Q: In the state of Louisiana can student loans take your wrongful death settlement money?
I have recently settled on a wrongful death case of my son. Over the last year I have let my loans go into default. Will they take my settlement money because of this?
A:
There are ways you can try to make this unlikely, but it's money you have and they can execute on this. There are defenses to student loans. First, is the person holding the loan the same as the original lender? If not they have to show that they have an assignment. Contact a member of NACA
If you do owe the money and there's no defense you can ask if you can borrow a lump sum from someone will they agree to a compromise amount. Sometimes they will, just because they paid cents on the dollar and a little profit beats nothing.
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