wages being garnished
Date: Thu, 04/05/2007 - 12:19
wages being garnished
I know you don't want to hear this, but any payment plan the stu
I know you don't want to hear this, but any payment plan the student loan company would accept to stop the garnishment would be significantly more than 15%. I would bite it and deal with it for 90 days..After that they may reconsider making arrangements you can afford. Good luck.
Titanlyons, I have just finished a garnishment of 25% for 5 mont
Titanlyons, I have just finished a garnishment of 25% for 5 months. I didn't think I could do it, but you'd be amazed the things you can cut back on in order to make it. You'll get through it. PM me if you want. Good luck.
Quote:Here's the problem. I owe a student loan from 1995. I went
Quote:
Here's the problem. I owe a student loan from 1995. I went to school in NY for about 3 months, got suspended cause my mom, who I thought actually took the loan, never paid anything the whole time. In August of that year they told me I had to pay the loan anyway. If I can go back to school I would pay it but I cant afford to quit my job to go if my wages are being garnished. I want to pay it but not at 15%. Is there anything I can do? If I can consolidate my debts I can make one payment a month instead of three or four a month when they are all due around the same time. So, thats my problem. My credit is thru the floor. |
This sounds like a defaulted federal loan and as such you do not have a choice...you have to pay it. They will garnish your wages, your taxes and then your social security. There is no SOL on federal debt so it will never go away.
Let's face it...quitting a job to avoid a default garnishment is a dumb idea. Why would you give up 85% for you income to avoid paying 15%??? You cant get unemployemnt if you quit and the governemnt will catch up to you on shortly as student loans can get information from the IRS. It is a loosing battle so my suggestion is to read the basic student loan info at the top of this forum. You can rehab or consolidate but you have to realize that you have to pay it.
Dbaker is right, you can get through it. I had defaulted on my s
Dbaker is right, you can get through it. I had defaulted on my student loans and had my wages temporarily garnished, I survived, and actually what they garnished was less than the payment. But now I am back on track, Dbaker is also correct in saying when you start cutting back on the little things, you would be surprised at what they add up to. Make your temporary cutbacks and you will get back on track. There is no way out of paying on a federal student loan.
Wages being garnished
15% or 25% I could live with. My wages have been garnished 50% since 1999. Child support, student loans, and medical bills. I'm in so deep I hardly pay attention to who's taking what from my check. The government thinks that taking my driver's lisence away is a good motivator, but instead it restricts my ability to make money. Forced to quit school and go to work full-time, I live in a poorly insulated garage. I have had two surgeries since I quit school, and several hospital visits.
The State of Idaho provides that I get to keep 50% of my paycheck. I had heard that this varied from state to state, but I did not consider that Idaho might be higher than most states. I am trapped in poverty. Should I consider trying to move to a different state?
50%? What do they expect you to live on? And this has been goi
50%? What do they expect you to live on? And this has been going on for 8 years? How much longer do they plan on doing this? I didn't realize they could garnish wages for medical bills. You have my sympathy.
Yes I would think about moving to anoher state. Because (someon
Yes I would think about moving to anoher state. Because (someone correct me if I'm wrong) I thought that the total garnishment of one's pay was about 25%.
Yes Law Student, I too, thought that: a) only 1 garnishment
Yes Law Student, I too, thought that:
a) only 1 garnishment at a time;
and,
b) 25% was the max per, federal guidelines (although I suppose CS could take more).
