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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16559
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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Is my social security in danger of a collection agency My

This answer was rated:

Is my social security in danger of a collection agency My grandson is defaulting on his student loan I am the co-signer

Megan C :

I realize you have a question about social security. My goal is to provide you with excellent service, and help you better understand your options.

Megan C :

I hate to be the bearer of bad news, and please don't shoot the messenger, but the Debt Collection Improvement Act of 1996 (31 U.S.C. Section 3716(c)(A)(i)) now allows federal government agencies to offset Social Security benefits to collect debts such as student loans.

Megan C :

But, only 15% of your amount is subject to the garnishment, and if your benefit is $750 or less none of it can be taken.

Megan C :

Is there anything else I can assist you with today?

Megan C :

Have I provided you with excellent service?

Customer:

yes

Megan C :

Okay if you would, please rate my response using the feature along the bottom of your screen

Megan C :

Now that I know you are finished I have enabled the rating feature

Megan C and other Social Security Specialists are ready to help you
Thanks, Myrna for your positive rating. Please come back and visit me any time you have a tax, finance, or social security question. It was a pleasure working with you today.

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