I have a very old defaulted student loan that is being paid via an attachment to my tax returns annually. I just received a letter that I may be forced to sell my house to fully pay this loan off. What can I do to protect my house? I have the sense that my loan was purchased by someone and the amount never seems to go down buy actually increases every year.
If they are intercepting your tax refunds then these are probably old federal student loans. Why don’t you just get on an income based repayment plan to avoid tax intercepts and further action? See this article for details.
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