How exactly does Sallie Mae student loan wage garnishment work?
I’ve got a variety ofthrough Sallie Mae, most of which are in forbearance. My total sum of all loans is about 56k, and I don’t make enough money to pay any on them.
One or two of the smaller ones just went into default status the other day and I’m looking around online and it looks like they may be able to garnish up to 15% of gross paycheck. Is that correct? Is it a flat 15% or could it be less than that?
Also, when some of the other loans’ forbearance expires- will they be able to garnish ANOTHER 15% on top of what’s already being garnished? I live in California.
Thanks for any responses.
It looks like wage garnishment is actually my best option, given the details. My reasoning: my credit is already totally destroyed, so I can’t consolidate. So assuming that they can’t garnish more than 15% of my disposable (as more of the individual loans go into default), that looks like my best option.
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