Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

The CafeMom Newcomers Club The CafeMom Newcomers Club

? ABOUT WAGE GARNISHMENT WITH STUDENT LOANS

Posted by on Feb. 14, 2013 at 11:28 AM
  • 9 Replies

Hi ...Before we start off I know I should have paid them but with layoffs, kids, and the basics the past few years it has not been possible.  So I had a compay call that they were going to start wage garnishment.  I made a deal with the that with my income tax return I would pay my interest off of $745.00 then I would make monthly payments of $240.00 which is cheaper than the $360.00 the garnishment would be because I think they can take 15% of your income.

Well the day before I am about to make this payment this other company calls which I thought was the same company.  The lady informs me that with federal loans they divide them into different companies and I could have a payment option with one but then the other will still garnish. 

But they can not garnish more than the 15% in total from both companies.  Well I cant afford to pay the 745 , then the 240 a month, plus have them garnish 360 a month from the other company.  My family wont eat.  I asked her if there was a way to put them all together and she said no.


Has anyone delt with this?  Is there a way to put them all together ?

Before anyone bashes...yes...i should have been paying.....i have tried...but until it got to this point they would not take monthly payments but only a bulk payment of a couple grande when they would call.  i cant afford that.  We are just over the mark of qualifing for assistance so we live pay check to paycheck.  If I could have paid it...I would. 

by on Feb. 14, 2013 at 11:28 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-9):
needadvice1983
by Bronze Member on Feb. 14, 2013 at 11:37 AM

Could you possibly forebare them?  Or maybe see about consolidating them both into one so you can make one payment? Not sure what your options are. I would call the place you have a payment plan set up with back and tell them what the second place said. See if there are any plans where you could consolidate the two loans. Good luck. Student loans suck.

christina0607
by on Feb. 14, 2013 at 11:38 AM

Have you tried speaking to a bankruptcy lawyer? It's hard to claim student loans, but if you can show undue hardship then you can. It does happen. 

I'm not sure if you can since you make over the amount to get any kind of assistance. I think a court could argeu if you cut back then you could pay your bills.

But...if you at least tried to file they could not come after you for the money until after you've gone to bankruptcy court...which would buy you sometime. you'll just need to pay for the bankruptcy. 

notjstasocermom
by Samantha on Feb. 14, 2013 at 11:38 AM

not sure.

mamabear0791
by on Feb. 14, 2013 at 11:39 AM

There is a way to put them together. Try googling Direct Loans. I just went through the same thing with my school loans. I ended up deferring them instead of consolidating them. Keep your paperwork, and mark which loan is which until they are consolidated. good luck!

Paperfishies
by on Feb. 14, 2013 at 11:39 AM

They tell you they can't take monthly payments to scare you and bully you into paying more, in hopes that they can garnish you in the future for no payment.

No matter what, ALWAYS send payments, even if you can only do $20 a month, send a check for $20...Keep track of it clearing your bank, showing you were making payments.

As long as you were paying something, anything, the chances of them garnishing you would have been low.

From what I understand, once a judge OKs a garnishment, there isn't much you can do.  Recently one of my employees was being hounded by a collection agency, they told me I had to garnish his paycheck...I told them to fuck off, I'm not an accountant and without a court order I won't be doing shit.  A month later I got a letter in the mail from the courts stating I HAD to garnish his wages and there was nothing anyone could do about it.

My advice would be for you to get a 2nd job and pay the loan off as quickly as you can.

Paperfishies
by on Feb. 14, 2013 at 11:48 AM

Also, be totally prepared for them to take your tax returns.  My mom had tons of student loans...3 years in a row they took her entire tax returns without even notifying her.

Matriarch87
by on Feb. 14, 2013 at 11:50 AM

You need to talk to your bank loan officer.  When it gets to that point you need professional advice.  She would look out for your best interest.  Its possible she would consolidate that loan for you and you could just pay the bank.  

silverdawn99
by Jamie on Feb. 14, 2013 at 11:52 AM
If they are thru the government they will take most of your refund
Posted on the NEW CafeMom Mobile
FooLynRoo
by on Feb. 14, 2013 at 12:12 PM
can u get a personal loan or second mortgage pay them off and have one loan payment?
Posted on the NEW CafeMom Mobile
Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN