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Author Topic: Default of Private Loan/ Wage Garnishment  (Read 3072 times)

airotciv17

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Default of Private Loan/ Wage Garnishment
« on: March 25, 2017, 06:22:13 PM »
I just received an Abstract of Judgment and Notice of the Judgment that says in bold print "THIS IS ONLY A NOTICE" from my County Clerk/Record Office. I have to pay 9,500.00 to National Collegiate (or, the law firm handling the collection). I haven't gotten a date for which the garnishment will become effective or the amount, or anything.

I have a few questions about this new and unfortunate status of my loan.

1. Now that its an amount determined by a court, does that mean that it will no longer accrue interest?

2. Because I got that "THIS IS ONLY A NOTICE" and haven't actually received information regarding effective date or amount, do I still have time to pitch a repayment plan to the law firm?

IF ANYONE CAN GIVE ME ANY ANSWERS, OR POINT ME IN THE RIGHT DIRECTION FOR INFO OR RESOURCES, PLEEEEEASE DO. I'D REALLY APPRECIATE IT.


TheCollegeInvestor

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Re: Default of Private Loan/ Wage Garnishment
« Reply #1 on: March 25, 2017, 09:07:15 PM »
You should consult a lawyer familiar with student loan debt judgements ASAP.