NC garnishment law for credit cards and sallie mae private

Student loans work on federal laws which trump state laws in this case.

Hi there, I had a student loan of about $50K, that with interest and such has grown to $120K in 3 years (fair? no, but that's another story). Long story short, Sallie Mae charged off my private loans last year. I sent them a letter twice requesting validation, they send me back unsigned notes. There is no record of me agreeing to the terms and conditions of the loan. I got a call today from GC Services, a collection agency; trying to collect on the loan. She threatened garnishment; can they do this?

You bet

Perhaps you'd be interested in some sort of debt consolidation service? It's almost criminal to give people the shaft like that, but once you're in a situation like that, there's only so much you can do... =(

Try <a>debt consolidation</a>

Best of luck!

Student loans cannot be included in any type of debt consolidation services or debt management plans.

I was told that if they cannot validate with a record of agreement of terms and conditions with your signature then Sallie Mae and any companies they charge off the private loans to cannot collect and they have to leave you alone.

My uncle co-signed for a private student loan for me. I graduated a year ago. I've only been able to make a couple of payment due to the fact that I only work two days a week. My uncle just received notification that the account has now be referred to a collection agencie. And they will now start either garnishing his checks or taking his taxes. He is unemployed we tryed explaining this to them they could care less. My uncle also tryed explaining to them that he never received this information before. Why are we just receiving a phone call? My question is if I only work two day out of the week and bring $ 120.00 and my uncle is completly unemployed can they still take his money? I would rather for them to take my little money then for them to touch his. He was trying to help, I dont want this to happen to him and his family. They are going through enough already. Please let me know what can be done to stop this.

sw

My uncle co-signed for a private student loan for me. I graduated a year ago. I've only been able to make a couple of payment due to the fact that I only work two days a week. My uncle just received notification that the account has now be referred to a collection agencie. And they will now start either garnishing his checks or taking his taxes. He is unemployed we tryed explaining this to them they could care less. My uncle also tryed explaining to them that he never received this information before. Why are we just receiving a phone call? My question is if I only work two day out of the week and bring $ 120.00 and my uncle is completly unemployed can they still take his money? I would rather for them to take my little money then for them to touch his. He was trying to help, I dont want this to happen to him and his family. They are going through enough already. Please let me know what can be done to stop this.

sw

My uncle co-signed for a private student loan for me. I graduated a year ago. I've only been able to make a couple of payment due to the fact that I only work two days a week. My uncle just received notification that the account has now be referred to a collection agencie. And they will now start either garnishing his checks or taking his taxes. He is unemployed we tryed explaining this to them they could care less. My uncle also tryed explaining to them that he never received this information before. Why are we just receiving a phone call? My question is if I only work two day out of the week and bring $ 120.00 and my uncle is completly unemployed can they still take his money? I would rather for them to take my little money then for them to touch his. He was trying to help, I dont want this to happen to him and his family. They are going through enough already. Please let me know what can be done to stop this.

sw

from new york

Your uncle as the co-borrower signed a prom note which outlined the terms and conditions of the loan. As with any private loan, once you default, they will send you to a CA. If not paid, it will be sent to an attorney and then you will both be sued. Since this is not a federal loan,they cannot touch taxes. Once a judgement is rendered however,they can garnish wages and seize bank accounts.

As this is referred as a private loan and most of the student's loans interest rates are reasonable,you need to find out some other resources to pay for the debt.It is true that you have lower waging hours but surely you could find some of the other assignments over a week.Are you still a student?

I hope someone out there knows what to do. I'm a graduate in NC this May but I'm in repayment on all my loans because I only need 3 hours dropping me below part time status. I'm desparetly looking for private loan consilidation companies to buy up all my loans. So who and where do I find these companies?

Try the ones at the bottom of the list. Last time I checked the first two were dead.

http://www.finaid.org/loans/privateconsolidation.phtml

i had a collector that buys old loans call me about a loan i had in 1996.forom nations credit . they said they had a judjment against me and was going to garnish my bank. can they do that?

Is this a student loan? Wondering why you would hijack this thread.....

I live in North Carolina and have $105,000.00 in private student loan debt that is broken up into 4 individual loans through American Education Services(AES).
I am in default and have exhausted ALL options as far as repayment plans, forbearance, deferment etc. I have been turned down for consolidation with every lender I have approached.
My question is how much of my wages are the loans going to be able to garnish and how long will they be able to garnish them?
Please help I just don't know what other options I have I just can't come close to they payments that they're asking for!