Sallie Mae Student Loan Worse Case Scenario
Date: Thu, 03/11/2010 - 06:57
Sallie Mae Student Loan Worse Case Scenario
I have a sallie mae personal loan that has a balance of 10k. i can no longer pay the monthly payment on the loan. i have already had the max 1 year defferment period. I am a homeowner in florida. if I do not pay back the money..what is absoulutely the worse thing that can happen to me? is bankruptcy an option?
I am going to assume this is a Sallie Mae private loan. If you
I am going to assume this is a Sallie Mae private loan. If you do not pay, they will default you. Your loan will be declared due in full and they will sue you so you will end up with a lien on your home. Bankruptcy is not an option for any student loan.
10K is relatively small in student loan standards. Have you thought about picking up a part time or extra job?
