I Went to National Business College and Now ACS is Collecting on My Student Loan. – Beth

“Dear Steve,

I went to National Business College for 2 years. At that time I was a single mom (21), and thought that was the best thing for me and my son. I now deal with ACS. They worked with me on lowering my payment each month, but now I still can’t afford it. ($245). I make $10.00/hour, and of course I can’t find a job for what I went to scholl for. Now I’m married, and just purchased a home, and 3 months late on my payments. What can i do? My husband and I are up to our ears in debt, and we have seperate checking accounts. I pay my bills, he pays his. The IBR said I don’t qualify because we make too much. Yeah right!

What can I do? Seems there’s no end in sight.


Dear Beth,

It sounds like you’ve tried to work out a suitable repayment arrangement but that is not possible. The logical path at this point is to file bankruptcy on your other debt and make room for the student loan payment.

Student loans are nothing to mess around with. They sit there and build interest, late fees and penalties and can garnish your wages without going to court or intercept your future tax returns.

You can click here to find a local bankruptcy attorney and if you’d like a second opinion about your situation or a personal consultation by another debt coach, please feel free to contact Damon Day.

Please post your responses and follow-up messages to me on this in the comments section below.


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.

Do you have a question you'd like to ask me for free? Go ahead and click here.
Damon Day - Pro Debt Coach

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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.
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