Someone PLEASE help me with my sallie mae private student loan that's

That is not not true. I worked for sllie mae

I am trying to get back into school for my undergrad and i have a loan from sallie mae but I have missed my payments for the past few months (maybe 5 or more) what will be my first steps to take.? Someone was trying to tell me to condolidate my loans. And how can I go into deferrment? Ugh, I'm lost and confused and it doesn't help that im kinda ignorant to this fact.

Are you in default?

They are unfair for EXACTLY that reason. They give loans to 18 year olds who don't understand them and have no means of paying them back.

Also, people's financial situations can change mid way through college. I entered college with the belief that I could pay for it. My parent's soon lost their business, went through an expensive divorce, and the economy tanked. When I graduaded there were no jobs.

They need to work with people in these situations. Lower/suspended interest rates, more deferment, income based repayment, etc.

Hi there. Is there any way you could email me? I'm about to default on a loan and need advise....I'd like to know more about your settlement. I ower Sallie Mae over 125,000 and they want $800 a month from me. I definitely cannot pay this (at least while eating and paying rent, phone bills, etc.). I'd really appreciate more specifics on what they offered you/if they garnished your wages/etc. Thanks! CONTACT INFORMATION REMOVED PER TOS

The key is your beliefs that YOU could afford it...you couldnt, but you depended on your parents. Did you continue to borrow? Switch to a cheaper school?

Loans are not unfair....you borrowed them. Education is not a right, it is privelege. Right above your signature is a statement to this effect.. "This is a promisorry note...I have read AND UNDERSTAND the terms of this note."

If you borrowed federal loans, they will work with you....the interest is very low and affordable. Private loans are anothing thing...that is why I always advise people not to borrow them or depend on them unless absolutely necessary.

if you wish people to communicate, you need to join as a member...

Do you have access to a large amount of funds to even consider settling your account? Like $80-$90K?? With your balance I dont see them settling for anything lower.

i was just defaulted on a loan and told me that no options except for paying up were availiable. i know there must be other options. there has to be. you cant loan shark people like this. its torturous. i didnt even get a warning i was going to default. no letters no calls no nothing, or i would have done something to prevent the default instead of having to pay up 50 grand. what kind of company does this? where do i go for help??: (

Sorry, but once you have defaulted on a private loan, there is not much you can do except pay in full to resolve. There is no rehab, nobody will consolidate. If you were not paying, you had to expect that it would default.

FYI, even if they set you up on a payment plan, they will file suit against you. That is general rule for all private student loans.

What did you figure out/decide to do? I am in the exact same situation, and have no clue what to do!

You going to default on private or federal loans?

i was just on the phone with sallie may to settle my account in full 57,900 with in the next 6 months but they wouldnt give me until the 3rd of september to come up with the 10% of 5,800 they were demanding and when i said i was unable to do so they basically said see ya and hung up, here i am in default trying to settle the full amount and these &*&^&**^&^ wont work with me

You are in default....they as a general rule dont offer payment plans beyond 3 months to settle. They are under obligation to work with you.

I need to know my options before I end up going into 'default' status. I have accrued nearly 70K in private loan debt from Sallie Mae (original + interest), what are my options? I'm barely managing to make the 670 a month payments and wonder if consolidation is my only option? I know Wells Fargo has a program, but does anyone know of anywhere else or any other alternatives?? Also, how many days can you be late on a payment to Sallie Mae before you it appears on your credit and/or your account goes into default status?

Wells Fargo is about the only lender left to consolidate.

They will not report you late under you are 30 days or more past due. Default is 6 months on privates.

I have 2 FFEL Consolidated Loans (serviced thru Sallie Mae) that are currently in default. Because of the default status, the loans were turned over to the State Guaranty Agency to collect full payment. I was under a payment program but was late in sending them, which is breach of contract? My wages are about to be garnished & wanted to know if I would be able to delay them from collecting by re-consolidating both of those loans into one? What other options do I have or am I screwed? I've read that I can: 1) Voluntary repay- but does that mean I have to pay the orginal amount PLUS an additional? How is the amount determined? 2) Ask for a settlement or 3) See if I qualify for Income Contingent Repayment. Please help! Any advice would be greatly appreciated...