Question by paistalas: Can a person lose my personal property because of default student loans? If a person owns a car and that is the only personal property that he/she owns and is unemployed, can the collection agency seize the vehicle? Also what would happen if a person who is in default lives a country for good? It's not about me. And a person who wants to move to a different reason wants to do that because of personal reasons, not trying to run away because of the debt. Thank you. Sorry for the misspells. I meant if a person leaves the US and starts working abroad. Best answer for Can a person lose my personal property because of default student loans?:
Answer by anonymous
No, unless they've somehow managed to obtain a lien on it through a court proceeding. The only way something can be repossessed is if there is some sort of security interest on it, usually from either the seller of the item (furniture, etc.) or the financier (which may or may not be the seller in the case of a car). If the person has no other assets and no income, it's possible, though unlikely, that they could obtain a judgment lien on the car, but this would require a court proceeding; they can't just up and take the car away, and I doubt they'd be able to get a lien anyway. Laws vary by state, of course, but I don't know of any where this would not be the case.
Three simple steps you can take to end your drama with past-due student loans. If you have PRIVATE student loans, please watch my other video: Student Loan Debt Erasure. www.facebook.com
http://brandurenni.com// How To Get Out of Student Loan Default
WASHINGTON â€" Mitt Romney promises to usher private lenders back into the federal student loan market in a bid to decrease default rates and increase efficiency if he becomes president, but such a move could cost taxpayers tens of billions of dollars ... Romney student loan plan criticized
While taking a student loan the borrower has an agreement under which he or she is bound to sign repay the loan in full. Many students want to repay the loans, but not so due to some problems that result in student loans do default.
The reasons for student loans in default, many, such as difficulties in obtaining good jobs after graduation or have a job, but the salary is not enough to defray their expenses. Another reason may be that the borrower is facing severe financial crisis in an accident. All these factors lead to student loans in default. On the other hand, there are few people to take loans and do not bother them to repay in student loans in default results. Most student loans in default place when students withdraw from college or university and not returned to work hard to attain the degree. Student loans in default can lead to difficult situations, it is better to repay loans on time to avoid serious circumstances. Â Student loans are very useful, whether they are bonds of the Federal Republic of Germany or private loans, as they help the students, their dreams, which seemed to be almost impossible because of the high cost of training to meet. But in the case of private loans, if the principal amount and interest are added, it is a very large amount, especially if the borrower received more than one loan. In such situations it is very likely that the students get bad loans. This is where Private Student Loan Consolidation comes to help. Â Private Student Loan Consolidation offers a respectable and easy solution to this problem. In Private Student Loan Consolidation allthe various loans and accumulated into a single loan. All loans of the borrower by the loan consolidator repaid and the borrower must pay back only to the individual lenders. But while the inclusion Private Student Loan Consolidation the borrower must take all relevant information about companies that possibility. The borrower must choose a company that reduces the interest rate for Private Student Loan Consolidation. Â Therefore, it is for the borrower to manage the resources properly to avoid student loans to help Defaultand of Private Student Loan Consolidation looks important when needed. Find More Student Loans in Default Articles
No comments:
Post a Comment