|
RemainRandom50
Do You Need ToKnow Me?
Registered: 01/15/06
Posts: 1,695
Last seen: 14 years, 10 months
|
no pay back of student loan questions....
#9180979 - 11/04/08 01:48 AM (15 years, 3 months ago) |
|
|
so my friend finally decided to come clean tonight because shes in a rut.
it turns out due to her lack of making enough to live + pay her roughly $500-600 a month student loan for 10 years...she decided 4 years ago to just stop paying...so the bills came in the mail, the calls were made constantly asking for the money, and the debts were turned over to collection agencies, yet she ignored it all.
She is aware her credit is to SHIT because of this but she said that when she last spoke to them they could not make it any lower than that and she just couldnt afford it.
A collection agency just recently has called her this week and has left her messages stating "please call back or have your attorney call us before we make a final decision this weekend on how to handle this situation". I am telling her to call and just face whatever it is, i mean shit your not going to jail.
She is SUPER paranoid as to what is going to happen to her, because she can still not afford that rate along with her rent, utilities, current bills, etc.
What is your opinion as to what they are going to ask or do to her? Shes just so scared and im trying to calm her down and just call.
I know they garnish wages and they will also take your income tax to make up for it. She is afraid there going to send her to jail, take her car or other personal assets, or try to make her pay it in full even though she has no way of doing so.
Any input on whats to possibly come, so i can put her to ease?
-------------------- At times I get consumed by my everyday life and will leave the Shroomery. Yet, every time drugs come falling into my life for fun.....I always think about the Shroomery and then I'm back!
|
Coaster
Baʿal



Registered: 05/22/06
Posts: 33,501
Loc: Deep in the Valley
Last seen: 12 years, 4 months
|
Re: no pay back of student loan questions.... [Re: RemainRandom50]
#9180983 - 11/04/08 01:49 AM (15 years, 3 months ago) |
|
|
iono man good luck it sux ppl have2 go thru this
--------------------
|
Newbie
User of semicolons.



Registered: 07/18/04
Posts: 24,711
Loc: SoCal
Last seen: 11 hours, 52 minutes
|
Re: no pay back of student loan questions.... [Re: RemainRandom50]
#9181006 - 11/04/08 02:00 AM (15 years, 3 months ago) |
|
|
I would also like to know the answer to this question. I'm in such a financial rut over this shit, I haven't paid in over 2 months and just ignore the phone calls. I haven't received any legal threats yet but I can't ignore them forever.
|
Prisoner#1
Even Dumber ThanAdvertized!


Registered: 01/22/03
Posts: 193,665
Loc: Pvt. Pubfag NutSuck
|
Re: no pay back of student loan questions.... [Re: RemainRandom50]
#9181019 - 11/04/08 02:08 AM (15 years, 3 months ago) |
|
|
the collection agency cant do shit, it can just be stuck on her credit, and while it cant be removed they certainly cant jail her for it, have her tell them that she's will to make payments but there's no way she can at the rates they're asking now and unless they're willing to accept what ever she can afford they simply wont get anything
they'll try and pressure her and all kinds f other shit, all sorts of threats, tell her to ignore them, it's also a good idea to buy a phone recorder and record any communications, judges dont like creditors making threats
it's a good idea to know the laws in your state regarding taping of conversations, if it's permissible, do it
http://www.rcfp.org/taping/
|
Newbie
User of semicolons.



Registered: 07/18/04
Posts: 24,711
Loc: SoCal
Last seen: 11 hours, 52 minutes
|
Re: no pay back of student loan questions.... [Re: Prisoner#1]
#9181025 - 11/04/08 02:11 AM (15 years, 3 months ago) |
|
|
Aren't student loan debts a lot different than credit card debts? I didn't think the same rules applied.
|
Prisoner#1
Even Dumber ThanAdvertized!


Registered: 01/22/03
Posts: 193,665
Loc: Pvt. Pubfag NutSuck
|
Re: no pay back of student loan questions.... [Re: Newbie]
#9181029 - 11/04/08 02:13 AM (15 years, 3 months ago) |
|
|
there is no debtors prisons, it will not come off your credit unless it's payed back, they cannot put liens against your assets on student loans, with credit cards after 7 years it drops, that's the only difference
|
Madtowntripper
Sun-Beams out of Cucumbers



Registered: 03/06/03
Posts: 21,287
Loc: The Ocean of Notions
Last seen: 6 months, 17 days
|
Re: no pay back of student loan questions.... [Re: Prisoner#1]
#9181211 - 11/04/08 05:50 AM (15 years, 3 months ago) |
|
|
She should have taken care of it before.
It's pretty easy to get extra deferrals for student loans. I have one of mine still in deferral even though I've been graduated a year because it's just not going to get paid right now.
But letting it go this long? She's probably fucked. And I hope she doesn't ever want another student loan. Defaulting looks pretty bad...
-------------------- After one comes, through contact with it's administrators, no longer to cherish greatly the law as a remedy in abuses, then the bottle becomes a sovereign means of direct action. If you cannot throw it at least you can always drink out of it. - Ernest Hemingway If it is life that you feel you are missing I can tell you where to find it. In the law courts, in business, in government. There is nothing occurring in the streets. Nothing but a dumbshow composed of the helpless and the impotent. -Cormac MacCarthy He who learns must suffer. And even in our sleep pain that cannot forget falls drop by drop upon the heart, and in our own despair, against our will, comes wisdom to us by the awful grace of God. - Aeschylus
|
Kada
Asha'man


Registered: 02/15/05
Posts: 12,394
Loc: Buckeye
Last seen: 7 days, 21 hours
|
Re: no pay back of student loan questions.... [Re: Madtowntripper]
#9181239 - 11/04/08 06:10 AM (15 years, 3 months ago) |
|
|
I know people that havn't paid on their student loans in over a decade or more. They keep getting it deffered, or they just ignore the shit out of them. It's not hard to shut off the phone and get a different number that is unlisted. The worst they can do is ruin her credit.
-------------------- ~The Cultivators Motherload~ "I am free, no matter what rules surround me. If I find them tolerable, I tolerate them; if I find them too obnoxious, I break them. I am free because I know that I alone am morally responsible for everything I do." -Robert A. Heinlein "There is no need for temples, no need for complicated philosophies. My brain and my heart are my temples; my philosophy is kindness."-Dalai Lama Live long and prosper.
|
truekimbo2
Cya later, friends.



Registered: 12/08/02
Posts: 9,234
Loc: ny
|
Re: no pay back of student loan questions.... [Re: Madtowntripper]
#9181242 - 11/04/08 06:12 AM (15 years, 3 months ago) |
|
|
i do exactly what she did for every single bill that arrives in the mail. it works awesome, and then you move and the letters stop coming.
-------------------- You can check the last post in my journal for contact info.
|
Brainiac
Rogue Scientist



Registered: 04/29/06
Posts: 13,259
Loc: 與您的女朋
|
Re: no pay back of student loan questions.... [Re: RemainRandom50]
#9181285 - 11/04/08 06:37 AM (15 years, 3 months ago) |
|
|
--------------------
Fair is Fair
|
|