Student Loans defaulted?

Answers:1   |   LastUpdateAt:2012-08-30 17:02:04  

Question
Colin
Asked at 2012-08-29 23:12:13
My student loans have defaulted. He urged me to max out loans while in school because payments would be smaller and affordable in this profession I would be doing a lot of money . MedlinePlus I'm working on the field at all. I never finished it . My default is over $ 90k . MedlinePlus I am a single mother without receiving alimony. There is no way I can pay that kind of money , even if I paid the rest of my life . MedlinePlus Collectors call four times a day . MedlinePlus MedlinePlus What I can do? I know I can not bk in a federally subsidized loan . I understand that I will never be able to buy a house because of this. MedlinePlus MedlinePlus What advice would you give ?
Answer1chemayaAnswered at 2012-08-30 17:02:04
I used to work for a company that advised people in paying their student loans. MedlinePlus MedlinePlus First, if you have not consolidated your student loans , you would now . Having to make a single payment to help much . You should also fix your interest rate , so do not worry about that. MedlinePlus MedlinePlus Secondly, I would like to call your loan provider , or when they call , I ask them to put him to a deferment or forbearance . A deferment allows you to postpone your payments during difficult situations . If you talk through your problem , you should be able to tell you what you qualify . During the deferral period which usually lasts 1-2 years, can stop paying while non-interest bearing . You can also request another delay when the former ceases if your situation has not changed . MedlinePlus MedlinePlus If you do not qualify for a deferment , forbearance would be your next option . This allows you to defer payments without any qualification . However , interest will accrue as usual . You can always lower your monthly payments also patiently . This can also be expanded . MedlinePlus MedlinePlus The deferment or forbearance collectors stop calling. MedlinePlus MedlinePlus Also, keep in mind that even though you can not pay your student loans before he died , that the debt can not be passed to their children or other family members , unless someone co ​​- signed by you . MedlinePlus MedlinePlus Good Luck . :-)
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