As the U.S. Department of Education will resume collecting on defaulted student loans, borrowers may face wage garnishment and see credit scores decline.
Okay but I remember reading something about them sending loan debt to collections… I’m not sure if that ever actually happened… But if they did… Then wouldn’t that mean you could get it wiped away?
If the debt is bought by a private company who does debt collections, they absolutely will stop coming for it. You just have to be able to evade them long enough and eventually it gets written off.
The thing with student loans is that the gov will hold your loan and just garnish wages till you die or pay them back + interest. Death will probably come first.
Okay but I remember reading something about them sending loan debt to collections… I’m not sure if that ever actually happened… But if they did… Then wouldn’t that mean you could get it wiped away?
Collections will never stop harassing these people, which actually is the point of this maneuver. Harassing those who are financially disadvantaged.
If the debt is bought by a private company who does debt collections, they absolutely will stop coming for it. You just have to be able to evade them long enough and eventually it gets written off.
The thing with student loans is that the gov will hold your loan and just garnish wages till you die or pay them back + interest. Death will probably come first.