Jagtruck72 Posted November 8, 2007 Report Share Posted November 8, 2007 Good Afternoon, I have loans w/ the dept of Ed. They are scheduled to be removed from my EX report 2/08. They've been calling my employer to verify employment, to probably enter a judgement to garnish wages. Should I make pmt arrangements or leave it alone until it comes off on it's own? Link to comment Share on other sites More sharing options...
Hellard Posted November 8, 2007 Report Share Posted November 8, 2007 if you make payments arrangements it will start your SOL all over. Are these student loans from the government? Link to comment Share on other sites More sharing options...
Jagtruck72 Posted November 9, 2007 Author Report Share Posted November 9, 2007 Yep. They're held by the Dept of Education. That's bad news huh? Link to comment Share on other sites More sharing options...
LynnInMN Posted November 9, 2007 Report Share Posted November 9, 2007 It will not start the reporting SOL all over again. Normal credit reporting rules do not apply to student loans. However there is SOL on collecting student loans.If they are verfiying your employment, they are getting ready to start a garnishment. No judgement is required as admin wage garnishment is authorized by congress. The will send you a notice and if you fail to respond, they simply send a garnishment notice to your employer to deduct 15% of your net pay. Link to comment Share on other sites More sharing options...
Hellard Posted November 11, 2007 Report Share Posted November 11, 2007 yeah lynn bet me to my own question/answer....part of my job at a bank was garnishments/levys--BOY did I get some nice phone calls...NOT!!!I felt sorry for the people but couldnt do i thing about it....i would try my darnest to settle the matter before a garnishment starts.. Link to comment Share on other sites More sharing options...
bankybruce Posted November 12, 2007 Report Share Posted November 12, 2007 Plus if you ever want to get a student loan again, you will have fix it then. Link to comment Share on other sites More sharing options...
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