I am 51. Was fired from my job of 15 years because of State budget issues. It was financially easier for the former employer to fire than to lay off. I have student loans (defaulted) (Federal & private) I have not been able to pay anything on because I have had to literally start over. I make $9.90/hr. As the cash register keeps adding fees & my loans are bought and sold like stocks, I don’t know what to do to recover from this.
I need help but don’t know if bankruptcy will help ( since I make next to nothing. Work 5 jobs and don’t retire? Give up on seeing a refund check ever again? I don’t know what to do, where to start or what to consider.
On your federal student loans, those need to be consolidated into a new Direct Loan and opt for an income-driven repayment plan to get you the lowest payment possible. Might be as low as $0 per month. You can click here for more information on consolidating.
On the private student loans, read Top 10 Reasons You Should Stop Paying Your Unaffordable Private Student Loan.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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