What Happens To Your Loans If You Go To Jail??

Child support payments, federal student loans, and court costs or restitution will remain on felons’ records even after bankruptcy.

Creditors can still ask for payment while the debt will show up on a credit report for seven years.

Old debts are often sold, so an unpaid loan can show up years later on a credit report.

What happens to your bank account when you go to jail?

If you have it in a bank account, then that money stays in your bank account. It will continue to sit in your bank account throughout your duration in jail. Frozen by the Government. If you’ve been charged or convicted of a crime where the government believes you benefitted financially, they may freeze all your assets.

Can you go to jail for repossession of car?

You won’t go to prison for not missing your car payments or for trying peacefully to stop the repossession. In some states, the repo agent can bring an officer or sheriff along for the repossession. This is not to arrest you — it is usually to help keep the peace, especially if the agent is afraid you might retaliate.

What happens when the police impound your car?

Police officers can impound your car for a variety of reasons. If you are arrested for a traffic violation, like a DUI, and no one else is present and able to drive your car, then they will typically impound it. Illegally parking or abandoning your vehicle also risks impoundment.

Photo in the article by “Flickr” https://flickr.com/78428166@N00/4994194135