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humbert
Apprentice
Joined: 20 May 2005
Posts: 8
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 Posted: 10/02/07 - 04:13 Post subject: |
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| Hi. I am studying at the moment. The other night I got into a discussion with my friends. One of them said she had heard somewhere that declaring yourself bankrupt after finishing uni is a good way of avoiding to pay your student loan off. After all - you have no mortgage, or anything else, so you won't lose out hardly at all. I am sceptical. There must be some catch. What do you think? |
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abelard
Apprentice
Joined: 08 Dec 2005
Posts: 6
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| Posted: 11/02/07 - 00:57 Post subject: |
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| There is no catch. The situation is loud and clear. Yes, declaring yourself bankrupt is the way to avoid paying off your student loan. But in the bankrupcy period you will be constantly followed by people looking into all aspects of your finances. This is stressful and annoying. Afterwards the drama doesn't end either. You will always have a black marker against your name and it's very unlikely you will ever get a mortgage. So, please everyone - think twice! |
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