StanleyZEN Posted September 8, 2021 Share Posted September 8, 2021 So I heard that in some cases, a debt can be forgiven. Is that true? I heard it was a possibility, but I never really looked into it, and so I figured, why not, make a topic. So here we are. Can some types of debt be forgiven? And if so, how is that even possible? 1 Quote Link to comment Share on other sites More sharing options...
James Posted September 9, 2021 Share Posted September 9, 2021 Bankruptcy would be a way to wash away your debt. I do not know much about it as it is a path I have never gone down. Debts in my mind should always be paid and their should be more of a punishment for piss poor financial planning. Yes there may be some edge cases in there but most of the time people and companies get themselves into these situations by over leveraging themselves. It is slower to grow if you just pay cash for everything but it is a much more conservative approach to life. Quote Link to comment Share on other sites More sharing options...
Scarlett Posted September 9, 2021 Share Posted September 9, 2021 Bankruptcy is the only method I know of. I don't think it is as bad as people think. Some family friend filed 3 times in his life. Not ideal but he still managed to get married, buy a house, and everything else. Bad money management seems to be his biggest flaw. 1 Quote Link to comment Share on other sites More sharing options...
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