Would you marry a woman with $166K in student debt?

[MatureDJ]

http://finance.yahoo.com/news/help-im-marrying-166k-student-110000490.html

The girlfriend of five years (whom he wants to marry) graduated with $120,000 in student loan debt, which has now reached a balance of $166,000.

my opinion: :kick:

 

[ghp]

http://finance.yahoo.com/news/help-im-marrying-166k-student-110000490.html




my opinion: :kick:

Deppends in what field she graduated.

In a high paying field she might make it all back in a couple of years.


Despite that, we dont know nothing about the whole story.

 

[AmIAFC]

As far as I'm concerned, it'd be like practicing bigamy, because her ass is already married to the bank via shotgun wedding.

 

[SgtSplacker]

If it was a thing where she really didn't have anything going on and basically I would be absorbing that debit through her, then no. Prenup for sure too.

But if she's well off or making money herself then probably.

 

[Tictac]

Not without and iron-clad prenup.

 

[AmIAFC]

My girlfriend purchased a home back in 2006 when everyone was riding the bubble, and now the house is underwater. She doesn't think it's a sticking point when it comes to our future, but I tend to disagree.

 

[BeDJ]

Is she hot?

 

[Kailex]

If she had that much debt from going to a local college for Sociology or Liberal Arts... sure, I'd run the hell away.

If she was going through Med school and finishing all the way through to become a practicing doctor, completely different story.

 

[MatureDJ]

My girlfriend purchased a home back in 2006 when everyone was riding the bubble, and now the house is underwater. She doesn't think it's a sticking point when it comes to our future, but I tend to disagree.

Well, the beauty of dischargeable debt is that ultimately it is dischargeable (I got about $150K in unsecured debt discharged in Chapter 7 bankruptcy. ) It is always a great idea to lock away as much cash as possible in retirement accounts, so that there is not much to lose in a bankruptcy. (I walked away with about $200K in retirement assets as well as my home and almost brand new grand piano. )

 

[cordoncordon]

Well, the beauty of dischargeable debt is that ultimately it is dischargeable (I got about $150K in unsecured debt discharged in Chapter 7 bankruptcy. ) It is always a great idea to lock away as much cash as possible in retirement accounts, so that there is not much to lose in a bankruptcy. (I walked away with about $200K in retirement assets as well as my home and almost brand new grand piano. )

No offense to you, I mean I am happy for you, but that is freaking ridiculous. Just one of many examples of why this country is going down the toilet. Far too easy for free loaders to live nicely while not working. Far too easy to live above your means then just want a do over by claiming bankruptcy, and far too easy to sue in court for frivolous lawsuits.

If you have that kind of cash, a house, and assets, and I am assuming a job, you declaring BK is just criminal.

 

[Colossus]

I have OVER $166k in student debt. It is what it is, I cant take it back. Yeah I'm in a good field (medicine) with lots of work and an upper-middle class salary, but debt is debt.

I basically just look at it like a tax I have to pay. I have 2 options: I can either pay off as much as possible and live meagerly for years, or pay an income-based amount and have the balance discharged in 25 years or 10 years if I work in public service, whichever comes sooner.

Unfortunately student debt is not dischargeable any other way. Yet.

 

[SgtSplacker]

No offense to you, I mean I am happy for you, but that is freaking ridiculous. Just one of many examples of why this country is going down the toilet. Far too easy for free loaders to live nicely while not working. Far too easy to live above your means then just want a do over by claiming bankruptcy, and far too easy to sue in court for frivolous lawsuits.

If you have that kind of cash, a house, and assets, and I am assuming a job, you declaring BK is just criminal.

C'mon man you know how things work in the US, if it's not illegal it's fair game. If you are going to hold yourself to some kind of imaginary moral high ground in the US you are just cheating yourself and in the end nobody is going to appreciate it. I suggest to anyone here to do everything in their power to secure their and their families well being as long as nothing illegal is being done.

This is a country where dollar is king If you don't take advantage of every single thing you can take advantage of you are an idiot. My home just lost a ton of value by no foul action of mine, strictly because of other peoples profiteering. In the end it's a give and take. My advice is when you get a chance to take... TAKE! Just keep things on the up and up.

I am not going to bear the burden of playing fair when i'm getting the shaft from every single business that could possibly shaft me. And even if I did play fair i'm not going to abide by some imaginary rules of decency. The letter of the law is good enough for me, and apparently some very powerful decision makers also.

 

[cordoncordon]

C'mon man you know how things work in the US, if it's not illegal it's fair game. If you are going to hold yourself to some kind of imaginary moral high ground in the US you are just cheating yourself and in the end nobody is going to appreciate it. I suggest to anyone here to do everything in their power to secure their and their families well being as long as nothing illegal is being done.

This is a country where dollar is king If you don't take advantage of every single thing you can take advantage of you are an idiot. My home just lost a ton of value my no foul action of mine, strictly because of other peoples profiteering. In the end it's a give and take. My advice is when you get a chance to take... TAKE! Just keep things on the up and up.

I am not going to bear the burden of playing fair when i'm getting the shaft from every single business that could possibly shaft me. And even if I did play fair i'm not going to abide by some imaginary rules of decency. The letter of the law is good enough for me, and apparently some very powerful decision makers also.

I don't fault him for taking advantage of the situation. If he can do it more power to him. I fault the US legal system 100% for allowing anyone to be able to do this kind of thing.

 

[MatureDJ]

No offense to you, I mean I am happy for you, but that is freaking ridiculous. Just one of many examples of why this country is going down the toilet. Far too easy for free loaders to live nicely while not working. Far too easy to live above your means then just want a do over by claiming bankruptcy, and far too easy to sue in court for frivolous lawsuits.

If you have that kind of cash, a house, and assets, and I am assuming a job, you declaring BK is just criminal.

I had had a good professional job before then, but I had seemingly become obsolete & unemployable at any kind of decent job since then; I considered it a "severance bonus" from the Middle Class. :crazy: I am wondering why such vitriol is directed towards me when the folks on Wall Street seemed to have done a lot worse, what with their taking of government cash and paying themselves bonuses! :cuss:

 

[cordoncordon]

I had had a good professional job before then, but I had seemingly become obsolete & unemployable at any kind of decent job since then; I considered it a "severance bonus" from the Middle Class. :crazy: I am wondering why such vitriol is directed towards me when the folks on Wall Street seemed to have done a lot worse, what with their taking of government cash and paying themselves bonuses! :cuss:

MDJ it is nothing personal towards you believe me. Like I said more power to you if you can do it. And trust me, as a stock daytrader who follows the economy and our govt as close as anyone, I know all too well the out and out scams that not only is Wall Street perpetuating on the American public, but also the Federal Reserve and the powers that be.

I feel though that this country, because of examples set by the two entities above, is becoming more and more lazy. More about gimme gimme gimme and to hell with everything and everyone else. And that is a shame.

 

[Bible_Belt]

If you have that kind of cash, a house, and assets, and I am assuming a job, you declaring BK is just criminal.

Bankruptcy law is one of the few rights that non-rich people have, and those rights get "reformed" into being less powerful all the time.

Moses invented debt forgiveness. He set the time at seven years. If you couldn't pay the money back by then, it was forgiven. I always thought it was funny that seven years is the time period that credit reporting agencies use to drop old debt off your credit report. 3500 years later, we still have the same credit reporting rule

 

[cordoncordon]

Bankruptcy law is one of the few rights that non-rich people have, and those rights get "reformed" into being less powerful all the time.

Moses invented debt forgiveness. He set the time at seven years. If you couldn't pay the money back by then, it was forgiven. I always thought it was funny that seven years is the time period that credit reporting agencies use to drop old debt off your credit report. 3500 years later, we still have the same credit reporting rule

Goes to show you how much religion really controls the world in which we live in.


Ahhh yes, religion...another scam.

 

[Tenacity]

If she is in the medical field or works on Wallstreet, then the debt can be managed. But the issue is that no one can really "predict" what's going to happen after you actually get married:

- What if she gets pregnant and decides to be a stay-at-home mom and "require" you to be a "real man" and work all day to pay all expenses and her debt?

In the example I provided, even if you had a Pre-Nup she could make a case that her skills have been destroyed through being a "stay at home mom" and the Judge could override the Pre-Nup as a whole or aspects of it, as well as give her Alimony. A Pre-Nup can never be iron clad, you can always structure one but you really have no idea if it's going to "insure you" until you are actually going through the divorce proceeding.

Me personally, I am NOT getting married. There's no upside benefits for a man with his life together, a solid career and future to get married. I am going to make children though for the sole reason of leaving a Legacy. This will be with a woman that fits my standards though, and I will structure my monetary sources so that if the worse case occurs with the woman trying to put me on child support, I have ways to show lower levels of income.

 

[MatureDJ]

Bankruptcy law is one of the few rights that non-rich people have, and those rights get "reformed" into being less powerful all the time.

Moses invented debt forgiveness. He set the time at seven years. If you couldn't pay the money back by then, it was forgiven. I always thought it was funny that seven years is the time period that credit reporting agencies use to drop old debt off your credit report. 3500 years later, we still have the same credit reporting rule

For Chapter 7 bankruptcy, it's 10 years.

 

[Kailex]

Student loans are forever.

Now, if you asked me if I would marry a woman with $66K in credit card debt... completely different story.