<p>Hypothetically speakins could someone have that has $150,000 or so in debt file for Chapter 7 bankruptcy and not to have to pay it back? If so what are the consequences.</p>
<p>student loans are not dischargable in bankruptcy.</p>
<p>A better option is to kill someone else and steal their identity. Obviously, that approach also has potential drawbacks.</p>
<p>yes, the major one being that you would have your diploma under your real name not the stolen one. Oh the decisions...</p>
<p>Also be aware, that besides that your loans are not dischargable in bankrutptcy, at least one state, Illinois, has adopted an ethical rule prohibiting lawyers from avoiding the repayment of their student loans -- thus failure to pay your loans can result in your being disbarred.</p>