Student loans

Did you complete the school? Some companies have agreements that they won't hire you, others couldn't care less. Say you owe 5k, if you go elsewhere and pay them back your credit will be ok. If you don't pay they may sue you.

 

Hell. Yes.

Borrow from Uncle Sam, you pay. Fail to pay, your banking is garnished, payroll tax refund garnished, if old, social security garnished and any other electronically identifyable source of money going to you is also garnished, until it's paid. You die, your children pays.

The only way Daddy O managed to set up these last 8 years of his blessed Preside... uh.. stewardship of the great poor masses who borrowed about 1.4 trillion and risiing in student loans with about 35% to 37% in default currently is to pay on the loans 10 years then get a easement to where your payments are zero.

The other poster has it right. IF the company sent you to school on their dollar and you quit, then the school assigns the money, however many thousands left to pay to collections and sue you for payment. Like now.

My spouse went to school with FFE's blessing one year. 3 months later after having graduated with a CDL and is a full team with me, we happened to stop and call the school that trained wife, did FFE pay her school the remaining 1870 dollars? School said hell no and you are lucky to call because that was going to collections against both of you next week. We paid it then and there. We left FFE alone because we were making a ton of money hand over fist and had no reason to bite on them for that 1870. It's chump change.

 

Trucking schools are not federal aid correct? Or can you actually pull Pell and direct loans now for cdl school?

 

Trucking companies are NOT federal aid. Trucking Schools SOMETIMES have a officer on staff whose job is to sign papers making YOU the lucky recipent of federal aid.

I went to trucking school one day in Baltimore on haven street about 1988, or so. 14 bucks in my pocket, pack of smokes and some gas in my ford. School said they will want 2500 to do 4 months of weekend to get class A (No cdl laws in those days) I said I aint got it. School staffer said sign here, uncle sam will pay it, you pay uncle sam back. So I signed it. A promissory loan from Uncle Sam, similar to a student loan given to any highschooler stupid enough to sign papers in college admissions.

ANyhow... I paid it back, it only took... 7 years or so.

 

BTW we were two stupid students later in life allured by riches after college. Signed 45,000 freaking dollars to a worthless 4 year and a half a 2 year until we learned the cold realities of such a foolishness. We paid him back in about 12 years in cash full. Now we hear about talking from the Governemnt planning to forgive anyone in debt to uncle sam sometime this year or next to kick the economy again. Makes us angry.

I hope you understand.

 

Reminds me of the housing crap that went on. People got stupid 2nd, 3rd even 4th mortgages on inflated properties to buy a boat, other properties or some bloody ridiculous RV and then the gov uses my tax dollars to help them keep their home without making them sell the boat or whatever. It's enough to make you pull your hair out! They gain, I lose

 

I call that fraud!!!!! especially if you plan it in advance. What ever happened to honoring your commitments? You make a promise keep it!

 

He drove for 4 months, got ticketed for speeding and was termed.

 

People do it all the time. (Get their CDL) then skip out on the reimbursement. Sure there are penalties, but depending on what your life circumstances are, will determine whether or not you care about poor credit and garnishments. Some people get their CDL and drive for local companies, or small 1099, 2 outfit dump truck companies. Some go OTR with a family member who owns 3 or 4 trucks, they go years undetected by the creditors because they deliberately and methodically take preemptive measures to evade paying the creditors back. It hurts them in the long run though. But it is not impossible to avoid paying them back while secretly earning a living driving a truck. There are literally tens of thousands of people out there who've reneged on their debt. No bank account, no checking account, paid via comcheck or cash, they owe the IRS, havent filed a tax return in years. Basically almost living off the grid, all to avoid reimbursement. Just a miserable way to live. But that's how some folks are living out there.