Omnipresence

ERROR: Earth.exe has crashed

No.

But if it did, it'd be funny to just take out a huge loan, use it to enjoy yourself, then when the money runs out, end your life, and the debt goes to a toxic relative to fuck up their life.

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But if I can't get a job due to debt how do they expect me to pay it? What a dumb system...

peopleproblems

Wait hold on

Wouldn't that mean that lenders have a vested interest in keeping borrowers alive especially if they have extreme net debt?

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They have a vested interest in their borrowers not dying. This manifests as not lending to people at increased risk rather than any kind of protective or preventive action.

DankOfAmerica

your loved ones

Bold of you to assume I have loved ones. My estate is getting split in half between two charities.

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That's true. I definitely agree that debt can be useful; I guess it's more the feeling of indebtedness that I wish didn't exist

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Keeping alive and quality of life are different things.

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In Germany there's a process that works that way ("Privatinsolvenz", personal bankruptcy).

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Except that the access to debt is a major reason housing and college costs have skyrocketed.

M137

This doesn't make any sense.

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It depends on the laws in each country. As long as creditors send reminders of the debt the debt will never disappear in my country. Unless you go personal bankruptcy. And that is both good/bad for you in the future.

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Depends on the state you live in.

First there is the debt collectors ability to sue to collect. This varies by state and the type of debt in the U.S.

Statute Of Limitations On Debt Collection By State

The statute of limitations on debt collection varies by state. Here’s a breakdown of how long it lasts in each of the 50 states.

Forbes Advisor (www.forbes.com)

The delinquency is on your credit report for 7 years. After that you can request it be removed.

Federally subsidized student loans have no end date. These can not be discharged. This is the top reason that school tuition rates have skyrocketed. The lenders can loan people with no income vast sums of money little to no risk.

I had a roommate in college who married a citizen of another country. He applied and got approval for a work visa in their spouses native country. Before they left they paid off their federal student loans with credit cards. Something like $20-25K. They also had private student loans of around $10K. They then moved out of the country and went delinquent on the debt. They ended up moving back to the U.S. around 15 years later. By that time their credit report was empty.

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Would be better without the 3rd panel

VeganPizza69 Ⓥ

Let me introduce you to:
::: spoiler spoiler
slavery
:::

ℍ𝕂-𝟞𝟝

That's kinda the point