this post was submitted on 29 Nov 2024
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An interesting essay I read at some point: https://www.bitsaboutmoney.com/archive/the-waste-stream-of-consumer-finance/
Especially the following sentence:
Now, I donβt know how risky that would be and whether it also applies to student debt, but the system seems to be pretty wild, to say the least.
This would not be effective for student loan debt because it's still non-dischargable, unlike consumer debt.
You are correct, while rereading I also noticed that the essay is specifically talking about consumer debt. And for that it would probably not be helpful to ruin credit scores over a few hundred dollars, if one ever wanted to finance a house or something like that later in their life.