DIY Debt Diversion

My dream is to live abroad and now I have one more reason to make that a reality. As everyone knows, student loans are a cement block that drown recent graduates, and as a person earning my JD and MBA, I will be no exception.

The traditional options for dealing with student loans are defer, pay, default, or die. I could stay in school forever and continue to defer my loans, I could pay $150,000, I could face the wrath of a collection agency, or I could die. None of those seem too appealing, so I found a more enjoyable solution: moving abroad.

With an international address, not only would I be spending my days strolling the Champs-Elysees, I would also be more difficult and expensive to find. To collect my payments, a collection company would have to hire international counsel or a third party debt collector, either of which would reduce their profit and, therefore, their incentive to find me.

I could never return to the US, but considering the current state of things, especially if Gramps and the Tramp (as my mom calls them) win, who would want to?

Bookmark and Share


Leave a Reply

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

You are commenting using your 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

%d bloggers like this: