Quote:
Originally Posted by Danth
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You can discharge your car loan via existing bankruptcy law any time you like. A lot of student debt cannot be discharged via similar means.
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It could before the banks got heavily tied in with student loans, you could at one point declare bankruptcy and get out of your student loans. I knew two older folks who did it, right out of school Max purchased a cheap economy car then they both declared bankruptcy. They drove the new car while their credit was bad but they were debt free after 7 years.
College wasn't rammed down your throat as required for American life then but jobs were being sent overseas which mean the mills and plants were closing. That Tom Cruise movie about going to college instead of the mill, which were looked at as something of the past.
Edit: This is because Max and Sherry were exceptions to the rule. College just wasn't what it is now with how they have it setup.
"Higher Education" was an aspiration, not a standard for living.
TL/DR: The bank is going to get their money, up to including the police with deadly force.