(If you’re already well-versed in your consolidation options, but are looking for information on newer programs such as a Home Equity Line of Credit (HELOC) Refi, we’ve got that covered as well.) Student loan refinancing allows you to modify either one or multiple student loans with new terms, including a lower interest rate.
One of the collection tools available for defaulted federal student loans is called a Federal Income Tax Return Intercept.
More and more student loans are becoming the most problematic debt anyone can own.
At some point in the past couple of decade student loans when from a leg up to financial slavery.
If, however, the deferment or forbearance ended, you may be in trouble depending on how long ago it ended. Department of Education sends a note to the Treasury who, upon being told by the IRS to issue a refund check, instead forwards the funds to the U. Department of Education to be applied towards your defaulted federal student loan balance.
If you only missed a few payments, even as many as 6, you should have time to save your loan from going into default. If you’ve missed 9 or more payments, your loan is likely in default. If you file a joint tax return and part of the money is owed to the non-borrowing spouse, he/she can file an IRS form to get their share of the refund back.