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Ask Dave

Mr. Pessimism

Marsha's husband wants to file bankruptcy, but Dave lets them know that their student loans aren't bankruptable.

QUESTION: Marsha wants to do Financial Peace University at their church, but her husband doesn’t believe in it and thinks they can just file bankruptcy and start over. They have $76,000 in debt, of which $60,000 is student loan debt and $10,000 is on a truck. How can she change his mind?

ANSWER: Tell him that student loans aren’t bankruptable. You can’t bankrupt the truck and keep it, either. That means you’re filing bankruptcy on $6,000. That’s STUPID! He thinks everyone is after him. He doesn’t believe in cause and effect. This is not a money problem. This guy has deeply rooted character issues going on. He’s pessimistic and doesn’t want to try anything. He desperately needs to believe again. He’s hung around with so many negative people that he became one. Push hard for you guys to be in church and marriage counseling.