What can they really do?
Posted by Ant_moreno@reddit | studentloandefaulters | View on Reddit | 11 comments
Went out of deferment on my Sallie Mae loans about 4 months ago and haven’t paid them. Keep getting calls from them requesting me to call back. Most recent one explains that they may have to make a decision without me (whatever the hell that means)
Even if I could pay these loans, I don’t want to. So my question is, what can they really do? What’s this “next step” they could be referring to? Selling it to a debt collector? I know I can’t go to jail for a private student loan, so what should I expect in the coming months?
Old-Patience-6387@reddit
They can’t send you to jail, but they might mess with your credit and send it to collections. Worst case, they could try to garnish wages if they take legal action.
Careful_Tangelo763@reddit
This is horrible that the U.S. and Canada are supposed to be civilized counties and yet you can’t be in worse of position by studying then taking a loan to start a buisness which would probably be less then the amount needed for a degree. In the UK you only pay your loan back if you hit a certain salary and if you can pay it back after a certain time you’re off the hook.
goldenticketrsvp@reddit
Levy your bank account, garnish your wages, but they do have to sue you.
vsandrei@reddit
They also have to find your bank account and wages.
Ant_moreno@reddit (OP)
They have to sue before they do this? And I have to be served?
Thumper727@reddit
I was "served" by the sheriff just leaving the papers in my mail box. No one ever even tried to knock on my door or hand anything to me. They didn't mail it. I asked my lawyer if this was legal she said it was.
goldenticketrsvp@reddit
That is correct. Keep an eye on your local court electronic docket, If they are unable to serve you, they can ask to serve you by publication.
aFrothyMix@reddit
ignore and deny.
fuck these criminals.
Exercise the 2nd Amendment. Get Strapped, Stay Strapped. Banks can't fuck with hot lead.
Cyclone87@reddit
Fuck them. Shit is going to hit the fan through the next couple of years.
aFrothyMix@reddit
yep, continued decline under harris or rug pull under trump. the Fed doesn't give 3/4's of a fuck about anyone.
Hanesman12@reddit
More calls, letters, family harassment, trashed credit, and possible lawsuit and subsequent garnishment of wages.