Defaulting on a private student loan, need advice.
Date: Fri, 03/22/2013 09:59
I am a resident of Canada and have a private student loan in the state of NC. The loan is pretty big - $100k+. I am very close to defaulting on my loan and the lender as done as much as they can to help. My questions are:
Can they garnish my wages in Canada?
Can they report to credit bureaus in Canada?
I have a small company that has a bank account in the US, can they seize that account?
One of my company's clients is US-based, can they garnish the amount he pays to my company?
I am not a US citizen or a Canadian citizen. I live as a permanent resident in Canada.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.