U.S. Marshals Are Now Arresting People For Unpaid Student Loans

[Marlin Grace]

SOURCE:
 






(Feb. 2016)

"Financially speaking, going to college these days is practically a death sentence for most people. Tuition has never been more expensive, and most degrees no longer give you any guarantee of landing a high-paying job. On top of that, it’s nearly impossible to escape these debts through default or bankruptcy.

That’s why there is now well over $1.3 trillion of student loan debt held by millions of Americans. That’s more than the amount of credit card and automotive debt in this country. But at least these debtors can live their lives knowing that there won’t be any dire consequences for not paying, aside from having their wages and tax refunds garnished, and a poor credit score. Right?"

This particular topic strikes a chord with me because you can't force your wife's useless kids to honor their student loans. So as a cosigner to the loan she has to make the payments or it is her credit that is affected. As a CFO you better have good credit or it's AMF with little chance of being hired anywhere else. But this does add a different twist having a debtor's prison back to the US. Plus the way student loans are constructed you get totally screwed in the end.  

"Unfortunately, that may not be the case anymore. A Houston resident recently admitted that he was arrested at gunpoint by US Marshals, for failing to pay a $1500 federal student loan from 1987. He’s not alone either, as the US Marshals currently have between 1200 and 1500 warrants for unpaid student loans. You can listen to his terrifying account of what happened below."

As you can see from the news report this is a real issue, if we were banks, car companies, foreign governments, or Donald Trump there wouldn't be any issue the government would step in and help right out.

[Wrabbit2000]

Oh. I love living in Missouri. You see, unlike some things.....they can't just make up law as they go on this one, because the very next stop is a court room where the law is the first thing looked at. 

Now, here in Missouri.....(did I mention I love my state?) we foresaw such tyrannical nonsense and thought well ahead to addressing stupid ideas like this. Yes, indeed, we have. I use 'we' loosely of course, since this fine State Constitution of ours was written a year or two before I joined the state as a citizen. 

However..it has some GREAT clauses...like the Imprisonment for Debt clause.

Section 11. That no person shall be imprisoned for debt, except for nonpayment of fines and penalties imposed by law.

Source: Const. of 1875, Art. II, § 16.

(1951) Section 462.430, authorizing attachment for contempt for failure to surrender assets to estate, held not unconstitutional as against contention it authorizes imprisonment for debt. Zeitinger v. Mitchell (Mo.), 244 S.W.2d 91.

(1976) Held that imprisonment for contempt is proper remedy for failure to comply with court order for maintenance and child support when person disobeying order has intentionally placed himself in a position which made compliance impossible. State ex rel. Stanhope v. Pratt overruling Coughlin v. Ehlert, 39 Mo. 285 (1866). State ex rel. Stanhope v. Pratt (Mo.), 533 S.W.2d 567. 
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Now, I have no intention of defaulting on my student loans, but if that were to happen through some life circumstance? I'd welcome the opportunity to run up as the test case and test just where the rights of my state of residence end vs. the Feds idea of making things up as they play along. 

Yes..indeed...few states are as clear to make that fight as this one. It would be worth the hassle, just not worth defaulting to trigger.

[Mystic Wanderer]

No, that is not right. 

Sometimes, even with a degree, students can't find work, so paying the loan back on time might not be an option. I'm not saying it should go unpaid right on and on, but sometimes it can't be helped. 

And, what would it solve putting people in prison? The tax payers will just have to foot the bill of feeding/clothing/health/etc. that person while he/she is there. 

If anyone belongs in prison, it's the people who run the institutions who charge such ridiculous prices to get an education! 

My daughter had to get a student loan to get a teaching degree. I tell you what! It's a crime in itself what they charge students in interest! She'll be paying that debt until her retirement, if not longer. 

[Minstrel]

With all of this said - the crime is at the levels where kids... yes, kids ...are being told that they must go to college or the rest of their lives will be worthless.  Then, just before getting into college, they're told - party all you can, 'cause it's the last stop before your parents stop footing your bill.

I do not know how some make it through to their degrees.  But - they get them, and come out into the work-force expecting to be the boss.
All most of them were sold, was DEBT.

I still don't know what I want to be when I grow up.  How can a 17 or 18 year old know?  Maybe some do.  But most are either looking for the easiest way to get the best ride, or the best ride...whatever it is.  Few have enough time in the saddle to know what life is about... Just spoon-fed everything from day 1 without a breather to find that... ... ...they...are going to be responsible for the rest of their lives.

[Wrabbit2000]

Well, this college "kid" is still finishing an Associates for simple transfer into the 4 year...to start the real degrees that will result ion employment (hopefully).

Due, in part, to extended difficulties in Math ...time to get to this point: 4 Years (and this time frame *IS NOT* as unusual as the recruiters to college would swear it is)

Debt owed at this point: Just over $30,000 ..... and I'm at one of the lower priced community colleges in one of the lowest tuition states in the US. 

After I graduate this level, the prices climb dramatically and so will the debt. Given what I have now? I'm expecting $60,000 to $75,000 in debt by the time I have my Bachelor's....and if fate has ANY mercy on decent people...I'll be able to find work on that degree to finish to Master's with minimal issues. I dunno.... 

If I fail to get employment or create business sufficient to pay what is currently $400/Month in student loan payment ..and will likely be $800-$1,000 a month by the end? I'll have absolutely no logical choice in life but to default, accept a lifetime of consequences from the Government in any number of ways...and consider College as the single most destructive and terminal mistake I ever made in life. 

If I succeed in getting employment fit to a Master's level in the Midwest? I'll be paying them the rest of my life, and I have no question, the balance will be obtained from my estate after my death. I'll still owe, more than likely, regardless of how long I manage to live (within reason). 


Welcome to Amerika and the new way of slavery. Obama made himself the 'massa' when he insured almost 100% of the student loan industry was nationalized during the opening days of his administration. It gave overwhelming control over U.S. schools and how they go about...almost everything. It also gave a near total control over those who take on that debt, and then don't have a beautiful success story of post graduate career building to get out from under it.



BTW... I'm not pursuing a medical degree. I'm not chasing a PhD in Astronomy or some other hard science. I'll realistically be well north of $50,000 in debt before I get my Bachelor's in.....Journalism. If I'm a penny under $75,000 total accumulated by the time I clear school with my Master's in....English ....I'll be quite surprised and happy as hell. 


...and they wonder why our system is going to hell with a turbo boost.

[Minstrel]

Well, Wrabbit' - I hope you get paid the big bucks... Don't volunteer for fox-hole duty in Afghanistan or Cambodia -- Just start with some exposes that don't get you killed. Then - write a screenplay or two, and you'll be out of debt in no time, whatsoever. Write a couple of Detective Novels while you're at it. I actually went "over the road" in hopes of writing a novel during my down-time, but failed tragically.

Hope it works out better for you.

[Marlin Grace]

".and they wonder why our system is going to hell with a turbo boost."



Maybe if you renounced your citizenship and sneaked across the southern border, you could get enough free stuff to make the debt worth while. 

Those numbers are insane, we are paying her kids back from 55K not sure what it's down to, but the dumbass never even went more than 6 months. The wife says when its all over with she considers the interest usury fees. I told the wife I find it comical they bust the Mob for loan sharking while something like this and credit card rates go without question. Maybe if the mob contributed to the political process things would be fine. Oh and a friend of mine went to one of those borrow against the car title places. He said the rates were like 30 to 35% (Personally I think they are the mob) why isn't this illegal? 

The world is a crazy place right now, hopefully there will be time to get that education before they crash it and finish it.

[atf1886]

SOURCE:
 






(Feb. 2016)

"Financially speaking, going to college these days is practically a death sentence for most people. Tuition has never been more expensive, and most degrees no longer give you any guarantee of landing a high-paying job. On top of that, it’s nearly impossible to escape these debts through default or bankruptcy.

That’s why there is now well over $1.3 trillion of student loan debt held by millions of Americans. That’s more than the amount of credit card and automotive debt in this country. But at least these debtors can live their lives knowing that there won’t be any dire consequences for not paying, aside from having their wages and tax refunds garnished, and a poor credit score. Right?"

This particular topic strikes a chord with me because you can't force your wife's useless kids to honor their student loans. So as a cosigner to the loan she has to make the payments or it is her credit that is affected. As a CFO you better have good credit or it's AMF with little chance of being hired anywhere else. But this does add a different twist having a debtor's prison back to the US. Plus the way student loans are constructed you get totally screwed in the end.  

"Unfortunately, that may not be the case anymore. A Houston resident recently admitted that he was arrested at gunpoint by US Marshals, for failing to pay a $1500 federal student loan from 1987. He’s not alone either, as the US Marshals currently have between 1200 and 1500 warrants for unpaid student loans. You can listen to his terrifying account of what happened below."

As you can see from the news report this is a real issue, if we were banks, car companies, foreign governments, or Donald Trump there wouldn't be any issue the government would step in and help right out.

Marli  Mar if that's the case I must have a bounty on my head!! If that is what we are turning into it might be time to jumpship Costa rica, Belize, Mexico, any recommendations??

[atf1886]

No, that is not right. 

Sometimes, even with a degree, students can't find work, so paying the loan back on time might not be an option. I'm not saying it should go unpaid right on and on, but sometimes it can't be helped. 

And, what would it solve putting people in prison? The tax payers will just have to foot the bill of feeding/clothing/health/etc. that person while he/she is there. 

If anyone belongs in prison, it's the people who run the institutions who charge such ridiculous prices to get an education! 

My daughter had to get a student loan to get a teaching degree. I tell you what! It's a crime in itself what they charge students in interest! She'll be paying that debt until her retirement, if not longer. 

Your daughter by law on her student loans can get them discharged teaching and civil jobs can have student loan debt erased have her look into it!!