I owe the Dept. of Education $3,700 from a student loan. I keep getting the calls from Allied Interstate regarding paying the loan, etc. They don't seem to understand that right now I have no income coming in since I just moved back from abroad to the USA with my wife and daughter and we are staying with my mother in her home. I am actively seeking a job and have had several interviews. Allied Interstate wants me to go work at McDonalds to pay. My wife gets about 100 dollars a week for us to buy food with, baby stuff, etc. I want to pay this debt off, but of course I cannot at the moment. If I were to offer to pay $20 dollars a month until I find employment and start paying a larger chunk...would they accept this? They have already threatened to garnish my wages as soon as my W-2 goes through from an employer and that it is going to litigation.
2007-02-07 13:05:41 · 5 answers · asked by Cali Dude 4 in Business & Finance ➔ Personal Finance
if you're getting collection calls your credit probably isn't too good. tell them you're in a financial crunch and they can either get some money, or no money. see if they'll accept a smaller amount, or if they can make some kind of payment arrangement.
2007-02-07 13:15:55 · answer #1 · answered by Nicky 2 · 0⤊ 0⤋
I had a student loan for $ 8, 432 dollars. I received many harassing calls and letters from a collection agency threatening wage garnishment and legal actions. I asked them if I could make contact with the loan company and they said absolutely not. I contacted the company, they stated that I could apply for a forbearance on my account (this delays your payment) or deferment (not an option if your account has been in collection). I had to pay $ 192.90 for my first payment then forbearance was granted to me now I pay $ 96.00 a month or more depending if I have it. The interest is a killer but at least no one is threatening you. BTW I got the forbearance.
2007-02-07 16:25:47 · answer #2 · answered by dreamyfairy 6 · 0⤊ 0⤋
they are all a bunch of pushy rude people. they say that they will not accept the $20 a month but they have no choice. They will take your tax refund, however. Just call the number and call and call till you get a person on there that understands. The more cooperative you are the nicer they will be. I swear it all depends on who you get on the phone so just call and call till you get a nice person. I have mine now where they only take $63 out of my bank account automatically every month. if they can auto take money out it makes them feel better but make sure its an amount you can afford. good luck.
2007-02-07 13:11:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
good luck. I had to deal with the nastiest bastard ever. I finally called back and worked out a deal with someone else. They do like to 'auto withdraw' from your account. God bless, it will work out. My family and I were in similar dire straights, and it's finally turning around. It will happen. Keep the faith. Give your wife a hug.
2007-02-07 13:16:59 · answer #4 · answered by momof2 3 · 0⤊ 0⤋
i don't think they can really force you to pay something with money that you don't have. if you are able to pay $20 a month, at least that is something. but you should be able to get a deferrment or something if you are in a tight spot with finances. just keep pushing to see exactly what your options are.
2007-02-07 13:15:42 · answer #5 · answered by blyng1225 3 · 0⤊ 0⤋