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Reload this Page Credit Card Debt Forever?
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Old 02-05-2015, 07:44 PM
 
18,547 posts, read 15,565,890 times
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Quote:
Originally Posted by City Guy997S View Post
Be very careful with this.....interest is still accruing (adding up)!

I have a friend who did this. He is a lawyer and owes more money in loans than he originally borrowed and has made payments now for 10 years! The forebearance ballooned the debt.
Even if he owes more than the original loans, inflation may mean he has actually made progress in real terms (or may not, depending on the numbers...)
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Old 02-05-2015, 10:13 PM
 
213 posts, read 237,511 times
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Quote:
Originally Posted by City Guy997S View Post
Be very careful with this.....interest is still accruing (adding up)!

I have a friend who did this. He is a lawyer and owes more money in loans than he originally borrowed and has made payments now for 10 years! The forebearance ballooned the debt.
I didn't take out law school debt haha. I took out the average debt for college. I wish I didn't have to pay them back
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