garnishment
Social Security (and Disability) and Medical Debt…A Complex Issue
For seniors carrying substantial medical debt, the garnishment of federal benefit payments, specifically Social Security and Disability payments, can produce frightening anxiety at a time of extreme vulnerability. CBSNews.com contributor Angelica Leicht helps relieve some of that anxiety with an…
Survivor Benefits and Garnishment: It’s Important to Understand What Could Happen
Dealing with the aftermath of losing a loved one is, without question, one of the most troubling times for a survivor. And when it comes to finances, stress can magnify substantially, especially when there’s a debt burden. Consequently, it’s critical…
How a bank levy could affect your Social Security benefits
U.S. Census researchers have found that about 14 percent of Americans 65 and older rely on Social Security for 90 percent or more of their income. Given the importance of these funds, private debt collectors cannot garnish them; however, there…
Don’t Risk Losing Any of Your Social Security Benefits
Keep your information up-to-date with Social Security. Errors in reporting your income, change of address, or your marital status can affect your eligibility. You don’t want to find yourself dependent on your Social Security for income, to be notified that…
Social Security Garnishment for Overpayments and Student Loans
During Donald Trump’s presidency, the federal government continued and, in some cases, intensified efforts to claw back funds from Americans through Social Security overpayment collections and federal student loan enforcement. Social Security Overpayments Under Trump, the Social Security Administration (SSA)…
Garnishment of benefits are on hold
In yesterday’s headline article: “Are you at risk of a smaller benefit due to defaulted student loan?” the U.S. Department of Education announced it would begin to garnish Social Security benefits on those individuals who have defaulted on their student…
Are you at risk of a smaller benefit due to defaulted student loan?
The U.S. Department of Education announced its Office of Federal Student Aid (FSA) will resume collections of its defaulted federal student loan portfolio in May. The Department has not collected loans in default status since March 2020. Out of the…
Senate Bill to Block Social Security Garnishment Reintroduced
Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…
FSA to Stop Wage Garnishment, Collections Actions for Student Loan Borrowers
The Association of Mature American Citizens (AMAC) along with other consumer advocacy groups urged Education Secretary Betsy Devos to suspend the collection of defaulted federal student loans during the pandemic. In response, Education Department officials have ordered the private companies…
Seniors and the Student Loan Debt Crisis
The numbers are frightening…according to the Consumer Financial Protection Bureau (CFPB), the last decade has seen a dramatic increase in the number of older Americans with student loan debt, much of which is attributable to loans they’ve co-signed on behalf of family…