Defaulted & Garnished
Federal Student Loan
Assistance
Get Out Of Default
-
Stop Your Tax Returns From Being Garnished
-
Prevent Wage Garnishments
-
Restore Your Credit
-
Return Your Loans To Good Standing
Wage Garnishment
Your wages may be garnished. This means your employer may be required to withhold a portion of your pay and send it to your loan holder to repay your defaulted loan.
Tax Refund Offset
All of your tax refunds and federal benefit payments may be withheld and used satisfy your failed loan repayment.
Bad Credit Rating
The default is reported to credit bureaus, diminishing your credit score and making it more difficult to buy a car, a house, or get a credit card.
Ineligible For Student Loan Forgiveness
You will not be eligible for any forgiveness programs that are available.
Collection Agencies
After filing for bankruptcy, you may be able to get your federal student loans dismissed.
Ineligible For Additional Student Aid
You will lose any chance of being eligible for any additional federal student aid during default.
Court
Collections will call you nonstop and may be able to sue you if you cannot make a payment.
Withheld Academic Transcript
Your academic transcript may be withheld until your defaulted student loan is paid off. The academic transcript is the property of the school.
CONSEQUENCES OF A DEFAULTED LOAN
Apply For Federal Student Loan Forgiveness
