Wage Garnishment for student loan
January 24th, 2006 by Questions
I have $28k student loan I have defaulted on. I was making interest payment for a while but for the last three years I just stopped making any payments because I find my income is too low. So I have been getting collection calls offcourse. My question is: Would the bank bother going to court for $28k and pay lawyers to get garnishing right?
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January 28, 2006 at 7:20 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:
Yes, most institutions will go to this trouble for significantly less than $28,000 in debt.