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February 16, 2016 – Last Thursday, Paul Aker was at home minding his own business when seven US Marshals showed up at his front door. According to Aker he was forced to the ground, handcuffed and hauled off to a holding cell. The marshals told him that he was being arrested for defaulting on a 1988 student loan. The amount owed was $1,500.
The US Marshals Service isn’t saying much about the arrest. But according to news reports, they are getting ready to serve another 1,500 people similar arrest warrants in the Houston area alone. In the case of Aker, the default is going to cost him a lot more than the original amount borrowed.
Aker has told reporters that he was taken from his holding cell to a court room. There, a judge lectured him about paying is loans and ordered him to sign a repayment agreement if he wanted to be let go. The amount owed, with principle and interest, was $5,700. In addition to that, he was ordered to pay a fine to cover court costs and the amount of money to arrest him amounting to roughly $1,300. He has until March 1st to pay the latter fine. If he doesn’t, he is subject to re-arrest.
The bottom line is that if you are in default on your student loans, it may be time to get on a repayment plan. Not doing so could apparently get you hauled off to jail.
Here is an in interview with Aker that was done by Fox 26 News in Houston.
byJim Malmberg
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Credit Issues 
