Wage Lien - How do I take over the payments?

**Seeker** · 05-10-2008, 02:14 PM

Josh --

You will not be able to resolve this alone. Once it's gone to the garnishment stage, you need someone to help you reorganize this.

Below is one company that can help you "fix" this; there many other companies.

There will be fees associated with this process and there will be an outrageous interest rate for a time.... but if you make regular payments on time, these companies do report to the credit reporting agencies and your credit rating will rise accordingly.

Student Loan Garnishment - Asgard Financial Services

**LuxLiving** · 05-10-2008, 02:22 PM

I would use the library or an online source to trace down a physical location for this place and write and ask for proof or documentation of this debt. You say you don't know about owing it??? That sounds kinda wonky to me, how something could get to the garnishment phase w/o you ever having heard of it. At any rate, get a physical address and write to them and see what needs doing.

**Seeker** · 05-10-2008, 02:36 PM

There's another type of solution to this as well.

Companies that negotiate with the Student Loan people and work out an arrangement to "rehabilitate" the students credit score.

My DH worked with a rehabilitating company.... and after a year or so, the loan was sold off to SallieMae at a reasonable interest rate and his credit score started working it's was into the high 600's and now is slightly above 720. DH had been through a bankruptcy beforehand and was not earning enough money to pay student loans and room, food, etc.

His student loans never got to the garnishment phase.... but there were people calling him before we called a lawyer friend who recommended getting in touch with the professional companies that can help properly.

I don't remember which company that he used originally... but I do know that the hassle of our trying to resolve this on our own would have been not worth it in terms of time, frustration or money.

**Joan.of.the.Arch** · 05-10-2008, 04:10 PM

Yes, you need to do as LuxLiving says and contact the agency collecting the garnishment money. It amazes me that you could have an outstanding debt that you did not know about. Do you really not have such a debt? Strange frauds have happened. Is the collecting agency NCO FINANCIAL SYSTEMS, by any chance? There is some info out on the net about them and possible fraudulent student loan debt collection.

**JoshuaD** · 05-10-2008, 04:46 PM

I'm sure the debt's mine. I dropped out of school and just stopped caring for about 2 years. I was pretty depressed and ignored a lot of stuff. I had some loans from FAFSA, but I only payed attention to the one I had gotten through Sally Mae.

I don't believe I got a letter in the mail saying I owe whatever, and I'm certain that my job never gave me the requisite letter letting me know they would be garnishing and who was responsible.

I'm not trying to say it's not my fault, I definitely ignored some stuff. I'm just a little frustrated because it didn't seem to go through some of the steps I had read that I was entitled to, and now that I do care, I seem powerless to fix the problem.

I'm really trying to figure out how to move forward from here. My youth is riddled with mistakes; but I can't change them.

**Seeker** · 05-10-2008, 06:17 PM

Originally posted by JoshuaD View Post

I'm sure the debt's mine. I dropped out of school and just stopped caring for about 2 years. I was pretty depressed and ignored a lot of stuff. I had some loans from FAFSA, but I only payed attention to the one I had gotten through Sally Mae.

I don't believe I got a letter in the mail saying I owe whatever, and I'm certain that my job never gave me the requisite letter letting me know they would be garnishing and who was responsible.

I'm not trying to say it's not my fault, I definitely ignored some stuff. I'm just a little frustrated because it didn't seem to go through some of the steps I had read that I was entitled to, and now that I do care, I seem powerless to fix the problem.

I'm really trying to figure out how to move forward from here. My youth is riddled with mistakes; but I can't change them.

Josh, your place of work is supposed to send you a copy of the (legal papers) Writ of Judgement after they have begun to garnish your wages. You should ask them for that as I am sure that they will have it in your file.

Yes, you can attempt to contact that company, and appeal to have the garnishment removed.... but chances are that they will not do so. They don't have any obligation to do so..... and it's not in their best interest. Currently they are getting paid by garnishing your wages. They have a sure thing going.

Your only viable course of action, if you want to resolve this without struggling to contact and negotiate and appeal, is to do as I have suggested above.

Yes it costs something extra. But what is important to you?

If you can pay and do pay, timely, consistently and reliably, then these financial companies can and do work to (1) resolve the debts, (2) remove the garnishment and (3) repair your credit rating. But this will only work if you make the payments that are agreed upon.

Nobody can correct their past, but in order for you to move forward with this problem; you will need a company to help you (unless you can pay off the full amount of the loan now, I can almost guarantee you that the student loan company that has pursued this course of action -- court, judgement and written proof of debt and ultimately the writ issued to your workplace -- will not go back to square one with you).

Good luck

**JoshuaD** · 05-10-2008, 10:29 PM

What if I could pay it off with savings? I'd have pretty much nothing left in savings afterwards, but I'd be able to kill the whole debt.

My savings are in the market and are doing pretty well. I'd hate to give that up.

**Seeker** · 05-10-2008, 11:39 PM

You are not obligated to give up your savings to pay off this debt.

If your savings is doing better than the interest rate they are charging you, then I'd leave savings where it's at.

It is better to feed the debt with current income than to wipe out savings and have nothing if the job disappears.

What you do is up to you. I have already stated the route I'd take if this were happening to me.

Understanding the process these student loan people have taken to collect from you, I'd be very angry and I wouldn't be able to deal with them at all.

Understand that they made a deliberate effort to pursue collection of your account through the legal system and found your workplace and still did not contact you to give you an opportunity to negotiate or to start paying. Even my hubby had that chance and again, his never got to a garnishment stage. His record was not further harmed, but yours is at the moment.

To me, it's just wrong....

Wage Lien - How do I take over the payments?