Student loan counseling agency Student Loan Consultants providers borrowers with options to bring loans into good standing, restore financial health Unlike other kinds of debt, student loans are rarely discharged in bankruptcy. And, the federal government has the power to garnish wages, tax refunds and even Social Security to recoup payment. We know how to… Continue reading Defaulted Student Loans 101-Here’s How To Get Out Of Default
Tax refund offsets are one of the government’s powerful tools to collect federal student loans. The government may take your income tax refund if you are in default. A number of states also have laws that authorize state guaranty agencies to take state income tax refunds. Computer records of all borrowers in default are sent to… Continue reading Tax Season is Almost Here…Are your Student loans in Default?
Christine DiGangi Failing to repay your federal student loans can have serious consequences, from a damaged credit rating and debt collection to lost tax refunds and wage garnishment. The government can also garnish your Social Security benefits, though legislators introduced a Senate bill aimed at ending this penalty on Thursday. Unveiled by a group of Democratic senators, the Protection of Social Security… Continue reading The Government Can Take Your Social Security to Pay Student Loans, But Maybe Not for Long
What is Federal Student Loan Wage Garnishment? After a Federal student loan has been in default for 270 consecutive days, the government has the ability to collaborate with the Department of Labor to begin the garnishment of wages. Federal Student loan wage garnishment is a way for institutions to collect on Federal student loans by… Continue reading Student Loan Garnishment? Here’s How to Get it Lifted
Is there a statute of limitations on student loan debt? An essay in the New York Times by a writer who strategically defaulted on his student loans has rekindled the ongoing debate about the fairness of allowing young people to be saddled with large — or even massive — debt, sometimes for the rest… Continue reading Is There a Statute of Limitation for Student Loans?
Student loan debt figures for Millennials are staggering. According to the data from the National Postsecondary Student Aid Study, conducted by the U.S. Department of Education, the class of 2015 is the most indebted class in American history. Obviously, we have a big problem brewing in the United States that has consequences for, not only… Continue reading Student Loan Debt Is Not Just For The Young
If you owe money to a creditor, it may obtain a court order to garnish your bank account or wages, which basically means that it can take money from these sources to satisfy the debt. But what if your income comes from Social Security or a pension? The rules can be a little tricky, so… Continue reading Can Garnishments Be Put on Social Security or Pension Income?
Tax refund offsets are one of the government’s powerful tools to collect federal student loans. The government may take your income tax refund if you are in default. A number of states also have laws that authorize state guaranty agencies to take state income tax refunds. Computer records of all borrowers in default are sent… Continue reading Defaulted Federal Student Loans Could Cost You That Tax Refund
What is Federal Student Loan Wage Garnishment? After a Federal student loan has been in default for 270 consecutive days, the government has the ability to collaborate with the Department of Labor to begin the garnishment of wages. Federal Student loan wage garnishment is a way for institutions to collect on Federal student loans by… Continue reading Student Loan Garnishment? Here’s How to Get it Lifted
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