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Originally Posted by aquariancore
I don't understand the financial thinking behind this as credit cards are the number one reason for the rise in college kids declaring bankruptcy.
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It's not necessarily the financial aspect that is the biggest pay off, when you look at the bigger picture. Remember, the laws regarding filing bankruptcy have changed. I just bet that its almost impossible for someone who is 21 to justify having to file bankruptcy now. The fact that they are young and there is a likelihood that their income will go up over the next 5 years will render bankruptcy almost impossible.