Subscribe to our mailing list

X

Why Can’t I Get Out of My Student Loan Wage Garnishment so I Can Consolidate?

By on December 1, 2017

Question:

Dear Steve,

Student loans, two carriers and both in garnishment taking 25% of my check is killing me, but they will not allow me to consolidate.

I read your article about student loan rehab. Mine are in garnishment, I have applied and been approved to consolidate with SOFI and one other but the two carriers will not release my loans. State they are getting their money and aren’t required to release them.

Aprille

Answer:

Dear Aprille,

These sure sound like federal student loans. I can’t imagine why they would release them since they are getting their money easily with an administrative wage garnishment. Besides, why would you want to convert these flexible federal loans with various repayment options into an inflexible private loan? You might have a sound financial reason but I’d love to hear it. Please post any response in the comments below.

You already seem to know what to do, rehab them, get them out of default, consolidate them in a new Direct Loan and elect an income driven repayment plan.

With the options of income driven repayment plans there is never a good reason to let federal student loans become delinquent. However, in the case of private student loans a strategic default can sometimes make sense.

morehelp1
Choice1 Choice2 Choice3 Big Hug!
Get Out of Debt Guy - Twitter , G+ , Facebook
If you have a credit or debt question you'd like to ask just use the online form .

READ  I Got My Wages Garnished for an SSI Overpayment. Help! - Fran

Last step, fill out the information below or call us for Priority Assistance.

What problems are you having with your report?

Your first name is required. Your first name is required to be at least 2 characters. Your first name cannot be longer than 50 characters.
Your last name is required. Your last name is required to be at least 2 characters. Your last name cannot be longer than 50 characters.
Your email is required.
Your phone is required. Your 10 digit phone number is required.
Your state is required.
Your age is required. Your age must be greater than 18. Your age must be less than 100.

By clicking on the "Contact Me" button above, you consent, acknowledge, and agree to the following: Our Terms of Use and Privacy Policy and to receive electronic communications. We take your privacy seriously. That you are providing express "written" consent for Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS - charges may apply), even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list. Consent is not required as a condition to utilize Debt.com services and you are under no obligation to purchase anything.

By clicking on the “Contact me” button above, you consent, acknowledge, and agree to the following: (1)That you are providing express “written” consent for Lexington Law Firm, Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS – charges may apply), or dialed manually, at my residential or cellular number, even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list; and (2)Lexington Law’s Privacy Policy and Terms of Use and Debt.com’s Terms of Use and Privacy Policy. Consent is not required as a condition to utilize Lexington Law or Debt.com services and you are under no obligation to purchase anything.

About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

One Comment

  1. Aprille

    December 1, 2017 at 2:19 pm

    Asked loan rehab consolidation question.

Share a Comment / Leave a Reply

%d bloggers like this: