If Ihave defaulted on 2 private loans from Sallie Mae, it sue me and put a lien on my house?
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If Ihave defaulted on 2 private loans from Sallie Mae, it sue me and put a lien on my house?
Asked on December 7, 2011 under Bankruptcy Law, New Hampshire
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, if you default on a loan from anyone, including Sallie Mae, you can be sued for the money you owe under the loan agreement. If you are sued and lose, but still do not pay the money you owe, the successful plaintiff (the lender or creditor who sued you) can then resort to various means of enforcing its debt and getting its money, including; garnishing wages; levying on a bank account; executing on (taking and selling) personal property; and even putting a lien on real property.
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