Question: Dear Steve, I took out a loan for college for $110,000 between 2006 and 2010. I have paid 30,000 to the principal and 40,000 to interest so far, which is sickening. My husband is in a situation where he can pay the remaining 87,000. I have never missed a payment. We tried to request … Read more
Question: Dear Steve, You don’t mention or get into detail on how to negotiate a settlement for private and federal student loans. I live in Pa. my loan is over 25yrs old, from 1989!! I haven’t paid on it in 24yrs. I have never been sued or had a wage garnishment, however I’m trying to … Read more
Question: Dear Steve, I have a student loan debt (30K) from 1983-1988. I consolidated in 2000 and now the total is almost $90K. What would be a reasonable offer-in-compromise? And, who would I be in touch with? These are federal loans. Thanks. What is considered a reasonable offer-in-compromise? Who decides this? Jonie Answer: Dear Jonie, … Read more
Question: Dear Steve, I co-signed a private student loan for my wife from Wells Fargo for about $19K. We starting paying back on this in Sept 2014. We’ve never missed a payment or been late. We pay $267 a month. Since that time we have paid almost $13K in payments but our principal is still … Read more
Question: Dear Steve, I have old consolidated Federal Student Loans that I have some money to pay off. Some money is subsidized and some is unsubsidized. The interest is enormous at $120k Will they negotiate down the interest for a payment in full? Is there an Attorney that can help with this? Do you have … Read more
Question: Dear Steve, I graduated from Pace University in 2008 with $104k in student loan debt. The majority of this debt was secured through Signature Student Loans ($87k) with Sallie Mae and then a small debt through Federal Direct Stafford Loans ($17k). I grew up in a single parent home, my mom barely making ends … Read more
Question: Hi Steve, My son has a large student loan that is not in payment stages, since he is still in school. The max 7 year deferment is fall of 2018. His father committed fraud and lied about family net worth. Son was told his dad would have no issue paying off debt, but couldn’t … Read more
Question: Dear Steve, I have a good bit of student loan debt and would like to get a mortgage, so I’m torn between down payment and settling loan debt. I have federal and private loans with Navient, around $129,000 worth, with IBR taking care of about $90k of the federal ($0 a month owed for … Read more
Question: Dear Steve, I have a private student loan (originally My Rich Uncle, now called Younomics) that I took in 2007 for $6,000. I never made a payment and the loan is now close to $20,000. I would like to settle as I don’t want to wait another three to four years for this to … Read more
Question: Dear Steve, I went to ITT Tech back in 2004 but never completed the course as I became disabled before completing the course. I have never made a payment on the loans and have good credit even with the defaulted loans listed on my credit. I have now been receiving letters from a company … Read more
Question: Dear Steve, My husband co-signed on our daughter’s private student loans. (We didn’t know they would be considered “private”…at the time). To the tune of $26,000. She is a single Mom with 3 teenagers and hasn’t been able to make payments ever. We paid on this loan for several years (didn’t realize it was … Read more
Question: Dear Steve, I went to college on and off forever, I accumulated a massive amount of debt. With interest a 104,000 dollars. Ive been great at paying them living a simple life…. I’ve currently knocked them down to 28k. So my question is I currently have private and department of Education loans. Is there … Read more
Question: Dear Steve, I currently have student loans in default with Navient. I received statements today in the mail from Asset Recovery Solutions offering settlement amounts for the Navient debt. I contacted whom I thought was Navient from their website at (888) 272-5543 but during the conversation I found that I was actually speaking to … Read more
Question: Dear Steve, All government loans taken out in 1980s. Owed about $30k at graduation. paid off about $20 then went into default. did not hear from them for many years. then in early 2000s recontact and I ended up consolidating now amount of about $60k. I want to check the accounting and get some … Read more
Question: Dear Steve, I had a student loan. They say I owe them around 6,000 and said if I wait to pay it then I’m guessing my interest rate will go up and it will be hard for me to get another loan. Is this true? They claim that if I do a monthly payment … Read more