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Question about a student loan that is past due

 
Old 02-09-2019, 07:09 PM
  #1  
jd
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Default Question about a student loan that is past due

I have met a couple of people who basically just stopped paying on their student loans - and this was years ago. They told me that they are in "forebearance." (what does that actually mean?)
Now, somehow, one of them bought a 300k house...how they heck did he do that?
Also he is also getting older? Will they take is social security if he never pays these off?
Thanks.
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Old 02-09-2019, 07:25 PM
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Basically they negotiated to stop payments temporarily although responsible for the interest at least I bet. Better than defaulting on the loan.
I'm sure there's a time limit to resume payments.
Eventually they'll have to pay up.
I know someone who defaulted on SL and the lender has snagged their tax return money for many years now.
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Old 02-09-2019, 07:26 PM
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WI Badger in OBX
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I know they will confiscate any tax returns if you are behind on payments because it is a government backed loan.
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Old 02-09-2019, 07:30 PM
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wouldn't want to be in their shoes, they will be forced to pay back eventually
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Old 02-09-2019, 08:56 PM
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Originally Posted by Rodnok1 View Post
Basically they negotiated to stop payments temporarily although responsible for the interest at least I bet. Better than defaulting on the loan.
I'm sure there's a time limit to resume payments.
Eventually they'll have to pay up.
I know someone who defaulted on SL and the lender has snagged their tax return money for many years now.
They must have went to a sucky school, why not just adjust your withholding so you don't get a return
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Old 02-09-2019, 08:57 PM
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Originally Posted by jd View Post
I have met a couple of people who basically just stopped paying on their student loans - and this was years ago. They told me that they are in "forebearance." (what does that actually mean?)
Now, somehow, one of them bought a 300k house...how they heck did he do that?
Also he is also getting older? Will they take is social security if he never pays these off?
Thanks.
*forbearance

What are deferment and forbearance?
If you meet certain eligibility requirements, deferment or forbearance allows you to temporarily stop making payments or to temporarily reduce your monthly payment amount for a specified period.

What's the difference between deferment and forbearance?
The main difference is that with a deferment, you may not be responsible for paying the interest that accrues on certain types of loans during the deferment period.

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Old 02-09-2019, 09:11 PM
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Originally Posted by Humanoid 2.0 View Post
They must have went to a sucky school, why not just adjust your withholding so you don't get a return
They attended the Ocasio-Cortez School of Economics.
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Old 02-09-2019, 09:28 PM
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Originally Posted by Slo Yelo C5 View Post
They attended the Ocasio-Cortez School of Economics.
It's nice that you have someone to look down on when it comes to the subject.
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Old 02-09-2019, 09:30 PM
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Originally Posted by Slo Yelo C5 View Post
They attended the Ocasio-Cortez School of Economics.
Does that rank higher or lower than Trump University?
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Old 02-09-2019, 09:51 PM
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Originally Posted by Humanoid 2.0 View Post
Does that rank higher or lower than Trump University?
Well, the Ocasio-Cortez School of Economics doesn't think debt is a problem. Rather, debt has no meaning. Just print more money. After all, how does printing matter? It just employs more people. A win for all.
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Old 02-09-2019, 10:03 PM
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dumb-asses, don't they know that this is what a Go-Funded Me account is for . . .
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Old 02-09-2019, 10:07 PM
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This wouldn't happen if they were illegal immigrants residing in New York.
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Old 02-09-2019, 10:25 PM
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Originally Posted by Slo Yelo C5 View Post
Well, the Ocasio-Cortez School of Economics doesn't think debt is a problem. Rather, debt has no meaning. Just print more money. After all, how does printing matter? It just employs more people. A win for all.
You really are as ignorant as you seem. This country has been doing that since the 70's when Nixon took our currency off of the international gold conversion standards. Of course, we say we back up that printed money with bonds but, so far we've never paid off those bonds with anything other than more bonds while we get in deeper and deeper by servicing more and more interest debt. What exactly do you think that our government did at the end of W's term when they forced our largest banks to take $100B and loan it out to prop up the economy? And now? Now we print even more money to give to the rich and the corporations in tax cuts which are giving us absolutely no return whatsoever. So try to tell me now how your hero views debt as a serious issue.
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Old 02-09-2019, 10:52 PM
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Originally Posted by 05c6silververt View Post
You really are as ignorant as you seem. This country has been doing that since the 70's when Nixon took our currency off of the international gold conversion standards. Of course, we say we back up that printed money with bonds but, so far we've never paid off those bonds with anything other than more bonds while we get in deeper and deeper by servicing more and more interest debt. What exactly do you think that our government did at the end of W's term when they forced our largest banks to take $100B and loan it out to prop up the economy? And now? Now we print even more money to give to the rich and the corporations in tax cuts which are giving us absolutely no return whatsoever. So try to tell me now how your hero views debt as a serious issue.

You clearly graduated from the Ocasio-Cortez PhD program.

When bonds are issued, interest must be paid. More bonds, more interest. More interest, more revenue is needed. How do you figure debt doesn't matter?

Or, are you saying we should go full on retard? Free housing for all? Free healthcare? Free tuition?

I know you're a Commie and all, but explain you're absurd thinking to those of us not stupid enough to think resembling Cuba, Venezuela, or USSR is the right way to go.
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Old 02-09-2019, 10:55 PM
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Originally Posted by Slo Yelo C5 View Post
You clearly graduated from the Ocasio-Cortez PhD program.

When bonds are issued, interest must be paid. More bonds, more interest. More interest, more revenue is needed. How do you figure debt doesn't matter?

Or, are you saying we should go full on retard? Free housing for all? Free healthcare? Free tuition?

I know you're a Commie and all, but explain you're absurd thinking to those of us not stupid enough to think resembling Cuba, Venezuela, or USSR is the right way to go.
You're even dumber than I thought. Forget it, you can't even comprehend what I've said. You're not worth my time.
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Old 02-09-2019, 11:07 PM
  #16  
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In before the move to PR&C

And BTW - all corp taxes are passed on to the purchaser of the product, so the end user pays the tax on things he buys with money that has been taxed. How much the rich pay is a different conversation, but if you want fair - I'll go with 18% flat, no deductions. What did you make last year? Multiply by .18 and send it in.
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Old 02-09-2019, 11:18 PM
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I'd rather owe money to Vinny with the crooked nose than owe on a student loan. The Govt WILL get its money. A student loan can never be forgiven, even in bankruptcy. The Govt will get it from your payroll, your tax return or your S.S.
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Old 02-10-2019, 02:02 AM
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chapter how much
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Old 02-10-2019, 09:02 AM
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Originally Posted by BadUmp View Post
dumb-asses, don't they know that this is what a Go-Funded Me account is for . . .

CFOT would contribute greatly.
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Old 02-10-2019, 09:17 AM
  #20  
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Originally Posted by 05c6silververt View Post
You really are as ignorant as you seem. This country has been doing that since the 70's when Nixon took our currency off of the international gold conversion standards. Of course, we say we back up that printed money with bonds but, so far we've never paid off those bonds with anything other than more bonds while we get in deeper and deeper by servicing more and more interest debt. What exactly do you think that our government did at the end of W's term when they forced our largest banks to take $100B and loan it out to prop up the economy? And now? Now we print even more money to give to the rich and the corporations in tax cuts which are giving us absolutely no return whatsoever. So try to tell me now how your hero views debt as a serious issue.

Wow ! What a good liberal lemming you are.

Mention a spit in the bucket 100 Billion to rag on Bush yet no mention of Obozo creating more debt than ALL of the presidents before him combined.

In case you didn't know it there is a wee bit of difference between $ 10 TRILLION DOLLARS and $ 100 BILLION.

If you want to see IGNORANT maybe you should find a mirror in your house.
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