The difficult job market provides a great time to consider furthering your education, yet also a terrible time to experience wage garnishment due to delinquent student loan payments.
If federal loans helped you reach your college education goals, the U.S. Department of Education has every right to expect you will meet your agreement to pay off your loan. While it may feel like a financial burden to repay your student loan, missing an extended period of loan payments will only increase your economic hardships.
By becoming delinquent on your federal loan payments, the government has the right to require your employer to send a portion of your salary as compensation. They could also take you to court or apply your federal tax refund toward the loan payments you owe.
While these tactics may seem harsh, imagine how you would feel if your employer neglected to pay you for the work you performed. Your hard work deserves compensation, and the government’s loan deserves repayment as well.
As a borrower, do you know your rights? What amount of advance notice should you receive before wage garnishment begins? What are your opportunities to object in a court hearing? How can you provide proof of a financial hardship which should prevent the wage garnishment?
An attorney familiar with both state and federal garnishment regulations can advise you in your options and help you renegotiate student loan payments that are advantageous to both parties. Garnishment is the last option that both you and the government want to take.
When you need objective counsel regarding repayment of your student loans, turn to an attorney who is educated in both state and federal wage regulations.