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    fwiebe's Avatar
    fwiebe Posts: 2, Reputation: 1
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    #1

    Nov 2, 2011, 02:40 PM
    Student loan Garnishement? Can a 10 year old loan still be a garishment?
    I have a student loan that is over 10 years old. I graduated in March 2000. Can the collection agency still take me to court to garnish my wages? Or put a lean on my home? Is there no time constraint on them?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Nov 2, 2011, 03:09 PM
    Loans never expire and government student loans are exempt from most SOL laws and can't be excused in bankruptcy.
    MarineCorpsVet's Avatar
    MarineCorpsVet Posts: 4, Reputation: 1
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    #3

    Nov 2, 2011, 07:36 PM
    Student loans that have defaulted can greatly hurt you in the long run. When trying to get a home loan the student loan must be either paid off or corrected to a paying as agreed status otherwise you will not be able to get a FHA loan. ScottGem is correct in that student loans are not subject to exemption from any SOL and they cannot be excused from bankruptcy. So your best bet is to contanct the Student loan source and work out a payment schedule to get you back on track.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,304, Reputation: 7692
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    #4

    Nov 2, 2011, 08:00 PM
    And many student loans are not subject to a judgement to do a garnishment of wages. This is one of the most serious debts you have, and you need to address it.
    fwiebe's Avatar
    fwiebe Posts: 2, Reputation: 1
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    #5

    Nov 3, 2011, 05:02 AM
    I should maybe specify that this is a Canadian Student loan, (I noticed your locations are US), does that change the answer?

    I should specify I live in Ontario and this is a Canadian student loan. Does this still apply?

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