Default Collections Status Questions

I graduated from the CEET program at ITT Technical Institute in 2007 and stopped paying Sallie Mae/Navient in 2012. I’m at the point in the collections process where I’ve been subpoenaed to my Superior Court in 2017, didn’t show up, lost by default and I have blocked all means of communications from the collections agency who was given a License to Kill on all of my assets. I believe I owe about $13,000 at this point.

Since 2013, when I left Lockheed Martin Space Systems to pursue my own products and business ventures, I have been happily self-employed and I own two LLCs. They can’t garnish my wages and I don’t receive a tax refund. I am also Single without children. What is the worst they can unleash outside of seizing one or more bank accounts (which I only make electronic deposits to for paying rent for my workspace).

It’s my understanding they only get one shot to seize the bank account and whatever funds that can be applied to the debt is what they get. Is this accurate? Can they legally seize more than one bank account more than one time? If they somehow discovered I have a PayPal account, can they legally seize that?

In a nutshell, my question here is- What is the worst that can happen, outside of ruined credit, considering my particular situation? I am self-employed going on 6 years and I don’t own any assets other than those that are related to my two businesses. I have not communicated with the collections agency since 2015 when I requested a copy of the Promissory Note.

I’ve read there is some sort of statute of limitations regarding the timeline of your interactions with the agency as well. Is there any truth to this?

I would appreciate any insight someone with experience in this scenario can share. Thank you!

Have you filed your Borrower Defense application?

IMHO, I think it is wrong that you should even have to go through all this. Considering that the degrees are worthless and they should be discharged in full.

If you have not filed your DTR- borrower defense applicaiton and have questions or need help. Let me know.


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