2007-01-19 06:00:14 · 9 answers · asked by That Girl! 2 in Business & Finance ➔ Personal Finance
Did anyone who had any idea of what they were talking about answer this question? The answer is probably not. You can in some instances make an offer in compromise. The amount is probably not enough to justify them accepting such an offer. There are many different flexible repayment plans available for student loans. Call your lender and ask about your options. You will probably find they offer some kind of plan you'll find agreeable.
2007-01-20 11:01:07 · answer #1 · answered by Big R 6 · 0⤊ 0⤋
It might be not possible to negotiate down. For your example, you still have rooms for negotiation. The negotiation will be how you going to pay up the outstanding $3000 either in monthly or yearly installments with interest. I am talking in the bank or moneylender situation. If your lender is a close friend or not the ones that I have mentioned, it really depends on your luck or persuasion.
2007-01-19 06:33:37 · answer #2 · answered by Dang 3 · 0⤊ 0⤋
how's your credit score / history? besides this Discover card how is your standing in general? then minimum payment your making right now is burdensome, and the fact that you are losing hours at work puts you at a greater risk, and even if you did somehow continue making that big minimum payment in the future it's not worth it because your always payment a large some of money and most of it goes in interest.... i don't know how high your credit limit is on that credit card but whatever it is, your minimum is very high. now if your credit perfect besides the fact that you owe $8000, if you try to settle your account for less, you'll ruin your score, i'd suggest working out a more realistic payment plan. hope this helps. God bless.
2016-05-23 21:59:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I doubt you can do it with the government guaranteed student loans (GSL/Stafford loans).
After all, the government can always take your tax refund or garnish your wages rather than paying the bank to make up for the money you didn't pay them.
I'm sure there are different rules for non-guaranteed loans.
2007-01-19 07:29:33 · answer #4 · answered by Quixotic 3 · 0⤊ 0⤋
Absolutely. See if you can work with your bank or other lender too, that way you can reduce the interest on your outstanding debt and still be able to live comfortably.
2007-01-19 06:04:45 · answer #5 · answered by MarauderX 4 · 0⤊ 0⤋
this is a site i've used to help me lower my student loan. i really recommend it! just go there and fill out the form.
2007-01-19 07:46:12 · answer #6 · answered by TINY b 1 · 0⤊ 0⤋
yes.They rather have 5000 than nothing.
2007-01-19 06:03:38 · answer #7 · answered by chinadoll071512004 2 · 0⤊ 0⤋
if your bank or lending place will accept them.
2007-01-19 06:07:58 · answer #8 · answered by sknymnie 6 · 0⤊ 0⤋
No.
2007-01-19 10:48:53 · answer #9 · answered by Anonymous · 0⤊ 1⤋