https://padlet.com/maddiclark01/jqna79yawgxv Made with a quick smile en-us 2019-04-21 22:21:36 UTC 2019-04-21 22:40:11 UTC hello@padlet.com maddiclark01 https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950072 My friend Sara has been out of college for 5 years and has not been able to find a viable job yet so she has been unable to pay back her student loans. This means that she is in debt, "A debt is an obligation owed by one party to another" (7). She is very stressed due to the pressures of her student loans and she fears that she will not be able to pay them back.]]> 2019-04-21 22:22:36 UTC https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950072 maddiclark01 https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950351 Not being able to pay back loans is not an ideal situation. It can severely damage you financially and specifically with credit. If she has no other option she may have to file for bankruptcy, "Although its consequences are long-lasting and far-reaching" (8). While it will provide her with relief from paying certain debts, it will ruin a lot of future financial opportunities for her. Her credit will be severely damaged, she may find difficulty in getting jobs, and her interest rates will be a lot higher.]]> 2019-04-21 22:27:32 UTC https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950351 maddiclark01 https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950595 While her situation may seem very bad, there are ways for her to start progressing her way back to a debt free (not entirely) lifestyle. First she should start budgeting. "The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend" (8). This can help her organize herself more and get on track. If she is still struggling she can use a "debt relief plan like credit counseling or debt settlement" (8) to guide her.]]> 2019-04-21 22:31:58 UTC https://padlet.com/maddiclark01/jqna79yawgxv/wish/352950595 maddiclark01 https://padlet.com/maddiclark01/jqna79yawgxv/wish/352951054 2019-04-21 22:39:38 UTC https://padlet.com/maddiclark01/jqna79yawgxv/wish/352951054 maddiclark01 https://padlet.com/maddiclark01/jqna79yawgxv/wish/352951066 2019-04-21 22:40:02 UTC https://padlet.com/maddiclark01/jqna79yawgxv/wish/352951066