Protect yourself in default by making regular payments
Setting up a repayment plan acceptable to your loan holder can protect you from harsh consequences like wage garnishment and withholding of your tax refunds and government payments. Additionally, by establishing a repayment plan, you may become eligible for loan rehabilitation.
Your loan holder will work with you to find a repayment plan that you can afford. But you have to act quickly.
Making satisfactory regular payments can:
- Stop the collections process
- Stop any legal proceeding against you
- Protect your state and federal tax refunds from being withheld
- Stop wage garnishment
Contact your loan holder to set up a default repayment plan. If you don’t know who your loan holder is, go to the National Student Loan Data System (NSLDS), which is the central database for all federal student loan information.
If ECMC holds your loans:
