[Mel0947]

My question involves collection proceedings in the State of: Louisiana

I am in need of legal counsel and help with a defaulted student loan that originated in 1995. I no longer live in the U.S., but still want to help clear this up, as the collection agency has my overseas address and I am afraid of harassment and seizure of my foreign assets, such as my house and car. Can they do this? I haven't lived in the U.S for 8 years, and have no assets there. I need advice as soon as possible and am looking for an attorney, accountant, agency, or anyone that may be able to help with this. I have read about the Income-Based Repayment plan and want to know if it applies to me, can the government really take no more than 10% of my income per month? Times are tough for our family, financially, but I would like advice on a compromise payment. Do I have to deal with this collection agency or can I deal with the U.S. Department of Education only?

[SChinFChin]

It's a very difficult question to answer since it depends on the foreign country you are in, and understanding of the laws of that country, since asset seizures would have to follow the laws of the country.

I worked in foreign finance, and some countries have exchange controls where you can't even remit funds out of the country because of the lack of US dollars. They need every last dollar they can to buy badly needed goods, and will not even approve the transfer of dollars just to settle some private debts.

If I were you, if you can't afford to make any payments, sit tight and wait to hear what they have to say to you. Since this is a US board, I don't think that'll be experts here able to comment on what can legally happen to you where you are. An expert there would help.