closing my acount

Welcome to the forums :D Banks usually send closed accounts to collections and will report you to Chexsystems, and it will be hard to open another account at a bank if you are reported to Chexsystems. It will stay with them for 5 years. First, contact the bank manager and see if you can make payment arrangements on the closed account. Most banks will allow you to do this before your account will be sent to collections.

Communicate with your lender. Explain your problems and work out an easy repayment plan. Stick to it. Offer a realistic amount so that you don't default in the future. As long as there is payment activity in your account, it will not go to collections and no legal actions will take place against you.

Don't get scared of the cop threats. Making threats is illegal. Report this illegal action to your attorney general's office.