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I was supposed to repay a student loan starting in March of last year and am $600 behind will this affect my tax return

My guess is when I get the taxes done it will be flagged and it will say I owe $600 and it will then be taken out of the taxes

 
Anonymous

Asked by Anonymous at 10:04 AM on Jan. 24, 2011 in Money & Work

This question is closed.
Answers (5)
  • I agree with the previous posters. You should be fine this year. the IRS will send you a paper letting you know if someone is garnishing your tax refund. But do keep in contact with the student loan holders and try to stay on their good side.
    Erica_Smerica

    Answer by Erica_Smerica at 3:12 PM on Jan. 25, 2011

  • Not sure, but can't you call and have a deferment put on your account for hardships? I would call your student loan people and see if they can't work with you. They are pretty good working with people. Good Luck!

    sheer_heart

    Answer by sheer_heart at 10:07 AM on Jan. 24, 2011

  • You may be ok this year, it depends on what kind of notifications you have received from the student loan company. It can take awhile before they resort to taking money from your taxes.
    Scuba

    Answer by Scuba at 10:06 AM on Jan. 24, 2011

  • Call them and file for forbearance or a deferral before you file your taxes. Then make a payment plan and stick to it. They will bring your account current if you file the right paper work.
    lovinangels

    Answer by lovinangels at 10:09 AM on Jan. 24, 2011

  • most of the time, as long as you have been in contact with them and are making some kinda payments they wont take your money... i had a student loan take my money and it took 3 yrs... my fault completly for not talking with them and trying to make better payment arrangements!
    sandjmom99

    Answer by sandjmom99 at 11:34 AM on Jan. 24, 2011

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