US Marshals Arrest Man Over Decades-Old Student Loan Debt of $1500

Feb 17, 2016, 01:29
US Marshals Arrest Man Over Decades-Old Student Loan Debt of $1500

However, now it seems the U.S. Marshal Service is arresting people for not paying their student loans. "They say, 'Shut up, you know what this is all about.' I don't have a clue".

He said seven armed deputy US Marshals showed up at his Houston home last week and arrested him for an outstanding $1,500 loan he received in 1987.

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Still, Aker was taken to court and set up on a monthly payment plan to ensure the government got it's $1500 back from the 29-year-old student loan.

"It was totally mind-boggling", Aker said. "After approximately two hours, the law enforcement officers convinced Aker to peacefully exit his home, and he was arrested without further incident", the agency said in a statement. There have been 1200-1500 people in the Houston area alone who have been hauled into federal court for not making payments on their student loans.

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Congressman Gene Green says the federal government is now using private debt collectors to go after those who owe student loans. With student loans being non-dischargeable in bankruptcy filings, many Americans are on the hook for outrageous sums that may not match their ability to pay. They also have higher interest rates, due to being riskier to the lender because of a lack of collateral. The debt collectors then go to federal court to obtain judgements against those who have not paid up, which results in warrants being issued. The amount he owed: just $1,500.

The Wall Street Journal reported past year during graduation season that 71 percent of college graduates getting bachelor's degrees leave school with an average of $35,000 to their names in student loans.

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