I have more than one loan and I deferred one set of loans, but didn't realize that it wasn't all of them and now I don't know what to do. I would have qualified for hardship deferment, I'm in the process of filing bankruptcy (I know student loans can't go in) and garnishmentment which I'm not making enough to survive on right now (hence filing bankruptcy). I depend on my tax return every year to pay back family and friends I borrow from to make ends meet and car repair or emergencies that come up. I just wonder what I can do and I won't be talking to my bankruptcy lawyer for awhile. Any advice or experience stories would help.
2007-08-28 11:26:53 · 5 answers · asked by Nik 4 in Education & Reference ➔ Financial Aid
yes, go here
http://loanconsolidation.ed.gov/
you can consolidate your loans directly threw the Dept of Ed. they can put you on hardship repayment plan, i think thats what its called, and you will not have to pay right now, dont consolidate threw private companies, as they add in their fee, they want money sent in now before they process it, and they will even try to act like the Dept of Ed, or tell you they have your loans etc,
i did this a couple of years ago, and it worked out great for me, i havent made a payment yet,
2007-08-28 14:11:52 · answer #1 · answered by dlin333 7 · 0⤊ 0⤋
If you haven't done so yet, consolidate all loans and that will buy you some time. Then you could defer on one lump sum instead of trying to keep track of all of them.
Or you just need to contact the company that has your defaulted loan and let them know what is going on. They may be able to help you with your deferment. Communication will go a long way.
If you are in default when you get your tax return, they will take your return. Trust me.
2007-08-28 18:35:44 · answer #2 · answered by taizy77 2 · 0⤊ 0⤋
You know what you should do is go to your bank and get a consolidated loan as fast as you can and just pay off that student loan, because even if you do keep current with your payments they are going to keep selling your loan to lending agencies who in return will charge you all kinds of fees. and they will make it to where you will never pay that loan off. My loan started off @ $2,300.00 after about 10 years of putting up with their crap it went up to $12,750.00 and it should have been paid off.
2007-08-28 18:37:20 · answer #3 · answered by Whoooa Mule 3 · 0⤊ 0⤋
Try calling and pleading your case to the lenders. See what they can do. Maybe they can defer those too.
What did you major in in college that isn't paying well now?
My daughter needs a BS degree for a career that pays poorly. Worries me to death.
2007-08-28 18:32:00 · answer #4 · answered by Crunchy Sweet 4 · 0⤊ 0⤋
i got ripped off by one school.
they didnt return all my school loan i had
applied for so i was charged the whole amount
i didnt pay it.. for like 15 years i got hassled to pay it..
and finally i was told i could ask for a ,,
not sure what it was called...
a forgiveness form..
filled it out, told my story and was forgiven..
and didnt have to pay it..
2007-08-28 18:36:20 · answer #5 · answered by pokerfaces55 5 · 0⤊ 0⤋