Son’s dead but his debt is alive

While debts are to be repaid, this one seems like an undue hardship on a family with an income of about $22,000 a year.  The son who died was the first member of this family to attend university so there was a lot of hopes pinned on his success.  Like any parent, the father was prepared to do anything to help his son achieve his dream and co-signed a private student loan. The son is dead and the debt must be repaid. Unfortunately, in the USA student loans are exempt from bankruptcy.  The article below is an interesting read, I highly recommend you take a look at what can happen in life and learn the lesson here:

 

http://www.alternet.org/story/155887/grieving_father_struggles_to_repay_dead_son%27s_massive_student_loans?page=entire

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s