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06.08.08, 17:49 PM General Topics
20 replies
Am I terrible? SIL was telling my that my niece, a college student, racked up $15,000 in credit card debt and wants to declare bankruptcy. I suggested that before declaring bankruptcy, she take a break from school and try working for a while to pay down her debt. SIL acted like I suggested selling a kidney. Am I crazy? Don't people in debt take jobs to pay it down anymore? [ Reply | Watch | Flag ]
General Topics 06.08.08, 05:49 PM Flag
 

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It's a bad idea to leave school like that. She can get a job while still in school [ Reply | More
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General Topics 06.08.08, 05:50 PM Flag
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np: But it's an even worse thing to declare bankruptcy. I'm not even sure if with the new rules the niece would get rid of her obligation if she did. [ Reply | More
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General Topics 06.08.08, 05:51 PM Flag
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OR probably not. But leaving school isn't the answer either [ Reply | More
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General Topics 06.08.08, 05:51 PM Flag
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Why is leaving school and working full time a bad idea? Shouldn't paying her bills be a priority? [ Reply | More
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General Topics 06.08.08, 05:51 PM Flag
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how did she rack up these bills? was she paying for books and tuition or just 'having fun'? [ Reply | More
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General Topics 06.08.08, 05:53 PM Flag
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My brother and SIL took care of tuition, room, board, and books. She racked up the debt on meals out, expensive clothing, bar tabs, some weekend trips and spring break. [ Reply | More
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General Topics 06.08.08, 05:55 PM Flag
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As a mom, I would have her pay it off. I would probably pay the cards for her but would get into some contract with her to pay it off. If car, I would take it back as payment. I totally agree with you that this is abs. irresponsible. If this is not a good reason to learn a lesson, nothing is. [ Reply | More
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General Topics 06.08.08, 05:57 PM Flag
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wow. we wouldn't be able to pay off $15K in debt [ Reply | More
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General Topics 06.08.08, 06:00 PM Flag
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Leaving school would enable her to work more hours and pay down more of the debt. [ Reply | More
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General Topics 06.08.08, 05:53 PM Flag
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It also increases the chances that she never returns to complete her degree [ Reply | More
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General Topics 06.08.08, 05:55 PM Flag
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OP: Well, that would be her own fault for being irresponsible. Why should being a student exempt her from her financial obligations? She had a chance to go to college and graduate debt free. She blew it big time. [ Reply | More
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General Topics 06.08.08, 05:57 PM Flag
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leaving school can oftentimes turn into not going back at all. how many years does she have left? she should get a p/t job during the year and work all summer [ Reply | More
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General Topics 06.08.08, 06:00 PM Flag
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OP: She has two years left. If she doesn't go back, it will be beca [ Reply | More
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General Topics 06.08.08, 06:01 PM Flag
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^^ because of her own irresponsibility. If YOU had loaned her the money and she told YOU that she couldn't pay you back because school was more important that honoring her financial obligations, how would you take it? [ Reply | More
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General Topics 06.08.08, 06:02 PM Flag
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i wouldn't loan money to a college student. i did say she should pay it off herself. [ Reply | More
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General Topics 06.08.08, 06:05 PM Flag
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how about giving her the sallie mae papers so she can get a loan to pay for the rest of her tuition? I think it's absurd for the parents to agree for her to go ahead with bankruptcy. [ Reply | More
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General Topics 06.08.08, 06:06 PM Flag
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start working on a plan to have it paid back, with interest, as soon as she graduates. [ Reply | More
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General Topics 06.08.08, 06:10 PM Flag
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We all hear what you're saying, it's just compounding the problem to risk her never completing the degree. It IS possible to be in school AND work. I did it. [ Reply | More
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General Topics 06.08.08, 06:11 PM Flag
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If she is under 21, that my not be feasible. [ Reply | More
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General Topics 06.08.08, 06:01 PM Flag
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She needs to find a way to pay off the debt - banckrupty is a bad. Her parents should consider helping her but make her work to pay them back. I don't agree with her taking a total break from school - it is never easy to go back. But she needs to pay off her debt [ Reply | More
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General Topics 06.08.08, 07:00 PM Flag
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