Help!!!!!!!

Date: Tue, 12/22/2009 - 13:57

Submitted by ddmav079
on Tue, 12/22/2009 - 13:57

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Total Replies: 2

Help!!!!!!!

So i'm defaulted in two students loans (which i had no idea of) i just found out by going back to school.... one is a federal one is private both thru sallie mae.... the federal one got me on a rehab program but the private one (CA fms) is not working with me. i told them i make 1100 a month, pay 550 for child support and 500 for rent. yea that bad. so they're like you can settle for 1205/mo for 6 mos.... i cant do that.. i offered 50/mo just something but it's to no avail... it's making me physically sick... i went into default in october of this year and started school again in november.. thats the only reason i even know about this.. what can i do? can i consolidate these? and what company??? help... i'm at my breaking point.

I will move to student loan forum for our school gurus.

lrhall41

Submitted by cajunbulldog on Tue, 12/22/2009 - 14:05

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Well for starters, you cannot consolidate federal and private lo

Well for starters, you cannot consolidate federal and private loans together. Secondly, private loans do not have to work with you....once you default, the balance is accelerated and there is nothing you can do but pay it off. No rehab is available for private loans.

How could you have not known about this? Massive amounts of default and predefault letters and calls would have been made to you. Did you not update your lenders with your current address and phone?

With the rehab on your federal loan, you will regain your financial aid eligiblity after 6 payments. Have you withdrawn from school since you are not eliegilbe for aid?

lrhall41

Submitted by SOAPLADY on Tue, 12/22/2009 - 16:38

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