Im not going to continue back and forth on this because the discussions/arguments on here tend to get circular quickly.
However, after my last post i ran into my dean in the hall...she is a bankruptcy expert (just named to head the ALI's bankruptcy panel) and she agreed that in such a circumstance it would be the best way to handle the situation if you were one of the college student and they let a judgment that huge stand against you (though we both doubt they would). She also kinda agreeded with Kid Red. In many cases filing wont kill your credit. the REASON goes on your credit report. im sure if a car dealership or mortgage company saw that you filed to avoid a ridiculously MASSIVE judgement against you while in college they would not give it alot of pull. If they asked you about it and you explained (which also happens) im quite sure it wouldnt make little impact.
However, after my last post i ran into my dean in the hall...she is a bankruptcy expert (just named to head the ALI's bankruptcy panel) and she agreed that in such a circumstance it would be the best way to handle the situation if you were one of the college student and they let a judgment that huge stand against you (though we both doubt they would). She also kinda agreeded with Kid Red. In many cases filing wont kill your credit. the REASON goes on your credit report. im sure if a car dealership or mortgage company saw that you filed to avoid a ridiculously MASSIVE judgement against you while in college they would not give it alot of pull. If they asked you about it and you explained (which also happens) im quite sure it wouldnt make little impact.