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Can a student loan collection agency garnish funds in a bank account in the state of Tennessee?
Wiki User
∙ 14y ago
if your loans are Federally Guaranteed, then the answer is yes.
I am an expert on student loans and can help you get out of garnishment and default. Click on my user name, "Studentloaner", below to obtain my contact information. Here is some useful information about defaulted loans:
There are only 2 ways to get out of default on your Federally Guaranteed student loans.
- Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.
- The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans.
If you need additional help getting your loans out of default, click on my user name, "studentloaner", below.
Wiki User
∙ 14y ago
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Can student loans garnish unemployment checks?
I have worked in the student loan industry for 8 years and have never heard of that happening, so I would say no.
If a deferrment on a student loan has been done will IRS still garnish?
if a deferrment has been done on a student loan wll IRS still garnish refund.
Do you have to pay for a student loan that was made 35 years ago?
Yes, there is no statute of limitations on the repayment of student loans. Federal collection agencies will try to collect on the loans even into retirement. In fact, the Dept. of Ed. will garnish Social Security income for defaulted student loans.
Can a student loan garnish a jointly owned bank account in Maryland?
It's possible for a bank levy to be placed on a joint account, it really depends on how the account is set up. Whether or not it is a marital account, a joint account with survivorship rights and so forth may determine what legal action can be taken.
Can wage be garnish in MA for private student loan?
Yes, they can.
Can student loans garnish unemployment income in Nevada?
yes
Can Garnish wages student loan?
In the U.S., a garnished student loan happens when a borrower becomes Default on the outstanding loans which causes a collection company to garnish the wages of the borrower. Garnishment is when an employer deducts money from an employee's paycheck and sends it to a collection company. Garnishment of Federal Student Loans has a cap of 25%.One online company that helps default borrowers get a garnishment lifted is Default Management Services, Inc. You can Google the company for the phone #.Ask for Doug.
Can the collection agency touch your bank account if your student loan is in default?
A collection agency can only touch a bank account if you either give them permission or they have a court order. In order to get a court order they have to go through the full legal process including trial. The Student Loan on the other hand, like the IRS, does not have to go through the legal process.
What happens to a wage garnishment for a student loan if you quit your job?
The collection agency will wait until you get another job and garnish you again. As soon as the IRS knows you have a new job, so will the collection company. You can not avoid wage garnishment, but you can have the garnishment lifted. Default Management Services can help you. Google them.
Can student loan garnish your pay and your taxes at the same time?
Yes, of course.
If a student loan was obtained 15-16 years ago can they put it back on your credit report for default and can they garnish your joint bank account if no money has ever been paid?
Do you never return what you borrow?
Can your wages be garnished if you voluntarily repo your car in Texas?
YES No, wages can not be garnished in Tx except for the IRS, Student Loans, & Child Support.....They can however garnish a bank account if they get a judgment against you in court.
