Too late to rehab my fed student loans w/ wage garnish?
Fri, 02/13/2009 11:30
I have 30k in defaulted federal student loans. My wages started getting garnished today and I already filed my federal and state tax returns. The state returns were direct deposited last night and my federal returns are due for deposit next Friday.
Should I worry about having my federal returns garnished? Is it too late to avoid this by rehabilitating my loan?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.