Defaulted Loan Consolidation
Date: Mon, 09/20/2010 - 07:37
Defaulted Loan Consolidation
I am in default on two of my student loans. My wages are garnished for the past 6 years for one loan and 3 years for the other. I pay in excess of $800 per month via the involuntary payment plaln. I would like to take out a loan for postgraduate studies. How may I consolidate the two loans with that are currently in default status?
You can't consolidatge while being garnished. You would have t
You can't consolidatge while being garnished. You would have to rehab the loans first, which would require making payments over and above your garnishment for 9 months. Then your loans would come out of default and you would be eligible to consolidate and be eligible for financial aid.
