Legal Question in Credit and Debt Law in South Carolina

Defaulted Student Loans & 401K's

My daughter forged my signature on a student loan years ago. My social security check is being garnished for it, my tax refunds have been taken. My money is safe in a 401K, but if I move it to an IRA, am I right to assume it will be taken as well? I was told so by a paralegal. I refuse to press charges against my daughter b/c of my young grandchildren. If I did, then the department of education says they would stop garnishment and take it out of my name. They know that I did not sign it, since I sent them proof of my signatures, and writing samples. Because I told them I wouldn't press charges, they denied my request for a loan discharge due to identity theft. What other options do I have? My life savings is at stake, and I need to withdraw the money ASAP. But I'm afraid that once I do and put it in my checking account that the Dept. of Ed. will take it. What are my options? I don't want my grandchildren to see their mother locked up in jail. At the same time, I need to keep a roof over my head. I need to get my money out of my 401K without it being taken for a student loan I never signed for or authorized.

Asked on 2/26/08, 6:07 pm

1 Answer from Attorneys

Ray Lord Lord Law Firm, LLC
0 users found helpful
0 attorneys agreed

Re: Defaulted Student Loans & 401K's

You may have some options which could possibly meet your needs, but you should consult with an attorney who is experienced in this kind of law. For a free and confidential consultation please contact my office.

Read more
Answered on 2/26/08, 7:56 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in South Carolina

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now