The Road to Serfdom
- Congress has passed laws making you a debt slave (or Serf) to the all powerful state even though bankruptcy is in the Constitution.
- Student loans are usually non-dischargeable in bankruptcy. This means that after your bankruptcy erases all your other debts, you still have to pay student loan debt. If you fall nine months behind, your lender can call the whole loan due at once.
HOUSTON (FOX 26) - Believe it or not, the US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans.
Paul Aker says he was arrested at his home last week for a $1,500 federal student loan he received in 1987.
He says seven deputy US Marshals showed up at his home with guns and took him to federal court where he had to sign a payment plan for the 29-year-old school loan.
Congressman Gene Green says the federal government is now using private debt collectors to go after those who owe student loans.
Green says as a result, those attorneys and debt collectors are getting judgements in federal court and asking judges to use the US Marshals Service to arrest those who have failed to pay their federal student loans.
Our reliable source with the US Marshal in Houston say Aker isn't the first and won't be the last.
They have to serve anywhere from 1200 to 1500 warrants to people who have failed to pay their federal student loans.
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