lower student loan interest rate
Question: Another idea, (or in addition) is to declare bankruptcy to get rid at least the 17k in credit card debt. I know that there is no way to get rid of my student loan. But is there at least a chance to get better conditions for the student loan (like lowering the interest rates)?
Answer: Bankruptcy could have an effect on your interest rate, accrued interest, principal due, or anything else, if the judge felt like ordering a change in the terms. But s/he probably won’t.
How about buying a house and taking out a home equity loan in a couple of years, using the built-up equity? Problem: I’m predicting housing prices are in a bubble, so your timing is bad, although perhaps if you really screw up you’ll be able to do a truly pitiful bankruptcy filing, and that would be good.
If you’d be interested in going back and doing it all over again, and coming to this newsgroup five years earlier, I think we could help you.
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