Okay, very we hope you will find sure your you to definitely getting figuratively speaking onto credit cards is actually a bad idea. But for specific, that isn’t the finish objective. What is the end goal you ask? Case of bankruptcy. Waiting, what? You are surprised you to definitely bankruptcy do actually be somebody’s objective? Your imagine case of bankruptcy was to be prevented without exceptions…?
The theory at the rear of this plan is due to that scholar fund usually aren’t released in bankruptcy. Yes, it occurs, but it is really rare. Handmade cards likewise, that is the sorts of topic you to will get discharged right through the day. So the tip will be to flow brand new fund so you’re able to handmade cards where you can make certain they are fall off. Even though it seems like an innovative workaround, it is an awful idea. For several reasons.
Student loan personal debt has been excused from personal bankruptcy even when it try reorganized otherwise refinanced through-other different credit.