If you don't pay off your student how long does it take before they garnish your wages?

Answer 1

There is no set amount of time. They can do it right after you default on your loans or they can do it several years latter. It all depends on how quick they want there money. Best bet for you is to put them into deferment. This will buy you some time to get a good job and be able to pay them off.

Answer 2

You didn't say whether your loans are current (but you are struggling), or have just been declared in default by the lender, or whether they are really old student loans that you have basically forgotton about.

First, if your loans were jus declared "in default"--GET ON THE PHONE AND START CALLING THEM UP, THEY WILL REVERSE THE DEFAULT!!! They will take the loans ut of default if it is within 30 days or if you beg and plead and stay on the line until they agree. THIS IS EXTREMELY IMPORTANT: ONce they declare a default, they can add on all kinds of collection costs beginning with an IMMEDIATE 43% OF THE LOAN BALANCE--even if it doesn't cost them anywhere near that much!

Second, if your loans have been in default for a while and the government is just now catching up to you and sending you a WAGE GARNISHMENT NOTICE--REQUEST THE HEARING!!!! This will slow them down. Since most people who are in default will never be able to pay their loans back as long as they live, it is important to keep as much money from the government as you can, that means delaying the start of the garnishment.

ALSO if you were fired or lost your OLD job through no fault of your own, and you have been at your NEW job for less than ONE YEAR, you can ask for a delay until you have been on the job a year.

So when you get the notice, respond!!!!

The government is required under the law to let you out of the wage garnishment--EVEN ONCE IT STARTS--and set up a payment plan, but they will refuse. They break the law all the time and get away with it, because the victims are por people who can't pay their student loans.

So it is important to stop it before it starts.

Otherwise, the only thing you can do is quit your job and get another one, and then when the notice comes, stop it before it starts.

Answer 3

It takes 12 months non payment to enter default status and a lot more can happen then getting wages garnished. They can take your tax returns, you will not be eligible for any more financial aid (grants or loans) you have a major ding on your credit report, you won't be elgible for government jobs, you might not be able to take out professional licenses, and 25% of the balace will be tacked onto your debt. If you can not pay your student loans contact your lender they can help you lower your payments or even allow you to stop making payments for a period without penalty.

Answer 4

Typically within 12 months. But why do that put them in deferrment. Get a good paying job and pay them. If not they can and will end up haunting you. They can take your tax refunds etc.

Answer 5

Why ruin your credit by being a deadbeat, offer to pay what you can, and set up a repayment schedule with your creditors,