Will consolidating my debt stop garnishment search mature dating
That means your employer would be obligated to deduct money from your paychecks and give it to your creditor until the debt is paid.If you haven't paid your debt voluntarily, likely it's because money is tight.I am just wondering if there is any way to move to making voluntary and automatic monthly payments in replace of the garnishment to repay a student loan?Tiffany Click here to get my free my weekday email newsletter with the latest tips and advice on how to beat debt and do better financially. Dear Tiffany, I first wanted to address a misperception you and most others have that bankruptcy can't deal with student loans.It can and does when the bankruptcy attorney pursues it correctly.Many people have their student loans reduced or eliminated completely in bankruptcy. Much of this depends on what kind of student loans you actually have.I am starting a new job in the next week or so and I do not want my garnishment to be known at the new company. Susan Dear Susan, I'm assuming these are federal student loans you are struggling with since you mentioned the five payment solution.By Steve Rhode Dear Steve, My wages are being garnished for overdue student loans. I already declared bankruptcy about 6 years ago but of course that doesn't impact student loans.
If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan.
Without a doubt, the best way to deal with past-due debt is to be proactive about satisfying the financial obligation.
Doing so not only will help salvage your credit score, it will leave your paycheck intact.
Wage garnishment makes it even tougher to make ends meet.
Could you still afford to pay for your most vital needs, such as food and housing, on a reduced income?