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12-07-2006, 10:06 AM

#11

Slice

Gets Weekends Off

Joined APC: Jan 2006

Position: Spartan

Posts: 3,652

Quote:

Originally Posted by HotMamaPilot

WOW. now that's good advice! Thanks a lot for your itel.

Don't make us come down there and pimp slap you!

12-07-2006, 11:23 AM

#12

Uncle Bose

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Joined APC: Jan 2006

Posts: 408

Quote:

Originally Posted by HotMamaPilot

Bankruptcy is a way to responsibly handles ones debt, and one should be commended for taking such actions.

Am I in the Twilight Zone???

12-07-2006, 12:49 PM

#13

LAfrequentflyer

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Joined APC: Jul 2005

Posts: 2,242

It would seem HotMama is in the twilight zone on this issue...

..Bankruptcies are one of the worst thing you can do...A better bet would be search for and read "Key Loans" thread on this site and avoid the pitfalls of massive consumer / school loans.

Keeping up with the Jonses is not a solution. Bankruptcies are not a solution to your problems.

-LAFF

12-07-2006, 01:37 PM

#14

DMEarc

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Joined APC: Nov 2006

Position: 737 Left

Posts: 828

Quote:

Originally Posted by JMT21

Claiming bankruptcy won't dissolve your student loans anyway.

You're wrong about this.

Claiming bankruptcy will NOT erase federal loans also known as Stafford Loans or Federal Code Title 4 Loans.

It WILL erase a private loan for flight training, etc etc...if your loan was disbursed on or before May 31st, 2005.

12-07-2006, 03:19 PM

#15

slaveship

Line Dawg

Joined APC: Sep 2006

Position: 777 Captain LCA

Posts: 150

Bankruptcy is a way to responsibly handles ones debt, and one should be commended for taking such actions.[/quote]

HOT MAMA.....wasnt I married to you once? Your philosophy sure sounds familiar.........decaf.......

12-07-2006, 05:28 PM

#16

JMT21

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Joined APC: Jan 2006

Posts: 305

Quote:

Originally Posted by DMEarc

It WILL erase a private loan for flight training, etc etc...if your loan was disbursed on or before May 31st, 2005.

It will if the judge will agree to it which is pretty unlikely. You would most likely still have to show substantial hardship and even then it would probably just be restructured and not forgiven.

12-07-2006, 06:13 PM

#17

atpwannabe

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Joined APC: Jan 2006

Position: Student Pilot

Posts: 2,277

Ok. So what if I'm rebuilding my credit and employment history due to some lack of discretion in my decision making as a young adult and not so young adult? What do most companies look for? One, two, three years of continuity in terms of employment and ontime pymts?

atp

Last edited by atpwannabe; 12-07-2006 at 07:56 PM.

12-07-2006, 07:54 PM

#18

ToiletDuck

Che Guevara

Joined APC: Aug 2005

Posts: 6,408

The military does it. The airforce won't let you deploy if you are too in dept and will kick you out of the military. Financial responsibility says something about the overall maturity of the individual.

12-07-2006, 07:54 PM

#19

ToiletDuck

Che Guevara

Joined APC: Aug 2005

Posts: 6,408

Quote:

Originally Posted by atpwannabe

Ok. So what if I'm rebuilding my credit and employment history due to some lack of discretion in my decision making as a young adult and no so young adult? What do most companies look for? One, two, three years of continuity in terms of employment and ontime pymts?

atp

go to annualcreditreport.com. Print it out. Find anything bad on there. Print out a few sheets saying you want it removed. A lot of the times they will simply remove the stuff.