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Even if you go into default because it is a student loan the IRS will garnish any return and send it to the creditor and of course your credit score will drop.
by Hextinium 8y ago
Even if you go into default because it is a student loan the IRS will garnish any return and send it to the creditor and of course your credit score will drop. Doing so may force a more reasonable interest rate than what you previously. I am interested if anyone on here has taken this route.
- UncleEntity 8y agoNope, they just resell it repeatedly tacking on ~$1,200 each time. I once saved up enough to pay off my last loan and they resold it before I could get a check in the mail which meant I didn't have enough money so I was like "screw those people" and bought a car instead. Probably not a good plan but, you know, screw 'em. Don't even think they bother to send a bill anymore since they'd have to fight with the IRS to (not) get money out of me.