Borrowing Money for School

How to Handle a Garnishment Notice

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In Brief...

The federal government uses the term " A garnishment gives a creditor, debt collector or legal entity, such as the state or the Internal Revenue Service, the legal right to seize your property, or rights to property, to satisfy a debt you owe. For IRS and state tax levies, and federal student loans, you have 30 days from the notice date to respond to the notice. For example, the IRS may be willing to stop collection on your wages to give you the time you need to gather the funds.. For IRS and state tax levies, a nonrefundable deposit may be required when you make the offer.

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