Utah Republican, who has filed for bankruptcy protection multiple times, said ‘debt cannot be canceled.’

[Magnus]

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program​

Utah’s Rep. Burgess Owens will chair a congressional hearing on the Biden administration’s student loan forgiveness plan later this week.

The program, which cancels up to $20,000 of student loan debt for tens of millions of borrowers, is currently on hold pending a ruling from the Supreme Court.

In a press release, Owens telegraphed how the hearing would play out, arguing that President Joe Biden has no authority to cancel student debt unilaterally.

“Debt cannot be canceled, only transferred from those who borrowed to those who did not,” Owens said. “Creating an offramp for responsibility, driving up college costs, disincentivizing real loan reform, and forcing hard-working American taxpayers to pay for someone else’s loans is nothing more than a backdoor attempt at free college with abysmal implications for students, taxpayers, and our economy.”

During his first campaign in 2020, Owens was dogged by claims that he had filed for bankruptcy protection multiple times. Federal court records show Owens filed for bankruptcy five times. In 1991, Owens filed for Chapter 7 bankruptcy protection in New York. No court documents were available for this claim. In 2005, Owens again filed for Chapter 7 protection in Pennsylvania with creditors claiming $1.7 million in debts owed. The case was discharged in 2005 after over $200,000 was paid. The remaining three Chapter 13 filings by Owens were dismissed.

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program

Rep. Burgess Owens is set to lead a congressional hearing on President Joe Biden's student loan forgiveness program.

www.sltrib.com

 

[Ray From Cleveland]

Do you have a point with this topic? You leftists and your apples to oranges comparisons.

 

[mudwhistle]

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program​

Utah’s Rep. Burgess Owens will chair a congressional hearing on the Biden administration’s student loan forgiveness plan later this week.

The program, which cancels up to $20,000 of student loan debt for tens of millions of borrowers, is currently on hold pending a ruling from the Supreme Court.

In a press release, Owens telegraphed how the hearing would play out, arguing that President Joe Biden has no authority to cancel student debt unilaterally.

“Debt cannot be canceled, only transferred from those who borrowed to those who did not,” Owens said. “Creating an offramp for responsibility, driving up college costs, disincentivizing real loan reform, and forcing hard-working American taxpayers to pay for someone else’s loans is nothing more than a backdoor attempt at free college with abysmal implications for students, taxpayers, and our economy.”

During his first campaign in 2020, Owens was dogged by claims that he had filed for bankruptcy protection multiple times. Federal court records show Owens filed for bankruptcy five times. In 1991, Owens filed for Chapter 7 bankruptcy protection in New York. No court documents were available for this claim. In 2005, Owens again filed for Chapter 7 protection in Pennsylvania with creditors claiming $1.7 million in debts owed. The case was discharged in 2005 after over $200,000 was paid. The remaining three Chapter 13 filings by Owens were dismissed.

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program

Rep. Burgess Owens is set to lead a congressional hearing on President Joe Biden's student loan forgiveness program.

www.sltrib.com

You do understand that filing bankruptcy doesn't erase your debt, right?

All it does is prevent creditors from charging more interest on whatever you owe. You still have to pay court fees and pay thru the nose to pay everything off.

I filed bankruptcy when my wife got Dementia and stopped making payments on our property loans. It kept the bank from taking my properties while I was in the process of selling everything.

 

[tyroneweaver]

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program​

Utah’s Rep. Burgess Owens will chair a congressional hearing on the Biden administration’s student loan forgiveness plan later this week.

The program, which cancels up to $20,000 of student loan debt for tens of millions of borrowers, is currently on hold pending a ruling from the Supreme Court.

In a press release, Owens telegraphed how the hearing would play out, arguing that President Joe Biden has no authority to cancel student debt unilaterally.

“Debt cannot be canceled, only transferred from those who borrowed to those who did not,” Owens said. “Creating an offramp for responsibility, driving up college costs, disincentivizing real loan reform, and forcing hard-working American taxpayers to pay for someone else’s loans is nothing more than a backdoor attempt at free college with abysmal implications for students, taxpayers, and our economy.”

During his first campaign in 2020, Owens was dogged by claims that he had filed for bankruptcy protection multiple times. Federal court records show Owens filed for bankruptcy five times. In 1991, Owens filed for Chapter 7 bankruptcy protection in New York. No court documents were available for this claim. In 2005, Owens again filed for Chapter 7 protection in Pennsylvania with creditors claiming $1.7 million in debts owed. The case was discharged in 2005 after over $200,000 was paid. The remaining three Chapter 13 filings by Owens were dismissed.

Rep. Burgess Owens to lead congressional hearing on ‘unlawful’ student loan forgiveness program

Rep. Burgess Owens is set to lead a congressional hearing on President Joe Biden's student loan forgiveness program.

www.sltrib.com

Where Burgess Owens is a Mormon, he is still subject to church discipline over a bankruptcy.. If he owes someone money; he is expected to pay it back

 

[Magnus]

You do understand that filing bankruptcy doesn't erase your debt, right?

All it does is prevent creditors from charging more interest on whatever you owe. You still have to pay court fees and pay thru the nose to pay everything off.

I filed bankruptcy when my wife got Dementia and stopped making payments on our property loans. It kept the bank from taking my properties while I was in the process of selling everything.

Actually, bankruptcy does erase your debt. It does wipe out your mortgage obligation although if you want to keep your property, you need to continue making payments. You even state that in your post. Not sure what it is you don't get.

This is the advantage that the Republican Congressman has taken advantage of (several times, according to news reports) and yet is denying that same advantage to others.

 

[Magnus]

Where Burgess Owens is a Mormon, he is still subject to church discipline over a bankruptcy.. If he owes someone money; he is expected to pay it back

"Expected to". Keywords. What happens if he does not? How is he punished?

Compare that to the secular world - where you may be subjected to lawsuits etc.

 

[Meister]

Moved to the Law and Justice forum

 

[Magnus]

Do you have a point with this topic? You leftists and your apples to oranges comparisons.

Hypocrisy. One law for thee. Another one for me. Let me know if you are still confused.

 

[mudwhistle]

Actually, bankruptcy does erase your debt. It does wipe out your mortgage obligation although if you want to keep your property, you need to continue making payments. You even state that in your post. Not sure what it is you don't get.

This is the advantage that the Republican Congressman has taken advantage of (several times, according to news reports) and yet is denying that same advantage to others.

Bullshit.
Bankruptcy simply protects you from having your property taken by the bank while you attempt to pay back what you owe.
It doesn't erase your debt. You still have to pay thru the nose to a court appointed trustee.

 

[Magnus]

Bullshit.
Bankruptcy simply protects you from having your property taken by the bank while you attempt to pay back what you owe.
It doesn't erase your debt. You still have to pay thru the nose to a court appointed trustee.

How about credit card loans? I have never filed for bankruptcy so I don't have first-hand knowledge.

But from what I read -
When facing financial difficulties, it's essential to know what happens in bankruptcy before deciding to file a bankruptcy case. There's no doubt that if you're experiencing severe debt problems, filing for bankruptcy can be a powerful remedy. It stops most lawsuits, wage garnishments, and other collection activities. It also eliminates many types of debt, including credit card balances, medical bills, personal loans, and more.

What Bankruptcy Can and Cannot Do

Bankruptcy will stop most collection actions and can get rid of many debts. But it won’t wipe out most taxes, support arrearages, fraud debt, and student loans.

www.nolo.com

 

[mudwhistle]

How about credit card loans? I have never filed for bankruptcy so I don't have first-hand knowledge.

But from what I read -
When facing financial difficulties, it's essential to know what happens in bankruptcy before deciding to file a bankruptcy case. There's no doubt that if you're experiencing severe debt problems, filing for bankruptcy can be a powerful remedy. It stops most lawsuits, wage garnishments, and other collection activities. It also eliminates many types of debt, including credit card balances, medical bills, personal loans, and more.

What Bankruptcy Can and Cannot Do

Bankruptcy will stop most collection actions and can get rid of many debts. But it won’t wipe out most taxes, support arrearages, fraud debt, and student loans.

www.nolo.com

I have filed for bankruptcy.....and the first thing I had to do was come up with $50,000 that I had to pay to the trustee even before I had been approved.
Bankruptcy just gives you a breather and prevents creditors from taking your home and your property.

 

[Magnus]

I have filed for bankruptcy.....and the first thing I had to do was come up with $50,000 that I had to pay to the trustee even before I had been approved.
Bankruptcy just gives you a breather and prevents creditors from taking your home and your property.

For mortgage loans, yes. But, how about credit card loans? Medical bills? Personal loans?

As the link, I provided above states - Filing for bankruptcy eliminates many types of debt. But one of the things that filing for bankruptcy does not eliminate is... wait for it... student loans.

And that is what this thread is about. Let me know if you are still confused.

 

[mudwhistle]

For mortgage loans, yes. But, how about credit card loans? Medical bills? Personal loans?

As the link, I provided above states - Filing for bankruptcy eliminates many types of debt. But one of the things that filing for bankruptcy does not eliminate is... wait for it... student loans.

And that is what this thread is about. Let me know if you are still confused.

There's a reason why they don't cover those. Because they don't involved equity.
If there's nothing at risk, you don't qualify, and you shouldn't qualify, because doing so would only cause people to run up ever-increasing debt.

Some kids never learn to maintain a budget.
So they sometimes end up losing everything because of drug use or other factors.
This is just Democrats pushing a form of reparations down our throats to buy votes.
Get a bunch of kids to run up ed-loan debt by taking classes they have no intention of passing much less completing.
And the people who would benefit the most in student loan forgiveness would be the rich.
You seem to have forgotten that little aspect of it.

 

[Ray From Cleveland]

Hypocrisy. One law for thee. Another one for me. Let me know if you are still confused.

Sounds like you're the confused one here. Bankruptcies do not put us a half-trillion dollars more in debt. You are saying that personal or professional matters (such as owning a business) are the same as taxpayers bailing out people who took loans out they don't want to repay.
We elect representatives to act on our concerns, not use their problems to pass policy or legislation. Again, apples and oranges.

 

[HeyNorm]

Do you have a point with this topic? You leftists and your apples to oranges comparisons.

He’s trying to claim that an adult, taking out a student loan can’t possibly have understood the long term ramifications of taking on huge debt.

Then he will tell you a 13 year old knows the ramifications of having its dick cut off.

It’s what liberals do afterall.

 

[HeyNorm]

For mortgage loans, yes. But, how about credit card loans? Medical bills? Personal loans?

As the link, I provided above states - Filing for bankruptcy eliminates many types of debt. But one of the things that filing for bankruptcy does not eliminate is... wait for it... student loans.

And that is what this thread is about. Let me know if you are still confused.

Or tax debts.

 

[Ray From Cleveland]

He’s trying to claim that an adult, taking out a student loan can’t possibly have understood the long term ramifications of taking on huge debt.

Then he will tell you a 13 year old knows the ramifications of having its dick cut off.

It’s what liberals do afterall.

At this point during the debate I say we need a law that nobody can attend college until the age of 21. Some of these kids don't really understand the concept of borrowing money. Furthermore many have no idea what they want to attend college for, but just attend college for something.

If kids were not allowed to go to college until the age of 21, they could live at home while working full time, save every dime possible, and if they still desire to go to college, have enough cash so this doesn't become a problem for us ever again. They may still have to take out loans but those loans will be for a much smaller amount not requiring the government to get involved in anything. Plus it would give a young person exposure to the working world to help them decide which direction they wish to go in life. You mature and learn quite a bit between the ages of 18 and 21.

The problem is DumBama had government takeover school loans instead of letting the bank handle them. Now we are battling going another near half-trillion in debt to bail them out and allow Democrats to buy votes with our money.

 

[Magnus]

There's a reason why they don't cover those. Because they don't involved equity.
If there's nothing at risk, you don't qualify, and you shouldn't qualify, because doing so would only cause people to run up ever-increasing debt.

Some kids never learn to maintain a budget.
So they sometimes end up losing everything because of drug use or other factors.
This is just Democrats pushing a form of reparations down our throats to buy votes.
Get a bunch of kids to run up ed-loan debt by taking classes they have no intention of passing much less completing.
And the people who would benefit the most in student loan forgiveness would be the rich.
You seem to have forgotten that little aspect of it.

LOL You are on record claiming you had to file for bankruptcy due to family challenges and yet... here you are sitting on judgment on everybody else with similar financial issues.

How do you know that every single one of those who have issues with student loans is because they are a bunch of degenerates? Maybe they too have family issues.

But coming to the Utah Congressman. What's his excuse? One-time business issues? Sure? But over and over again? How come you have no issue with that?

As for students not putting up collateral? Neither do people with medical bills, credit card loans, etc, and yet - their debt will be forgiven if they declare bankruptcy.

Let me know if you are still confused.

 

[Magnus]

He’s trying to claim that an adult, taking out a student loan can’t possibly have understood the long term ramifications of taking on huge debt.

Then he will tell you a 13 year old knows the ramifications of having its dick cut off.

It’s what liberals do afterall.

How about an adult who declares a series of bankruptcies like the Republican Congressman? Did he know the ramifications of taking on huge debt?

Typical right-wing retards. Long on hypocrisy. Short on solutions. But hey, keep focusing on 13 year old's dick. Fucking pervert.

 

[Magnus]

At this point during the debate I say we need a law that nobody can attend college until the age of 21. Some of these kids don't really understand the concept of borrowing money. Furthermore many have no idea what they want to attend college for, but just attend college for something.

If kids were not allowed to go to college until the age of 21, they could live at home while working full time, save every dime possible, and if they still desire to go to college, have enough cash so this doesn't become a problem for us ever again. They may still have to take out loans but those loans will be for a much smaller amount not requiring the government to get involved in anything. Plus it would give a young person exposure to the working world to help them decide which direction they wish to go in life. You mature and learn quite a bit between the ages of 18 and 21.

The problem is DumBama had government takeover school loans instead of letting the bank handle them. Now we are battling going another near half-trillion in debt to bail them out and allow Democrats to buy votes with our money.

How about a law that no one benefits? You default on a loan, you go to prison. No matter if you are a businessman, a congressman, or any other kind of dickhead.

I can live with that. Can you?