What else could happen to you besides losing any type of tax credit or income tax refunds?
2007-01-21 10:56:04 · 6 answers · asked by osunumberonefan 5 in Education & Reference ➔ Financial Aid
School Loans can not be written off in bankruptcy. They will be with you forever. You will not be able to return to school until they are satisfied. You can not buy a house or a car. They will haunt you. If you hare having trouble making payments, call the administrator and see what arrangements you can make. They will defer loans in time of financial hardship.
2007-01-21 11:50:37 · answer #1 · answered by osuross2005 2 · 0⤊ 0⤋
They can turn you into collections causing you thousands of dollars that you will be paying in higher interest rates for future loans, take your tax return, freeze your bank account, and garnish 25% of your wages until the bill is paid, which will take longer than normal due to the interest fees which will keep accummulating.
2007-01-21 11:05:05 · answer #2 · answered by Mariposa 7 · 0⤊ 0⤋
Could give you a horrible credit rating making getting credit, such a visa or a car loan, very hard....
2007-01-21 11:01:08 · answer #3 · answered by waynebudd 6 · 1⤊ 0⤋
they will garnish your wages, this is the federal gov't your talking about if you buy a piece of gum they will send out someone to chew half of it.
2007-01-21 11:04:19 · answer #4 · answered by pa625 5 · 0⤊ 0⤋
Your wages will be severely garnished, and you could face additional fines and penalties.
2007-01-21 11:00:07 · answer #5 · answered by Pink1967 4 · 1⤊ 0⤋
Well , they could try to collect and force you into bankruptcy.
2007-01-21 11:03:36 · answer #6 · answered by ina291262 2 · 0⤊ 0⤋