05/07/2025
The anticipated Trump Administration strategy with student loans...
https://19thnews.org/2025/05/student-loan-debt-collection-questions/?utm_source=firefox-newtab-en-us
"Once you’ve failed to make a loan payment in 270 days, you will probably enter into default. That means, as of May 5, the government can take your federal tax refund and apply it to your debt. Starting in June, the government can also withhold up to 15 percent of any money you receive from Social Security, including disability payments. And later this summer, officials said, they will start the process of taking a cut of your paycheck, although borrowers have the right to appeal. Going into default can also harm your credit score, which can make it harder to rent an apartment or borrow money for other reasons, like buying a car."
Student loan debt is not typically discharged but personal bankruptcy may make sense to discharge your other debts if the government gets aggressive on collection. Contact the Law Office of Sean E. Underwood if you are having problems paying your debts. www.VABankruptcyHelp.com The Law Office of Sean E. Underwood is a debt relief agency as set forth in the United States Bankruptcy Code. We help people file for bankruptcy protection.
The Trump administration's plans for student loan payments are causing confusion and financial uncertainty among borrowers.