Repaying student loan debt is a common challenge among graduates and former students. Many Americans struggle to make their astronomically high monthly student loan payments. Most are unaware that they qualify for income-driven repayment programs that can significantly reduce their monthly payment amounts based on their annual income and household size. Unfortunately, many borrowers do not realize the consequences of failing behind on their student loan payments until they experience garnishment.
When borrowers are unable to pay their federal student loan debt, the government may garnish the default borrower’s paychecks and Social Security checks. The government may also withhold the borrower or the borrower’s spouse’s tax returns to recoup on any outstanding student loan debt. Garnishment rarely ends until the borrower obtains his or her own legal representation. Upon obtaining legal representation, it typically takes around nine (9) months or more to cure the default and life the garnishment. Student Loan Law Group can help.
Borrowers who are struggling to make their monthly student loan payments or who would like for their payments to be lower are encouraged to ask for help about income-driven repayment plans. Student Loan Law Group is equipped with experts who are extremely knowledgeable in student loan laws and debtors’ rights laws. Student Loan Law Group can help clients prevent an impending default or cure an existing default and end garnishment. It is important to take quick action to resolve student loan problems before they grow and become increasingly frustrating and expensive issues to resolve. For more information on student loan debt management, visit Student Loan Law Group’s website at www.StudentLoanLawGroup.com or call 888-843-1706 to speak with a representative today!
