I have a student loan, currently in default
Date: Mon, 10/25/2010 - 11:11
I have a student loan, currently in default with a collection agency. Apparently the loan went straight from the lending agency to the collection agency so the department of education cannot help me at all, as they do not have my information on file. The collection agency has my loan in wage garnishment and is stating that without a $7,000.00 down payment they cannot get my loan out of wage garnishment. What can I do? I don't have that kind of money and I am living paycheck to paycheck as it is.
Your loan would have gone to the DOE and then a CA.....once assi
Your loan would have gone to the DOE and then a CA.....once assigned to a CA, DOE reps cannot access the account.
The only way to get out of garnishment is to rehab the account....you need to make 9 on time payments over and above the garnishment. The payment is based on your balance so talk to the CA about it.
