Why not include mortgage and student loans in debt evealuation?

[stella7]

I wonder why one doesnt have to include the mortgage or student loans when they are trying to evaluate their debts because i thought the whole idea helps you see where you stand financially?

[moonmagick]

I agree with this completely. I think that it would definately give a much clearer picture when analyzing the situation. It isnt right that they only base it on certain factors, it clouds the whole picture.

[SageMother]

I think they don't include the mortgage because most people will have the roof over thier heads as their main concern. When all else goes wrong, they pay the mortgage first.

I think Student Loans are in cluded these days, depending on the originator of the loan.

[Calypso]

They may not look at these types of debt because one is secured (the mortgage) and MUST be paid if you want to keep your home.

The other (student loans) are considered non-negotiable. You can't even get rid of them through bankruptcy. While you may sometimes qualify for a forbearance, or period of time when you don't have to pay on the loan, the loan must, ultimately, be paid in full or the government does all sorts of fun--NOT--things to your credit score, paycheck, social security, tax refunds, etc.