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Everything You Need To Know About Student Debt| Student Loan Experts

If student loan debt is your reality, let us guide you in the right direction to gaining your financial freedom from your student loan debt once and for all.
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Obama Forgives $7.7 Billion Dollars Of Student Loan Debt-Do You Qualify?

Obama Forgives $7.7 Billion Dollars Of Student Loan Debt-Do You Qualify?
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Testimonials-Student Debt - St.Petersburg, FL

Testimonials-Student Debt - St.Petersburg, FL | Student Loan Repayment Assistance | Scoop.it
student loan consultants is an independent educational consulting agency providing student debt relief for families living in the greater st.petersburg region.
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Student Loan Debt Consulting , Student Debt - St.Petersburg, FL

Student Loan Debt Consulting , Student Debt - St.Petersburg, FL | Student Loan Repayment Assistance | Scoop.it
student loan consultants is an independent educational consulting agency providing student debt relief for families living in the greater st.petersburg region.
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Student Loan Debt Relief | Know Your Options

Student Loan Debt Relief | Know Your Options | Student Loan Repayment Assistance | Scoop.it
Get free student loan debt relief today, remove default status, wage garnishment and tax off sets in 4-8 weeks. Everyone qualifies for loan forgiveness.
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Student Loan Help | Student Loan Experts

Student Loan Help | Student Loan Experts | Student Loan Repayment Assistance | Scoop.it
Contact Us Today To Qualify For Student Loan Forgiveness, Remove Default Status, Wage Garnishment & Tax Off Sets In 4 Weeks | Qualify For a $5 Loan Payment
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Student Loan Help | Student Loan Experts

Student Loan Help | Student Loan Experts | Student Loan Repayment Assistance | Scoop.it
Contact Us Today To Qualify For Student Loan Forgiveness, Remove Default Status, Wage Garnishment & Tax Off Sets In 4 Weeks | Qualify For a $5 Loan Payment
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Student loan borrowers are caught off guard by tax refund offset for student loans

Student loan borrowers are caught off guard by tax refund offset for student loans | Student Loan Repayment Assistance | Scoop.it

student loan tax off set

 

 

Student Loan Experts's insight:

Step 1: Check Your Refund Status Before You File! 1-800-204-3107(IRS Hotline)

Step 2: If you are on the tax off set list or you are behind on your student loans call Now! (727)767-0321 or contact us online

 http://www.defaultedstudentloanhelpnow.com/

It’s that time of year again – tax time. While you may not look forward to the actual filing of your taxes, many consumers do look forward to getting that refund check. In fact, most start planning what they will do with that refund long before tax season.

 

Whether you were planning on putting a down payment on a new vehicle, putting it in savings, catching up on those Christmas bills or paying off debt, finding out your federal or state tax refund has been seized can be a nasty surprise.

 

[Understand student loan defaults and tax refunds.]

 

Many federal student loan borrowers are caught off guard the first time their refund is taken. This will happen if the loan defaults – no payment for 270 days – and no payment arrangements are made. If you contact the loan holder and start rehabilitation or another type of payment plan and make those payments on time, chances are the process won’t be initiated.

 

The process for what is commonly called garnishment starts with initial certification for Treasury Department offset several months before tax time – usually in the fall. You will receive a notice that the loan holder is submitting your debt for tax offset and have the opportunity to appeal this action. This notice is generally sent to the address you used the last time you filed your taxes or to the address on file at the loan holder. Some reasons for appeal include:

– The debt is paid in full.

– The loan should not be in default.

– You may be eligible for discharge because a school closed or falsely certified the loan.

– The borrower is deceased or permanently disabled.

– The loan should have been refunded by the school.

– The loan is not yours due to identity theft.

– The loan was discharged in bankruptcy.

 

If you think you have a valid reason to avoid offset, you should submit your appeal within 65 days of the date of the notice. If you wish to review your loan file, you must make that request within 20 days of the notice and request an appeal within 15 days of that request.

 

All requests must be in writing to the loan holder, whose address will be included in the notice of offset. If you request an appeal within those time frames, your offset will generally be put on hold while you wait for a hearing. Requests made after that will not halt the offset process, but if you succeed in your appeal the offset amount will be returned to you.

 

If you file your taxes jointly, your spouse may also request to have his or her portion of the refund returned. This is called an injured spouse claim and is filed directly through the IRS.

 

[Find out how getting married could affect your student loan repayment.]

 

Once your account has been certified for Treasury offset, and there is no successful appeal, it will remain in this status until the default is resolved through rehabilitation, consolidation or by paying the loan in full. This certification does not limit the garnished amounts to tax refunds but can include other types of federal payments including: wages for federal employees, including military pay; Social Security benefits, other than Supplemental Security; some federal bond payments; and federal retirement benefits.

 

In some cases, especially when Social Security benefits are offset, the borrower can file a financial hardship appeal to the loan holder to receive a portion or all of the garnishment back. If Social Security is your only income, and losing a portion of it will drop you below a minimal standard of living, you should submit this appeal to the loan holder. You will likely be asked to submit proof of all income and expenses as well as other forms of support you may receive.

 

[Learn about common tax filing rules for student loan credits and deductions.]

 

If you take the trouble to go through the appeal process, the Student Loan Ranger encourages you to take the opportunity to resolve the student loan default while you are at it. Remember there is no statute of limitations on federal student loans, so unless and until you resolve the default, it will continue to haunt you until – well, forever.

 

Student loans that are not in default are eligible for lower payment options including theincome-driven repayment plans, which set the payments based on your income, and have a forgiveness component after a certain number of years. If your income is very low, such as someone whose only income is Social Security, those payments could be zero dollars per month.

 

While appealing the offset and resolving the default may feel intimidating to some, the process is straightforward and fact-based. Doing so will also alleviate a lot of future headaches.

 

Betsy Mayotte, director of regulatory compliance for American Student Assistance, regularly advises consumers on planning and paying for college. Mayotte, who received a B.S. in business communications from Bentley College, is a frequent contributor to ASA’s SALT Blog; responds to public inquiries via the advice resource “Just Ask;” and is frequently quoted in traditional and social media on the topics of student loans and financial aid.

 

Related Topics:

Sallie Mae To Repay Millions Ripped Off From Student Loan Borrowers

Parents need to beware of student loan pitfalls

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Federal Student Loan Help|Student Loan Experts

Contact Us Today To Qualify For Student Loan Forgiveness, Remove Default Status, Wage Garnishment & Tax Off Sets In 4 Weeks | Qualify For a $5 Loan Payment
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What is Defaulted Student Loans?

What is Defaulted Student Loans? | Student Loan Repayment Assistance | Scoop.it
What Happens if you Default on a Federal Student Loan?

To default means you failed to make your payments on your student loan as scheduled according to the terms of your promissory note, the binding legal document you signed at the time you took out your loan.

 

Defaulting on student loans is a serious matter that deserves a lot of consideration. Before you begin applying for student loans, it’s wise to learn more about the consequences of default, how to avoid it and, if you're already in default, how to get out of it. See also Trouble Repaying Debt or how to settle defaulted federal student loans for less than what you owe.

 

You are responsible for repaying your student loans even if you do not graduate, have trouble finding a job after graduation, or just didn't like your school. If you do not make any payments on your federal student loans for 270-360 days and do not make special arrangements with your lender to get a deferment or forbearance, your loans will be in default.

Note that student loans are now generally not dischargeable through bankruptcy. It is fairly difficult to satisfy the requirements for an undue hardship petition. Even if you satisfy the requirements of an undue hardship discharge, often this will result in just a partial discharge of the debt.

 

Two options available for postponing repayment of your student loans are deferments and forbearances. If you are thinking about defaulting on your student loans, ask the lender whether you are eligible for a deferment or forbearance before you default.

 

If I don’t make my loan payments, when is my loan considered to be in default?

Default occurs when you fail to make a payment for 270 days.

 

Tax Refund Offsets  Your Federal Benefits Taken    Wage Garnishmet

The IRS can intercept any income tax refund you may be entitled to until your student loans are paid in full. This is one of the most popular methods of collecting on defaulted loans, and the Department of Education annually collects hundreds of millions of dollars this way. In some cases, you can challenge a tax refund offset.

 

The government can take some federal benefit payments (including Social Security retirement benefits and Social Security disability benefits, but not Supplemental Security Income) as reimbursement for student loans.

 

The government cannot take any amount that would leave you with benefits less than $9,000 per year or $750 per month. And, it cannot take more than 15% of your total benefit.

 

For example, if Doug receives monthly federal benefits in the amount of $900, the government may take either $150 (the amount of Doug's $900 benefit that is over $750) or $135 (15% of Doug's total benefit of $900), whichever is less. So, in this case, the government can take only $135 each month.

 

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.  Student loan wage garnishment is a way for institutions to collect on Federal loans by acquiring a percentage of the borrower’s paycheck and then directly transferring the amount to the lender.

 

                  Remove Default Status in 4 Weeks!
 
What We Can Do:

Here at Student Loan Consultants of America we are able to get your student loans out of default within 4-6 weeks through several government programs you may qualify for, this will allow you to file your taxes and receive a monthly payment that can go as low as $5. This will clear up your credit report and you will then be able to qualify for additional financal aid please give us a call.

 

                                        (727) 767-0321

http://www.defaultedstudentloanhelpnow.com/#!defaulted-student-loans/c1duo

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What is Student Loan Wage Garnishment?

What is Student Loan Wage Garnishment? | Student Loan Repayment Assistance | Scoop.it

What is 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.  Student loan wage garnishment is a way for institutions to collect on Federal loans by acquiring a percentage of the borrower’s paycheck and then directly transferring the amount to the lender.

 

Garnishment laws allow the Federal government to take up to 15% of the borrower’s wages and/or up to 100% of IRS tax refunds. Some states allow student loan garnishments up to 25% of a borrower’s wages.  In addition, no notice to the debtor is required to garnish tax refunds; nor do the lenders need a court order to begin a student loans wage garnishment; levy bank accounts and/or seize property.

 

             Remove Wage Garnishment with in 4 Weeks!

            http://www.defaultedstudentloanhelpnow.com/

                        Call Now (727)767-0321

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Getting out of Default/Student Loan Forgiveness

Defaulting on student loans is a serious matter that deserves a lot of consideration. Before you begin applying for student loans, it’s wise to learn more abou
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Defaulted Student Loan Help/The Center For Student Debt Reform

Defaulted Student Loan Help/The Center For Student Debt Reform | Student Loan Repayment Assistance | Scoop.it
Remove defaulted student loan status in 4-8 weeks, to remove wage garnishment it usually takes 4-10 weeks.
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Student Loan Experts: Complete Guide To Recovering From Student Loan Debt In 2016

Student Loan Experts: Complete Guide To Recovering From Student Loan Debt In 2016 | Student Loan Repayment Assistance | Scoop.it
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Student Loan Debt Repayment Options - St.Petersburg, FL

Student Loan Debt Repayment Options - St.Petersburg, FL | Student Loan Repayment Assistance | Scoop.it
Understanding how to repay your federal student loans can save you a lot of time and money. We’re here to help you manage repayment and answer any questions you have along the way.
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Student Loan Debt Relief Programs - St.Petersburg, FL

Student Loan Debt Relief Programs - St.Petersburg, FL | Student Loan Repayment Assistance | Scoop.it
Struggling with student loan debt? Our student loan counseling service can help you explore repayment options and lower your monthly payments. (813)562-8825
Get student loan debt relief today!
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Student Loan Debt Relief | Know Your Options

Student Loan Debt Relief | Know Your Options | Student Loan Repayment Assistance | Scoop.it
Get free student loan debt relief today, remove default status, wage garnishment and tax off sets in 4-8 weeks. Everyone qualifies for loan forgiveness.
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Struggling With Student Loan Debt | Know Your Options | Debt Relief

Get free student loan debt help today, remove default status, wage garnishment and tax off sets in 4-8 weeks. Everyone qualifies for loan forgiveness.
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Student Loan Help | Student Loan Experts

Student Loan Help | Student Loan Experts | Student Loan Repayment Assistance | Scoop.it
Contact Us Today To Qualify For Student Loan Forgiveness, Remove Default Status, Wage Garnishment & Tax Off Sets In 4 Weeks | Qualify For a $5 Loan Payment
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Student loan borrowers are caught off guard by tax refund offset for student loans

Student loan borrowers are caught off guard by tax refund offset for student loans | Student Loan Repayment Assistance | Scoop.it

student loan tax off set

 

 

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Student Loan Experts's curator insight, February 11, 7:23 PM

Step 1: Check Your Refund Status Before You File! 1-800-204-3107(IRS Hotline)

Step 2: If you are on the tax off set list or you are behind on your student loans call Now! (727)767-0321 or contact us online

 http://www.defaultedstudentloanhelpnow.com/

It’s that time of year again – tax time. While you may not look forward to the actual filing of your taxes, many consumers do look forward to getting that refund check. In fact, most start planning what they will do with that refund long before tax season.

 

Whether you were planning on putting a down payment on a new vehicle, putting it in savings, catching up on those Christmas bills or paying off debt, finding out your federal or state tax refund has been seized can be a nasty surprise.

 

[Understand student loan defaults and tax refunds.]

 

Many federal student loan borrowers are caught off guard the first time their refund is taken. This will happen if the loan defaults – no payment for 270 days – and no payment arrangements are made. If you contact the loan holder and start rehabilitation or another type of payment plan and make those payments on time, chances are the process won’t be initiated.

 

The process for what is commonly called garnishment starts with initial certification for Treasury Department offset several months before tax time – usually in the fall. You will receive a notice that the loan holder is submitting your debt for tax offset and have the opportunity to appeal this action. This notice is generally sent to the address you used the last time you filed your taxes or to the address on file at the loan holder. Some reasons for appeal include:

– The debt is paid in full.

– The loan should not be in default.

– You may be eligible for discharge because a school closed or falsely certified the loan.

– The borrower is deceased or permanently disabled.

– The loan should have been refunded by the school.

– The loan is not yours due to identity theft.

– The loan was discharged in bankruptcy.

 

If you think you have a valid reason to avoid offset, you should submit your appeal within 65 days of the date of the notice. If you wish to review your loan file, you must make that request within 20 days of the notice and request an appeal within 15 days of that request.

 

All requests must be in writing to the loan holder, whose address will be included in the notice of offset. If you request an appeal within those time frames, your offset will generally be put on hold while you wait for a hearing. Requests made after that will not halt the offset process, but if you succeed in your appeal the offset amount will be returned to you.

 

If you file your taxes jointly, your spouse may also request to have his or her portion of the refund returned. This is called an injured spouse claim and is filed directly through the IRS.

 

[Find out how getting married could affect your student loan repayment.]

 

Once your account has been certified for Treasury offset, and there is no successful appeal, it will remain in this status until the default is resolved through rehabilitation, consolidation or by paying the loan in full. This certification does not limit the garnished amounts to tax refunds but can include other types of federal payments including: wages for federal employees, including military pay; Social Security benefits, other than Supplemental Security; some federal bond payments; and federal retirement benefits.

 

In some cases, especially when Social Security benefits are offset, the borrower can file a financial hardship appeal to the loan holder to receive a portion or all of the garnishment back. If Social Security is your only income, and losing a portion of it will drop you below a minimal standard of living, you should submit this appeal to the loan holder. You will likely be asked to submit proof of all income and expenses as well as other forms of support you may receive.

 

[Learn about common tax filing rules for student loan credits and deductions.]

 

If you take the trouble to go through the appeal process, the Student Loan Ranger encourages you to take the opportunity to resolve the student loan default while you are at it. Remember there is no statute of limitations on federal student loans, so unless and until you resolve the default, it will continue to haunt you until – well, forever.

 

Student loans that are not in default are eligible for lower payment options including theincome-driven repayment plans, which set the payments based on your income, and have a forgiveness component after a certain number of years. If your income is very low, such as someone whose only income is Social Security, those payments could be zero dollars per month.

 

While appealing the offset and resolving the default may feel intimidating to some, the process is straightforward and fact-based. Doing so will also alleviate a lot of future headaches.

 

Betsy Mayotte, director of regulatory compliance for American Student Assistance, regularly advises consumers on planning and paying for college. Mayotte, who received a B.S. in business communications from Bentley College, is a frequent contributor to ASA’s SALT Blog; responds to public inquiries via the advice resource “Just Ask;” and is frequently quoted in traditional and social media on the topics of student loans and financial aid.

 

Related Topics:

Sallie Mae To Repay Millions Ripped Off From Student Loan Borrowers

Parents need to beware of student loan pitfalls

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Student Loan Help | Student Loan Experts

Student Loan Help | Student Loan Experts | Student Loan Repayment Assistance | Scoop.it
Contact Us Today To Qualify For Student Loan Forgiveness, Remove Default Status, Wage Garnishment & Tax Off Sets In 4 Weeks | Qualify For a $5 Loan Payment
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State Attorneys General Call on Feds to Forgive Fraudulent Student Loans | Jon Queally | BillMoyers.com

State Attorneys General Call on Feds to Forgive Fraudulent Student Loans | Jon Queally | BillMoyers.com | Student Loan Repayment Assistance | Scoop.it

In a letter sent Thursday to Secretary of Education Arne Duncan, the attorneys general from nine states urged the Obama administration to offer immediate federal loan forgiveness to the many thousands of students who enrolled at various for-profit schools owned by Corinthian Colleges Inc.

Corinthian, based in California, is currently under investigation in numerous states for fraudulent loan practices and has also faced a federal lawsuit filed by the U.S. Consumer Financial Protection Bureau, which accused the company of illegally targeting potential students with predatory lending schemes that it knew they likely could not afford.

“Our greatest concern comes from certain large, predatory for-­profit schools that are actively undermining our federal loan programs, depriving students of the education they promise and that the students deserve. These institutions seem to exist largely to capture federal loan dollars and aggressively market their programs to veterans and low-­income Americans,” the letter (pdf) stated. It was signed by the leading prosecutors from Massachusetts, California, Connecticut, Illinois, Kentucky, New Mexico, New York, Oregon, and Washington state.

Though Corinthian is not the only school accused of such practices, it has come to epitomize the worst habits of the for-profit, higher-education industry.

 

Click headline to read more and access hot links--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Leonard Bremner's curator insight, April 21, 2015 7:22 AM

Who said Pirites and profiterring was dead this is a true example of being mugged because you have no other option.

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What is Defaulted Student Loans?

What is Defaulted Student Loans? | Student Loan Repayment Assistance | Scoop.it
What Happens if you Default on a Federal Student Loan?

To default means you failed to make your payments on your student loan as scheduled according to the terms of your promissory note, the binding legal document you signed at the time you took out your loan.

 

Defaulting on student loans is a serious matter that deserves a lot of consideration. Before you begin applying for student loans, it’s wise to learn more about the consequences of default, how to avoid it and, if you're already in default, how to get out of it. See also Trouble Repaying Debt or how to settle defaulted federal student loans for less than what you owe.

 

You are responsible for repaying your student loans even if you do not graduate, have trouble finding a job after graduation, or just didn't like your school. If you do not make any payments on your federal student loans for 270-360 days and do not make special arrangements with your lender to get a deferment or forbearance, your loans will be in default.

Note that student loans are now generally not dischargeable through bankruptcy. It is fairly difficult to satisfy the requirements for an undue hardship petition. Even if you satisfy the requirements of an undue hardship discharge, often this will result in just a partial discharge of the debt.

 

Two options available for postponing repayment of your student loans are deferments and forbearances. If you are thinking about defaulting on your student loans, ask the lender whether you are eligible for a deferment or forbearance before you default.

 

If I don’t make my loan payments, when is my loan considered to be in default?

Default occurs when you fail to make a payment for 270 days.

 

Tax Refund Offsets  Your Federal Benefits Taken    Wage Garnishmet

The IRS can intercept any income tax refund you may be entitled to until your student loans are paid in full. This is one of the most popular methods of collecting on defaulted loans, and the Department of Education annually collects hundreds of millions of dollars this way. In some cases, you can challenge a tax refund offset.

 

The government can take some federal benefit payments (including Social Security retirement benefits and Social Security disability benefits, but not Supplemental Security Income) as reimbursement for student loans.

 

The government cannot take any amount that would leave you with benefits less than $9,000 per year or $750 per month. And, it cannot take more than 15% of your total benefit.

 

For example, if Doug receives monthly federal benefits in the amount of $900, the government may take either $150 (the amount of Doug's $900 benefit that is over $750) or $135 (15% of Doug's total benefit of $900), whichever is less. So, in this case, the government can take only $135 each month.

 

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.  Student loan wage garnishment is a way for institutions to collect on Federal loans by acquiring a percentage of the borrower’s paycheck and then directly transferring the amount to the lender.

 

                  Remove Default Status in 4 Weeks!
 
What We Can Do:

Here at Student Loan Consultants of America we are able to get your student loans out of default within 4-6 weeks through several government programs you may qualify for, this will allow you to file your taxes and receive a monthly payment that can go as low as $5. This will clear up your credit report and you will then be able to qualify for additional financal aid please give us a call.

 

                                        (727) 767-0321

http://www.defaultedstudentloanhelpnow.com/#!defaulted-student-loans/c1duo

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47 members of Congress are still paying off their student loans, too

47 members of Congress are still paying off their student loans, too | Student Loan Repayment Assistance | Scoop.it
Yep, even your elected legislators are artfully ducking calls from Fannie Mae. It’s news that’s sure to either make you smile with vengeful glee or depress the hell out of you.
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Defaulted Student loan Help Now

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Getting out of Default/Student Loan Forgiveness

Defaulting on student loans is a serious matter that deserves a lot of consideration. Before you begin applying for student loans, it’s wise to learn more abou
Student Loan Experts's insight:

What is 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.  Student loan wage garnishment is a way for institutions to collect on Federal loans by acquiring a percentage of the borrower’s paycheck and then directly transferring the amount to the lender.

Garnishment laws allow the Federal government to take up to 15% of the borrower’s wages and/or up to 100% of IRS tax refunds. Some states allow student loan garnishments up to 25% of a borrower’s wages.  In addition, no notice to the debtor is required to garnish tax refunds; nor do the lenders need a court order to begin a student loans wage garnishment; levy bank accounts and/or seize property.

 

The Truth about Federal Student Loan Garnishment

Paying for a college education is not what it used to be.  Today’s students who accept student loans are taking on serious financial burdens before they even put their feet through the doors of their first “after-graduation” jobs.  In an economy that offers fewer jobs mixed with skyrocketing tuition rates, the average college graduate is literally walking off the graduation ceremony floor and into a dark doom.

For the college graduate who relied on student loans to pay for a large portion of their education, a hefty amount of their after-graduation salary will be required to start the student loan repayment process within six months following graduation.  Though a student loan may qualify for a temporary forbearance or deferment, forbearances should be used as a last resort because this option may only be used a few times for a student loan borrower throughout the life of the loan and interest will continue accruing regardless.

Unlike credit cards, personal loans and real estate mortgages, student loans in default cannot be dismissed with a bankruptcy filing.   Student loans must be repaid as agreed in the original master promissory terms.  If a borrower stops making payments on student loans, the debt will eventually go into default status and the borrower forfeits the federal rights which were originally attached to the loan.   Furthermore, when a student loan goes into default status, the negative information will quickly appear on the borrower’s credit report.  Lastly, the borrower will no longer be eligible to receive future federal student loans and many would like to return to school to advance or finish an education.

 

How Can You Stop a Garnishment?

Programs to stop garnishments cater exclusively for student borrowers in these difficult times.  If you are currently defaulting on a student loan and concerned about how to avoid wage garnishment, keep in mind that there is a group of professionals offering help for these circumstances. If you are in financial hardship, speak with one of our knowledgeable consultants and our student loan refinance processors will begin work to re-mediate your financial problems

.

Student loan garnishment typically causes financial hardship for borrowers and their corresponding families. Borrowers whose wages are being garnished are advised to seek financial help.  The Federal government does offer flexible programs to assist student loan borrowers who are in default.  However, the defaulted borrower is required to make nine consecutive payments and the process may be overwhelming.  It takes time, know-how and structured effort to get payments out of default promptly and correctly.

For a free consultation to stop student loan wage garnishment, reach out to our office by calling (727) 767-0321, or contact us online through our submission form. Let us help you find a peace of mind and get your finances back in order.

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