If it's been a while since you've paid your student loan debt, you may be at risk for losing out on your hard-earned money. Garnishment is when your loan servicer can legally take money from your paycheck. When you default on your student loan, it's only a matter of time.
Wage garnishment negatively impacts your income and your job. The loan holder can tell your employer to withhold a portion of your pay to collect your debt – all without having to go to court. Even if you don't make enough money to be garnished, the Department of Justice can sue you.
Garnishment doesn't only affect your bank account but can result in piling fees or a withheld tax refund. While a collection agency or the government can take your money, there are rules.
The decision to learn shouldn't come with tough decisions about money.
Owing student loans isn't the end of the world, but it can feel like it with no plan to move forward on your payments. We can help. We work with your unique circumstances to find a better way for you to move forward with your life.