Legal Question in Credit and Debt Law in Iowa

last year i was garnished for a 26yr old student loan that i didnt even realize i had!,loan was 2,000$,interest and penalties 4,000$ ! as u can imagine i was pretty salty about this,having not been contacted at all over the 26yr period! well i was garnished straight through and when garnishment stopped there was still balance of 60$ showing. i thought this was kind of strange but soon forgot about it. now a year later i was contacted and asked what i wanted to do about this 200 and some dollar balance!!!!! they had purposely left 60$ balance to accrue more interest and penalties!!!!! is this legal? i mean,its not like i was making payments and just skipped last one, i was being garnished!!!! it seems to me they should have taken balance to 0$ while garnishing me! it certainly seems unethical,and should be illegal! im sure they're adding more as we speak.not to mention that this is probably being done to many others with outstanding student loans! i anxiously await your answer!!

Asked on 11/23/12, 4:13 am

Robert Luedeman solo practitioner

0 users found helpful

0 attorneys agreed

You owed sixty dollars and you did not pay it. I don't see a conspiracy here.

Answered on 11/24/12, 8:25 pm

Keywords

Match Any Match All

Country

State

Area of Law