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Opening a bank with unpaid student loans

  • 30-04-2019 8:14pm
    #1
    creditcarder
    Closed Accounts Posts: 494 ✭✭


    If I open a bank account, can my account be frozen/the money taken out from an unpaid student loan?


Comments

  • #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,358 Mod ✭✭✭✭Jim2007


    creditcarder wrote: »
    If I open a bank account, can my account be frozen/the money taken out from an unpaid student loan?

    Of course, if the loan was big enough to make it worth the bank's while to go and get a court order.

    But then if there is sufficient amounts involved it would also be worth while for them to get an order bring in the bailiffs if they thought you had sufficient goods or funds in your possession to cover the loans.

    It could also happen that your loan gets sold to a more aggressive third party who takes action against you.

    What are you trying to do. Nobody can tell you what exactly what will happen in any case since we don't know the people involved in the decision making process.


  • #3
    creditcarder
    Closed Accounts Posts: 494 ✭✭creditcarder


    Jim2007 wrote: »
    Of course, if the loan was big enough to make it worth the bank's while to go and get a court order.

    But then if there is sufficient amounts involved it would also be worth while for them to get an order bring in the bailiffs if they thought you had sufficient goods or funds in your possession to cover the loans.

    It could also happen that your loan gets sold to a more aggressive third party who takes action against you.

    What are you trying to do. Nobody can tell you what exactly what will happen in any case since we don't know the people involved in the decision making process.

    Well, its been more than a few years and there's been no movements.

    Stupid of me I know, but I'd rather get a jib abriad rather than struggling to find work in Ireland. I'll pay it back as I'd get a mortgage when I'm older.

    Hmmmmm, so keeping money in a bank may not be safe.

    Surely I'd have warning to pay back some to avoid a court order? I'm more worried about it being frozen in transit tbh.


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