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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Family Law
Satisfied Customers: 116722
Experience:  Experienced attorney: Family law, Estate Law, SS Law etc.
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In 2002 I took out a loan of $7,000 Learning Center

Customer Question

In 2002 I took out a loan of $7,000 for Sylvan Learning Center to help my two nieces who were pulled out of school at a very young age. I have paid every month, for 14 years. The principal amount never seemed to reduce. The loan started with Sallie Mae and is now with Navient. I retired from BASF Corporation, my Son died of brain cancer, most of my money was used up. I made unwise decisions about pulling my retirement money out and put myself in terrible debt to the IRS. I could not pay everything on my Social Security so I decided to drop Navient. I was very angry because I have paid them twice what I borrowed and decided to not pay them until I got through paying the IRS. Of course they are threatening me with everything. Do I have any grounds to stand on?
Submitted: 1 year ago.
Category: Family Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If this is a federal backed student loan, yes, they have grounds to sue you and since you signed the loans you can be made to pay. Student loans are one of the rare exceptions of the law that allows your social security benefit to be garnished as well, so if they sue you and obtain a judgment against you, they can garnish your SS benefit. However, you need to find out what is going on, because if the loan was only $7000, something is not right as it should have been paid off in 10-15 years and you need to send them a written demand for an accounting on the loan showing your payments and credits to the account and that is your starting point so you can try to fight them based on their calculations being wrong.