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Reply to "So my student loans are finally eligible for discharge "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why not just pay the debt you chose to assume?[/quote] Because you don't have to? Why would you pay money you don't owe?[/quote] Honor. Your word. You signed for that debt.[/quote] People are dishonest and they feel entitled that someone else or Govt is supposed to pay their debt when they assumed it. People get very resentful and angry because they got a degree after paying a lot of money and Govt is not helping them now. [/quote] Huh? The government issued the loans and the government provided a program to forgive them. There is nothing dishonest about it. OP consult with a tax professional because there may be a way to mitigate the tax impact. When I was in this position the rules on insolvency applied to me and I did not have to pay any taxes. There may also be ways to strategically time the discharge and get new debt (eg a mortgage or home equity loan) to get the tax break. [/quote]
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