Debt Discharge Quotes

No pecuniary consideration is more urgent than the regular redemption and discharge of the public debt. On none can delay be more injurious or an economy of time more valuable

Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.

May the debt of the United States be discharged with speed and punctuality; and let not the people be deceived, by having the funds, established for that purpose, put to other uses.

And here a most heinous charge is made, that the nation has been burdened with unnecessary expenses for the sole purpose of preventing the discharge of our debts and the abolition of taxes.

But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.

Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.

..avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts, which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burthen, which we ourselves ought to bear.

No measure can be more desirable, whether viewed with an eye to its intrinsic importance, or to the general sentiment and wish of the Nation than to establish a systematic and effectual arrangement for the regular redemption and discharge of the public debt.

Omittance is no quittance.

Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.

I am relieved that I can pay back my school loans.