What should I do?
Date: Mon, 08/27/2012 - 09:36
Hello,
I have had GC Services calling me about a student loan, twice a day for quite some time, leaving voicemails etc, and I never answer or call them back. The last payment I made on the loans was a very long time ago, 3+ years. I owe I think $60k or so. The loan(s) are/were through Sallie Mae. I cannot afford to make payments on the loans, unless it is very small amounts like 100-200 dollars a month. I am very afraid of wages being garnished, and frankly surprised it has not happened yet.
My mother just got some inheritance from her mothers passing, and used some of that to buy me a used car, which is in my name. Can this be taken away from me? Other than that I have no real possessions.
What are my options? What should I do?
I have had GC Services calling me about a student loan, twice a day for quite some time, leaving voicemails etc, and I never answer or call them back. The last payment I made on the loans was a very long time ago, 3+ years. I owe I think $60k or so. The loan(s) are/were through Sallie Mae. I cannot afford to make payments on the loans, unless it is very small amounts like 100-200 dollars a month. I am very afraid of wages being garnished, and frankly surprised it has not happened yet.
My mother just got some inheritance from her mothers passing, and used some of that to buy me a used car, which is in my name. Can this be taken away from me? Other than that I have no real possessions.
What are my options? What should I do?
Is this a private or federal loan?? Either way, what you are of
Is this a private or federal loan?? Either way, what you are offering does not even cover your interest. For a federal loan, your interest would be well over $300 per month..private loan more than likely higher than that. You need to communicate with GC services. If this is for a federal loan, they can garnish your wages without a court order. Read the stickies at the top of this forum for information on rehabilitation and consolidation.
And they do not want you car..they are not in the used car business.
