My Student Loan Debt Has Doubled And I’m Worried


Dear Steve,

I have a student loan that has more than doubled in size, from 45,000.00 to now 98,000.00. My dad and I have tried to pay this off 3 times with no luck. I am in default on this loan and would be happy to pay a portion of this loan. I am not sure what to do now.

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Also, what can this creditor do as far as taking wages, which aren’t much, freeze assets or trust. I own a house and have some money in a trust from my parents. I am really worried about being taken by surprise and ending up with nothing. Can they do that, take everything. Thanks so much for your help, I need it. debby

Do I need to get a lawyer? What can this creditor do in this situation? thanks again



Dear Debby,

Can you provide a response in the comments section below if this is federal or private student loan debt.

Damon Day - Pro Debt Coach

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