Sent to collections?

Question

I owe $2000 to collections but have not job and no way to get this money.

What if I dont pay it will it just go onto my credit and I dont have to pay?

Answer 1

If it is a school loan and you normally get taxes back they will keep them until you pay off the loan

Answer 2

I am assuming it's a student loan.

In 3rd year, I was still in school, but didn't apply for a loan that year.  The government thught I had finished school because I didn't reapply.  Sure enough they start taking money out of my account.  Finally when they run out after a few months, they called me.

I tried to explain to them several times...always by yelling at them...I was upset...it didn't work.  Finally I called them, was very sincere and nice...and sure enough, the person on the line said it was a mistake, she'll take care of everything.  My payments were deferred for another 2 years.  I realize in my case I was still in school.  But I know for financial aid, any company will work with you.  They will withhold payments for a year if need be.

Good luck.

Answer 3

yea it will go on your credit and if they contact you and u get a job they can garnish your wages but ever state actuall has an expiration ate on debt. most states its 5 yrs. if in those 5 yrs u dont ackowledge your debt in anyway it can be dismissed. if u get a certified letter dont go pick it up. dont answer the phone nothing. granted tht is the annoying way to handle it. if you ever want to finance a car or house you need tht debt taken care of.