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My fiance collected a lot of debt before we got together.  She makes 34/year.  She is in chapter 13.  Ends next year.  Lawyer says she can file for chapter 7 to clear the rest next year.  Her loans are collecting a lot of interest.  She tells me she doesn't want to pay on them.  I see they can garnish her paycheck at 15%.  Well I pay all the bills and have encouraged her to do something about it eventually.  She literally has 250$ a month after chapter 13.  I know she has to go before a judge again or something at the end.

I don't see how they can just let her get away with paying that 15% when she can pay something.  What are her consequences?  Will they sue her for not trying?  What will happen if she doesn't do a payment plan and can?

Edit:  Apparently there is more debt after the chapter 13 is done, that is why she wants to do a chapter 7 afterwards.  I dont know all the details.

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I'm fairly certain that suites have much fewer beds per square foot of building as well. So you need more buildings and/... (more)

stanolshefski (Mar. 23, 2017 @ 4:44p) |

oh ok. how about the standard deduction? is THAT an entitlement program for people who don't itemize?

solarUS (Mar. 23, 2017 @ 5:17p) |

Good point.

I compared a new dorm to an old dorm on my alma mater.   They almost doubled in size.   But the price is 50% ... (more)

jerosen (Mar. 23, 2017 @ 5:52p) |

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seems like the biggest consequence would be you leaving her, If you had any sense in your head. Do you really wish to deal with that financial black hole the rest of your life? statistically it would probably end in divorce anyways, so i would say take a pass on this one.
 

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If you don't know her financial situation then she should not be your fiance.

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dasflux said:   My fiance collected a lot of debt before we got together.  She makes 34/year.  She is in chapter 13.  Ends next year.  Lawyer says she can file for chapter 7 to clear the rest next year.  Her loans are collecting a lot of interest.  She tells me she doesn't want to pay on them.  I see they can garnish her paycheck at 15%.  Well I pay all the bills and have encouraged her to do something about it eventually.  She literally has 250$ a month after chapter 13.  I know she has to go before a judge again or something at the end.

I don't see how they can just let her get away with paying that 15% when she can pay something.  What are her consequences?  Will they sue her for not trying?  What will happen if she doesn't do a payment plan and can?

Edit:  Apparently there is more debt after the chapter 13 is done, that is why she wants to do a chapter 7 afterwards.  I dont know all the details.


Run away. Far, far away.

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To answer your main question, it is really difficult to get student loans wiped away and really unlikely in this scenario since she has income.
dasflux said:   
  
RUN!!!!!!!!!!!!!!!!!!!!!

You need to get this entire issue addressed prior to getting married, or it will end in divorce. Mainly:

  • Her lack of financial literacy
  • Your complete difference of financial priorities

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Obligatory FW post. pics?

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It was an ex husband that screwed her with the bankruptcy shes in. He drained her. Lol. I mean the relationship is great. Can anyone answer the questions? What are the consequences and stuff? I figured worst case scenario I can shield her off. The relationship is great. I pay everything. Im in TN so the debt won't come my way period.

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Student loans can't get discharged in bankruptcy. It will stick for life. Lenders will garnish wages. Even social security can be garnished. Unpaid loans can stick around and haunt you decades later

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Shes told me the details, its just so much itemization it gives me a damn head ache.  The relationship is good. I have a great stable job.  I honestly told her just walk away and im take care of you.  They can't sue for what they can't get.

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Ya i know that.  But can she get away with just paying a 15% garnish at all?  They will come after her won't they if she can pay more right?

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If you are willing to pay the 100k+ interest for the sake of the relationship, then you are a better man than me.

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From my knowledge TN isnt a community property state.  Im just trying to find out the consequences.  Can she actually get away with a 15% garnish on her paycheck?  Please anyone?

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dasflux said:    Can she actually get away with a 15% garnish on her paycheck?  Please anyone?
 

  this question doesn't make sense.
get away with what?

We can't answer anything with the information you've provided.
I know she has "a lot of debt".
your title says 100k in student loan debt, but that's not in the original post.
how much of that 100k in student loan debt is backed by the government? What types of loans are they?
some, if not all of the student loan debt cannot be discharged, which means the federal government will keep taking her money until it's repaid.
 

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BNizzle said:   If you are willing to pay the 100k+ interest for the sake of the relationship, then you are a better man than me.

That's because you haven't seen pics.

I knew a guy who paid over 100k In student loans each for two ex-wives.

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Ok sorry.  Im concerned in the student loan debt.  Its at about 100k now.  It is federal.  So can she get away with only paying that 15% wage garnish the rest of her life out of her paycheck?  Or will they try to sue her?  I guess thats around 300 a month.  I don't like it...  but im not paying any of her debts if thats what your wondering.  She hasnt asked either.

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I have not been asked to pay her debts.  Nor am i volunteering.

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dasflux said:   From my knowledge TN isnt a community property state.  Im just trying to find out the consequences.  Can she actually get away with a 15% garnish on her paycheck?  Please anyone?
  
The biggest consequence is it will haunt her forever when she applies for jobs because some employers (especially the government) will not hire someone with delinquent student loans. 

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dasflux said:   It was an ex husband that screwed her with the bankruptcy shes in. He drained her. Lol.
  
Of course that is what she tells her next [s]victim[/s] husband.

(No, I'm serious.  Of course she makes herself out to be the innocent one.  Why don't you talk to the ex to get his side of the story.)[s][/s]

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dasflux said:   I have not been asked to pay her debts.  Nor am i volunteering.
  if you're going to marry her, eventually her lifelong financial obligations with either be your lifelong financial obligations, or they'll impact your ability to pay your lifelong financial obligations.
If you marry her, you're paying for it. If you're engaged, you've volunteered already

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Some rent-versus-buy comparisons are tough calls.  This one is not.

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it amazes me that no one has mentioned the Pay As You Earn / ObamaLoans stuff yet if these are all federal loans. If she has no income, her payments will be 0. You'll be married filing separately for the rest of your life, but its an option.

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haloseven said:   seems like the biggest consequence would be you leaving her, If you had any sense in your head. Do you really wish to deal with that financial black hole the rest of your life? statistically it would probably end in divorce anyways, so i would say take a pass on this one.
 OP-- I don't want to tell you to just run away, but if you don't have the same financial goals in life you will not be happy.

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I think OP raises an interesting question.

What are the lifelong consequences of this debt to the fiance?
What could OP do to shield himself from her debt if he does choose to marry her?

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juliox said:   it amazes me that no one has mentioned the Pay As You Earn / ObamaLoans stuff yet if these are all federal loans. If she has no income, her payments will be 0. You'll be married filing separately for the rest of your life, but its an option.
  
She's in default.     You can't qualify for the repayment plans in default.
 

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jerosen said:   I think OP raises an interesting question.

What are the lifelong consequences of this debt to the fiance?
What could OP do to shield himself from her debt if he does choose to marry her?

  consequences depend on the type of loan, which OP hasn't told us.
Likely $$$ garnished for the rest of OPs fiance's life
He'll never become legally liable for the debt and it will get discharged upon death. But he'll be liable for the financial burden of the debt. He could shield himself by always filing separate. If wife never works, she won't have to pay on it. but then he's shouldering the cost of a $100k "life insurance policy" (aka doesn't have to pay off 100k loans) by having a wife that never works even if she's able to and by not being able to claim tax benefits of married filing jointly.

 

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There is a common phrase of when you marry everything that is hers becomes yours and vice versa. I don't know if that holds true for debt responsibility (specifically, student loans).

That said, unless you want to join a side called stupidity - you would be best to keep fiancee at the fiancee level. I mean, unless you like playing with dynamite, whatever floats your boat.

Also if you're married filing separately your whole life have fun always taking the standard deduction.

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dasflux said:   Ok sorry.  Im concerned in the student loan debt.  Its at about 100k now.  It is federal.  So can she get away with only paying that 15% wage garnish the rest of her life out of her paycheck?  Or will they try to sue her?  I guess thats around 300 a month.  I don't like it...  but im not paying any of her debts if thats what your wondering.  She hasnt asked either.
 
Yeah, you're obviously way too young in life with answers like this. If you honestly believe that things will simply stay "her problem" through marriage - or what you won't be paying for "her debt" when married... then I honestly suggest you get some further education. You need it.

To put it simply at something you can understand: When your wife-to-be wants an extravagant wedding - whom do you think is going to pay for it? Both of you? When she wants a new cell phone, who is going to pay for it?

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imbatman said:   
jerosen said:   I think OP raises an interesting question.

What are the lifelong consequences of this debt to the fiance?
What could OP do to shield himself from her debt if he does choose to marry her?

  consequences depend on the type of loan, which OP hasn't told us.
Likely $$$ garnished for the rest of OPs fiance's life
He'll never become legally liable for the debt and it will get discharged upon death. But he'll be liable for the financial burden of the debt. He could shield himself by always filing separate. If wife never works, she won't have to pay on it. but then he's shouldering the cost of a $100k "life insurance policy" (aka doesn't have to pay off 100k loans) by having a wife that never works even if she's able to and by not being able to claim tax benefits of married filing jointly.

 

  

He did say its all federal loans if thats specific enough.

 

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One thing OP might not have realized is, just because the debts belong to her, after he is married, the creditors may think the debt is his.
Of course he can be like CN47 and sue them to heck to get them to stop, but they will be calling all the time and OP will be constantly explaining that the debt is not his.

And of course, if his Fiancee has debt after the student loans. Do OP think she is going to stop incurring new debt?

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She earns almost nothing, contributes zero to your budget, is in bankruptcy, has debt that will survive bankruptcy, and does not want to pay her bills.

Sounds like someone you want to spend the rest of your life with.

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hfzeusoply said:   She earns almost nothing, contributes zero to your budget, is in bankruptcy, has debt that will survive bankruptcy, and does not want to pay her bills.

Sounds like someone you want to spend the rest of your life with.

  
wondering if she'll stick around .. if he tells her, he too has $100K+ debt, and dead broke!  

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She can probably "get away" with the 15% garnishment and nothing else as long as she is okay with forever having bad credit, constant state of being in active collections, and never owning anything of value.
Make sure you don't have her name on anything. Home, car, bank accounts, etc. No joint tax return. They will go after these assets for repayment as well and the balance will continue to increase for her entire life (provided the 15% if not enough to cover the payments and interest).

However while she is in a Chapter 13 her student loan payments were brought current or suspended, depending on the approved plan. When she gets out of the Chapter 13 her student loans will be in a positive status. She is eligible for all payment arrangements that she can handle that will keep her from avoiding the lifetime of collections. This is a positive to the CH13 she has the opportunity to get back on track. I wouldn't throw it away.

Edit: Unless she somehow managed to obtain massive debt while in the CH13 (medical, etc) the CH7 afterwards probably doesn't make a lot of sense.  The CH13 will fall off her credit a year or two after everything is done and settled.  If you file a CH7 afterwards that is 10 more years.

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What degree did she get for the 100k?
What does she do for her income?
Pics?

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dasflux said:   Shes told me the details, its just so much itemization it gives me a damn head ache.  The relationship is good. I have a great stable job.  I honestly told her just walk away and im take care of you.  They can't sue for what they can't get.
  
I seriously question the judgment of someone who racks up $100k of debt, especially student loans, and only makes $34k a year.  I got it that she's your fiancé, but you gotta take the rose colored glasses off and see this for what it is.  You are about to marry someone who is incredibly financially irresponsible.

Finances are the #1 cause of divorce.  Remember that. 

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RailroadTrack said:   
dasflux said:   Shes told me the details, its just so much itemization it gives me a damn head ache.  The relationship is good. I have a great stable job.  I honestly told her just walk away and im take care of you.  They can't sue for what they can't get.
  
I seriously question the judgment of someone who racks up $100k of debt, especially student loans, and only makes $34k a year.  I got it that she's your fiancé, but you gotta take the rose colored glasses off and see this for what it is.  You are about to marry someone who is incredibly financially irresponsible.

Finances are the #1 cause of divorce.  Remember that. 

  #7 actually
Getting Married for the wrong reasons is #1.

http://www.huffingtonpost.com/yourtango/10-most-common-reasons-p...
 

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imbatman said:   
dasflux said:    Can she actually get away with a 15% garnish on her paycheck?  Please anyone?
  this question doesn't make sense.
get away with what?

We can't answer anything with the information you've provided.
I know she has "a lot of debt".
your title says 100k in student loan debt, but that's not in the original post.
how much of that 100k in student loan debt is backed by the government? What types of loans are they?
some, if not all of the student loan debt cannot be discharged, which means the federal government will keep taking her money until it's repaid.

  
With penalties and fees, the federal government will keep taking her money until it's repaid several times over or she dies, and then take it from her estate if there's anything there.  Which will be a shared estate with the OP.

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forbin4040 said:   One thing OP might not have realized is, just because the debts belong to her, after he is married, the creditors may think the debt is his.
Of course he can be like CN47 and sue them to heck to get them to stop, but they will be calling all the time and OP will be constantly explaining that the debt is not his.

And of course, if his Fiancee has debt after the student loans. Do OP think she is going to stop incurring new debt?

  
She will be a changed person after tying the knot with the OP.  The OP will surely change her.

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She has 100k in student loan debt. She doesn't have a job that justifies that student loan debt. She doesn't care about following through with her obligations. She's already been divorced and it wasn't amicable. These, my friend, are what some people like to call "Character Flaws."

Any particular reason you are overlooking these giant red flags when it comes to getting married? (I'm talking the size of the flags they fly in front of car dealerships!)

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Never want to get out of debt? Then stay with her. You're already paying for everything.

If probably when she gets out of debt. Any credit or cash that becomes available to her she'll spend it & more. Right back in the debt hole.

She will never pay you back or take on her fair share of the fiscal responsibilities. Never give you any part of any financial windfalls, paychecks or tax refunds that come to her.

Or so says my imaginary Magic 8 Ball.

Skipping 115 Messages...
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stanolshefski said:    I'm fairly certain that suites have much fewer beds per square foot of building as well. So you need more buildings and/or floors per building.
 

  
Good point.

I compared a new dorm to an old dorm on my alma mater.   They almost doubled in size.   But the price is 50% more for the larger dorms too.
Theres now a range of options from about $6k a year to over $10k.   

Iowa is planning a new dorm for ~1000 students which is 300k sq ft and spending $78M :   ($95M total including tearing down existing stuff apparently)
http://www.press-citizen.com/story/news/local/2015/02/24/univers... 

Thats about $78k per bed or $257 / sqft.

Found this on cost of building HIlton hotels : 
http://www.hiltonworldwide.com/assets/pdfs/cost-comparisons-nov-... 

Looking at the hotel construction costs, the amount Iowa is spending per bed is closer to what an embassy suites costs and about 25% higher per sqft.

Course this is just a couple data points.  I don't know what average dorm costs are.   

embassy suites are pretty nice...

Iowa has a range of housing costs from $4400 to $11k / year
https://housing.uiowa.edu/student-information/rates

Oregon's rates vary from ~11k to 20k depending on choices : 
http://housing.uoregon.edu/costs 

Unless the university has flat housing costs regardless of the specific dorm building, the new fancy costs aren't rising your costs since you can go for the cheaper option.
So it depends.  I dont' know if variable housing costs or flat housing costs are the norm or if its a wide mix of both.

 

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