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Sub: #17
Replied on 04-14-2009, 07:49 PM
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gotcha. but wouldnt they (Salliemae) want to negotiate before it does default? ya know?




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Sub: #18
Replied on 04-14-2009, 07:53 PM
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No...they wont negotiate a lower payment plan. Once you default they then demand payment in full and usually use the courts to secure a judgement.

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Sub: #19
Replied on 04-14-2009, 07:56 PM
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But what judgement would come out of it? I dont have any assets? I just have debt right now. No house, a company car, and if they garnish wages it would be the lowest payment I could imagine. So what are they getting out of it? I appreciate your assistance in this matter.




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Sub: #20
Replied on 04-15-2009, 05:14 AM
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Garnishment would be at 25% of your pay or whatever your state allows plus they can freeze and seize bank accounts.

This is just how private loans operate...they show no mercy.

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Sub: #21
Replied on 04-15-2009, 10:15 AM
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I live in PA and read they cannot garnish wages in this state. Is this true?




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Sub: #22
Replied on 04-15-2009, 10:16 AM
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Correct.

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Sub: #23
Replied on 04-15-2009, 10:56 AM
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How about New Jersey?

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Sub: #24
Replied on 04-15-2009, 06:43 PM
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Anyone know anything about New Jersey???

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Sub: #25
Replied on 04-16-2009, 05:28 AM
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Soaplady, do you know anything about New Jersey? Is it the same as pa?




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Sub: #26
Replied on 04-16-2009, 05:38 AM
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A simple search in our nifty search bar above on the right hand side would have easily revealed that New Jersey is a garnishment state...25% of disposable wages.

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Sub: #27
Replied on 04-16-2009, 06:25 AM
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o im sorry i needed help. Won't bother you again!! wow!!! and your the moderator??? if i knew i could i would have looked. unbelievable!

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