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May 18 - uncle sam gets even more agressive in hunting down student loan mafia victims


 


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 4 weeks ago '09        #1
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messy marv stan 5343 heat pts5343
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May 18 - uncle sam gets even more agressive in hunting down student loan mafia victims
 

 
visit this link https://www.latimes.com/b .. 517-story.html


image


Your rich Uncle Sam is calling in his chips.

The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year — or an average of $1,000 from 2.9 million former students and their cosigners, according to the Treasury Department. And the trend continues. In the first six months of fiscal 2019, which started Oct. 1, collections totaled $3.3 billion.

Graduating students are usually granted a six-month grace period before making loan payments. Hypothetically, a member of the Class of 2019 with $50,000 in loans would owe about $550 a month over the next decade — or $20 a day. (Assuming 6% annual interest and a 10-year term.)

The debt load is causing anguish that goes far beyond financial concerns. One in 15 borrowers has considered suicide because of their school loans, according to a survey of 829 people conducted last month by Student Loan Planner, a debt advisory group.

The Consumer Financial Protection Bureau said it has received 2,475 complaints from borrowers about the government’s collection efforts since the start of 2018, including:


• “They call me daily, have called my brother, my father, my ex-brother-in-law, my current brother-in-law, and my ex-husband. They have told these individuals that they were trying to locate me for repayment of a student loan.”

• “Called my wife — five times in three minutes — son, brother- and sister-in-law — not even same last name — to tell me to pay.”

• “They’ve contacted my neighbors, my siblings, my sister-in-law’s parents, and engaged in harassing phone calls.”

Adding complaints about lenders other than the government would more than double the total



Penalties


The Treasury Department may withhold federal income tax refunds, Social Security payments (including Social Security disability benefits) and more:

• State tax refunds may be withheld and applied toward repayment of a loan.

• State driver’s licenses or other state-issued licenses may be confiscated.

• A borrower’s employer may be ordered to withhold up to 15% of disposable pay to collect defaulted debt without a court hearing. Withholding “garnishment” continues until a defaulted loan is paid in full or removed from default.

• Costs a*sociated with collecting defaulted federal student loans, including the cost of placing a loan with a private collection agency, can also be added to the balance due.

• Collection costs such as processing fees and costs a*sociated with potential civil litigation can also be added
+9   

39 comments for "May 18 - uncle sam gets even more agressive in hunting down student loan mafia victims"

 4 weeks ago '05        #2
cluckaluck 252 heat pts252
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They jacked my whole tax refund over my wife’s sh*t

We didn’t even know
+27   

 4 weeks ago '17        #3
BiggPhillmatic 
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 cluckaluck said
They jacked my whole tax refund over my wife’s sh*t

We didn’t even know
The same situation happened to me before, but it was "other debt" not student loan debt. But you should be able to file as an injured spouse. If the wife had wages on that return they may take a portion of that refund though.

I had to file an amended return adding the injured spouse form to get my refund back that year, that may work for you.
+10   

 4 weeks ago '04        #4
dc3003 136 heat pts136
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I didnt know the IRS made people sign up for college and take out a loan .
-20   

 4 weeks ago '15        #5
isthistobe 459 heat pts459
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God damn I just finished a fu*king. Final today too

I need this fu*kjng degree tho
+1   

 4 weeks ago '09        #6
messy marv stan 5343 heat pts5343 OP
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 cluckaluck said
They jacked my whole tax refund over my wife’s sh*t

We didn’t even know

thr student loan and banking mafias continually "lobby" congress to keep student loan debt from being bankruptcy eligible smh. they dont need to ruthlessly hunt down victims and extort them. i know uncle sam can easily write off the debt as a loss and keep it moving
+8   

 4 weeks ago '05        #7
cluckaluck 252 heat pts252
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 BiggPhillmatic said
The same situation happened to me before, but it was "other debt" not student loan debt. But you should be able to file as an injured spouse. If the wife had wages on that return they may take a portion of that refund though.

I had to file an amended return adding the injured spouse form to get my refund back that year, that may work for you.
they said I can do that ... but I have to wait 16 weeks and its only a stack I would get


so fu*k it

 4 weeks ago '11        #8
Sin 2121 heat pts2121
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 dc3003 said
I didnt know the IRS made people sign up for college and take out a loan .
I don’t understand what’s so hard to understand

When you sign a contract to borrow money and agree to repay it

You have to repay that money!!!

Or demand politicians change the laws to pay it for you
+5   

 4 weeks ago '08        #9
606robin 29 heat pts29
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I first had pity for folks, who got caught in that web. Until I finished my first two years at junior college for less than 1k a semester. Yet, got paid by FAFSA basically and scholarships, about 5k in surplus refund every semester. Then at 19, saw the rise of universities and joined the Army reserves. Ended up getting tons of aid for school out the a*s. Can get my doctorate paid for in Texas.

I stated I “lost pity”. Due to a lot of folks, were clowning junior college back in 2009-2011 when I went. Talking about ain’t sh*t banning, being boring and all that. Meanwhile, I got my bachelors degree paid for and got more surplus refunds. Took a 10k loan out, for my biomedical consulting certs. An that 10k is 75% paid already by the Army. My dad died, my mom was broke as fu*k. I had no rich uncles, a n*gga just been a hustler. Seriously, I remember in HS and walking to UT Austin’s table, and them saying it’s 14k to go there. I was like “Hmm... that’s not too bad, for a degree” and the lady laughing and saying “I wish, it’s 14k a semester “ knew at 16. Wasn’t gonna happen.

Now my class is mid 20s, and crying online about debt. An when I give game on how to handle, they ignore and state “I ain’t paying sh*t”. Yet, if they didn’t pay their phone bill or internet or rent. They’d be scrambling to get reconnected. It’s simple... you borrow money, pay that sh*t back. I don’t remember n*ggas, grabbing us seniors in HS with guns drawn, and forcing us to sign up for student loans. n*ggas went where “the hoes at” or to get lit.
+9   

 4 weeks ago '14        #10
Soaring Seagull 2 heat pts
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 dc3003 said
I didnt know the IRS made people sign up for college and take out a loan .
It's not that. It has more to do with the colleges knowing that kids will take these loans and upping the cost of college to ridiculous amounts as a result. I get that people chose this debt but we do need social workers, teachers, biologists, etc. It's not fair to overcharge and then underpay people who we greatly need in our economy.


Besides, that tax refund money is just a blip compared to what these students owe overall. It's a bubble that will burst in due time just like the housing bubble
+10   

 4 weeks ago '11        #11
Sin 2121 heat pts2121
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 606robin said
I first had pity for folks, who got caught in that web. Until I finished my first two years at junior college for less than 1k a semester. Yet, got paid by FAFSA basically and scholarships, about 5k in surplus refund every semester. Then at 19, saw the rise of universities and joined the Army reserves. Ended up getting tons of aid for school out the a*s. Can get my doctorate paid for in Texas.

I stated I “lost pity”. Due to a lot of folks, were clowning junior college back in 2009-2011 when I went. Talking about ain’t sh*t banning, being boring and all that. Meanwhile, I got my bachelors degree paid for and got more surplus refunds. Took a 10k loan out, for my biomedical consulting certs. An that 10k is 75% paid already by the Army. My dad died, my mom was broke as fu*k. I had no rich uncles, a n*gga just been a hustler. Seriously, I remember in HS and walking to UT Austin’s table, and them saying it’s 14k to go there. I was like “Hmm... that’s not too bad, for a degree” and the lady laughing and saying “I wish, it’s 14k a semester “ knew at 16. Wasn’t gonna happen.

Now my class is mid 20s, and crying online about debt. An when I give game on how to handle, they ignore and state “I ain’t paying sh*t”. Yet, if they didn’t pay their phone bill or internet or rent. They’d be scrambling to get reconnected. It’s simple... you borrow money, pay that sh*t back. I don’t remember n*ggas, grabbing us seniors in HS with guns drawn, and forcing us to sign up for student loans. n*ggas went where “the hoes at” or to get lit.
Come on hustling is hard

Why hustle when you can sign on the dotted line get a huge check and don’t have to pay back for 5 years sounds much easier
+3   

 4 weeks ago '08        #12
606robin 29 heat pts29
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 Sin said
Come on hustling is hard

Why hustle when you can sign on the dotted line get a huge check and don’t have to pay back for 5 years sounds much easier
That's usually what happens, when "kids raise kids" no matter the age.
+4   

 4 weeks ago '16        #13
OWPE 102 heat pts102
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 Soaring Seagull said
It's not that. It has more to do with the colleges knowing that kids will take these loans and upping the cost of college to ridiculous amounts as a result. I get that people chose this debt but we do need social workers, teachers, biologists, etc. It's not fair to overcharge and then underpay people who we greatly need in our economy.


Besides, that tax refund money is just a blip compared to what these students owe overall. It's a bubble that will burst in due time just like the housing bubble
All of the expensive colleges are run by democrats

-4   

 4 weeks ago '14        #14
Soaring Seagull 2 heat pts
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 OWPE said
All of the expensive colleges are run by democrats

That's why progressives are on the rise
+1   

 4 weeks ago '05        #15
projectd06 3 heat pts
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Thats because dudes going 50k in debt to get jobs paying 40k a year like a dumb a*s. Knew a dude who got 40k in loans, majored in English, and didnt want to be a teacher or write, im supposed to feel bad about this dude who got out of college and went to work at subway?

Im sorry but if you went to college for a job paying less than 60k that was very foolish, and for those who are thinking "but but project d i love my job", then shut the fu*k up about your debt.

I smoke yall loan payment up every month and i didnt go to college, i dont feel bad for folks who went to college just to go to college.
+3   

 4 weeks ago '05        #16
projectd06 3 heat pts
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Can we stop blaming lenders? If i could sell your dumbass a $1 bill for $20 im gonna do that sh*t all day. They are taking advantage of suckers
+2   

 4 weeks ago '12        #17
HeightsBound 121 heat pts121
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 cluckaluck said
They jacked my whole tax refund over my wife’s sh*t

We didn’t even know
Should of filed Married Filing Separately
+2   

 4 weeks ago '16        #18
Itsjustmefools 2 heat pts
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 cluckaluck said
They jacked my whole tax refund over my wife’s sh*t

We didn’t even know
 BiggPhillmatic said
The same situation happened to me before, but it was "other debt" not student loan debt. But you should be able to file as an injured spouse. If the wife had wages on that return they may take a portion of that refund though.

I had to file an amended return adding the injured spouse form to get my refund back that year, that may work for you.
 HeightsBound said
Should of filed Married Filing Separately
Call the irs offset line the automated system will tell you if anything getting taken.i call it everytime before I file

1 (800) 304-3107
+2   

 4 weeks ago '11        #19
BtMkRs 13 heat pts13
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Better go back & take archery or some sh!t
+1   

 4 weeks ago '18        #20
niruggg 63 heat pts63
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 606robin said
I first had pity for folks, who got caught in that web. Until I finished my first two years at junior college for less than 1k a semester. Yet, got paid by FAFSA basically and scholarships, about 5k in surplus refund every semester. Then at 19, saw the rise of universities and joined the Army reserves. Ended up getting tons of aid for school out the a*s. Can get my doctorate paid for in Texas.

I stated I “lost pity”. Due to a lot of folks, were clowning junior college back in 2009-2011 when I went. Talking about ain’t sh*t banning, being boring and all that. Meanwhile, I got my bachelors degree paid for and got more surplus refunds. Took a 10k loan out, for my biomedical consulting certs. An that 10k is 75% paid already by the Army. My dad died, my mom was broke as fu*k. I had no rich uncles, a n*gga just been a hustler. Seriously, I remember in HS and walking to UT Austin’s table, and them saying it’s 14k to go there. I was like “Hmm... that’s not too bad, for a degree” and the lady laughing and saying “I wish, it’s 14k a semester “ knew at 16. Wasn’t gonna happen.

Now my class is mid 20s, and crying online about debt. An when I give game on how to handle, they ignore and state “I ain’t paying sh*t”. Yet, if they didn’t pay their phone bill or internet or rent. They’d be scrambling to get reconnected. It’s simple... you borrow money, pay that sh*t back. I don’t remember n*ggas, grabbing us seniors in HS with guns drawn, and forcing us to sign up for student loans. n*ggas went where “the hoes at” or to get lit.

[pic - click to view]

+2   

 4 weeks ago '08        #21
606robin 29 heat pts29
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 niruggg said

[pic - click to view]

It’s true. My junior college was $50 a SH, back then. A full 15 hrs was $900, it’s went up now. But not by much... was able to transfer all to one of the top Texas business schools.



[pic - click to view]

+2   

 4 weeks ago '08        #22
606robin 29 heat pts29
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When I listen to n*ggas talking about “I got a mortgage in social studies, religion, English, communication (in the age of YT, SoundCloud n sh*t?) and so on” it blows my mind. Like chase your passion, but have means to pay or dual major in something with prospect. An if you’re “trying to find yourself” go to fu*kin junior college. Dumb n*ggas still following “trends and waves” and go to party schools n sh*t. End up staying and flunking, then hold 5 figs in loans with no degree lol. Like my n*gga, that’s like buying a house. An telling them to stop before framing lol... an n*ggas go work under $15hr jobs, while their interest is going gang bang, on their principal and SVUn their credit scores. I know n*ggas with 400 credit scores. n*ggas get APRs similar to their Age lol. Nights stupid period... college isn’t sh*t for a majority of folks. They have to be clientele’s for life...
+1   

 4 weeks ago '19        #23
satchseven 10 heat pts10
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 OWPE said
All of the expensive colleges are run by democrats

Goddamn lol

 4 weeks ago '17        #24
92baby 2 heat pts
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 606robin said
I first had pity for folks, who got caught in that web. Until I finished my first two years at junior college for less than 1k a semester. Yet, got paid by FAFSA basically and scholarships, about 5k in surplus refund every semester. Then at 19, saw the rise of universities and joined the Army reserves. Ended up getting tons of aid for school out the a*s. Can get my doctorate paid for in Texas.

I stated I “lost pity”. Due to a lot of folks, were clowning junior college back in 2009-2011 when I went. Talking about ain’t sh*t banning, being boring and all that. Meanwhile, I got my bachelors degree paid for and got more surplus refunds. Took a 10k loan out, for my biomedical consulting certs. An that 10k is 75% paid already by the Army. My dad died, my mom was broke as fu*k. I had no rich uncles, a n*gga just been a hustler. Seriously, I remember in HS and walking to UT Austin’s table, and them saying it’s 14k to go there. I was like “Hmm... that’s not too bad, for a degree” and the lady laughing and saying “I wish, it’s 14k a semester “ knew at 16. Wasn’t gonna happen.

Now my class is mid 20s, and crying online about debt. An when I give game on how to handle, they ignore and state “I ain’t paying sh*t”. Yet, if they didn’t pay their phone bill or internet or rent. They’d be scrambling to get reconnected. It’s simple... you borrow money, pay that sh*t back. I don’t remember n*ggas, grabbing us seniors in HS with guns drawn, and forcing us to sign up for student loans. n*ggas went where “the hoes at” or to get lit.
#bars

 4 weeks ago '11        #25
Tony Franks 6 heat pts
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 projectd06 said
Can we stop blaming lenders? If i could sell your dumbass a $1 bill for $20 im gonna do that sh*t all day. They are taking advantage of suckers
Thats what happened in the housing bubble that crashed the economy. I think we shouldnt let professional finessers take advantage of folks who arent being taught sh*t in school

I could see if Highschool actually taught u life skills or sumn, but its a complete set up.
+3   

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