My wife was married to her ex at the age of 20. It only lasted a year, but during that year she cosigned the joker’s student loans. They are fed loans.
My wife is now 43 and with in the last six months they started drafting her paychecks. At first it was a huge amount, to the tune of $300 a pay period! She was able to get them to come down to now $60 a pay period.
Her mother called the student loan guy, the one who makes the descisions on what amount they will settle for. He was rude and dismissive when she offered the original amount of around $5,000. Stated he would only take the full amount of now $13,000. The guy said they spent $5,000 just to try to locate my wife!
That can’t be true considering she has actually PAID on the loan before just to avoid them drafting her check. She has made phone contact with them in the past as well, giving them her addresses as she moved some in the 20 plus years since the signing took place.
The ex however, is living IN THE SAME HOUSE, that is in his dead mother’s name (I checked that info) and I believe is working full-time under the table for someone. What can be done here? It does not sound like they want to work with her, and he is living off the grid in essence with no repercussions for his deadbeat ways.
I have a 4 year old son who is battling leukemia (he is doing well) and we just cant afford to pay for another guy’s loans!! What steps do I need to take to get this off of my family?
Will it do me any good to find out where the guy is working and report it to the fed loan folks?
My feeling is that since they have someone who they are getting money from already, they wont care, or follow up on my “detective” work. I feel like im being bamboozled from “the man” and “the bad guy” at the sametime! I would be greatful for any advise as how to handle this.
The bad news is when she cosigned she agreed to be entirely liable for the debt if the other party did not pay.
Since she is getting her pay garnished this old debt has move along into an administrative wage garnishment.
I feel like you need to start back at square one here and move forward to gather some data. For example, do we even know if she actually did cosign the loan so long ago? Before we assume, let’s check. She can use the National Student Loan Data System to try to verify the loan and her obligation.
It is quite possible the original loan balance has grown so high over the years. Between building interest, fees and collection charges it is not unreasonable to see the balance climb. But, it would be helpful to get an itemization of the balance to verify it.
Since this is a Federal student loan you should also call the Department of Education directly for more information. You can call 1-800-621-3115 for questions regarding your defaulted student loan account You may also reach them by e-mail at firstname.lastname@example.org.
And then, after all of that, if you feel you are not being treated fairly over this matter you should contact the Federal Student Aid Ombudsman program.
Please post your responses and follow-up messages to me on this in the comments section below.