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re: Trump admin to go after pensions, wages and tax returns to claw back student loan debt
Posted on 4/22/25 at 3:19 pm to Major Dutch Schaefer
Posted on 4/22/25 at 3:19 pm to Major Dutch Schaefer
Good. Get it all back.
0
Posted on 4/22/25 at 3:19 pm to Major Dutch Schaefer
Most people don't the Teamsters pension fund received nearly $40 billion in taxpayer bailout money in 2022.....right during the middle of all the Covid-19 Hysteria stimulus scam.
If DOGE wants to really expose waste, fraud and theft they should audit the $6-7 trillion of Covid-19 stimulus. Where did all that money go y'all? Still a lot of dilapidated roads/bridges and crumbling infrastructure across this great country.
If DOGE wants to really expose waste, fraud and theft they should audit the $6-7 trillion of Covid-19 stimulus. Where did all that money go y'all? Still a lot of dilapidated roads/bridges and crumbling infrastructure across this great country.
Posted on 4/22/25 at 3:20 pm to atlgamecockman
quote:
I mean... I think people ought to pay the loans back but there's no question that this would not be great for the economy also.
The not paying has only been since covid.
That hasn't been great for the economy either. It just passes it on to the taxpayer. And know what was worse than paying taxes?
The Biden inflation.
This post was edited on 4/22/25 at 3:21 pm
Posted on 4/22/25 at 3:20 pm to The Maj
quote:
So, we should just encourage everyone to default on their loans? If you borrow money, you need to be prepared to pay it back...
I think it's more that the issue is here. It's a massive problem. It's entirely a problem of their own making, but a problem, nonetheless. The reckoning is coming one way or another, and society as a whole will pay for it in one way or another as well.
Posted on 4/22/25 at 3:21 pm to KiwiHead
quote:
There goes 10 million potential future JD Vance voters
Deadbeats who are waiting on loan forgiveness are and were never voting for Vance.
All those are smaaart, eduuuuucated, intellllligent, and saaaavy liberals
Posted on 4/22/25 at 3:22 pm to The Maj
quote:
f you borrow money, you need to be prepared to pay it back...
Just take these peoples houses and cars if they have them.
Posted on 4/22/25 at 3:22 pm to Major Dutch Schaefer
I don't have a problem with this; but I think the colleges ought to be fined interest as well for pushing loans so hard, especially under the lie that “any degree will get you better pay”.
Posted on 4/22/25 at 3:24 pm to KiwiHead
quote:
There goes 10 million potential future JD Vance voters
Nah, the majority of these people would vote for anyone that has a D in front of their name. It’s part of their DNA.
Posted on 4/22/25 at 3:25 pm to DesScorp
quote:
I don't have a problem with this; but I think the colleges ought to be fined interest as well for pushing loans so hard, especially under the lie that “any degree will get you better pay”.
Before any headway can be made on the student loan crisis, they have to fundamentally change how we go about higher education in this country.
It should be difficult to get in, stay in, get loans, and keep loans. Until that's done, the cycle will continue.
Posted on 4/22/25 at 3:26 pm to BBONDS25
quote:
hat would require a judgement, right? As soon as there is a judgement it is dischargeable through bankruptcy. I think Trump is off on this one. I don’t think they will collect any more. They will just give those who defaulted an out after 7 years.
I don't think so. It's my understanding if you try and discharge a SL in bk, you have to petition the bk court and they hold a hearing to determine if paying the loan is an unreasonable hardship and the standard is pretty high. These folks are just stuck.
Posted on 4/22/25 at 3:29 pm to Major Dutch Schaefer
They should have always done Treasury Offsets to collect delinquent monies owed to the government.
Posted on 4/22/25 at 3:30 pm to BBONDS25
quote:
That would require a judgement, right? As soon as there is a judgement it is dischargeable through bankruptcy. I think Trump is off on this one. I don’t think they will collect any more. They will just give those who defaulted an out after 7 years.
Regular bankruptcy won't discharge a student loan judgement. They would still have to file an adversary proceeding and the standard for "undue hardship" to get a student loan discharged is very high. It's traditionally been complete incapacitation, cannot work at all.
LINK
Posted on 4/22/25 at 3:30 pm to BBONDS25
quote:
That would require a judgement, right? As soon as there is a judgement it is dischargeable through bankruptcy. I think Trump is off on this one. I don’t think they will collect any more. They will just give those who defaulted an out after 7 years.
It is difficult, but not impossible, to discharge student loans in Bankruptcy. It’s not automatic like credit card debt or medical bills.
Posted on 4/22/25 at 3:32 pm to Major Dutch Schaefer
I totally agree but let's be honest, Biden set up a lot of people with this. It never should have been a thing.
Posted on 4/22/25 at 3:33 pm to Lightning
quote:
Regular bankruptcy won't discharge a student loan judgement. They would still have to file an adversary proceeding and the standard for "undue hardship" to get a student loan discharged is very high. It's traditionally been complete incapacitation, cannot work at all.
Agree. However…I think obtaining an actual court judgement changes the nature of the debt. Not positive…but I think it does. If it becomes a judgement it is dischargeable.
Posted on 4/22/25 at 3:36 pm to back9Tiger
quote:
I totally agree but let's be honest, Biden set up a lot of people with this. It never should have been a thing.
It was never a guarantee, many had more debt than the maximum forgiveness amount, and no one told them to stop paying. The interest free pause for two years(?) was a gift that many didn't jump on. Many of them replaced their paused loan payment with a new obligation. Idiots.
Posted on 4/22/25 at 3:39 pm to Big Jim Slade
Stepdaughter is lawyer specializing in bankruptcy. She tells clients slim to no chance of deleting student loan. All other debts can be addressed, but student loans...fu pay me says the government.
Posted on 4/22/25 at 3:40 pm to Wildcat1996
quote:
I can't really believe the feds have let this slide for so long. You don't pay your taxes, they come for you. Why in the world would a student loan be different?
This was a Biden bribe for votes. Nothing more, nothing less.
Posted on 4/22/25 at 3:43 pm to Lightning
quote:
Because there is a new sheriff in town (Linda McMahon)
Is that Vince McMahon's wife?
Like the pro wrestling guy?
Posted on 4/22/25 at 3:44 pm to BBONDS25
quote:
Agree. However…I think obtaining an actual court judgement changes the nature of the debt. Not positive…but I think it does. If it becomes a judgement it is dischargeable.
Thing is, they look at the underlying debt that created the judgment to determine if it can be discharged.
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