/ Register

tax return being taken

Discussion in 'Credit Talk' started by DINKHOLT, Apr 9, 2002.

  1. Apr 9, 2002 #1
    DINKHOLT

    DINKHOLT Member

    Hi,
    I am wondering, Last year my tax return was taken because I owed defaulted student loan. Yeah, they finally got me. I was expecting to get $4000 back for refund. Damn it. I could of use the money like I could use it now.

    If I file this year, I am guessing that they will take my refund again. My student loans is close to $8000.
    Interest will keep that price going up I guess.

    Do yall think I could work out a settlement with the loan people? Will I ever get a refund?

    Thanks for reply.
     
  3. Apr 9, 2002 #2
    backspace

    backspace Well-Known Member

    You best contact the lender and inquire about the Rehab program, or it's bye bye refund again and until you make an effort to work out the balance......
     
  4. Apr 9, 2002 #3
    DaveLV

    DaveLV Well-Known Member

    You could also adjust your withholdings so you don't get such a large refund for them to take. :)
     
  5. Apr 9, 2002 #4
    wolverine

    wolverine Well-Known Member

    You really need to fill out a new w-4 and adjust your withholding. why let the government play with all your extra money.

    On the subject of settling with the SL people, you will probably have to rehab the loans before you can get a tax return. The problem is that the gov't paid your loans already since you defaulted on them. They want their money back.
     
  6. Apr 9, 2002 #5
    javan

    javan Well-Known Member

    rehabilitate that loan quick. just call, its real easy. you'll have to make 12 on time payments, then your loan is sold to a conventional lender. i just finished rehabilitation and will be making my first payment to the new lender on the 19th. i also received a nice letter from the gov't saying they will remove all negative marks from my CB reports!

    good luck
     
  7. Apr 9, 2002 #6
    GEORGE

    GEORGE Well-Known Member

    The BEST thing to do with your taxes is neither pay nor get a refund if at all possible.

    Don't let them use your money INTEREST FREE...

    On the other hand DON'T under-withhold so you have to pay a bunch.

    TRY FOR AS CLOSE TO $0.00 AS POSSIBLE...

    If you owe $5,200 this year in taxes...put like "8" married/single on the special line add $100/week...PRESTO you have only withheld $5,200
     
  8. Apr 10, 2002 #7
    uniondiva

    uniondiva Well-Known Member

    you will not get a refund this year either. you are really lucky they have not pursued garnishment (which for student loans is easy). If they take this years refund, will that pay off loans? call it a blessing and be through.

    you will want to contact lender and get a full accounting of what you owe and how any refund was applied, to avoid future problems. if the refund seizure will not satisfy the loan, you need to work out a payment plan quickly, to avoid the same problem again next year.
     

Share This Page