Comments on: Student Loans – Can you walk away?

By: Hadley_F

Hadley_F — Thu, 11 Jun 2009 17:01:55 +0000

I believe collection agencies are legally allowed to pursue truant borrowers abroad, but because it costs the agencies more, they have less incentive. So like Elisa said, there are still no guarantees that a person won’t be followed even to Canada!

By: student loan tips

student loan tips — Wed, 10 Jun 2009 20:44:47 +0000

It's best new, with federal loan, myr payment did not cover the entirety of the accumulated interest since july. however, thanks for posting

By: elisa_at_thrive

elisa_at_thrive — Wed, 10 Jun 2009 19:08:24 +0000

@ David = good question.

There are students who are staying abroad as a means of not paying back their debt, but this is choosing exile, and the debt, (unfortunately) doesn't just vanish. It will be here, waiting for them, if they ever return.

And, moving abroad isn't even a guarantee that lenders will stop chasing you! Chances are, in Canada, you'd still get hounded about your debts.

But, I'm not sure about what the law actually says about debtors chasing debt abroad. Anyone else know?

By: David Fisher

David Fisher — Wed, 10 Jun 2009 17:30:04 +0000

What about moving to Canada?
Is there a statute of limitations of debt chasing?

By: Jennifer

Jennifer — Wed, 10 Jun 2009 16:48:05 +0000

Thanks for all the resources! I completely did not understand what “consolidation” was and I've been wondering whether it's something I should do or not.

Now I just have to figure out which form of repayment I should take on…