In the old days You had to be a total of 90 days behind before you were charged off and the account was either handled by the banks lawyers or it was sold to an outside collection agency and their lawyers. This might help you. If you can keep the bills under that 90 days Say a month and a half or two months late but not go into that third month. Then they don't charge off they just call you and so on. It is up to the lawyer if you get sued in the old days. If you own a house if you got a bank account if you have a job. then they will most likely sue you. They sue you get served and then you go to court and then they get a judgement against you. When they get their judgement then they put a lien on your house attach your checking account and take everything that is in it. and then they garnish your wages until all the fees and interest and principal is paid off. Liens on house stay on the houses until the amount is paid. Sorry I could not help before Maybe this will help you some Mary Ann
Yes that is what Suze Orman said the other night on her show. If you think that you have no way out but bankruptcy then transfer some of your student loan over to a credit card or to a helc because you can not claim your student loans on a bankruptcy.
I am sorry you feel that it is stealing. Is it any different then going bankrupt. I am not a big fan of that either but thousand do it every day.
I am just passing the information on. I don't judge people. Mary Ann
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This might help you. If you can keep the bills under that 90 days Say a month and a half or two months late but not go into that third month. Then they don't charge off they just call you and so on.
It is up to the lawyer if you get sued in the old days. If you own a house if you got a bank account if you have a job. then they will most likely sue you. They sue you get served and then you go to court and then they get a judgement against you. When they get their judgement then they put a lien on your house attach your checking account and take everything that is in it. and then they garnish your wages until all the fees and interest and principal is paid off. Liens on house stay on the houses until the amount is paid.
Sorry I could not help before
Maybe this will help you some
Mary Ann
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Yes that is what Suze Orman said the other night on her show. If you think that you have no way out but bankruptcy then transfer some of your student loan over to a credit card or to a helc because you can not claim your student loans on a bankruptcy.
I am sorry you feel that it is stealing. Is it any different then going bankrupt. I am not a big fan of that either but thousand do it every day.
I am just passing the information on. I don't judge people.
Mary Ann
All my best,
Danni
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