I owe several student loans that are in collection. Are the agencies involved allowed to take the money owed out of my account without my permission?
If you have a past due obligation and the debtor or its agent obtains a judgment against you for the debt, once it has identified an account you hold, it may be able to garnish or attach that account. Also, if the loan is federally guaranteed, the IRS can redirect part or all of any tax refund due you to help satisfy a past due education loan.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.