So I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
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Originally posted by jhoya101 View PostSo I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
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Originally posted by jhoya101 View PostSo I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
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Originally posted by jhoya101 View PostSo I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
what about a part time job??
but i know its hard in these covid times
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Originally posted by jhoya101 View PostSo I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
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Originally posted by Zimmie View PostTaking out another loan when your already defaulting in another loan is a completely brain dead thing to do (no offence) you dont fight loans with loans your just digging a bigger and bigger hole
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Originally posted by jhoya101 View PostSo I am a college student. I found out you could get loans of multiple hundreds of dollars. I recently had a 800 loan. I cannot pay it back. I will have to default on it. I recently found out the biggest consequence of default is bad credit or possible stuff taken. What would happen if I took out another 800$ personal loan from someone else. Using the money for spending money on food and entertainment. I probably won't pay this one back either. Is there anything I am missing that is a severe negative consequence of this all? Worst comes to worse, when I graduate college, I'll be making at least 50-60k so paying these back won't be the hardest thing in the world.
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