj You're way overshooting it. it is .1 percent
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Nov 18, 2022 01:29
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What if everyone just stopped paying their loans.
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Nov 18, 2022 01:37
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Cpt_Obvious posted:What if everyone just stopped paying their loans. Amazon warehouses become Debtors' Prisons.
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Nov 18, 2022 01:58
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Wrong thread
Mr Ice Cream Glove fucked around with this message at 10:58 on Nov 18, 2022 |
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Nov 18, 2022 04:57
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Mr Ice Cream Glove posted:https://twitter.com/RepThomasMassie/status/1593419816366268418?s=20&t=bgSVhbSGbVIwapvn9trEGA lol wtf. this guy is a MIT educated engineer too. epic
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Nov 18, 2022 05:15
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Mr Ice Cream Glove posted:https://twitter.com/RepThomasMassie/status/1593419816366268418?s=20&t=bgSVhbSGbVIwapvn9trEGA EDIT: Never mind.
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Nov 18, 2022 05:24
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Okay, this isn't the "general bag on GOP death-cult dumbasses thread." Kindly keep discussion defensibly on-topic or consequences will ensue.
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Nov 18, 2022 05:26
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Mr Ice Cream Glove posted:https://twitter.com/RepThomasMassie/status/1593419816366268418?s=20&t=bgSVhbSGbVIwapvn9trEGA So simple. We can end world hunger and slow climate change at the same time. Just grow more food.
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Nov 18, 2022 09:06
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Oops apologies I put that in wrong thread 
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Nov 18, 2022 10:57
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Leon Trotsky 2012 posted:That would probably be a bad strategy because you have to actually get approved for bankruptcy first. Everyone doing it at once would just create a huge line. Wouldn't this gently caress the entire economy because corporations would also be unable to get the bankruptcies they use?
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Nov 18, 2022 13:24
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Apparently the Biden administration has appealed to the Supreme Court to allow this to go through.
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Nov 18, 2022 18:37
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the supreme court will save america
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Nov 18, 2022 18:42
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hot cocoa on the couch posted:the supreme court will save america They do seem like a trustworthy bunch.
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Nov 18, 2022 19:00
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Azuth0667 posted:Wouldn't this gently caress the entire economy because corporations would also be unable to get the bankruptcies they use? Sorry bud, Corporations don't get to be bankrupt, they get bailouts. Think of it as debt relief, but for evil.
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Nov 18, 2022 19:06
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"gently caress it! Let's all just default together! They can't put us all into debtor's prisons!" Narrator: "They did, and the government spent more on the contracts than full foregiveness would have cost the taxpayers."
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Nov 18, 2022 22:26
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Leon Trotsky 2012 posted:Looks like I spoke too soon and Biden had the same idea. That is the exact opposite of a good idea though. And applying for bankruptcy is not easy or cheap. Mr Ice Cream Glove posted:Oops apologies I put that in wrong thread To be fair, that post kinda fits this thread. I mean, these are the people who are making decisions for how to run and lead the country. It's no wonder things are such a mess, and why they think that student loan forgiveness means that everyone else will be paying for our loans. I said come in! fucked around with this message at 23:44 on Nov 18, 2022 |
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Nov 18, 2022 23:38
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Zil posted:They do seem like a trustworthy bunch. 
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Nov 18, 2022 23:40
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Zil posted:They do seem like a trustworthy bunch.
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Nov 19, 2022 04:02
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To make myself more painfully clear, don't shitpost in this thread or you will get probed. Posts like the last two will get probed if I see them, even if it's way after the fact.
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Nov 19, 2022 07:59
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I got an email about a half hour ago from what appears to be a legit source stating that I was approved for debt relief but they can't do anything because lawsuits. Has anyone else gotten an email like this?
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Nov 19, 2022 18:21
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YeahTubaMike posted:I got an email about a half hour ago from what appears to be a legit source stating that I was approved for debt relief but they can't do anything because lawsuits. Has anyone else gotten an email like this? I got the same thing. Secretary of Education Miguel Cardona
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Nov 19, 2022 18:52
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The reasons I thought there was a chance it might not be legit are 1) I'm just generally suspicious of everything about this whole thing, and 2) when I looked over the requirements/restrictions before applying, I was very sure that I wouldn't qualify.
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Nov 19, 2022 19:00
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Got that same email today.
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Nov 19, 2022 19:20
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Just got the email too. I hadn't signed up for alerts but when I put in the application I put in my email address so I think it's legit.
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Nov 19, 2022 19:48
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The email is legit.
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Nov 19, 2022 21:20
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YeahTubaMike posted:I got an email about a half hour ago from what appears to be a legit source stating that I was approved for debt relief but they can't do anything because lawsuits. Has anyone else gotten an email like this? Yep. Just checked my inbox.
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Nov 19, 2022 21:25
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I have not as yet received this email. 
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Nov 19, 2022 22:19
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CaptainSarcastic posted:I have not as yet received this email. Neither have I.
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Nov 19, 2022 23:27
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I just now got mine, so it seems to be coming in waves
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Nov 19, 2022 23:30
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Cacafuego posted:Neither have I. Same here, but then again I got an email from my servicer saying 'yeah you qualify, don't bother really' so maybe that has something to do with it?
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Nov 20, 2022 04:27
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Snugglecakes posted:Just got the email too. I hadn't signed up for alerts but when I put in the application I put in my email address so I think it's legit. I received one also
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Nov 20, 2022 04:34
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I have now received the email, too. At least they don't appear to be silently giving up, I guess.Federal Student Aid posted:From Secretary Cardona: Lawsuits are preventing the U.S. Department of Education from implementing its one-time student loan debt relief program; we are holding your approved application CaptainSarcastic fucked around with this message at 04:39 on Nov 20, 2022 |
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Nov 20, 2022 04:37
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Yeah I’m certainly hoping it’s not just optics and there’s actually some backup plan in place in the event it dies at the Supreme Court. I haven’t gotten the email yet but my friends did today.
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Nov 20, 2022 04:44
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I think even attempting to go through the Supreme Court shows they have absolutely no other plan. They’ve never shown the ability to fight anything that isn’t Bernie Sanders. If history is any indicator, they’ll just tell you to vote and donate, while also doing absolutely nothing about Manchin, Sinema, the filibuster, or anything else that holds them back from helping people. CubanMissile fucked around with this message at 05:21 on Nov 20, 2022 |
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Nov 20, 2022 05:17
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Considering the effect of the midterms, they may be prompted to do something to keep that part of the electorate energized. But I guess we shall see. I would say 'just forgive everything and tell the GOP to go gently caress themselves,' but giving everybody another year of no interest forgiveness in response would do as well.
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Nov 20, 2022 05:55
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They’ll just give you the slippery slope argument they whip out when talking about court packing. They are not going to forgive everyone’s loans. They can’t even forgive this means tested half rear end amount.
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Nov 20, 2022 05:59
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"unfortunately, we spent all our political capital compromising with a party that openly declares that people who compromise are weak and losers, thus, we have entered into further debate with this opponent...."
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Nov 20, 2022 11:11
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