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Student Loan wage garnishment

Date: Wed, 08/20/2008 - 13:47

Submitted by anonymous
on Wed, 08/20/2008 - 13:47

Posts: 202330 Credits: [Donate]

Total Replies: 5

Student Loan wage garnishment


I Have had my wages garnished for approx. 6 years and paid out $25,000 so far on an original principal of approx. 14K. Needless to say my credit and credit score has been dead for the past 10 years over this. I have recently come to check my credit score and incredibly it has gone up to "excellent" and i just cant get my head around it. I did use the rehabilitation option with the collections company of $100 voluntary payment. But it turns out they recieved two payments in one month where one should have been applied to the next month, so they claimed it did not count towards the 12 CONSECUTIVE payments...so all of the 10 payments i had made were for nothing. The only option now being to begin ANOTHER 12 month rehabilitation at a higher rate of $205 a month x12 mos. Even so...how has my credit score gone so high? I did notice that my student loans did not appear as reported anymore on any of the three credit bureaus...and that worries me. IF ANYONE HAS AN INSIGHT AS TO WHAT IM GOING THROUGH PLEASE HELP! I have had enough and have been living out of a suitcase for the past 10 years because of this problem..thanks and goodluck to all of you!
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Unless this is a Perkins loan, it only takes 9 months of payments to rehab. The CA could have manually adjusted the only early payment.....we used to do it all the time.

On the jacking your payment up....how much do you owe?? There would be no reason to jack up your payment.....technicially a standard payment is only 1% of your balance. And you are entitled by law to reasonable and affordable payments.

Sounds like your tradeline was more than 7 years old....it naturally aged off.....


lrhall41

Submitted by SOAPLADY on Wed, 08/20/2008 - 13:57

( Posts: 17315 | Credits: )


If I am being garnished from my income taxes and payroll do you think i will be able to attend in the fall? I think i only have like $3,500 left to pay on the defaulted loans.


lrhall41

Submitted by anonymous on Wed, 05/06/2009 - 10:52

( Posts: 202330 | Credits: )