Getting 12 percent of my student debt erased

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MrBonita

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Anyone tried this. It seems legit. I will gladly pay 300 bucks to get 12 percent of my student loans erased. I have yet to try this but has anyone? What if I come to court looking like a bum and refuse to pay loans? Will that be enough you think? Damn loans suck.

Pricing

Lexria's pricing model is designed to take risk off you. Learn about our Fresh Start Guarantee, and how it makes student loan debt relief more accessible.
www.resetbutton.com www.resetbutton.com
 
MrBonita said:
Anyone tried this. It seems legit. I will gladly pay 300 bucks to get 12 percent of my student loans erased. I have yet to try this but has anyone? What if I come to court looking like a bum and refuse to pay loans? Will that be enough you think? Damn loans suck.

Pricing

Lexria's pricing model is designed to take risk off you. Learn about our Fresh Start Guarantee, and how it makes student loan debt relief more accessible.
www.resetbutton.com www.resetbutton.com
Click to expand...

I think 12% eliminated is their coverage cost... aka if they eliminate $100K in debt, you pat them $12K (+300 upfront)
 
Basically....it appears you file for bankruptcy, and they work with your bankruptcy attorney to file adversarial proceedings re: your student loans which take up a lot more time/resources than a typical bk attorney is capable of doing.

it’s like pre-outsourcing adversarial proceedings, which is how you attempt to discharge student loan debt in bk court.

They probably help venue shop, too.


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Here’s a better article, interesting business model, though.


apple.news

Reset Button is approaching student debt from a new angle — TechCrunch

Student loan debt in the U.S. totals $1.5 trillion, and more than 44 millionAmericans have outstanding student loan debt.According to research by Villanova law professor Jason Iuliano, a millionstudent loan debtors have filed for bankruptcy in the past five years.However, 99.9% of them did not...
apple.news apple.news


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confettiflyer said:
Here’s a better article, interesting business model, though.


apple.news

Reset Button is approaching student debt from a new angle — TechCrunch

Student loan debt in the U.S. totals $1.5 trillion, and more than 44 millionAmericans have outstanding student loan debt.According to research by Villanova law professor Jason Iuliano, a millionstudent loan debtors have filed for bankruptcy in the past five years.However, 99.9% of them did not...
apple.news apple.news


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Click to expand...
The comments are good
 
pencilandpen said:
have not tried it, but I do remember someone telling me if something sounds too good to be true, then it probably is too good to be true.
you took the money and used it, don't you think you should pay it back?
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I agree with this.. However I have found myself starting to move slightly to the left on the issue.

My eyes have been opened to the unreasonable circumstance that has been created surrounding student loans. Things got out of control when it comes to predatory tuition prices, unreasonable interest rates, and the lack of regulation of greed associated with student loan access...

I think that the loan should be paid back, but only the principle balance.
 
JustFillIt said:
I agree with this.. However I have found myself starting to move slightly to the left on the issue.

My eyes have been opened to the unreasonable circumstance that has been created surrounding student loans. Things got out of control when it comes to predatory tuition prices, unreasonable interest rates, and the lack of regulation of greed associated with student loan access...

I think that the loan should be paid back, but only the principle balance.
Click to expand...

That's like saying the price of a Lamborghini is predatory. It's no secret that it costs $200k just like it's no secret that pharmacy school costs $200k. No one forces students to go to expensive schools, they choose to.

My mortgage is out of control, can someone erase that debt for me too? The price of my house was predatory.

I refinanced my student loans to under 3%, that's a better rate than any kind of loan out there. It was easy to pay down the loans in under 3 years, there's no excuse for pharmacists to complain about student loan debt.
 
mentos said:
That's like saying the price of a Lamborghini is predatory. It's no secret that it costs $200k just like it's no secret that pharmacy school costs $200k. No one forces students to go to expensive schools, they choose to.

My mortgage is out of control, can someone erase that debt for me too? The price of my house was predatory.

I refinanced my student loans to under 3%, that's a better rate than any kind of loan out there. It was easy to pay down the loans in under 3 years, there's no excuse for pharmacists to complain about student loan debt.
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I get it - it’s just my opinion though and I am not trying to diminish the other side of the argument. I feel differently about public education and health care. I certainly do not think it should be socialized. But I do believe that regulation of tuition and being liable to pay back the principle amount is appropriate for public education.

The sad truth is, not everyone is perfect, and not everyone is able to appropriately manage what exactly they are getting into when it comes to student loans. I hate to say it but human nature (and perhaps a little bit of stupidity) is at play here and in my mind it’s more complicated than just saying - “buck up and pay that **** back”.

The reset button should be a compromise to say - everyone pays back the principle amount of their loans and then heavy regulation of public education tuition should follow along with loan caps and elimination of excess refunds. Again this is just my opinion and I will continue to pay mine like everyone else.
 
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mentos said:
That's like saying the price of a Lamborghini is predatory. It's no secret that it costs $200k just like it's no secret that pharmacy school costs $200k. No one forces students to go to expensive schools, they choose to.

My mortgage is out of control, can someone erase that debt for me too? The price of my house was predatory.

I refinanced my student loans to under 3%, that's a better rate than any kind of loan out there. It was easy to pay down the loans in under 3 years, there's no excuse for pharmacists to complain about student loan debt.
Click to expand...

I went to a private school, had 6 figures in student loan. I worked hard and paid it off in a few years. It wasn’t difficult but when I entered pharmacy school, admission standards were high and a lot of people got rejected causing a low supply of pharmacists.

This is the problem with accepting subpar students. Whether it is pharmacy, dental or arts school, they are not going to do well because it is about supply and demand. More graduates means more competition in the job market. Who usually get left behind? The subpar students. They are then going to blame everyone else because they system is “predatory”. But if you restrict who gets accepted and who doesn’t , then the system is “unfair”. It comes down to supply and demand.
 
BMBiology said:
I went to a private school, had 6 figures in student loan. I worked hard and paid it off in a few years. It wasn’t difficult but when I entered pharmacy school, admission standards were high and a lot of people got rejected causing a low supply of pharmacists.

This is the problem with accepting subpar students. Whether it is pharmacy, dental or arts school, they are not going to do well because it is about supply and demand. More graduates means more competition in the job market. Who usually get left behind? The subpar students. They are then going to blame everyone else because they system is “predatory”. But if you restrict who gets accepted and who doesn’t , then the system is “unfair”. It comes down to supply and demand.
Click to expand...

Um..... subpar students will not get left behind. Chains want hard workers not the smartest pharmacists.
 
mentos said:
That's like saying the price of a Lamborghini is predatory. It's no secret that it costs $200k just like it's no secret that pharmacy school costs $200k. No one forces students to go to expensive schools, they choose to.

My mortgage is out of control, can someone erase that debt for me too? The price of my house was predatory.

I refinanced my student loans to under 3%, that's a better rate than any kind of loan out there. It was easy to pay down the loans in under 3 years, there's no excuse for pharmacists to complain about student loan debt.
Click to expand...
Mind sharing how you got to 3%? still trying to figure out how to get number that low.
 
mentos said:
My mortgage is out of control, can someone erase that debt for me too? The price of my house was predatory.
Click to expand...

Your mortgage paperwork already has a mechanism for that. Both you and the bank contractually agreed on it when you signed.

Interesting note, though... when the government is the lender, the government of a republic is technically comprised of every vote cast in an election, so that’s how one can change the terms of said loan.

One can theoretically do that with, say, Bank of America by purchasing all available outstanding shares (poison pill provision aside), electing a forgiveness-friendly board, and forgiving all of their portfolio loans that were not securitized.

The former being infinitely more likely than the latter.


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CarbmonstaRX said:
Mind sharing how you got to 3%? still trying to figure out how to get number that low.
Click to expand...

I refinanced with DRB (think they're called Laurel Rd now) then again with Commonbond. Both were variable rates but I paid them off aggressively so it didn't matter. Shop around. I also referred a couple friends which was a nice $200 bonus per person.
 
confettiflyer said:
Your mortgage paperwork already has a mechanism for that. Both you and the bank contractually agreed on it when you signed.
Click to expand...

CaNvWa farm said:
Is this something that happened in 2008? Foreclosure?
Click to expand...

When you foreclose, they take your house away. If people have their student loans forgiven then they should have their degrees taken away.
 
mentos said:
When you foreclose, they take your house away. If people have their student loans forgiven then they should have their degrees taken away.
Click to expand...

I wouldn't necessarily take away their degree since that tends to reduce their earning power. There are exceptions though such as PharmDs which do little or nothing to increase your earning power nowadays.

But definitely collect payments in every way possible in one way or another. Garnish wages, levy bank accounts, unleash collectors, etc. If they need to pay back the debt with their social security then so be it.
 
BMBiology said:
Do you want a doctor who can't even get a 3.0 to take care of your family?
Click to expand...

When did I say that?

All I said was I didn't agree that subpar pharmacy students would get left behind after graduating. Afterwards, as long as they are hard workers they will actually do better then the intelligent ones, at least in retail.

I could care less if I have a dumb pharmacist, the computer won't let them screw up. They may not be able to answer questions though without looking it up.
 
mentos said:
When you foreclose, they take your house away. If people have their student loans forgiven then they should have their degrees taken away.
Click to expand...
I remember one of my friends bought a house @400k, I think, down payment 100k, borrowed 300K, then when it went up a bit, I guess 500k, she took out the 2nd mortgage, borrowed about 80k more. Then in 2008 or 2009, house price crashed. They went under water and stopped making payment for a year or longer then the bank finally kicked them out of the house.
I mean I'm about to graduate and if I can't find a pharmacist job for about one or two years, I don't mind having my degree taken away, lol and they let me stop making payment 🙂
Ppl who can't pay back have useless degree.
 
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stoichiometrist said:
I wouldn't necessarily take away their degree since that tends to reduce their earning power. There are exceptions though such as PharmDs which do little or nothing to increase your earning power nowadays.
Click to expand...
Yeah, with PharmD degree, you can work as a pharmacist or work minimum wage job. I'm trying to find something in between but it looks like there's no pharmacy-related job or job using pharmD degree?
 
wagrxm2000 said:
When did I say that?

All I said was I didn't agree that subpar pharmacy students would get left behind after graduating. Afterwards, as long as they are hard workers they will actually do better then the intelligent ones, at least in retail.

I could care less if I have a dumb pharmacist, the computer won't let them screw up. They may not be able to answer questions though without looking it up.
Click to expand...
Yeah, what I read in NYT yesterday:
"The complaint states that on the day of the error involving the anticonvulsant medication, the pharmacist on duty was responsible for checking 194 prescriptions in a six-hour shift — about one every two minutes.
After the mistake was reported to the pharmacy board, an investigator for the state checked 200 prescriptions at the Owasso pharmacy for accuracy and found a 9.5 percent error rate, according to the complaint..."


With that schedule and workload, error rate, who has time to take care of patients' health?
All they care is pumping out as many prescriptions as possible. They don't even care about errors.
 
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mentos said:
When you foreclose, they take your house away. If people have their student loans forgiven then they should have their degrees taken away.
Click to expand...

You mean unlearn something? Lol, you sound like the CA Board of Pharmacy, which made being unable to forget something you saw a crime

Difference here though is that the house was never yours to begin with, and you agreed to it being taken away from your use when signing.

The beauty of a government student loan is flexibility of payments, the ability to sign up for the most generous plans in effect, up to and including zero, and that we knew about that when signing. Pushing loan forgiveness is just the ultimate extension of an aggressive negotiation.

Even Trump proposed 5% IBR/PAYE over 30 years.


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wagrxm2000 said:
Do people that go to Starbucks daily have a high IQ?

I would argue no..... Even if they actually do
Click to expand...

This may have more to do with laziness and general and lack insight than anything. This may have more to do with how they were raised, and their expectations regarding entitlement than it does their IQ.

Some people just don’t get it... IQ has a lot to do with spatial reasoning and the ability to think critically. These things are separate issues.

Many many years ago, like about 20 years ago - I used to stop every morning at 6am to buy a 3 dollar hot chocolate from a Starbucks (I do not drink coffee). I did it because I truly looked forward to my time where I got to sit down and study and drink some HC. It was some high quality quiet time and I just enjoyed it. However I did not put 2 and 2 together about how much money I was spending. I was young and I just didn’t get it. I just felt like I was entitled to make this decision for myself and I did not fully grasp the concept that I was doing something quite stupid. Later in life I started filling a thermos with some freaking Swiss miss - and I found my time was just as quality..

Anyways - this has a lot to do with how you were raised and the expectations you have for the world. Sometimes you gotta learn as you go.
 
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JustFillIt said:
This may have more to do with laziness and general and lack insight than anything. This may have more to do with how they were raised, and their expectations regarding entitlement than it does their IQ.

Some people just don’t get it... IQ has a lot to do with spatial reasoning and the ability to think critically. These things are separate issues.

Many many years ago, like about 20 years ago - I used to stop every morning at 6am to buy a 3 dollar hot chocolate from a Starbucks (I do not drink coffee). I did it because I truly looked forward to my time where I got to sit down and study and drink some HC. It was some high quality quiet time and I just enjoyed it. However I did not put 2 and 2 together about how much money I was spending. I was young and I just didn’t get it. I just felt like I was entitled to make this decision for myself and I did not fully grasp the concept that I was doing something quite stupid. Later in life I started filling a thermos with some freaking Swiss miss - and I found my time was just as quality..

Anyways - this has a lot to do with how you were raised and the expectations you have for the world. Sometimes you gotta learn as you go.
Click to expand...

You didn’t know $3 x 365 days = a lot of money?
 
BMBiology said:
You didn’t know $3 x 365 days = a lot of money?
Click to expand...

Oh thanks BM for breaking that down form me. However that’s not it - I think I just didn’t give a ****...

Does that make me a better person in your eyes? Or do I continue to become lesser than you because I did not care about 3 dollars a day 20 years ago?

My intention is not to justify the behavior. My intention is to shed light on the fact that human nature is at play here and it has nothing to do with IQ.

You may have it all figured out - in fact I’m guessing that you came out of the womb walking on the amniotic fluid... But not everyone is as exalted as you.
 
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JustFillIt said:
Oh thanks BM for breaking that down form me. However that’s not it - I think I just didn’t give a ****...

Does that make me a better person in your eyes? Or do I continue to become lesser than you because I did not care about 3 dollars a day 20 years ago?
Click to expand...

It is your money. You can do whatever you want but I just find it incredible that you didn’t know spending $3/day can really add up.
 
BMBiology said:
It is your money. You can do whatever you want but I just find it incredible that you didn’t know spending $3/day can really add up.
Click to expand...

I know - I’m extraordinary like that.
 
Seriously, no one forces people to take student loans..... just pay back the debt you have, they are not asking for all of it back...its just paying monthly payments for a choice you have made.
 
CaNvWa farm said:
Yeah, what I read in NYT yesterday:
"The complaint states that on the day of the error involving the anticonvulsant medication, the pharmacist on duty was responsible for checking 194 prescriptions in a six-hour shift — about one every two minutes.
After the mistake was reported to the pharmacy board, an investigator for the state checked 200 prescriptions at the Owasso pharmacy for accuracy and found a 9.5 percent error rate, according to the complaint..."


With that schedule and workload, error rate, who has time to take care of patients' health?
All they care is pumping out as many prescriptions as possible. They don't even care about errors.
Click to expand...

This logic is flawed.

No one is checking a prescription a minute.

We are checking 20 scripts in a couple minutes then doing something else, eventually coming back and checking another 20 in a couple of minutes
 
Sleepingdoc said:
Seriously, no one forces people to take student loans..... just pay back the debt you have, they are not asking for all of it back...its just paying monthly payments for a choice you have made.
Click to expand...

Yup - this is what I do..
 
confettiflyer said:
Even Trump proposed 5% IBR/PAYE over 30 years.


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Click to expand...
I thought his proposal was 15% over 15 years which I don't like.
I prefer the current REPAYE 10% over 25 years.
The current IBR/PAYE is 10% over 20 years.
If it is 5% over 30 years, that'll be great!!!
 
Last edited by a moderator:
CaNvWa farm said:
I thought his proposal was 15% over 15 years which I don't like.
I prefer the current REPAYE 10% over 25 years.
The current IBR/PAYE is 10% over 20 years.
If it is 5% over 30 years, that'll be great!!!
Click to expand...

However - typically these programs only apply “going forward”. If you are on an older program like PAYE I would guess that we will be locked in..
 
JustFillIt said:
However - typically these programs only apply “going forward”. If you are on an older program like PAYE I would guess that we will be locked in..
Click to expand...
I thought you can switch the plan any time you want. But you don't want to do that because every time you switch plan, the interest capitalizes.
I'm not sure about the years/period, meaning they start to count another 20 years. Like if I'm on REPAYE for 5 years and decide to switch to PAYE, will they start to count all over again, meaning I have to do 20 years again or do I only have to do another 15 years.
 
CaNvWa farm said:
I thought you can switch the plan any time you want. But you don't want to do that because every time you switch plan, the interest capitalizes.
I'm not sure about the years/period, meaning they start to count another 20 years. Like if I'm on REPAYE for 5 years and decide to switch to PAYE, will they start to count all over again, meaning I have to do 20 years again or do I only have to do another 15 years.
Click to expand...

Yea this may be right.. not sure.. I’m just sticking to mine cause I’m a good percent the way through to forgiveness (no missed payments) and I really want to annoy all the loan forgiveness haters out there.
 
BMBiology said:
You didn’t know $3 x 365 days = a lot of money?
Click to expand...

I think the long term effects of the sugar content of a daily sbux hot chocolate would cost more than $1100.

But he could be a marathon runner I dunno.

PS I hate when “experts” say saving a couple bucks a day is the solution to financial well being. No bitch, make more money


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CaNvWa farm said:
I thought his proposal was 15% over 15 years which I don't like.
I prefer the current REPAYE 10% over 25 years.
The current IBR/PAYE is 10% over 20 years.
If it is 5% over 30 years, that'll be great!!!
Click to expand...

My apologies, I confused Trump’s proposal (15%) with Bloomberg’s (5%).

Tbf I’m sure other people get two billionaires from New York mixed up all the time


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CaNvWa farm said:
I remember one of my friends bought a house @400k, I think, down payment 100k, borrowed 300K, then when it went up a bit, I guess 500k, she took out the 2nd mortgage, borrowed about 80k more. Then in 2008 or 2009, house price crashed. They went under water and stopped making payment for a year or longer then the bank finally kicked them out of the house.
I mean I'm about to graduate and if I can't find a pharmacist job for about one or two years, I don't mind having my degree taken away, lol and they let me stop making payment 🙂
Ppl who can't pay back have useless degree.
Click to expand...

I helped guide like a dozen or so clients through strategic default back in the day. They’re all homeowners again, in fact their credit was fantastic a mere 3yrs after the foreclosure and they got an average of 12-18 months of free housing while the backlogs cleared (and $5000 for moving out/not trashing the place).

So I basically helped guide the collective loss of $5.25M to lenders/mortgage security holders during the Great Recession. Y’all are welcome


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I figured out a good plan to avoid student loans. As long as you are enrolled as a student at a community college then they put the loan payments on hold. I will just take classes till I die and that means no paying off student loans.
 
MrBonita said:
I figured out a good plan to avoid student loans. As long as you are enrolled as a student at a community college then they put the loan payments on hold. I will just take classes till I die and that means no paying off student loans.
Click to expand...
No, just work minimum wage and pay 10% of your discretionary income which is $0 for 20-25 years. Taking classes til you die is much harder, lol.
 
confettiflyer said:
I think the long term effects of the sugar content of a daily sbux hot chocolate would cost more than $1100.

But he could be a marathon runner I dunno.

PS I hate when “experts” say saving a couple bucks a day is the solution to financial well being. No bitch, make more money


Sent from my iPhone using SDN
Click to expand...

You are obviously not going to be rich by saving a few bucks a day but it does train your mind for bigger things.
 
MrBonita said:
I figured out a good plan to avoid student loans. As long as you are enrolled as a student at a community college then they put the loan payments on hold. I will just take classes till I die and that means no paying off student loans.
Click to expand...

How many units do you need to take to qualify as a student? How much does it cost per year? Don’t they kick you out if you don’t pass the class?

It is so stupid watching people waste away their lives so they can avoid paying off student loans. Every decision they make is influenced by student loans.

Make money from stocks? Nah, that would increase my monthly payment! Work OT? Nah, that would also increase my monthly payment!
 
confettiflyer said:
I think the long term effects of the sugar content of a daily sbux hot chocolate would cost more than $1100.

But he could be a marathon runner I dunno.

PS I hate when “experts” say saving a couple bucks a day is the solution to financial well being. No bitch, make more money


Sent from my iPhone using SDN
Click to expand...

$90 saved a month from age 18 to 65 will turn into $400k @7%.
 
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