What happens if you never pay off a private student loan?

More than 3000 people default on their federal student loans every day. ... What happens when you don't pay off your debt? ... But beyond credit score, the exact repercussions of failing to pay off your student loans depend on if they are held by the federal government or a private student loan company. read more

My advice is this, if you get sued for a private student loan — go to court and you’re most likely going to get it dismissed just by going to court because they won’t show up. They’re betting and gambling on the fact that you are not going to show-up at court and that they’re going to automatically win. read more

Lawsuits are less common with federal loans than with private ones. But a lawsuit is always a possibility, especially if you ignore your student loans. If you are sued, you may find you need the help of an attorney experienced in student loan law to raise a defense against the lawsuit. You’ll be haunted by this debt until you die. read more

If you fail to pay your student loan, you probably won't find a team of armed U.S. marshals at your front door, as one Texas man did recently. But it’s still a very bad idea to ignore that debt. In most respects, defaulting on a student loan has exactly the same consequences as failing to pay off a credit card. read more

It takes the average student debt borrower 20 years to pay off their loans, and currently, over 44 million Americans hold a total of $1.4 trillion in student loan debt. But many borrowers don't know what actually happens if you are unable to make a payment. read more