and my dad is dying and leaving me his house. will they take the house from me to pay off the student loans?
2006-09-02 07:09:11 · 7 answers · asked by mcgomery2001 1 in Education & Reference ➔ Financial Aid
You should call student loan lender and make arrangements for payment...if you are attempting to pay they cannot take you to court nor take any of your assets. However, you cannot get out of paying student loans...when you file your taxes they will take your tax refund...etc. Even if you file bankruptcy you still have to pay your student loans. It is government money, so just pay it back like you agreed to.
2006-09-02 07:16:57 · answer #1 · answered by Hula Girl 4 · 1⤊ 0⤋
If you are making your payments like you should -- no problem -- they will not take the house from your father or you as long as your loans are in good standing.
IF you have NOT paid the student loans -- they CAN attach (meaning put a piece of paper in that will say you can't benefit from the house UNTIL this loan is paid off) the house that you may inherit UNTIL the loan is paid off. This is to make sure that you pay the loans and don't default on them.
It all depends -- are you paying on time right now? Then you are ok and don't have to worry because you are fulfilling your loan's terms.
2006-09-02 13:27:39 · answer #2 · answered by sglmom 7 · 0⤊ 0⤋
Listen to me.
If you are paying your loans on time, then it is cool.
If you are messed up with paying your loans, then call the lender and ask for an income contigent payment plan.
No one is going to take away your inheritance because you owe money on student loans.
However you can eventually get your wages garnished if you are messed up paying your loans. And, they can take you to court- but that is when you are far gone on paying your loans.
Just do the right thing, my man. Call the loan holders and work something out. They will not kill you or take away your home or anything. But you have to call the folks up and work with them.
2006-09-03 13:55:55 · answer #3 · answered by Mary K 2 · 0⤊ 0⤋
A student loan is the best loan to have. They are always willing to work with you. I was a year or so past due on my loans and eventually they told me the entire amount was due in full. Finally when I got myself back together financially I gave them a call and they deferred my payments. My credit was back to being clean as a whistle. Anyway my point is that you need to call them and work something out before the house is in your name.
2006-09-02 07:15:07 · answer #4 · answered by Phoenix 2 · 0⤊ 0⤋
if you arent paying your student loans then yes. A loan is a LOAN and not free money. The paperwork and promisary note that you filled out prior to getting your student loans told you this.
2006-09-02 07:14:00 · answer #5 · answered by ms mystery 3 · 0⤊ 1⤋
you're able to no longer could pay money on your return, however the cost would be taken out beforehand of every physique receiving the refund. to this point as your taxed being taken to pay off a student mortgage, have you ever won something telling you your taxes would be intercepted? if so, they're going to take any and all the money they could desire to pay decrease back the interior maximum loan.
2016-09-30 06:50:44 · answer #6 · answered by wheelwright 4 · 0⤊ 0⤋
If you are making current payments, they won't, if you are not making your payments, they could. Get in touch with your lender and work out your payment schedule to get current on your loan, and stick to it!
Making your payments is the only sure way to avoid any type of collections efforts.
2006-09-02 07:17:29 · answer #7 · answered by chriscnaz 2 · 0⤊ 0⤋
the answer is yes. They will do whatever is needed to pay off the loan and interest.
2006-09-02 07:15:06 · answer #8 · answered by ML 5 · 0⤊ 0⤋
If you are making payment, then no.
2006-09-02 09:40:51 · answer #9 · answered by The Big Shot 6 · 0⤊ 0⤋