The effectiveness of these tools depends on how much income and property you have and on the type of income and property.
Certain types and amount of property, income, and assets are protected by federal and state law from seizure.
Student loans come in many shapes and sizes, and the regulations for them can be different as well.
There are several types for which you may be eligible.
Private student loans have some conditions and terms — very good credit or a co-signer needed – that make them difficult.
Generally, you should not ignore a lawsuit unless you have no defenses and if there is no possibility of being forced to pay a court judgment. You should be sure to pick up certified mail and accept notices about court actions.
Even if you lose your case and the government or private lender gets a judgment, this does not mean that you must repay the debt.
The judgment allows your creditors to use special collection tools to try to collect.
Calculate how to potentially pay less interest on your student loan: Student Loan Interest Calculator Calculate the monthly payments on your private student loans: Student Loan Repayment Calculator If you’re a borrower with little or no credit history, or you have limited income, a cosigner may help you to qualify for this loan and potentially receive a lower interest rate.
A cosigner is someone who shares responsibility with the borrower for repaying the loan.