Shaka
Ironton,#2Consumer Comment
Fri, July 25, 2008
What about unsecured student loans. NOT staffords, the ones your school sets up for you, but the ones advertised by wachovia, chase, etc, stating you can borrow up to 40k/year while in school? Do they fall under the same categories as government backed loans? I am in default on these,and am getting harrassed for garnishment, repo, home lien, etc. I am paying the original loans the school helped me with (stafford), but was injured, unable to finsish school, and cant afford these personal loans??? van ru is all over me... any help, info?
Lynn
BLOOMINGTON,#3Consumer Comment
Thu, March 08, 2007
As an ex student loan collector, there are a few things you should be aware of. Nebraska Higher Ed or the Nebraska Student Loan program is a federal lender of guaranteed student loans. Your loan is guaranteed by the government and thus has no statutue of limitations. This means that the debt will never go away. Student loans are NOT dischargable in bankruptcy. You might want to do some reading on the Department of Education website. If Allied is calling you at work and you are refusing to pay, I can assure you they WILL quickly start a wage garnishment against you. Administrative wage garnishment is authorized by Congress and they can take 15% of your disposable pay. They can also seize your tax return and garnish goverment payments such as SSI and SSDI payments. I would suggest that you do some careful reading on defaults on the department of education website. You do have rights but you have to understand that you took out a loan that must be repaid.