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Can a collection agency place a lien on your bank account for a defaulted student loan?

Samantha Barber

in Student Loans

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Samantha Barber on March 26, 2018

Only if the collection agency has a judgment against you in court. And the judgment that means that you have been sued, gone to court, and found liable to the collection agency or lender of the amount that you have borrowed and not paid. So, unless you have been sued, you have been found due to the collection agency by a judge or a jury, and a judge has ordered a lien to enforce a judgment (make you pay), then do not. Collection agencies do not have the power to swoop in and take your money. And if you are having a problem with a collection agency, do NOT SPEAK TO THEM on the phone. Never. Under any circumstances. I can not stress this enough. Your only job is to intimidate you to pay them, often through lies and in violation of his rights. Only communicate with them in writing, preferably by certified mail, returned receipt requested. Also, you are protected against abusive collection agencies by both the Fair debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). Here are some links that I've found helpful, all good, free information. And the creditinfocenter.com has lots of different instructional pages dealing with various credit problems: http://www.privacyrights.org/fs/fs27-debtcoll.htm#6 http://www.creditinfocenter.com/rebuild/creditorharassment.shtml http://www.creditinfocenter.com/rebuild/debt_validation.shtml I Hope this helps. ALTERNATIVE ANSWER: In the U.S., you can get by default and not worry about liens, collections and foreclosures, with the help of the experts. You can receive a payment that is Taylor suited to your budget, and not have to get caught up on the payments. If you want to get help, click on the link at the bottom of this text box.


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