aneesha33
05-27-2010, 06:01:56 PM
Okay I really need factual advice (not what i should have done).
Situation- From the time I finished school I have defferred and forbarranced my student loan. Back in 2007 I forgot to do the necessary paper work and my student loan went to the collection dept. They put me in a recovery program. I paid 515.00 for 9 months and then my loan was to go back to the creditor. Well after that time my husband I had got back together and I moved back to Florida (after living in NC for 10 months). I never heard from them. (i know i should have gotten in contact but i didnt)...
So now the recovery program people are calling me again saying that i can get back into program but I need to pay 520 a month. I tried to explain that I just cant afford that right now. If I had to pay that that will take care of all our extra money we have a month. PLUS I hate to start payiing anything extra right now because come June 23rd we will be a one income family until Sept 1st.
The woman i was speaking with says that some people just pay 25.00 as a good faith and then I could start payiing that in Sept. WELL, the manager gets on the phone and says NO CAN DO because my interest is compounding daily and my balance is high. (YES I know I will die with that payment). The manager also says that they can garnish my wages and take my income tax funds and such to pay my student loans.
So has anyone been in this situation. How long do I have before they start just taking my money? I really do want to pay monthly but just dont want to start something i know i wont be able to keep up with. yes i can pay june but july and august I wont. Ugggh! In September there will be an extra 400 in our budget because my oldest DD will be starting K and I wont have to pay daycare for her.
Does anyone have advice on this issue???
Situation- From the time I finished school I have defferred and forbarranced my student loan. Back in 2007 I forgot to do the necessary paper work and my student loan went to the collection dept. They put me in a recovery program. I paid 515.00 for 9 months and then my loan was to go back to the creditor. Well after that time my husband I had got back together and I moved back to Florida (after living in NC for 10 months). I never heard from them. (i know i should have gotten in contact but i didnt)...
So now the recovery program people are calling me again saying that i can get back into program but I need to pay 520 a month. I tried to explain that I just cant afford that right now. If I had to pay that that will take care of all our extra money we have a month. PLUS I hate to start payiing anything extra right now because come June 23rd we will be a one income family until Sept 1st.
The woman i was speaking with says that some people just pay 25.00 as a good faith and then I could start payiing that in Sept. WELL, the manager gets on the phone and says NO CAN DO because my interest is compounding daily and my balance is high. (YES I know I will die with that payment). The manager also says that they can garnish my wages and take my income tax funds and such to pay my student loans.
So has anyone been in this situation. How long do I have before they start just taking my money? I really do want to pay monthly but just dont want to start something i know i wont be able to keep up with. yes i can pay june but july and august I wont. Ugggh! In September there will be an extra 400 in our budget because my oldest DD will be starting K and I wont have to pay daycare for her.
Does anyone have advice on this issue???