Can the government or the 10th company they sold my student loan to put a lien on my house? In default 8 yrs.?
by Mortgage Rates on Saturday, October 9th, 2010 | 2 Comments
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The simple answer is yes. They can go after anything with your name on it. I don’t think they can garnish your spouses wages, but they can and will take any tax return that you may have coming.
You took out the loans, you agreed to pay them back. It is not the governments fault that your life plans changed. If you loaned someone money and they did not pay you back but instead went and bought a new car wouldn’t you be upset too?
I am not trying to be mean, but it is things like that that make it harder for people to get loans, and raises interest rates. You really should take care of them. When you get married your debt is also joint property!!
They can definitely put a lien on your home & any other property that has your name on it. As for your spouses wages I do not believe they can go after those. They also can take and state or federal tax return you may have coming to apply to the debt. You might want to call the US Dept of Ed and see if you can work something out on the student loans (if you are able to make some type of arrangement). These loans will follow you forever as they are not dis-chargeable even in bankruptcy except under extreme hardship.
Good luck!
Patty