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Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 87731
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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the tuition answer loan from sallie mae is a private, unsubsidized

Customer Question

the tuition answer loan from sallie mae is a private, unsubsidized loan, that people with excellent credit can borrow for students. My wife did that. She and she only signed the promissory note. We both lost our jobs in the current economy. I recently found one but and 14.00 an hour less than I was making. Can Sallie Mae garnish my wages, if I didn't sign the Promissory Note.
Submitted: 4 years ago.
Category: Legal
Expert:  Ely replied 4 years ago.
Hello,



My name is XXXXX XXXXX I am one of JustAnswer's attorneys. I'll be helping you resolve your matter today.



Please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



I am sorry that you find yourself in this situation. MI follows federal law, and federal statute limits withhold up to 25% of disposable earnings per week, unless the debtor's earnings are at or near the minimum wage, 15 USC 1673, in which case no withholding is allowed.They can only garnish an account that has her name on it, not yours (i.e. only her separate one, or joint).

Best of luck in your matter. I'm here if you need any more clarification or follow up information.



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Remember, sometimes the law under which your situation falls does not give you the outcome or the choices you wanted - please understand that this is not the attorney's fault, but the way of circumstance.



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You can always request me for a future legal consultation through my profile at http://www.justanswer.com/profile.aspx?PF=7286322&FID=7 If you do this, make sure to begin the question with “This Question is for Eli…”






















Customer: replied 4 years ago.
Sallie mae is stating that since i'm the Student on this loan, i am liable. However this type of loan is for people with excellent credit, which is why my wife signed at the time. At that time my credit was shot. When the promissory note was signed, it required only her signature. my question is.....Do you have to sign the promissory note to be liable
Expert:  Ely replied 4 years ago.
Earlier, you wrote that your WIFE is the student and only she signed the note. So, who is the student, and whose signature is on the promissory? :)
Customer: replied 4 years ago.
I am the student, she is the borrower, only she signed promissory note
Expert:  Ely replied 4 years ago.
Oh, I see. Nonetheless, both of you are liable in this case, I am sorry to say, so the garnishment, if taken out, can apply to anything with either of your names. Again, MI follows federal law, and federal statute limits withhold up to 25% of disposable earnings per week, unless the debtor's earnings are at or near the minimum wage, 15 USC 1673, in which case no withholding is allowed. Plus, they have to let you know of the garnishment motion and a quick hearing would be held before they start doing this.

Best of luck in your matter. I'm here if you need any more clarification or follow up information.



I hope you found my answer helpful, and if so please click on the ACCEPT button. This is the only way for me to get credit for my work - when you put in your payment information, I receive no credit for my time with you unless you press ACCEPT.



There is no fee for follow up questions should you wish to continue in this thread.



Remember, sometimes the law under which your situation falls does not give you the outcome or the choices you wanted - please understand that this is not the attorney's fault, but the way of circumstance.



There might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



If you feel that I went an extra step to help, a bonus would be appreciated!



You can always request me for a future legal consultation through my profile at http://www.justanswer.com/profile.aspx?PF=7286322&FID=7 If you do this, make sure to begin the question with “This Question is for Eli…”















Customer: replied 4 years ago.
Eli, I didn't sign the promissory note! this is the contract that of agreement to pay. Am i still liable?
Expert:  Ely replied 4 years ago.
Is your name on the agreement as the student?
Customer: replied 4 years ago.
on the application, yes i am the student. On the promissory note Sallie mae only wanted my wife's signature. because my credit didn't qualify me as a borrower. Don't you have to sign the actual promissory note to be liable. This loan is not a typical student loan. Its a signature loan for people with excellent credit to borrow money for people with poor credit.

The point i'm trying to state is. In order to be liable for a loan, you have to sign the promissory note don't you?
Expert:  Ely replied 4 years ago.
It's not that simple. There is just no way for me to see, really, unless I take a look at the contract. You can scan it in and upload it to:http://www.2shared.com/And then, I can take a look at it.
Customer: replied 4 years ago.
The contract is the promissory note, there is one signature on it,,my wifes. How can you be liable for any contract you didn't sign?
Expert:  Ely replied 4 years ago.
Again, I have to look at the contract to be sure. I cannot make a guess on it without seeing it. Can you scan in and upload it like I asked?
Customer: replied 4 years ago.
I'd like to but sallie mae won't send us a copy,,,,,my wife and I both know only she signed the contract (Promissory Note) we think sallie mae is trying to collect on me because she has defaulted as the borrower. The leak in there case is that "she" is the borrower. not me. it is clearly stated. I thought to be liable for anything ie mortgage, car, student loan,
you would have to have signed the agreement.
Expert:  Ely replied 4 years ago.
I am afraid I cannot answer your question w/o seeing a copy of the contract. Ask them for a copy (they will provide one), and then get back to me so I can look at it, okay? I can't guess otherwise :\

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