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Can Salli Mae garnish my SS disability direct deposit?

Winter Park, FL |

What I find unfortunate is that neither of the attorneys that answered my question was able to tell me about the new Excessive Debt Title 4 exemption. This is a forbearance good for 60 mos, but one must contact the loan company every year to make sure that your status is unchanged. If you make less than $25,000/yr (which is the taxable income), do not have to pay income taxes, and are on permanent social security disability, you automatically qualify for this forbearance. Sallie Mae won't tell you this. You have to do the research yourself, but if you mention this to them, they will understand what you are talking about. The government just came out with this new type of forbearance this year and it may help someone who is living on the edge like me.

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Attorney answers 2

Posted

Generally Social Security benefits cannot be garnished. However, be sure that you do not co-mingle your benefits with other deposits on that account. If you put your benefits into an account that you put other money into, then that may make the benefits capable of being garnished. The safest thing to do is to have a separate account solely for your SSDI benefits. Good luck!

Asker

Posted

The only income I get is disability, so that isn't a problem. I do not work, this is why I am on disability, but thank you. Why is that attorneys aren't up to date on the new law about the Excessive Debt Entitlement 4?

Timothy Michael McFalls

Timothy Michael McFalls

Posted

Your best bet to help you deal with paying back student loans would likely be a financial planner and/or a financial aid officer at a university. While I am personally aware of the Title IV forbearance you are referencing, it's really more of an issue for a financial planner than a lawyer. There's not really a legal issue for a lawyer to handle when it comes to student loan payoffs. A financial planner and likely a financial aid officer at the college or university you attended would probably be your best bet at helping you make a wise decision on how best to pay back your student loans. Good luck to you!

Posted

You are correct. Student loans have several options available when individuals can not afford the payments. There is a deferment for unemployment, forbearance, public service forgiveness and income based payment options. If you visit the Sallie Mae site they have a whole section devoted to the available options.

Asker

Posted

I suppose it depends on who you talk to. Like every other business in the world today, you call one day and get one answer, you call again the next day and get another answer. Generally, customer service is out the window and I do not remember this particular forbearance being listed at all on their site, but thank you for your help!