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#18
02-06-2008, 09:10 PM
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so it's true that they can take your social security or your income tax check. well if it is i don't think that's fair.
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#19
02-07-2008, 06:48 PM
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I'm normally on the other side of this sort of thing, but I don't see what's so honkin' unfair about it. Student loans have about the most liberal range of options of any common debt type. Try asking your PDL or credit card bank for a forbearance because money's tight right then.
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Wulfisms: my blog The four 'no's of dealing with collectors: No validation? No payment. No way! No kidding!! Tellin' you all the zomby troof Here I'm is, the zomby woof [Frank Zappa, 1988 - R.I.P.]
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#20
03-10-2008, 01:27 PM
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Sallie Mae Loans
I am 74 days delinquent right now. I called Sallie Mae today and they told me they start the default process at 180 days. My payments are over $300 a month. I cannot afford this.I can't even express to you how much I can't afford this. I only have two months of forbearance time left. They say they can't lower my payments anymore. They offered me consolidation but then turned around and told me I need a cosigner which of course I don't have. I have written to the PA Attornery General's Office who did look into it but told me there wasn't anything they could do. I am advising that if you live in PA that you try this. Maybe if they get enough complaints they will do something. I don't know what I will do once the start docking my paychecks. I owe about 25k.
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#21
03-10-2008, 05:08 PM
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Quote:
Only thing I can suggest is that you increase your income or get an additional job. Private loans DO sue on defaults. Plus there is no SOL and they cannot be discharged in BK
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#24
06-02-2009, 06:43 PM
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defaulted loans
my one student loan is in default...i was wondering if you get sued for non payment what can they take if you dont own anything? i understand they can garnish your wages and make you pay court costs but do they put you in jail if you cant pay
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#25
06-02-2009, 11:45 PM
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No,they can't put you in jail. They can take your tax refunds and garnish your wages, though.
Here is an interesting report put out by the National Consumer Law Center called Too Small To Help: The Plight of Financially Distressed Private Student Loan Borrowers. In it, they call for re-regulation of the industry, forcing private student loan lenders to work with you. They are also calling for the repeal of the 2005 adjustments to the Bankruptcy Code (apparently you used to be able to discharge private loans in BK). Anyway, Sallie Mae responded to their query on what a borrower could do to ease their situation. That answer is on page 9. Have you tried any of these methods? __________________
FRAUD: RECOGNIZE IT. REPORT IT. STOP IT. Rip-off companies - FTC. Phone harassment by Debt Collectors - FCC. Banking issues, like ACH problems - OCC.
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#27
06-03-2009, 03:23 AM
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Yes they can. And do. But you would have to default and they would have to sue you. See page 9 of the above linked report about Sallie Mae. Your default info is on your loan contract, it could be as fast as one missed payment!
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FRAUD: RECOGNIZE IT. REPORT IT. STOP IT. Rip-off companies - FTC. Phone harassment by Debt Collectors - FCC. Banking issues, like ACH problems - OCC.
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#31
06-22-2009, 04:33 PM
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If i co-signed for my exhusband on a student loan and he was given the bill to pay in our divorce, if he is only paying the collector whatever he can every month because he pays too much in child support for them to take out any money out of his payroll check will they do anything to me. He says as long as he sends them something there is nothing that they can do. Is that true?
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