Some of us might learn the hard way but it’s never to late to stop using anything involving banks or credit. If you cannot afford it via cash than you should not resort to credit cards or anything tied to the banks/government.
What do you think celebrities do with their cash? Certainly NOT kept in a bank vault!
HuffPO-
Those who default on their student loans are at risk of having their bank accounts drained and wages garnished — more than 30 years after the fact, according to a Bloomberg report.
Such was the situation that confronted 58-year-old Linda Brice, a first grade teacher in Los Angeles who defaulted on $3,100 she had borrowed more than three decades ago to pay for college.
Goldsmith & Hull, a law firm representing the federal government, withdrew $2,496 from her bank account and seized a quarter of her wages, which amounted to more than $900 a month. This was after the chief federal judge in Los Angeles sided with Brice, ruling that she should pay only $25 a month due to her financial state.