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Posts tagged "wage garnishment"

Student loans and asset forfeiture for New York seniors

Senior citizens in New York may likely be considering their retirement options. Retirement is often a time when people live off the hard earned money they have been saving for most of their adult life. Often, retirees may see the benefit of their hard work and have excellent credit scores. However, a new trend is creating financial difficulties for many seniors and opening them up to the possibility of asset forfeiture.

Scammers may threaten wage garnishment

It can be easy for people to fall behind on their debts. New York residents can have a lot of obligations that they just can't meet each month. If the pattern continues for too long, creditors can become aggressive about collecting the debt. In some cases, the creditors might turn to asset forfeiture techniques in order to collect some money. These can include wage garnishment, repossession or foreclosure, depending on the type of loan.

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