Student Loan garnishment after lay-off
Date: Sun, 09/13/2009 - 11:58
Hello... I was recently laid-off from my job in the state of Missouri. For the past year or so, my paychecks were garnished for student loan debt. I will be receiving severance pay and unemployment benefits soon, which I plan to deposit into my bank account. Can they just garnish my bank account? Or should I call and see about negotiating some form of monthly payment until I find another job? Any advice would be greatly appreciated. Thanks!
The severance pay could be at risk but the unemployment pay migh
The severance pay could be at risk but the unemployment pay might not get garnished. However, just hang tight for the expert's to drop in.
Your severance is garnishable. However, unemployment is exempt.
Your severance is garnishable. However, unemployment is exempt. While you are unemployed, you might want to look into a Direct Loan Consolidation with the Direct Loan Program to get you out of default.
