I just found out that the irs is going to take my taxes to repay a student loan, is there anyway i can still go to the student loan office to make arrangements to pay and get my refund, or is it too late?
2007-03-29 16:07:52 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
It is probably already too late this year. Even if you contacted the lender today, it would still take at least a few weeks for them to clear your loan. Besides, if they are at the point of taking your tax refund, you are pretty seriously past due, and they are not likely to believe that you will pay the loan on time and in full now. Please don't take my last statement as a judgment of you, it's not personal.
2007-03-29 16:17:40 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
It probably went thru deferment and another company "bought" the debt. Contact where your loan originated from to find out. I was in deferment twice and was able to pay it off just fine. If you are young and do not have a family to support you should be sticking all your refund toward it anyway because the interest on those loans are really high and keep rising. What you could do also if you can not pay the whole amount ask what the interest rate is and just pay that so it does not keep rising. My lawyer told me if I just sent them just $5 that they would not have a legal issue w/ me cause @ least I would be paying something. Good luck, Lisa
2007-03-29 16:16:33 · answer #2 · answered by LUCY 4 · 0⤊ 0⤋
I feel so so so bad for you. This very thing happened to me and my husband this year. His student loans came and took our 6,163 dollar tax refund. Every cent...and we still had to pay Jackson Hewitt for filing our taxes. To answer your question, no. When they put a tax-lean on you, they have a guarantee that they are going to get their money, and that your not going to back out of the payments when you get your refund. They think that they need money more than you...so they just take it. I'm really sorry that this is happening to you. The tax-lean will be there until the student loan is paid off or until you die. Sorry...I know that you probably had so many things to pay off and buy with your refund (like we did....my husband had been fired from his job in Nov and had a really hard time finding something. we ended up having to move closer to my family and the only thing that we were looking forward to was our refund so that we could get back on our feet and pay off all of our bills and buy our 2 baby boys some nice clothes.......but thanks to the Department Of Education, we ALMOST had to file for bankruptcy)
Good Luck and I'm so very sorry.
2007-03-29 16:22:11 · answer #3 · answered by Mandy 2 · 0⤊ 0⤋
1) Most likely you can make arrangements to pay off your student loans.
2) You may not be able to get your refund back. If they are garnishing your tax refunds, it is because you allowed your loan to default. They most likely either sold the debt to someone else, or filed an injunction against your taxes through the Department of Education. They are not going to re-call either courses of action because it is a guarantee that they will get their money. However, you can call them to ask them if they are willing to do so.
Check the below site to get your filing expenses paid for!
2007-03-29 17:18:55 · answer #4 · answered by Raymond Y 1 · 0⤊ 1⤋
It's most likely too late for this refund. If you'll still owe more, you could make payment arrangements and maybe avoid having your refund taken NEXT year.
2007-03-30 03:50:46 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
nope
2007-04-02 14:42:58 · answer #6 · answered by Mike Jones 1 · 0⤊ 0⤋