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Here are the basics of my situation, I need some help with what is the best way to proceed...

- 2004 got a student loan/cash loan in my senior year of college for $3000
-2004-2008 went to grad school
-2008-present been making payments on this loan fairly consistently
-Last year my son was born 10 weeks premature and we incurred alot of medical bills
-Slacked on my loan and it ended up going into default
-was notified this january that it had been passed over to this attorney Kramer and Frank
-Told them I was in the process of trying to get my loans consolidated and would talk to them in february
- was not able to get things figured out by then and did not call them
-yesterday I receive a summons saying i am being sued for around $3500. $3100 principal plus some late fees and initial court filing fees
-Contact Kramer and Frank to see what my options are
-They tell me that my only options are to pay the balance in full
- I told them I cannot do that and they said then we have to go to court
- i asked them if i could pay half this week and the rest later
-she says yes you could pay half Monday and the other half within 30 days and they will ask the court for an extension
- since then i have decided that i will not be able to do that without getting very behind
- i am planning on calling her monday and telling her that and going from there

I know that the debt is legit, but I am not 100% sure if the dollar amount is correct. I contacted the original loan company and they said they have no information any more and it has been sent to their "legal department" ie Frank and Kramer

So what should I do?

-Try and work out a payment plan over the phone with her?

-Try and work out a payment plan with the attorney on the court date prior to going in front of the judge?

-Take the case to the judge and admit that I owe them money but don't believe they have the correct amount considering I have been making payments over the last couple of years prior to defaulting.

My main thing is I want to prevent garnishment, bank accounts being frozen and also have some protection from this company taking advantage of me. If I reach an agreement with attorney prior to seeing the judge is that considered a consentual judgement?

What do you guys think? This is in Missouri if that makes any difference.


In regards to your balance...your interest is accruing and capitalizing PLUS you are charged the cost of the action...all the court and legal fees. The company is NOT taking advantage of you...the account has been assigned to them and your student loan company does all the calulations on your balance.

If you do come to an agreement to pay it off in full, you still need to show up in court.

Sub: #1 posted on Wed, 04/03/2013 - 16:01

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