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Debt Consolidation Forums Student Loans and Education Debt forums

student loans

Date: Thu, 08/16/2012 11:03
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Can they threaten you on Sallie Mae loans they bought even though there's no possible way I can pay more than $100.00 a month. I would like to have a good faith committment but I'm only making $12 hourly and my mom cosigned and can't make payments either at this time.




For starters, student loans are assigned to collection agencies, not sold.
And yes, they can sue BOTH of you for private student loans and garnish BOTH of your wages. Sallie Mae does sue on a regular basis. So it is would be a valid threat.

Sub: #1 posted on Thu, 08/16/2012 - 11:19

SOAPLADY SOAPLADY
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Are these Federal loans or private loans?

Sub: #2 posted on Thu, 08/16/2012 - 11:23

OhioGal1 OhioGal1
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Federal loans do not require cosignors...that is how I know they are private.

Sub: #3 posted on Thu, 08/16/2012 - 11:40

SOAPLADY SOAPLADY
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(Posts: 17310 | Credits: )

You're so smart :)

I'm making a note of that rule.

Sub: #4 posted on Fri, 08/17/2012 - 08:16

OhioGal1 OhioGal1
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