Old 12-17-2012, 12:05 PM
  #5  
KC10 FATboy
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Joined APC: Jun 2007
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Originally Posted by SuperConductor View Post
According to a Constitutional Lawyer, who argued his points before congress in 1975, it looks like banks may be violating 14th Amendment right of Equal Protection, by having made our student loans non-dischargable in bankruptcy. Well, since airline management has used their bankruptcy protection to break their promises, I think it's time for our unions to help us out. Maybe they can help us consolidate to over-turn this relatively young, and incredibly inept tool used to turn students (many of them pilots) in the USA into debt-slaves.

When many of us took out our loans, the airline were doing well. Being a pilot was always a promising career. No so any more. Not with everything that's happened in the new millennium. If unions are having such a hard time effecting pay raises, perhaps they can help us in other ways.

Here's a link to that article on the unconstitutional reality of student loan debt slavery.

Moe Tkacik: Student Debt
I read this post while deadheading to my next flight. I am thankful I had 24 hours off before operating the flight because my blood pressure shot through the roof and I would have been unfit for duty! There are people who die trying to get to this country (legal and illegally) for its opportunities and you refer to them as slavery! Could you be anymore spoiled?

First, student loans can be discharged but you have to prove that paying the debt will impose undue hardship to you and/or your dependents. This is not easily done because when it comes to student loans, they are several different payment options to help you pay them back. Also, student loans can be put into forbearance and deferment. And in 2007, they started the Student Loan Forgiveness program (don't get me started on that).

So you can't afford $25/month? $100/month? I had student loans and at one time in my life I used one of the above payment options to help me through a bad financial time. I am speaking from having been there.

Second, think twice before you jump to conclusions and file bankruptcy, Ch7 or Ch13. Thankfully, it isn't as easy to file anymore. You ruin your credit for up to ten years which could impact buying a home, renting an apartment etc.etc. It could take up to five years to complete the bankruptcy process. You may lose your car and other possessions. Lastly, many companies do background checks and a recent bankruptcy filing is a huge red flag.

You are owed nothing. Stop this entitlement mentality. You are the type of person that is bringing this country to its knees.

I suggest Dave Ramsey Homepage - daveramsey.com or some other financial counselor before you go filing.
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