I was gonna mention the last time I think you asked this. I take it you aren’t stateside.
First it becomes insolvent, then after a while it longer it goes into default. This is when it gets sent to a collection agency(and it will pass from one agency to another because the get sick of sending you letters and calling you 17,458 times a month.) All this time it will still accrue interest at like 9%. After they get sick of trying to collect, the gov can get involved and withhold our tax returns or garnish our wages.
To put that interest into perspective, I have the ability to pay a monthly amount based on my wages. Before the pandemic, when I was able to pay, the amount was so low and the interest was so high that I wasn’t able to pay more than what I was accruing.
You can’t discharge student loan debt via bankruptcy which is unlike other debts and courtesy of our president who is totally for real going to forgive it lol
What happens if you do not pay? Do they send some debt collector?
I was gonna mention the last time I think you asked this. I take it you aren’t stateside.
First it becomes insolvent, then after a while it longer it goes into default. This is when it gets sent to a collection agency(and it will pass from one agency to another because the get sick of sending you letters and calling you 17,458 times a month.) All this time it will still accrue interest at like 9%. After they get sick of trying to collect, the gov can get involved and withhold our tax returns or garnish our wages.
To put that interest into perspective, I have the ability to pay a monthly amount based on my wages. Before the pandemic, when I was able to pay, the amount was so low and the interest was so high that I wasn’t able to pay more than what I was accruing.
Ah, seems like hell, I thought that maybe if you didn’t look at the debt it would go away at some point.
You can’t discharge student loan debt via bankruptcy which is unlike other debts and courtesy of our president who is totally for real going to forgive it lol
Oh yeah I forgot to mention that part. We can’t even poor person our way out of it.
I’m considering trying that at this point. Or just shooting myself in the head of that doesn’t work.
C’mon, don’t joke like that. If you get perm residency outside of the U$ they can’t do shit if you don’t pay.
Also a quality possibility.
Extradition is a thing that the US will atleast try
You think they would try and get my worthless loser ass?
If people started to flee to sop paying student loans they would yes
there are better options. if there’s anyone who should die because you can’t pay your student loan, it sure as hell isn’t you
I think Mao had the right idea.