Topic RSS 4:24 am
January 14, 2010
OfflineGeorge,
I understand it feels like a difficult time, and from what you have stated bankruptcy does seem like a strong option for you.
While bankruptcy will relieve you of many of the debts, student loans cannot be included, so something will need to be worked out for them outside of the bankruptcy.
Or possibly not.
If you cannot afford to repay the student loans and do not qualify for any of the programs out there to assist people in repaying them, deferments, forbearance, forgiveness, etc, then all you can do is concentrate on the basics of living and pay your priority bills, rent, food, insurances, etc.
You may want to explore what other VA benefits are available to you and speak to someone at the VA for counselling on this matter.
As to losing 25% of your Social Security, having 75% of it is better than not having any of it at all.
Let me know what you decide and also the outcome of speaking to the VA.
Jon
1:52 pm
64 years old, $104,000 in student loans has inflated by mobster practices to $1.75 million, cannot be licensed in my field due to the loans, collectors will take 25% of my SS if I claim SS, I'm hopeless, suicidal, dragging my family down, and scared half to death. My dad is 89 and still driving..what am I going to do if I live another 25 years? I've tried with vigor to engage in public service counseling PTSD Vets, but have been turned away everywhere because of my age. I even volunteered to enlist in the military to do it..too old. I have a part time job that buys food and VA health care or I'd be homeless and very ill. I cannot own anything; the collectors will seize it, likewise, I cannot even have a checking account for the same reason.
What relief is there? What hope for my life? I try to live altruistically, but I am not wanted because of my age. Standard consumer rights (bankruptcy) certainly sounds fair to me, but there is little hope that mercy will win over greed. Can you help?
George
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