My husband and I moved 3 yrs ago and had trouble with bills and stuff being forwarded. We just found out about a Student Loan that we "forgot" about and were told that to avoid having wages garnished we had to pay $3000 by Februrary 1 or we lose everything in my husbands paycheck. Now, I am not currently working (another story for another time)...anyone have any advice for getting them to leave us alone or at least lower the payment?
2006-12-12 13:03:46 · 1 answers · asked by Mommy to One 2 in Education & Reference ➔ Financial Aid
First of all, you will not lose everything from his paycheck. I believe the Federal Law limits garnishments to 25% of the usual pay. So, if you made $1000 per paycheck, the most they could take from that paycheck is $250.
As far as getting them to leave you alone, good luck. I would contact them and let them know that you misplaced the previous bills, and would like to work out a plan to get back on track. If you had made payments on time before, this should work no problem. If they do not cooperate with you, try to find another lender who will give you a loan to cover that one...work with people who will work with you.
2006-12-12 15:33:47 · answer #1 · answered by Brandon W 5 · 1⤊ 0⤋