DEFAULT ON STUDENT LOANS BRINGS PAINFUL CONSEQUENCES: WAGE AND TAX GARNISHMENTS

Borrowers who took out student loans to finance their education often find themselves in a pickle once they’ve graduated. They are stuck with the daunting task of finding a job in an extremely competitive market where nearly half of all job seekers possess an associate degree or higher. On top of the tough competition to find gainful employment, borrowers are also juggling the stress of managing their student loan debt. On traditional repayment plans, monthly student loan payments may be more expensive than the average mortgage on an American home! Student Loan Law Group helps borrowers lower their monthly payments to a manageable amount in relation to each individual borrower’s income and household size.

In the event that these borrowers are unable to find gainful employment right away, they may be unable to meet the high demands from collection agencies and loan servicers without help from Student Loan Law Group. If a borrower misses five (5) payments or more, his or her account may be considered in default. Defaulting on student loans means the borrower’s account is at least two hundred and seventy (270) days overdue. Student Loan Law Group realizes that such default can bring harsh consequences upon unsuspecting borrowers.

Many borrowers are not aware that the government can garnish wages and withhold tax returns in order to pay off federal student loan debt. Student Loan Law Group is equipped with competent attorneys who can strategically prevent administrative wage garnishment or tax garnishment. If borrowers receive notice that their student loans are in default or notice that their defaulted loans are subject to wage garnishment, they are urged to contact Student Loan Law Group immediately to obtain legal counsel.

Student Loan Law Group’s attorneys can also intervene if a tax garnishment is proposed or has already occurred. Borrowers who have had their tax returns withheld by the government in order to satisfy student loans in default should contact Student Loan Law Group to determine a plan to cure their default. Attorneys with Student Loan Law Group can negotiate rehabilitative repayment plans and settlement of debts to cure defaults. Student Loan Law Group may even be able to retrieve a withheld tax return that has been wrongfully withheld from a borrower’s spouse. Borrowers can rely on Student Loan Law Group to provide quality legal representation and to zealously protect borrowers’ rights.

###