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I have about 48,000 in signature loans from sallie mae. They have limited repayment options, and my forebearance limits are about to be reached, roughly 21 months in total available time, without going to school at least half time again. The last loan was taken in 2001. Once they come off forbearance in June, they will want over 1,000 dollars to get in line, and they want 380 per month after that. I can’t pay this, don’ t they have ICR plans? I have over 120k in fed loans, but they have plenty of forebearance left, with the option of a Ford direct loan and ICR. Guess I’ll just have to let the private loans go, after all, they can’t have their cake and eat it too….but who am I kidding, they do! In addition, I’m between 40 and 50 years of age, with no assest, no home etc…and have never had a start in life. Please save the comments about quite smoking or drinkin, or why did you borrow them, etc…what done is done, and it was done with good intentions, albeit alltruistic ones.
I meant to say that I don’t smoke or drink, or do anything extraneous., in response to Rocky F. Can they garnish wages if you don’t have any one single job? I have as many 10 different jobs in a year, or do they just see the SS # and attach it, unless your getting paid off the books.
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Tags: 21 Months, Assest, Direct Loan, Forbearance, Ford, Garnish Wages, Good Intentions, Half Time, Job, Jobs, Limited, Private Loans, Private Student Loans, Repayment Options, Rocky, Sallie Mae, Signature Loans, Ss
September 9th, 2008 at 11:36 pm
you can always get student loans consolidated like how you would credit cards. Then the banks lowers interest rates and makes monthly payments cheaper! I would suggest you look into that! It could help!
September 13th, 2008 at 4:20 am
I’m sorry. What was your question?
September 16th, 2008 at 8:13 am
Wow! Sorry but u r in financial shambles. Unless u get a high paying job u r going to die in debt! Good intentions or not u owe wat u owe! Unless u get a high paying job 90k+ u will be working until you are 80 to get out of debt! The loan companies can do watever is in their legal power to do! they r ruthless! U can look forward to getting your wages garnished after a court judgement! Any income tax return u get is going to them!
It’s funny how u mention smoking and drinking. Just from u saying that I am going to assume u need to go to AA and clean yourself up! Sorry dude ur screwed i hate to tell u but there is pretty much no way out for a person of your age and education level in that much debt! Bankruptsy won’t do a thing for student loans either! U are ruined! Damn i feel bad for u! =P not really u should have known better!
It doesn’t matter how many jobs u have. They have to get a court judgement to have your wages garnished though. After the judgement they will get ur social and hunt u down! U will know if it happens because u will have to be present at the ruling though. u will get a summons u have to be present! U better come though or else the judge will rule on default! These people have your social too so they will get ur wages garnished!
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