web 2.0

Repayment of defaulted loan after tax refund garnishment?

Author: admin | Posted: 30-01-2010 | Category: Tax Refund Loan

I expected a letter stating that my income tax refund will be taken in 2010 due to me defaulting on my student loan last year. I talked to the lender and set up a payment plot to rehab the loan, but I was curious how equipment would change if I let the IRS take my tiny refund next year?

Much depends on whether your loan was centralized or private. If the debt is centralized, then the government has the right to garnish wages without a hearing. See http://www.ed.gov/offices/OSFAP/DCS/repaying.html and http://www.ed.gov/offices/OSFAP/DCS/disputes.html

For more information about resolving a student loan, see my recent answer to a reader with a question about collections and a student loan. The facts behind that reader’s question are different from yours, but my answer is relevant to you: http://www.bills.com/blog/resolving-a-student-loan-judgment/

I wish you the best of luck. I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill

http://www.bills.com/

Category: Tax Refund Loan by admin

3 Responses to “Repayment of defaulted loan after tax refund garnishment?”

  1. the tax lady, on January 30th, 2010 at 2:22 pm Said:

    No difference whether the IRS sends a check or you enter a check.
    You will be charged interest until the check clears.
    References :

  2. Ms. Angel.., on January 30th, 2010 at 2:44 pm Said:

    Change how? Not sure what your question is. It is simple IRS has been told to offset your refund and will happen, even though you have a payment plot, you waited to long to take care of the loan.
    Next time don’t ignore letter from places you owe, the end result is never a excellent one
    Excellent luck!
    References :

  3. Bills.com, on January 30th, 2010 at 3:01 pm Said:

    Much depends on whether your loan was centralized or private. If the debt is centralized, then the government has the right to garnish wages without a hearing. See http://www.ed.gov/offices/OSFAP/DCS/repaying.html and http://www.ed.gov/offices/OSFAP/DCS/disputes.html

    For more information about resolving a student loan, see my recent answer to a reader with a question about collections and a student loan. The facts behind that reader’s question are different from yours, but my answer is relevant to you: http://www.bills.com/blog/resolving-a-student-loan-judgment/

    I wish you the best of luck. I hope that the information I have provided helps you Find. Learn. Save.

    Best,
    Bill
    http://www.bills.com/
    References :
    http://www.bills.com/

Leave a Reply