I think that there is a big difference between, "unsecured credit" and "secured credit". A student loan or in his case a company training program may fall under "unsecured", like a credit card is for example. He puts up no collateral for the loan (or credit card). A home mortgage is a "secured loan" as well as a car loan. You are putting up the house as collateral, the car is as well. Miss too many payments, they take it away.
They cannot take away his education. They can mess with him, sure, but that driving program was (i would think) unsecured. Still a promissory note, so to speak to pay back, but they cannot do much to him.
Can I still work for a trucking company?
Discussion in 'Questions From New Drivers' started by MoneyMotivated, Dec 23, 2014.
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The creditor can only list the past due on your balance on your credit report for seven years.
Finally, the Statute of limitations on debt prevents the Credit card issuer from taking you to court over old debts, but it doesnt stop creditors from coming after you for payment. -
Chinatown Thanks this.
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He ended up paying 2 guys $50 to remove it, and he said, they wished they charged him more. #### OLD water tank was made out of all metal, and stone. Not like todays plastics and tin. They were nearly dead from exhaustion! lol -
Depending on how much debt you ended up collecting over the years, you might want to consider chapter 13 when you get back to the states. Most unsecured debt and some secured debt qualifies for chapter 13. One of the only items that doesn't qualify for any kind of bankruptcy is federal loans.
Without that bankruptcy protection, debtors can pursue you constantly, and even press fraud charges on you.FLATBED Thanks this. -
Just tell Schneider you were fired and say nothing about the debt
Pretty dumb advise , only takes a few strokes on a keyboard and they find out about what you owe / owed pertaining to CENTRAL
Chinatown Thanks this. -
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Most companies couldn't care less.
Those must be the GOOD ONES your always pushing , rather have applicants be honest up front than having their honesty questioned later on when it eventually comes to light.
pattyj Thanks this. -
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On a "lighter note", if he had wanted to become a trucker really bad enough when he first signed up, and if he "sold his soul", maybe he signed away his rights to his first born?
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