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I have federal student loans that i am paying on fine and on

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I have federal student loans that i am paying on fine and on time. I also have personal lines of studen loan credit i took outside of the tuition costs, for living,school, and personal expenses that were not staffort loans through the school. These were based soley on my good credit at the time, and are in default now because i cannot pay them due to inability fo finish school due to back injury and lack of income. Do these personal loans have the same right to take my car and home and garnish my wages such as federal stafford loans etc.? I simply cannot pay them, they are defaulted for nearly a year now, and i dont know what to expect. I expect my wages to get garnished, but since i am a low wage worker as a server and my checks are zero to twenty dollars each week, what can they do?
Submitted: 7 years ago.
Category: Legal
Expert:  LADYLAWYER replied 7 years ago.



Yes, they are subject to the same conditions as the federal loans, but they cannot take any of your disability money, if you are receiving that. They can garnish your $20/week checks, but they can only take a percentage--so even if they do garnish, they won't get much. If you don't own property other than a homesteaded residence and 1 car, they can't really do anything with that either. You also have the option of filing for bankruptcy and having your attorney argue that paying back any of these loans put you in extreme financial hardship. Or you can just wait until they sue you and you can do the same thing. I can tell you though rarely, if ever, is student loan debt eliminated. I have seen people in wheelchairs with terrible diseases get denied. It is worth a shot though.

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