My loan was for $1,800.00 they have taken over $6,000.00 and yet I still owe $1,800.00. Every year no matter what my tax return would have been that is exactly what the penalties and interest are on the loan. I can't afford a lawyer but it doesn't seem right that they are in the loan shark business.
2007-01-28 11:29:08 · 4 answers · asked by Robin N 1 in Business & Finance ➔ Taxes ➔ United States
Something doesn't sound right here. Every year there would be interest and probably penalties added on, but it's too much of a coincidence that it would just happen to exactly equal your refund amount.
Ask your student loan lender for an itemized statement to see what's going on. And at this point, maybe you can't afford NOT to talk to a lawyer. It might not cost nearly as much as you think. You can call a couple and ask how much it would cost to talk to them for maybe half an hour. Don't go to one of the major firms in your city - call a couple smaller practices, or someone local and on their own. They'll probably be a lot cheaper, and this is something any competent lawyer should be able to handle.
2007-01-29 05:02:29 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
They will continue to take your return until your debt is paid in full. Sounds to me like you need to contact a lawyer.
2007-01-28 19:48:13 · answer #2 · answered by Raine 4 · 0⤊ 0⤋
They can keep taking cash forever.
And they will unless you stop them!
2007-01-28 19:37:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
they can take your income tax until you are paid up.
2007-01-28 19:34:41 · answer #4 · answered by janelle p 2 · 0⤊ 0⤋