I am moving away from the USA and I don't really plan on coming back.
What are the consequences if I stop paying my student loans?
My current debt is ~50,000 USD in federal loans.
I know next to nothing about this subject, so any information would be insanely helpful.
Please provide sources with your answers.
I ask this question out of necessity, not because it's something I'm proud to have to do.
I don't earn a lot of money, I don't have savings, and I own nothing of value. I can just barely afford to pay the loans each month as it stands.
I have no idea what sort of income I'll have after I move, I just don't want student loans to be the thing that keeps me locked down in the USA.
My thought process is: If there's no significant consequence for defaulting on the loans, I'll be hopelessly scraping to make the payments each month for no reason other than to save grace.
- Does USA credit score transfer to other countries?
- Will someone come after me?
- Could I be extradited?
- Would I be arrested if I ever came back to visit a family member?
- Would someone go after my family to collect the debts? Can they do that?
- Could the USA somehow garnish my pay in another country?