ED Magedson – Founder
General Revenue Corporation, Sallie Mae, United Student Aid Funds, Inc.11501 Northlake Drive Cincinnati, Ohio United States of America
I set up a 6 month payment program with General Revenue Corporation at which time I stated that our family was experiencing financial hardship as in we have lost over 75% of our families income in the last two years.
Now, General Revenue Corporation has garnished my husbands wages, who is the only working individual in our home for 15% of each net paycheck which is a total of 30% per month. This amount is a larger percentage then if my husband had to pay for child support in the State of Nevada.
When I called General Revenue Corporation to speak with them, I was then told it was 9 months payments not 6 months. I had the payments paid directly from my bank account so that General Revenue Corporation did not have to wait for a check.
What my question is in reading a rebuttal from a previous employee, is what federal statue governs General Revenue Corporation the ability to garnish 15% of each of my husbands net paychecks?
Yes, also I do understand that my husband signed a note to pay back this money. But, we could not foresee that I would be unable to find a job for the last two years as our state as a 13.5% unemployment rate.
Due to General Revenue Corporation garnishing my husbands wages triple what the payment was to them we are facing the possibility of losing our home that we have owned for the past twenty years and raised our three children in.
Nothing like kicking a hard working american family while we are down.
This report was posted on Ripoff Report on 09/29/2009 10:35 AM and is a permanent record located here: http://www.ripoffreport.com/reports/general-revenue-corporation-sallie-mae-united-student-aid-funds-inc/cincinnati-ohio-45249-1643/general-revenue-corporation-sallie-mae-united-student-aid-funds-inc-wage-garnishment-501652. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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