coolcreditchick Posted February 10, 2005 Report Share Posted February 10, 2005 Hi all- My DH has DEFAULTED SL's from way back in 98 and he has finally realized that we have no chance of getting a house if they stay as they are. He is ready to call and see if he can rehab them but now I am freaked that they will go after him gangbusters. They haven't been able to pin him down for the last 5 yrs and when we call them I am scared they will start the collection process harrasment. Also, will this not open the door for garnishment and such? Is there a way to avoid them getting ugly or is this our only option. Thanks Link to comment Share on other sites More sharing options...
divemedic Posted February 12, 2005 Report Share Posted February 12, 2005 They can't garnish unless they have a judgement. Do they have one? Link to comment Share on other sites More sharing options...
coolcreditchick Posted February 12, 2005 Author Report Share Posted February 12, 2005 My DH does not have a judgement against him but we are scared by calling the CA it will make them try harder to pursue him. Link to comment Share on other sites More sharing options...
LynnInMN Posted February 12, 2005 Report Share Posted February 12, 2005 Student loan do not require a judgement to garnished. They are authorized under congress to do Administrative Wage Garnishments. You can avoid it by entering into voluntary repayment. How much do you owe?? You can either rehab or consolidate. Link to comment Share on other sites More sharing options...
coolcreditchick Posted February 12, 2005 Author Report Share Posted February 12, 2005 To be honest with you, I have no idea what he owes. I think he took out close to 20K but it could be anything now with all the fees. It just seems a hopeless amt to take care of. Link to comment Share on other sites More sharing options...
LynnInMN Posted February 13, 2005 Report Share Posted February 13, 2005 To be honest with you, I have no idea what he owes. I think he took out close to 20K but it could be anything now with all the fees. It just seems a hopeless amt to take care of.He is probably around $30k, if not more with accruing interest and penalties. Have they taken your tax returns at all??? Link to comment Share on other sites More sharing options...
DBMCC Posted February 21, 2005 Report Share Posted February 21, 2005 Try the William D. Ford Direct Loan program. I was able to get them to buy my loans after garnishment had begun.....www.dl.ed.gov Link to comment Share on other sites More sharing options...
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