I defaulted on my student loan aboput a year ago.  I owe about 4500.  It was sent to collections a few months ago.  I usually justy ignore the call and let the phone ring.  When I finally answered,  the guy at the other end went into a usual spiel of "why havent you been making payments on your student loan" etc etc."  I told him that I had no assets or money and to please take legal action against me and hung up.  He phoned back and told me "that I better smarten up", and I told him to please not contact him, and hung up.  Then I have ignored the next few calls.

 

The truth is I have no assets.  I have no car, home, savings, bonds, etc.  I was actually homeless for a few months last year due to some personal problems, but now I am renting a shared apartment.  I currently have no way of paying for my loans.  Perhaps in the future?

 

My question is if you tell them over the phone or write them explaining that you would rather have legal action taken against you than deal with collections, will they stop calling?  I'm sure that CSL won't try to sue me because they have nothing to gain from me, and would likely cost them more money tahn it;'s worth.  Will they eventually garnish my wages?

 

I've just handed in my tax forms for 2005 and 2006, and I'm sure they will keep the returns, which is fine by me.  Will they eventually garnish my wages too?  And what are the long term reprocussions, besides a negative credit rating?

 

And help you can give me would be greatly appreciated

 

Thanks

 

Johnny