What happens if you default on a bar exam loan?

Defaulting on a bar exam loan is like defaulting on any other form of installment loan. While it is not a criminal offense, you will be held personally liable for repayment of the amount you borrowed. This can result in damage to your credit, harassment from a collections agent or even a lawsuit against you. If you placed any collateral on the loan, you may be forced to forfeit it. Thankfully, the lender cannot disbar you or otherwise damage your legal standing. The punishment is strictly fiscal, but it can damage your credit for many years to come.

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