I have been in default for years and have wage garnishments on my paycheck.
Will these stop if I call the collecting angencies and setup a payment plan or start a rehabilitation program?
QUOTE(hkbushido @ Mar 24 2006, 04:14 PM) 
I have been in default for years and have wage garnishments on my paycheck.
Will these stop if I call the collecting angencies and setup a payment plan or start a rehabilitation program?
Will these stop if I call the collecting angencies and setup a payment plan or start a rehabilitation program?
Garnishment will stop once you finish rehab. They will still be garnishing your check on top of your rehab payments. Once rehab is comlete the loan is considered to be satisfacotory. The Gaurantee CA will remove all negative marks on your credit report.
Options #2 is to consolidate all your loans. Once your consolidation company dispurses the funds to the CA Granishment stops immediately. But if you do it this way...any negative marks will remain on your CR. Depends on your goals will ultimately lead you to what you need to do...option #1 REHAB or option #2 CONSOLIDATION.
QUOTE(hkbushido @ Mar 24 2006, 04:14 PM)
I have been in default for years and have wage garnishments on my paycheck.
Will these stop if I call the collecting angencies and setup a payment plan or start a rehabilitation program?
Will these stop if I call the collecting angencies and setup a payment plan or start a rehabilitation program?
Unfortuanately not. You can still do the rehab program however your qualfiying payment will have to be over and above the garnishment.
darn it.
So if I"m being garnished $200.00 a month, I have to pay an additional $200+ (more then garnishment) on top of that? that would be over $400.00 a month which turns out to be like 40% of my wages.
Isn't there some Fair Act that protects me from paying all that money? this is just ridicioulous if it's the case.
Lastly, what if I find a new job. How long before they track me down and garnish my new paycheck?
So if I"m being garnished $200.00 a month, I have to pay an additional $200+ (more then garnishment) on top of that? that would be over $400.00 a month which turns out to be like 40% of my wages.
Isn't there some Fair Act that protects me from paying all that money? this is just ridicioulous if it's the case.
Lastly, what if I find a new job. How long before they track me down and garnish my new paycheck?
QUOTE(hkbushido @ Mar 24 2006, 09:09 PM)
darn it.
So if I"m being garnished $200.00 a month, I have to pay an additional $200+ (more then garnishment) on top of that? that would be over $400.00 a month which turns out to be like 40% of my wages.
Isn't there some Fair Act that protects me from paying all that money? this is just ridicioulous if it's the case.
Lastly, what if I find a new job. How long before they track me down and garnish my new paycheck?
So if I"m being garnished $200.00 a month, I have to pay an additional $200+ (more then garnishment) on top of that? that would be over $400.00 a month which turns out to be like 40% of my wages.
Isn't there some Fair Act that protects me from paying all that money? this is just ridicioulous if it's the case.
Lastly, what if I find a new job. How long before they track me down and garnish my new paycheck?
How much do you still owe? Rehab payments are based on your balance.
Student loans have links to the IRS. It wont take long to find you.
After checking the NSLDS website I have $23K in loans and interest. However this amount does not include any collections fees that might have been added.
I did see one Federal Perkins loan in the amount of $4500 that has no outstanding interest and it says it has no servicer, lender or guaranty agency. as an fyi this loan was from a private school. So what is up this loan? do I still owe it to someone? if so who and how can I find out. by the way this is part of the 23K I mentioned above.
They are garnishing 15% of my net income and the deductions vary anywhere from $70.00 to $90.00 depending on how many hours I work for the pay period. So if I go through rehab how much do you guess they would want me to pay?
thanks for the help and your time, I'm already encouraging my younger friends and teaching them about school loans and being responsible.
I did see one Federal Perkins loan in the amount of $4500 that has no outstanding interest and it says it has no servicer, lender or guaranty agency. as an fyi this loan was from a private school. So what is up this loan? do I still owe it to someone? if so who and how can I find out. by the way this is part of the 23K I mentioned above.
They are garnishing 15% of my net income and the deductions vary anywhere from $70.00 to $90.00 depending on how many hours I work for the pay period. So if I go through rehab how much do you guess they would want me to pay?
thanks for the help and your time, I'm already encouraging my younger friends and teaching them about school loans and being responsible.
QUOTE(hkbushido @ Mar 24 2006, 11:08 PM)
After checking the NSLDS website I have $23K in loans and interest. However this amount does not include any collections fees that might have been added.
I did see one Federal Perkins loan in the amount of $4500 that has no outstanding interest and it says it has no servicer, lender or guaranty agency. as an fyi this loan was from a private school. So what is up this loan? do I still owe it to someone? if so who and how can I find out. by the way this is part of the 23K I mentioned above.
Perkins loans are thru the school, so the school is still probably handling this. And yes
you still owe it. This also means that your transcripts from that school are frozen.
They are garnishing 15% of my net income and the deductions vary anywhere from $70.00 to $90.00 depending on how many hours I work for the pay period. So if I go through rehab how much do you guess they would want me to pay?
You would need to talk to the CA who is handling your garnishment to find out what your standard payment would be. Without knowing your balance it is hard to say.
thanks for the help and your time, I'm already encouraging my younger friends and teaching them about school loans and being responsible.
I did see one Federal Perkins loan in the amount of $4500 that has no outstanding interest and it says it has no servicer, lender or guaranty agency. as an fyi this loan was from a private school. So what is up this loan? do I still owe it to someone? if so who and how can I find out. by the way this is part of the 23K I mentioned above.
Perkins loans are thru the school, so the school is still probably handling this. And yes
you still owe it. This also means that your transcripts from that school are frozen.
They are garnishing 15% of my net income and the deductions vary anywhere from $70.00 to $90.00 depending on how many hours I work for the pay period. So if I go through rehab how much do you guess they would want me to pay?
You would need to talk to the CA who is handling your garnishment to find out what your standard payment would be. Without knowing your balance it is hard to say.
thanks for the help and your time, I'm already encouraging my younger friends and teaching them about school loans and being responsible.
I had a similiar problem eight years ago. I consolidated with William D Ford and after approval, the garnishment stopped after informing the payroll department. I believe that consolidating will be a better option for you.
LynnInMN......I know you said they can track me down pretty quickly.
But if I do move from one state to another state, don't they have to get a new garnishment for the new state? and send me the paper work etc...?
I remember someone said once there is a judgement against me they would't have to do a new one everytime I change my job, but hence the different state question.
But if I do move from one state to another state, don't they have to get a new garnishment for the new state? and send me the paper work etc...?
I remember someone said once there is a judgement against me they would't have to do a new one everytime I change my job, but hence the different state question.
QUOTE(hkbushido @ Jun 11 2006, 11:07 PM)
LynnInMN......I know you said they can track me down pretty quickly.
But if I do move from one state to another state, don't they have to get a new garnishment for the new state? and send me the paper work etc...?
I remember someone said once there is a judgement against me they would't have to do a new one everytime I change my job, but hence the different state question.
But if I do move from one state to another state, don't they have to get a new garnishment for the new state? and send me the paper work etc...?
I remember someone said once there is a judgement against me they would't have to do a new one everytime I change my job, but hence the different state question.
Student loan garnishments are federal...no paperwork involved. If you leave a job for another they can pick right up where they stopped at...without any 30 day notice.
The DOE can track you down by payroll taxes, both state and federal. It doesnt take long. Sometimes less than a month. It all depends on timing.
And there is NO way WHATSOEVER to stop them other then finishing my rehab or straight out paying off the loan, either by myself or consolidation etc...
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment"
ever heard anything like this?
by the way thanks for your help and time, i see you put a lot of effort around here.
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment"
ever heard anything like this? by the way thanks for your help and time, i see you put a lot of effort around here.
QUOTE(hkbushido @ Jun 12 2006, 05:17 PM)
And there is NO way WHATSOEVER to stop them other then finishing my rehab or straight out paying off the loan, either by myself or consolidation etc...
You could consolidate and then the garnishment would end.
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment" ever heard anything like this?
I doesnt work that way. You are being garnished for non payment. Provisions are set down in the HEA to allow you to rehab if you make the payments over and above the garnishment.
by the way thanks for your help and time, i see you put a lot of effort around here.
You could consolidate and then the garnishment would end.
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment"
ever heard anything like this? I doesnt work that way. You are being garnished for non payment. Provisions are set down in the HEA to allow you to rehab if you make the payments over and above the garnishment.
by the way thanks for your help and time, i see you put a lot of effort around here.
QUOTE(hkbushido @ Jun 12 2006, 05:17 PM)
And there is NO way WHATSOEVER to stop them other then finishing my rehab or straight out paying off the loan, either by myself or consolidation etc...
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment" ever heard anything like this?
by the way thanks for your help and time, i see you put a lot of effort around here.
I mean, can't I call anyone and say " hey look here....I've made good faith payments so please stop the garnishment"
ever heard anything like this? by the way thanks for your help and time, i see you put a lot of effort around here.
Call and ask? No. But I was able to successfully stop my garnishment based on financial information I provided. You can find my story by searching the SL forum for my name. It will be in the first few posts I made.
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