A company we have never heard of before is threatening to garnish my spouses wages because we can not pay what they are asking us to pay. My wife is currently a stay-at-home mom and has no income. Can my wages be garnished for her student loan debt? Can our joint bank account be garnished?

Your wages cannot be garnished, but your joint account can be attached simply because she is listed on the account.

Were these loans procured before your marriage or during? That is what may make the difference.

These loans were procured before our marriage.

Ah, I am in your position as this happened to my husband. He took out loans before we met.

Now, they could never attach my wages, but because we held a joint account they could attach that once a judgment has been entered by the court.

Another thing to consider is the IRS, they can (and did in my case) attach our Tax Returns, to stop them from attaching mine I had to file Injured Spouse.

Now we have made an agreement and pay a minimal amount each month and all fears of attachment are gone.

Would it be wise to remove her name from our checking account if it gets to a point that they have a judgement against us? We have tried, unsuccessfully to offer what we are able to pay every month and they will not work with us.

I will let the money experts answer that question. I just posted because I have personal experience here.

I will go so far as to say that we did remove his name from our accounts until we got it all straightened out with the lender.

Closed the jont account and open another checking acount just in your name, peferably at another bank.

Make sure all assets are JUST in your name.

Once you have made it impossible for them to collect the debt without your cooperation, they will then be more willing to either settle for a reduced amount or set up a payment plan you can live with.