Subscribe to our mailing list

X

What Can I Do About My Student Loans? – M

By on October 25, 2010
What Can I Do About My Student Loans? – M

My student loan debts were accrued sometime in 1993 when I deferred. I had consolidated all my loans by then. Due to inability to find a job, I defaulted. In or about 2003, I was able to gather some certain about $70,000 which I wanted to use to pay off my debt. I think my student loans were around in the ballpark of 130K, but Sallie mae and their agents settled all the debts and returned my documents. A year plus later, I got a call from the government that I owed them about 100K based on a $30K that was transferred by Sallie Mae. The accounting was wrong and insofar as I can see, the government has no documents substantiating their claims for $100K. I am embroiled in a lawsuit which I filed b/c I got sick and tired of being railroaded and noone was accountable.

My debts unfortunately fell after bankruptcy changed its law. And right now, I have no options. Do you know what available remedies that is available? I offered to pay about $30K the principle that they claim, but not the $70K which they claim are interests and fees.
They don’t have documents other than some internal ledgers and I would rather settle this and move onward but $100K seems ridiculous based on what I have seen.

Do you know if the government will pass any measures that will give student borrower like myself the ability to settle, and the ability to have forgiveness ?

This type of law and policies are changing, but it seems better on paper and being that I am in an odd situation, I’d like to know. I raised this issue to AG Cuomo, and his office has rejected it b/c realisitically, why would his office investigate his own state agency?

M

This reader question was submitted for site members to answer.

This is your chance to be a hero and help out this person by providing your feedback and answer to the question. Post your response in the comments section below.

If you have a credit or debt question you’d like to ask just use the online form.


Last step, fill out the information below or call us for Priority Assistance.

What problems are you having with your report?

Your first name is required. Your first name is required to be at least 2 characters. Your first name cannot be longer than 50 characters.
Your last name is required. Your last name is required to be at least 2 characters. Your last name cannot be longer than 50 characters.
Your email is required.
Your phone is required. Your 10 digit phone number is required.
Your state is required.
Your age is required. Your age must be greater than 18. Your age must be less than 100.

By clicking on the "Contact Me" button above, you consent, acknowledge, and agree to the following: Our Terms of Use and Privacy Policy and to receive electronic communications. We take your privacy seriously. That you are providing express "written" consent for Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS - charges may apply), even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list. Consent is not required as a condition to utilize Debt.com services and you are under no obligation to purchase anything.

By clicking on the “Contact me” button above, you consent, acknowledge, and agree to the following: (1)That you are providing express “written” consent for Lexington Law Firm, Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS – charges may apply), or dialed manually, at my residential or cellular number, even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list; and (2)Lexington Law’s Privacy Policy and Terms of Use and Debt.com’s Terms of Use and Privacy Policy. Consent is not required as a condition to utilize Lexington Law or Debt.com services and you are under no obligation to purchase anything.

About Steve Rhode

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.

Share a Comment / Leave a Reply

%d bloggers like this: