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have one $9,000 loan with salle mae causing me a headache, try and find a way to settle or what?

Date: Tue, 09/25/2012 - 11:17
Submitted by on Tue, 09/25/2012 - 11:17
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I have 40,000 dollars in student loans which isnt to bad, i have one 9,000 private smart option student loan i took out with sallie mae before i gradauted. I make 700 dollars a month roughly and salle mae wants me to pay the 204.00 dollars a month for this one loan. With all my other REASONABLE loan payments and bills i have been paying them at least 50 dollars a month to show that i am trying. Well that isnt good enough for them apparently and i will be going into defualt with them soon which will lead me to go into a CA agency. I am wondering if i call to speak to the debt recovery department if they will offer me any options like settling for less than the amoung owed. i cannot get a personal loan for the 9,000 i took out the payments would still be the same so i am wondering if i have a chance of getting a settlement offer for less. Any tips or suggestions on what i should do?


How are going to come up with the money to settle?? If you default they may agree to take some off but then you will have 10 days to pay the settlement.

Private loans do not have to offer you payments you can afford....they are very different from federal loans. Best thing you can do is increase you income asap..work a 2 job although it sounds like you are only working part time right now.


Submitted by SOAPLADY on Tue, 09/25/2012 - 11:28

SOAPLADY

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i have family memeber that will cosign for personal loan for smaller amount then the original owed plus it it was the 9000 the payment would be same and thats not helpful. I am working part time but continueously work, we do not have a booming jobs where i currently live. A cashier job was all i could get and thats making 9.40 but only 25 hrs a week for five days.


Submitted by on Tue, 09/25/2012 - 11:36

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