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?

Questions

One Response to “Wage Garnishment for student loan”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

Yes, most institutions will go to this trouble for significantly less than $28,000 in debt.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)