Student Loan Summary

Student Loan Summary - W hat are some future consequences...

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What are some future consequences of borrowing too much debt? Some future consequences of too much debt include falling behind on payments, getting a blemished credit history, having to pay too much for debts that you are not able to keep up with your basic needs. Feeling trapped in a job you hate because of all of your debts, being unable to save for retirement, and most seriously having to declare bankruptcy. When all your debts come crashing down on any person they break. Anyone can get to a point where they believe that it’s too much to keep up with. Then they get to “rock bottom” or file bankruptcy. After that you lose everything and when I say everything I mean it’s all gone your car, house, property, and any bank assets you may have had. It’s not a pretty site to be in, but when it all just falls on your head and you have no other option you got to do what is best for you. A bankruptcy stays on your credit report for 10 years, and can make it difficult to obtain credit, buy a home, get life insurance, or sometimes get a job. Still, it is a legal
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This note was uploaded on 05/08/2011 for the course ALL 101 taught by Professor Grecthem during the Spring '11 term at University of Phoenix.

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Student Loan Summary - W hat are some future consequences...

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