If it’s been a while since you’ve paid your student loan debt, you may be at risk for losing out on your hard-earned money. Garnishment is the legal deduction of your salary or bank account to satisfy an owed debt. If you have defaulted on your student loan, it’s only a matter of time.
Wage garnishment negatively impacts your income and your job. The loan holder can tell your employer to withhold a portion of your pay to collect your debt – all without having to go to court. Even if you don’t make enough money to be garnished, the Department of Justice can sue you.
Garnishment doesn’t only affect your bank account, but can result in piling fees or a withheld tax refund. While a collection agency or the government can take your money, there are rules.
Our Student Loan Advisors know the ins and outs of those guidelines and will:
Owing student loans isn’t the end of the world, but it can feel like it with no plan to move forward on your payments. We can help. Student Loan Solver works with your unique circumstances to find a better way for you to move forward with your life.