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The ‘terrifying’ trade-offs millions of Americans face as student loan repayments resume
(www.nbcnews.com)
this post was submitted on 01 Oct 2023
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I have some left and have no plans to pay. Let them sue me. I want them to take me to court, hire a lawyer, spend a week, and deal with collections for the few thousand they claim I owe.
Assuming you are employed, they will just garnish your wages. They don't have to sue for it, federal loans don't even need a court order to do it. Private loans do, but they are also able to take more money out of your check.
Which I can appeal and if it really came down to it I can switch over to an independent contractor in about a week. But it won't come down to it because before that happens I will just setup a 5 dollar monthly payment.
They will find a way to destroy your credit on case you had any hope of purchasing anything with a mortgage \ loan in the next 7 years
Don't worry, the insane cost of rent has already prevented most of us from being able to buy a house in the next seven years.
You can't kill what is already dead. I keep emergency funds around, enough that I could buy a brand new economy car at any time. Have a single credit card with a 5,000 dollar limit and charge a cup of coffee on it once a month to verify it still works.
Debt is evil.