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Is the Department of the Treasury Publication 4681 Offer a Scam?

Written by Steve Rhode


Dear Steve,

I currently own a LOT of student loan debt. I believe I am defaulted on 1 or 2 loans, I have previously had Wage garnishment for federal loans, and I pay $1,000 + in private loans every month.

Is there anyway to reduce this debt? I received that “scam” letter in the mail – around the Department of Treasury in pursuant to Department of the Treasury Publication 4681. Obviously after reading your articles I am clear this is a scam. But is there relief for me out there? Is there a Student Loan forgiveness program from Obama? Any support or knowledge is helpful.



Dear Jessica,

On the federal loan front there is no reason to ever let your loans get to a wage garnishment. It just increases your balance owed. There are options for dealing with the federal loans. See The Ultimate Guide to Dealing With Student Loans You Can’t Afford.

When it comes to private student loans, there are some options but it is a much tougher loan to deal with. Private student loans are among the worst kind of debt you can owe. They are not required to offer you any affordable repayment option.

If you want to see some of the less glamorous private student loan options, read this.

I’m glad you found my past articles on the Department of the Treasury Publication 4681 offers.

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About the author

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.

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