Garnished Student Loans
Date: Sun, 11/11/2007 - 07:35
Garnished Student Loans
FYI- I don't know the answer-but here is a thread I found on it
FYI- I don't know the answer-but here is a thread I found on it at http://www.debtconsolidationcare.com/forums/about7853.html it's a thread from 2006, but maybe it will give you some answers. If not, someone who knows will probably come along!!..karen :D
I don't think so...I do a lot of student loan garnishments and I
I don't think so...I do a lot of student loan garnishments and I've never seen anyone try..But I may be talking out of my butt on this.
You cannot consolidate while your student loan is in garnishment
You cannot consolidate while your student loan is in garnishment. Rehab it first...to rehab a garnishment you need to make voluntary payments over and above the garnishment. Once you rehab, then you can consolidate
Soaplady, is there a time limit that a debtor has to rehab the l
Soaplady, is there a time limit that a debtor has to rehab the loan?
Quote: Soaplady, is there a time limit that a debtor has to re
Quote:
Soaplady, is there a time limit that a debtor has to rehab the loan? |
A rehab can be done at anytime. You have to make 9 payments for Staffords and 12 for Perkins loans. You must have a balance of at least $1000 after you complete the rehab payments. Minimum payment is $50/month. A standard payment for rehab is generally considered to be a minimum of 1% or your loan payment over 10 years (120 months) If you cannot afford a standard 1% payment you are entitled under the HEA to "reasonable and affordable payments." You will more than likely have to provide proof on income and expenses....pay stubs, and full financial disclosure.
When rehabbing with a garnishment in place, you are required to make rehab payments over and above the garnishment.
Can you make the payments with a money order becuase I do not ha
Can you make the payments with a money order becuase I do not have a checking account? I know I am at the start of all of this, but I am just looking ahead.
So if wages were being garnished for 200 dollars then I would ne
So if wages were being garnished for 200 dollars then I would need to make 250?
can anyone answer my question about the money order thing?
can anyone answer my question about the money order thing?