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re: Feds take single mom's $3,000 tax refund to cover her student loans
Posted on 4/24/19 at 11:53 am to SlowFlowPro
Posted on 4/24/19 at 11:53 am to SlowFlowPro
Didn't read the article, but she should have thought about that before she took out student loans to get some worthless degree. People just think student loans are free money.
1
Posted on 4/24/19 at 11:54 am to BilJ
yesterday i got called "Selfish" for asking what kind of money i get from paying off student debts when i paid off most of mine very early
Posted on 4/24/19 at 11:57 am to Murtown
quote:
Didn't read the article, but she should have thought about that before she took out student loans to get some worthless degree. People just think student loans are free money.
Right? As if the word "loan" isn't a clue.
Posted on 4/24/19 at 11:57 am to ellishughtiger
quote:
Here for the hot takes from the pipe fabricators of the OT
Oh, look, ellishugh trying to act superior to gainfully employed posters. I'm shocked...
Posted on 4/24/19 at 11:58 am to hottub
quote:
Not true at all. $1-2k extra year will most likely knock 5-7 years off an average mortgage.
Just make biweekly payments and knock 10 years off a 30 year mortgage.
Posted on 4/24/19 at 11:59 am to eScott
quote:
Just make biweekly payments and knock 10 years off a 30 year mortgage.
Just pay cash and knock 30 years off.
Posted on 4/24/19 at 11:59 am to CAD703X
quote:
Tax refunds are a lifeline for many people.
That poster needs to GTFO of here with that SJW bullshite. This junkie destitute, made her bed, now she has to lie on it.
Posted on 4/24/19 at 12:00 pm to SlowFlowPro
You didn't even post the most insane part, the other lady at the bottom of the article.
How do you have a car note but are in default on 18k in student loans? You're filing for bankruptcy so you can piss away your tax credit on summer camp? What if your creditors go after your car in bankruptcy court? What other assets can you lose? Seriously the most insane financial decision I've ever seen.
quote:
Akilah McCadney, a single mother of three in St. Louis, learned earlier this year that her tax refund would be seized by the government for her student loans. Thanks to her child and earned income tax credits, she was expecting more than $8,000.
With that money, she planned to pay off her car, replace her children's old mattresses and send them to summer camp. "I definitely need it," McCadney, 32, said. She has around $18,000 in student loans.
She reached out to Stanley Tate, a student loan lawyer, for help. Tate explained that she was unlikely to get the government to return her refund, since she was not at risk of foreclosure or eviction.
Desperate to still get her refund, McCadney filed for bankruptcy since the process temporarily suspends Treasury Department offsets. She received her refund after a month.
"It felt good," she said, although she's aware of the consequences
How do you have a car note but are in default on 18k in student loans? You're filing for bankruptcy so you can piss away your tax credit on summer camp? What if your creditors go after your car in bankruptcy court? What other assets can you lose? Seriously the most insane financial decision I've ever seen.
Posted on 4/24/19 at 12:01 pm to Muthsera
quote:
You didn't even post the most insane part
i actually just didn't make it that far
quote:
Desperate to still get her refund, McCadney filed for bankruptcy since the process temporarily suspends Treasury Department offsets. She received her refund after a month.
"It felt good," she said, although she's aware of the consequences
somehow i don't think she is (again)
Posted on 4/24/19 at 12:02 pm to Breauxsif
quote:
This junkie destitute,
The hatred towards poor people is funny here. I admittedly didn't read this article, but did it say she was a junkie?
For a frick ton of people, refunds are a lifeline. That doesn't mean it's smart or good or anything. It's just a fact though.
This post was edited on 4/24/19 at 12:04 pm
Posted on 4/24/19 at 12:03 pm to SlowFlowPro
She shouldn’t have give the Govt an interest free loan...
Because when you don’t pay back your loan from them, guess what, they don’t pay theirs back either
Because when you don’t pay back your loan from them, guess what, they don’t pay theirs back either
Posted on 4/24/19 at 12:03 pm to SlowFlowPro
Did I read that right that the average student loan holder in default has an average income of $29,000 or so a year?
Why in the ever living frick did they go to college and take out loans in the first place?
Why in the ever living frick did they go to college and take out loans in the first place?
Posted on 4/24/19 at 12:04 pm to Muthsera
quote:
Desperate to still get her refund, McCadney filed for bankruptcy since the process temporarily suspends Treasury Department offsets. She received her refund after a month.
quote:
"It felt good," she said
quote:
she's aware of the consequences
Posted on 4/24/19 at 12:04 pm to SlowFlowPro
Sounds like she is really good at making poor life decisions
Posted on 4/24/19 at 12:05 pm to Oilfieldbiology
quote:
Why in the ever living frick did they go to college and take out loans in the first place?
travel ball, participation award society mentality
Posted on 4/24/19 at 12:08 pm to fr33manator
quote:
I love a happy ending.
eta: Serious question, why did she let it go delinquent? Don't they offer forbearance?
This post was edited on 4/24/19 at 12:13 pm
Posted on 4/24/19 at 12:09 pm to SlowFlowPro
Damn you can kick a football through that gap.
Posted on 4/24/19 at 12:10 pm to SlowFlowPro
quote:
somehow i don't think she is (again)
Let's just start with the obvious - the 18k is still going to be in default next year. Is she just planning on filing Chapter 7 every April?
How many job and rent applications will she be turned down for after a credit check?
What bankruptcy judge would ever let someone do something so fricking stupid? If they seize $8k every year, the 18k is paid off in 2 with only minimal payments.
Posted on 4/24/19 at 12:10 pm to SlowFlowPro
its clear as day when you sign the promissory note.....Garnish her! No pity here....
Posted on 4/24/19 at 12:11 pm to SlowFlowPro
quote:
Tax refunds are a lifeline for many people.
This is stupid.
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