Generally, under federal law, up to 15% of a person's disposable pay can be garnished for student loan debt. However, Florida has its own garnishment laws that may impact student loan garnishment.
In Florida, the head of wages can be garnished for student loans if the borrower is in default on their loan and the lender has obtained a judgment against them. The judgment must be registered with the Florida Department of Revenue and the lender must follow certain procedures before they can begin wage garnishment.
The amount of wages that can be garnished in Florida is limited to 25% of the borrower's disposable pay. Disposable pay is defined as the amount of income left after deductions for federal and state taxes, Social Security, and other mandatory payroll deductions.
There are some exceptions to the general garnishment rules in Florida. For example, wages cannot be garnished for student loans if the borrower is receiving food stamps or other forms of public assistance. Additionally, wages cannot be garnished if the borrower is a member of the military.
If you are facing student loan garnishment in Florida, you should contact an attorney to discuss your options. There may be ways to stop or reduce the garnishment, such as filing for bankruptcy or enrolling in a repayment plan.
