Is it possible to take out another loan and use that to pay off the student loan, then declare bankruptcy for that new loan? I’m sure there must be a rule against this, I can’t be the first to think of it.
You have to find someone who would do so without collateral of some sort. Which you’re not likely to find so you’d lose that collateral in the bankruptcy proceedings. Even federal student loans are predatory.
They’re already talking about garnishing wages.
Is it possible to take out another loan and use that to pay off the student loan, then declare bankruptcy for that new loan? I’m sure there must be a rule against this, I can’t be the first to think of it.
You have to find someone who would do so without collateral of some sort. Which you’re not likely to find so you’d lose that collateral in the bankruptcy proceedings. Even federal student loans are predatory.