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Stop Paying Your Student Loans CEPersVid-53

Millions of students are needlessly paying their student loans which are “under water” — ie, where the amount owed is greater than the value of the higher education purchased with the loans. Borrowers can’t earn enough to pay their student loans and pay for their reasonable living expenses. The borrowers should do what homeowners do when their mortgages are under water — which is to stop paying their loans, get into a court setting, and negotiate for a reduced loan (in principal amount as well as monthly interest). Attorney Carl Person also produced the first and successful video “Stop Paying Your Mortgage!”. Although government student loans are almost impossible to shed in bankruptcy, you can go into court by suing your banks to terminate the student loans on various legal grounds and expect to have an opportunity to settle your case in a way that eliminates or substantially reduces your loan, depending on the facts of your case. Get rid of student loans by stopping payment; suing the banks, and then settling the lawsuit. Stop being an economic slave to the banks.


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24 Responses to "Stop Paying Your Student Loans CEPersVid-53"

  1. 888hoosier says:
    Not exactly. You get a mortgage at an inflated price ( the housing bubble) and then prices drop so your home is worth much less than you paid for it. You lose your equity and with the economy you might either lose your job or have a pay reduction. Now what? Eat it. Big business btw, file for bankruptcy all the time.
  2. 888hoosier says:
    Carl, please give me the cases you have won or know that were won based on the information you are presenting in your video.
  3. LoonyVision says:
    This is bad advice. The courts are to make a record and only hear or recognize legally cognizable theories of law. Going in under what you’re suggesting will not force a bank to negotiate because the obligee (bank) will say that “the inability to pay because of financial hardship is not a defense to failure or refusal to perform the promised obligation, and the court will agree. A cognizable legal theory must be raised to survive a lawsuit. There’s a way, just not like THIS.
  4. tuxu14 says:
    I’m in. Can’t anyways. Once I realized I couldn’t and therefore wouldn’t, I started to enjoy life more. Things seemed brighter again.
  5. fatsmellymonkeyballs says:
    @hefland I will stop… ;)  just hoping other will also.
  6. saintgauden says:
    Good guys finish last in the US…don’t be tied to angelic, honorific morals…or they will be used against you (especially when it comes to money). Read your history…the banks are the honest man’s enemies almost always.
  7. saintgauden says:
    @carlpers2 I agree. The banks made a very bad professional business decision to loan unemployed teenagers/early 20-somethings tens of thousands of dollars. Our govt should not back up these loans; banks are filled with seasoned pros…you shouldn’t reward bad decisions in business! Young adults should not be enabled to make poor, life-long mistakes; unless they have jobs and the money to make them independently.
  8. saintgauden says:
    I agree. The banks made a very bad professional business decision to loan unemployed teenagers/early 20-somethings tens of thousands of dollars. Our govt should not back up these loans; banks are filled with seasoned pros…you shouldn’t reward bad decisions in business! Young adults should not be enabled to make poor, life-long mistakes; unless they have jobs and the money to make them independently.
  9. kblazkova2002 says:
    @clarkewi are you crazy…have you heard of 53%????
  10. gev2323 says:
    @Catgirl356 The bigger problem is it’s easier said than done. A lot of companies don’t want to negotiate with borrowers. There are some students that have to pay 1,000+ a month and it does happen a lot with private lenders. So how is someone who can’t find a good job (by no fault of their own) supposed to pay this massive amount? So they shouldn’t have spent 100k on school. Sure, that was bad. But they can’t even escape a bad choice through bankruptcy like with credit cards and other loans.
  11. dzyns says:
    @clarkewi dude, we are nyshec refugees from 1985. the pain, the hell, the illegal harrassment all from a 6 month period of unemployment, defaulting, 10+ yrs of tax refunds taken, 1998 or so random lawyer calls and scaring the crap out of me.

    long story short 2001 we were talked into ‘consolidating’ with direct loans…we only signed when we were told that we could negotiate the excessive fees and fines and 8% interest after we signed on.

    current loan amount $66,000 original $16,000 at 8.25%

  12. Catgirl356 says:

    This is one of our economy’s many problems. If you don’t value education, don’t get a loan for one. People who buy homes and cannot afford them get the home foreclosed upon. Yes there are terms and agreements that you sign when you enter into a mortgage agreement.
    The acceptance of the idea that the general public should just sue someone if they’re not happy, well that idea sickens me.

    You SHOULDN’T be happy, you OWE money!!!! Pay your debts! Set an example for big business!!

  13. hefland says:
    I wonder what would happen if everyone with student loans stopped paying all at once? That is a wet dream of mine.
  14. facelessstateofmind says:
    Sallie Mae is SCUM! STAY AWAY! They can garnish your wages, YOU CAN’T get out of these loans, not even in Bankruptcy! They own you and can get away with murder! PIGS! PIGS! PIGS! If you do not repay them before you die, they can garnish your estate! How can you sleep at night when American students are trying to better themselves? SHAME ON YOU SALLIE MAE!! please also google screw sallie mae, you will find a site dedicated to them! WAKE UP AMERICA private student loans SCAM!
  15. rsalek says:
    this is the first good thing Ive head. I have an unbelievable amount of student debt, and have shown nothing but willingess to pay but with no avail on their part.
  16. Moveontonumber2 says:
    Carl HERE THEY COME!!!  /watch?v=LMrvNmHbbbk
  17. Moveontonumber2 says:
    Administrative Wage Garnishment without oversight and discriminatory hearings rulings that are unfounded in statute, will in essence create usurious indentured servitude. Carl some of us want to pay it back… but default status actually takes fundamental rights away, as 50+ percent of your income is going straight to the Federal government. I’ll state this again, Original AWG 30k in 2008. To date I have paid 25K through AWG (3 years) I still owe 49K! Sent an email. A lawyer who gets it?
  18. videolover61 says:
    Thanks Carl…Your videos were the catalist for me to free my mind and to “capitalize” on the banks. clarkewi needs to make the hard choices instead of going the “status quo” way. Sometimes it just doesn’t pay…
  19. carlpers2 says:
    @videolover61 I agree with videolover61. clarkewi’s “honesty” is what the crooks depend on. He should look around and defend himself before he turns over his life to the banks. There’s no need for him to do this. Banks dishonor mortgage agreements every day (about 10,000,000 times each day), by unlawfully refusing to grant loan modification agreements in spite of their duty to negotiate fairly and in good faith. It’s time for clarkewi to “know what’s important” as you say.
  20. carlpers2 says:
    @clarkewi You may have obligations to pay rent, support a family, pay taxes, obey the law, and do a lot of things. If you don’t have the financial capacity to handle all that you have committed to, the U.S. Constitution provided relief in bankruptcy. However, in exchange for bank campaign contributions, this right was taken away from you. I’m showing you how you can use other laws and processes to end your nightmare, lawfully. Banks can sue you & vice versa. Don’t be an economic slave to banks.
  21. videolover61 says:
    I hear ya, but it’s too late for wishful thinking…time to prepare! It’s coming…it’s coming…soon…
  22. clarkewi says:
    @videolover61 You’ve got a point. Let’s pray that doesn’t happen! LOL.
  23. videolover61 says:
    Yeah I hear you…you’re an honest person…but you will pay it until the shit hits the fan!!!! no doubt about that, then you will finally know what’s important: your ass : )
  24. clarkewi says:
    A good concept. But as a matter of course, if I make an agreement, I feel obligated to honor it.

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