No they can not, but your not the first to be lied to, and if your still in school you will hear plenty more. You did not sign it, right.
Can a loan institution suspend CDL?
Discussion in 'Questions From New Drivers' started by AZGearJammer, Sep 25, 2010.
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If the DOT is funding it.................say goodbye to a bad start, but don't worry, they don't fund them, and if they ever do, run..................run very very fast
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Well, lets see....If I do not sign it, I dont graduate and thus not be able to feed my family. Of course I signed it. Like I said earlier, I have no intention of not paying my debt. The paper did not matter to me. If I can not pay it, it means I am not working and if they could suspend it, it would not matter anyway. My credit is shot already from the economy taking a crap, so what do I care? Getting a new career is what is most important to me at this point. If not this career another. I will survive one way or another. I am a very determined person and feeding and providing for my family is the most important thing to me.
The whole point of this tread was to ask if it was possible for a financial institution to suspend or revoke a CDL due to non-payment. -
IF they could, I could only see it after a determination has been made that you just aren't going to even try...Cutting you off from the means to make the payment is illogical but I'm pretty sure they have no ability to do this...Sounds like a weak scare tactic...
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Did you read everything you signed ????
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Just because you signed something doesn't always mean it's worth the paper it's written on...MANY co-signers on car and home loans have walked away with out liability or obligation when it goes to court..They can put whatever they want in a legal document, doesn't mean it'll hold up in court...Not saying that's the case here, although it sounds like it, but just signing something doesn't mean it's legally binding...Sad but true...
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Again, thanks for all the replies. I agree that it is a weak scare tactic. Any thoughts on a good starter company?
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the words "starter company" and "good" are often incongrueous in the same sentence.
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