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    #1

    Interesting Read...

    And the major culprit in these people's stories...student loan debt...I'm not sure why some of them though do not file Bankruptcy...

    Extreme debtors - Stuck in an unemployment rut (1) - CNNMoney
    http://money.cnn.com/galleries/2011/pf/1108/gallery.extreme_debt/index.html
    The government isn't the only one with a debt problem. These seven people are drowning in debt and many don't see a light at the end of the tunnel.
    Chapter 7 Filed: 04/21/2011, 341 Meeting: 05/31/2011, Report of No Distrubution: 06/02/2011, Discharged: 08/03/2011, Closed: 08/10/11
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    #2
    I think that student Loans are not able to be discharged!

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      #3
      You are right....student loans are not allowed to be discharged. I was kind of implying that these people were spending a lot of money for degrees...not getting jobs...and then are stuck with the debt. (Though I certainly did type all that. HA).
      Chapter 7 Filed: 04/21/2011, 341 Meeting: 05/31/2011, Report of No Distrubution: 06/02/2011, Discharged: 08/03/2011, Closed: 08/10/11

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        #4
        Oh I agree, I think I am going to recommend something else to my kids when they graduate in 2014. Trades that can't be sent over seas.

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          #5
          Originally posted by jeep75 View Post
          Oh I agree, I think I am going to recommend something else to my kids when they graduate in 2014. Trades that can't be sent over seas.
          Jeep is right - there is actually a shortage of plumbers in the US - although I suspect that the banksters are trying to figure out how to outsource fixing the outhouse from China or India!!!

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            #6
            AND - the story of say the first chap - scares the living daylights out of me...scares the S**&*t out of me my friends.

            Correction - the guy in NV with the kids is absolutely horrendous in the so-called richest country in the world. No - not any more. That is truly one of my worst fears.

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              #7
              As you read furthur on, you find that many of those people who are "responsible" homeowners aren't a whole lot different from the rest of us. Ultimately, they might find that the only way to get the banks and mortgage companies to react is to stop paying. Unfortunately, the usual reaction is not to modify or refinace a loan - it is to start foreclosure proceedings. Sad situation.

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                #8
                Originally posted by IamOld View Post
                Jeep is right - there is actually a shortage of plumbers in the US - although I suspect that the banksters are trying to figure out how to outsource fixing the outhouse from China or India!!!
                I agree with you both! I work in Construction, with the tradesmen on large industrial construction projects...skilled trades are great jobs, great pay, etc....

                I have siblings, cousins, etc who have big giant diplomas and big giant student loan debt and teeny tiny paychecks...it just doesnt seem worth it to me (at least not a big university...maybe a community college)....
                Chapter 7 Filed: 04/21/2011, 341 Meeting: 05/31/2011, Report of No Distrubution: 06/02/2011, Discharged: 08/03/2011, Closed: 08/10/11

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