As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
Collections can’t garnish without your permission. Only the government can force garnishments.
Granted, the lender could sue you for the debt and garnishment could be part of the ruling. But you’ll probably know if you’ve gotten to that point.
For what it’s worth, I never paid off my private loans, and they went to collections, but never garnished me. My federal loans did auto-garnish, though.
With the labor shortage right now it would be expensive for loan collectors to hire enough workers to track down and force payments if people stop paying on a large scale.
Sounds like a good way to have your wages garnished.
Only for government-issued loans, I believe. Private loans won’t go into auto-garnishing unless you agree to it.
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Collections can’t garnish without your permission. Only the government can force garnishments.
Granted, the lender could sue you for the debt and garnishment could be part of the ruling. But you’ll probably know if you’ve gotten to that point.
For what it’s worth, I never paid off my private loans, and they went to collections, but never garnished me. My federal loans did auto-garnish, though.
I believe this varies by state.
So don’t pay and make them work for it.
With the labor shortage right now it would be expensive for loan collectors to hire enough workers to track down and force payments if people stop paying on a large scale.