Hello my name is Brittany and I have a private loan from my old school that amounts to 22,152.62. I’m currently in school at the moment my father co-signed on the loan. I kept putting the loan off until I recieved a call from them stating that I needed to pay something or negotiate something or my father assets will be taken away.
Pretty much there going to sue me.So I’m scared because I dont have the money right now. He said the only way he could process my forbearance letter is if I pay 348.00, which right now I dont have.This is the statement:
Original loan amount:19,951.00 Interest Rate:4.2500000% Days In Billing Period:31
Current Principal:$16,776.00 Interest Rate Paid YTD:$0.00 Past due amount:$518.18
Previous Balance:$22,064.00 Interest Accrued:$78.55 Current Balance:$179.50
Current Balance:$22,152.61 Fees due:$10.16 Total Amount Due:$697.68
I told him I would pay the 348.00 by Saturday, February 10th he said is the last day. But I dont want them to take my parents money or home. But I dont even know if Im going to have that kind of money by then.So what should I do?