What You Can Expect if You Don't Pay Your Student Loan Debt
If you’re a student loan borrower, it’s important to know the consequences of not paying your loans. Not making payments on your student loan debt can have serious financial and legal repercussions. If you don’t pay your student loan debt, there are several steps creditors can take to recover their money. Your credit score will suffer and you may be subject to wage garnishment or a lawsuit if you don't make payments in a timely manner.
Your lender may take legal action against you as soon as 120 days after the first missed payment if it's past due. This could include filing a lawsuit against you or requesting that your wages be garnished by your employer. The creditor could also file an abstract of judgment with the court which would automatically place a lien on any real estate property that you own until the balance has been paid off in full.
The Law Offices of Omar Zambrano has helped thousands of people and businesses on the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706