creative financing

[Wojtek Sokolowski]

At 05:00 PM 4/18/01 -0400, Doug speculated:
>Date: Wed, 18 Apr 2001 14:09:21 -0500
>From: Maureen Anderson <manders at uchicago.edu>
>
>>U.S. Student loans are not dischargeable through bankruptcy, default, attack
>>by space aliens, meteors hitting the planet, or anything else.   They -will-
>>track you down.
>
>Okay, but speaking _purely hypothetically_, and not in the _least_
>soliciting professional advice, what's to keep someone with huge
>student loan debt from paying it off with the even huger credit limit
>on her or his credit cards, and _then_ declaring bankkruptcy?
>
>Just hypothetically abstractly disinterestedly wondering.

Hypothetically, would not it be better to pay one student loans with one's
own money, no matter how meager, and then put all cost of living (rent,
clothes, groceries, etc.) on the plastic?  In such a case, would not it be
much easier to convince the bankruptcy judge that one struggled to survive
instead of looking like a scheme devised to swap a nondischargeable debt
for a dischargeable one?

Again, these are hypothetical questions and not and advice of any sort.

wojtek