I got a graduate degree used part of my student loan to try and save a failed business...
I consolidated my loans into a private company, College Loan Corp; can then go for the Income Contingent Repayment Plan with this one company I consolidated with?
If I declare bankruptcy do I face my private consolidation company in court or the US Government?
2006-11-05 14:33:57 · 7 answers · asked by Nero Wolfe 2 in Education & Reference ➔ Financial Aid
you be clear in 5 years if you ddon't spend $2000 a year
2006-11-05 14:38:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can go on the Income Contingent Repayment plan. You will have to submit forms proving the amount of income you are receiving. With consolidation they should have set you up for a plan that will take years to pay back. If you're considering bankruptcy and other drastic measure, simply call you lender. They CAN help you! It's their job. You can go into forbearance or deferment. There are solutions to not screw you over but you have to take that big step and actually call you lender and tell them of the situation. They can't help if they do not know the problem. This is a common situation they have delt with before and I'm sure would be more than happy to assist you!
Please email me if you have any more questions! tory@toryforpresident.com
2006-11-07 04:16:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i might renowned it somewhat isn't the marvelous factor to do. yet approximately 60% as of now are defaulting on student loan. Delinquency is all time intense. i'm antisocial too. as a results of extremely intense default value, the charges of activity on people who're able to pay student ought to be raised so as that it "covers" for people who do no longer pay. In hard economic equipment, hard selections would desire to be made. student loan bubble burst is around the corner and it ought to deliver approximately a sparkling recession the way all human beings is defaulting ideal and left. people who make student loan value in the present day would be preyed upon the way a tiger preys on deer -- they are going to be milked and creamed actual stable and that's the entire thought in the back of it. This difficulty would be avoided if all human beings who graduates is able to pay returned the loan -- and that's no longer possibly occurring because of the fact jobs are not there. At this element there's a million trillion student loan debt - extra suitable than mastercard debt. 750 billion of it has long gone into purple ink -- i.e. no longer being paid. i comprehend many liberals have been saying job marketplace is convalescing however the student loan pay returned archives is horribly awful. Delinquency is only checklist intense. So i'm at a loss myself to comprehend what precisely is convalescing
2016-10-21 08:17:03 · answer #3 · answered by ? 4 · 0⤊ 0⤋
you can not file bankruptcy on a student loan PERIOD. You still have to pay it back..They also have repayment plans like interest only and underemployed (if you are only working PT ). They also have economic hardship. It lowers your payment but prolongs it
2006-11-05 14:47:47 · answer #4 · answered by chilover 7 · 2⤊ 0⤋
Take out a loan.
2006-11-05 14:47:14 · answer #5 · answered by astellarheart 2 · 0⤊ 0⤋
get a job that pays more or get two jobs
2006-11-05 16:12:26 · answer #6 · answered by sunshine23511 5 · 0⤊ 0⤋
you are scaring me!
2006-11-05 14:41:45 · answer #7 · answered by the_ron 1 · 0⤊ 0⤋