If you default on a student loan, could they garnish part of your SSI disability payments?

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If you default on a student loan, could they garnish part of your SSI disability payments?

These days a bankruptcy will not cover student loans and I'm wondering how aggressive they can get in garnishing all of my future wages or SSI payments until the loans are paid off.

2007-01-26 14:39:23 · 2 answers · asked by osunumberonefan 5 in Business & Finance ➔ Personal Finance

2 answers

Yes, they can garnish any income you have coming into the house (up to, but not exceeding 25%).

2007-01-26 14:47:43 · answer #1 · answered by Mariposa 7 · 1⤊ 0⤋

they will turn the loan to a collection agency, and they have the right to get money from you anyway they can. My advise to you, is to pay what you can. If you can not make the min. payment, re-finace the loan to a lower rate.

2007-01-27 03:23:25 · answer #2 · answered by fleshy queen 3 · 0⤊ 0⤋