I am about to be garnished for a student loan. Options?

I know there is a student loan restructuring program, which is a program designed to remove your loan from default by restructuring your loan(s) into a new loan. Garnishment and collection attempts are supposed to stop, and the Credit bureaus are supposed to be notified of existing account paid with a zero balance since you are basically redoing the loan into a new one.

I don't know anyone who has utilized this type of program and can't vouch for the legitimacy. I have pm'd you details that I found so you can call and check it out.

Also, if you entered all of your details when you registered with this forum, a debt counselor should be contacting you shortly. They will be able to discuss your situation and explain possible options specific to your circumstances.

Hi Tiffany,

I am in the same situation, can you send me the info too.

Zion

Try contacting Federal Direct Consolidation Loan Program, (800)557-7392. This is administered by the U.S. Dept. of Education. They should be able to answer any questions you have and send you a packet to complete. Good Luck.