checkiing. account. I am disabled and unemployed. I do have a
small savings account. Should I transfer it in someone elses
name.
2006-10-27 09:32:44 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
yes they can attach or place a lien on most any asset they are able to identify. It would be a crime for me to advise you to hide such an asset. If you are permanently disabled you should contact whom ever has the loan before it goes to collection and work our some arrangement.
2006-10-27 09:38:26 · answer #1 · answered by ? 6 · 0⤊ 0⤋
Yep, the feds can attach whatever assets you have. Hiding money really isn't the best idea. Since you are disabled and not working they may be able to work out an acceptable payment plan with you...call the loan servicer and talk with them.
Good luck
2006-10-27 16:41:45 · answer #2 · answered by Loli M 5 · 0⤊ 0⤋
Transferring an account to avoid repayment of a federal debt is illegal i do believe and they recover the funds from the account. i think they can deduct from disability payments too if you receive them.
If this is a temporary situation call the student loan folks and try to get forbearance.
God Bless and Good Luck!
2006-10-27 16:44:39 · answer #3 · answered by msijg 5 · 0⤊ 0⤋