Share post
Debt Consolidation Forums Student Loans and Education Debt forums

NC garnishment law for credit cards and sallie mae private

member profile picture

Two part question, first can wages be ganished in NC for credit card debt? Second I have a Sallie Mae personal private loan and can no one to considate this loan for me?Can I have my wages garnished for this loan?




@ part one: No. North Carolina does not allow garnishment for consumer debt.

@ part two: Huh??? Sallie Mae is a student lender, as far as I know. Are you inquiring about a student loan?

Sub: #1 posted on Sun, 11/16/2008 - 09:48

unclewulf unclewulf
Moderators
(Posts: 3172 | Credits: )

I have a Sallie Ma private student loan and can no one to considate this loan for me?Can I have my wages garnished for this loan?

Sub: #2 posted on Sun, 11/16/2008 - 14:04

Unregistered


Hang on a minute... Lemme move this post over where it'll get more exposure.

Sub: #3 posted on Sun, 11/16/2008 - 16:07

unclewulf unclewulf
Moderators
(Posts: 3172 | Credits: )

On consolidation: It's my understanding that you have to have two or more loans in order to consolidate. Soaplady should be along in a bit. Listen to her advice, she's the resident SL expert.

On garnishment for a defaulted SL in NC: I know they can for a Federal loan, not so sure on a private loan, but I think yes. Student loans are tricky, and the rules are different. Again, hang tight. More help is on the way.

Sub: #4 posted on Sun, 11/16/2008 - 16:19

unclewulf unclewulf
Moderators
(Posts: 3172 | Credits: )

Are you sure it is a Sallie Mae Private Loan? Sallie Mae handles both private (alternative) loans and FFELP (federal loans)

If it is truly a private loan, then they would have to get a judgement first. And since you are in NC, they cannot garnish your wages on the judgement. However they can seize bank accounts and lien other assets.

Sub: #5 posted on Sun, 11/16/2008 - 17:37

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17272 | Credits: )

Thanks for your insight.

Sub: #6 posted on Wed, 11/19/2008 - 05:12

Unregistered


can sallie mae garnish your wages for stafford and private loans for creative education in California?

Sub: #7 posted on Mon, 12/01/2008 - 11:51

Unregistered


Government loans including staffords can garnish in all 50 states without a court order. Private loans must take out a judgement first.

Sub: #8 posted on Mon, 12/01/2008 - 12:10

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17272 | Credits: )

I was inquiring about alternative (private) loans through Sallie Mae. My fiance took out federal loans and also private loans. She graduated from NYU and she had to take out about $60,000 in private loans through Sallie Mae. Is it possible to declare chapter 13 bankruptcy on ONLY the private loans? If not and we call to negotiate and they refuse us, would they consider negotiating with us if we default or would they just seek a court order for garnishment? Neither of us have any significant assets.

Sub: #9 posted on Fri, 12/05/2008 - 15:57

Unregistered


Private and federal loans are nondischargeable in bankruptcy. Private loans can be included in a chapter 13, however are not dischargable. This means when the BK is discharged, the balance will be updated with all the interest accrued over the 13 period.

If the loan is not in default, there is no negotiation. Once you do default, collection fees are added and the balance accelerated. They will negotiate a settlement then but maybe only 20% off of the balance or so for a one payment settlement.

Word of advise.....dont default. Work a second job, do something....but dont default.

Sub: #10 posted on Fri, 12/05/2008 - 16:10

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17272 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


Page loaded in 0.603 seconds.