fbpx

My Student Loan Debt Has Doubled And I’m Worried

Question:

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.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

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

Debby

Answer:

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

Follow Me
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
Follow Me
See also  How to Manage Student Loan Debt

Comments are closed.