Student loan collectors reach abroad?
Date: Tue, 05/05/2009 - 01:45
Student loan collectors reach abroad?
Eventually, over time, I moved abroad, and things picked up, and now, finally I'm in a reasonable financial position. Then I thought I should maybe try to do the right thing and contact the student loan people. Needless to say, my loans are seriously in default and have ballooned to over 60,000. I'm faced with the choice - do the right thing, which would basically be making my life a misery to my dying day as I'll never pay the whole thing off - or continue living over here, and stick my head back in the sand.
I don't want to start a moral discussion here - there's too much to say on that issue on both sides. But what would it take for the Department of Education to actually come after someone in a foreign country? Is it a question of the loan growing to size where it becomes worth the investment in time and money to track someone down, or are the chances so small as to be negligible? All the dire consequences that everyone talks about regarding default have to do with living in the US - bad credit, no more student loans, wage garnishing. Anyone got a take on this?
As long as you do not use your Social Security number at all whe
As long as you do not use your Social Security number at all when you are outside the country (and there really is no need to) you should be untraceable by creditors. But when (or if) you return to the US, they will be waiting. I hesitate to even appear to suggest that you do not pay your bills, but sometimes is ok to let sleeping dogs lie.
However, there is the issue of your Visa or Passport. Here is an interesting thread about expats and debt: "http://ask.metafilter.com/117043/Can-your-passport-be-confiscated-for-unpaid-debt"
Since the student loan is government guaranteed, however, that may be another issue. Hopefully Soaplady (our resident student loan expert) can clarify this, I'm curious myself!
They will pursue someone outside the country but usually with ba
They will pursue someone outside the country but usually with balances over $100k.
pursue to extradite back to US, then what???? they can only atta
pursue to extradite back to US, then what???? they can only attach any assets or garnish wages; to extradite seems more like spite, especially if the person is judgment proof
Student loans are not criminal....they could sue you in the coun
Student loans are not criminal....they could sue you in the country you live in. International collections is becoming quite easy.
Student Loans
SoapLady, what if you have no assets? What could the gov't possibly gain from sueing someone with no assets?
loans
( Just trying to give some 'personal' advice here)..I have a Student loan, myself. is there anyway you can possible talk to the Lender and get the loan re-financed? Student loans can have ALOT of % on them...I know, trust me. I also had my loan in Default at one time. I FINALLY talked to some lenders ( one was Direct Loans) and got it in 'good standing' after making a few payments on it. I have AES as my Lender now. You may want to try them and see what they say...they do have a few programs to try and get your loan in 'good standing'. You can Google Direct Loan and AES.
