Hi all. I am new here and really appreciated being able to read all your posts (so far I have gone back 6 pages and will read more). I have a question about what about how to proceed that I am hoping you all might be able to help me with...
Due to a lawsuit with the school I attended my lawyer advised not to pay on my student loan until the case resolved. After 8 years I won! (The school really dragged this out not me). When the case ended I contacted the CA that at that point had my loans. I filled out paperwork out the wazoo to start a payment plan. I never heard back. I called for three months without a return call (I did so on my cell phone & kept the itemized bills to show I phoned). I finally gave up. A few years later my tax return was kept- fine with me as I had wanted to be on a payment plan all that time. A few years later I was no longer employed (after the birth of my first child). Having been the primary wage earner our financial situation was difficult to say the least. Currently we are doing better (we no longer need state sponsored healthcare though we do qualify for other programs such as subsidized childcare (for which we are on a waiting list) and assistance to pay heat/other utilities .) My husband works 6O hours a week full time. As childcare is too expensive and I am a nursing mom my hours are limited to when my husband is home. I work part time. I would really like to pay on this loan but have no idea what to expect (or how to find where they are to pay). I know we could not afford $50 a month. We barely are able to pay our bills now. We have no credit card debt; we do not eat out (we grow our own veggies all spring/summer and can/freeze for the winter; make our own yogurt, don't eat meat,etc to cut back on grocery bills), or go our at all; we don't shop for anything we can make ourselves; we cloth diaper; we have no car; etc. Essentially we have our budget at the bare bones minimum. I have crunched the numbers a million times and we can't afford much. Our financial situation is unlikely to change for 5 years (when the baby can start school and I can pick up more part time hours). I would like to set up some sort of payment now but really worry we will not be able to pay the amount they require. What can I expect once I find where to call? Any advice on what I should do? I don't want to not pay what I owe!
Thanks in advance for any thoughts
Full Version: What can I expect?
QUOTE(mommy to itty bitties @ Mar 24 2006, 07:43 AM) 
Hi all. I am new here and really appreciated being able to read all your posts (so far I have gone back 6 pages and will read more). I have a question about what about how to proceed that I am hoping you all might be able to help me with...
Due to a lawsuit with the school I attended my lawyer advised not to pay on my student loan until the case resolved. After 8 years I won! (The school really dragged this out not me). When the case ended I contacted the CA that at that point had my loans. I filled out paperwork out the wazoo to start a payment plan. I never heard back. I called for three months without a return call (I did so on my cell phone & kept the itemized bills to show I phoned). I finally gave up. A few years later my tax return was kept- fine with me as I had wanted to be on a payment plan all that time. A few years later I was no longer employed (after the birth of my first child). Having been the primary wage earner our financial situation was difficult to say the least. Currently we are doing better (we no longer need state sponsored healthcare though we do qualify for other programs such as subsidized childcare (for which we are on a waiting list) and assistance to pay heat/other utilities .) My husband works 6O hours a week full time. As childcare is too expensive and I am a nursing mom my hours are limited to when my husband is home. I work part time. I would really like to pay on this loan but have no idea what to expect (or how to find where they are to pay). I know we could not afford $50 a month. We barely are able to pay our bills now. We have no credit card debt; we do not eat out (we grow our own veggies all spring/summer and can/freeze for the winter; make our own yogurt, don't eat meat,etc to cut back on grocery bills), or go our at all; we don't shop for anything we can make ourselves; we cloth diaper; we have no car; etc. Essentially we have our budget at the bare bones minimum. I have crunched the numbers a million times and we can't afford much. Our financial situation is unlikely to change for 5 years (when the baby can start school and I can pick up more part time hours). I would like to set up some sort of payment now but really worry we will not be able to pay the amount they require. What can I expect once I find where to call? Any advice on what I should do? I don't want to not pay what I owe!
Thanks in advance for any thoughts
Due to a lawsuit with the school I attended my lawyer advised not to pay on my student loan until the case resolved. After 8 years I won! (The school really dragged this out not me). When the case ended I contacted the CA that at that point had my loans. I filled out paperwork out the wazoo to start a payment plan. I never heard back. I called for three months without a return call (I did so on my cell phone & kept the itemized bills to show I phoned). I finally gave up. A few years later my tax return was kept- fine with me as I had wanted to be on a payment plan all that time. A few years later I was no longer employed (after the birth of my first child). Having been the primary wage earner our financial situation was difficult to say the least. Currently we are doing better (we no longer need state sponsored healthcare though we do qualify for other programs such as subsidized childcare (for which we are on a waiting list) and assistance to pay heat/other utilities .) My husband works 6O hours a week full time. As childcare is too expensive and I am a nursing mom my hours are limited to when my husband is home. I work part time. I would really like to pay on this loan but have no idea what to expect (or how to find where they are to pay). I know we could not afford $50 a month. We barely are able to pay our bills now. We have no credit card debt; we do not eat out (we grow our own veggies all spring/summer and can/freeze for the winter; make our own yogurt, don't eat meat,etc to cut back on grocery bills), or go our at all; we don't shop for anything we can make ourselves; we cloth diaper; we have no car; etc. Essentially we have our budget at the bare bones minimum. I have crunched the numbers a million times and we can't afford much. Our financial situation is unlikely to change for 5 years (when the baby can start school and I can pick up more part time hours). I would like to set up some sort of payment now but really worry we will not be able to pay the amount they require. What can I expect once I find where to call? Any advice on what I should do? I don't want to not pay what I owe!
Thanks in advance for any thoughts
Well for starters, your attorney gave you the worst possible advise possible to not pay your loans. Did you at least maintain your deferments?? Were you in contact with your lender?? The best analogy I can come up with is comparing a student loan to buying a car. You buy a car from a dealership and you take a loan out from the local bank. The car turns out to be a dud, is unusable. However you still owe the bank...they dont care if the car doesnt work. You still owe them.
How much do you owe?? Who is collecting it??
You also said you "won" you lawsuit. Did that provide money to pay back your loans and did you do so???
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.