Health Professionals Have Licenses Suspended Over Student Loan Debt

Student loan servicers and student loan companies have more power than your average creditor. They are given rights and shortcuts that normal creditors do not have. This is why students have such difficulty with these loans–aside from the often astronomical amounts that are owed, the money needed to repay them seems to disappear from people’s pockets without notice or due process. The Powers that Student Loan Companies Have Student loan companies have the ability to simply garnish your paycheck. All creditors have this right, but regular creditors have to sue you, take you to court, and get a judgment before any order is entered that money can be taken directly from your paycheck. Student loan companies get a shortcut–they are required to send you a notice, but can garnish your money without taking you to court or obtaining a judgment. Also unlike regular creditors, student loan companies have special protection from bankruptcy. The current bankruptcy laws…

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