Social Security and defaulted student loans

Many people have to borrow money to attend the colleges of their choice, and many of these people later find themselves in a situation that makes them unable to pay the money back. For whatever reason, this inability to pay a defaulted student loan can affect your life negatively. And, if you are one of many who depend on Social Security this can be disastrous.

In Lockhart v. United States, the Supreme Court was asked to rule on whether social security benefits could be confiscated by the federal government to pay off outstanding defaulted student loans. In the past, federal law mandated that efforts to collect defaulted student loans had a 10 year limit. In other words, the federal government was unable to hunt down delinquent payers after ten years. Unfortunately, Congress did away with this limitation, allowing the federal government jurisdiction to recover money owed for defaulted student loans by taking it out of social security benefits.

Why would anyone allow this to happen to them? The answer is simple-KNOWLEDGE. At Olympus Prime we are aware of all laws governing defaulted student loans and have the experience and expertise needed to deal with the federal government. Don’t wait any longer, the time to act is now.

Apply now and get peace of mind!