There are special benefits and repayment options for student loans available from the United States Department of Education and the United States Department of Defense loans. These include:
Service Members Civil Relief (SCRA) Interest Rate Cap:
This program limits the interest rate on private education and federal student loans you obtained before your military service to 6% during periods of active duty.
Military Service Deferment:
Federal student loan repayment can be postponed during active duty, military operations, national emergency and immediately following active duty.
Deferments After Active Duty:
You can postpone the repayment while you prepare to return to school after active duty.
Veterans Total and Permanent Disability Discharge:
A service connected disability may qualify you for a discharge of your federal student loans.
You can learn more about your repayment and even forgiveness options by contacting military student loan attorney, Nancy Cavey, at 727-828-9955.
WHAT YOU NEED TO KNOW ABOUT FEDERAL STUDENT LOAN WAGE GARNISHMENT
You may have difficulty paying back your student loans and have even defaulted on those loans. Did you know that your wages can be garnished for failure to pay your federal student loans?
In most instances you have to be taken to court and the lender has to get a judgment against you before they can garnish your wages. However, that is not the case with a federal student loan! The government has the right to garnish your pay without a lawsuit.
Federal student loan wage garnishment procedure
The United States Department of Education has to mail you a written notice 30 days before it begins to garnish your wages. The Department of Education has to tell you about the nature and amount of your debt, as well as the fact that they intend to initiate garnishment.
The notice must tell you that you have the right to:
• Inspect and copy records;
• Enter into a repayment program; and
• Request a hearing about the existence, amount, enforceability of the debt; the amount of withholdings, and whether you have been continuously employed less than twelve months after an involuntary separation from employment.
How to protect yourself if you receive a garnishment notice
You can request a hearing on or before the 30th day following the notice of garnishment. That will stop the garnishment until after a hearing.
If you wait more than 30 days you can still ask for a hearing but that won’t stop the garnishment process.
You can file a “Request for Hearing” form that allows the hearing to be done in writing, in person or even by phone.
Don’t let student loan garnishment devastate your finances. Protect your rights today by contacting student loan garnishment attorney, Nancy Cavey, today at 727-828-9955.