Student loans in default?
I really want to do the right thing here but the option offered is beyond my budget. I desperately tried to keep my account from being deferred but I was going through a divorce- access to no money, but bank accounts and salary showed otherwise so I didn’t qualify for deferment plans.
Student loans have been in default for a year now. I am trying to make payment arrangements now and they are telling me they can accept no less than 700 month and are giving me until Monday to make my first payment. They told me this is my only option and that they will not accept a lesser payment.
I got a feeling that the guy was bs-ing me. He barely wanted to answer my questions and was extremely pushy (which hey, I understand, but not really necessary when someone is TRYING to pay voluntarily.) Can someone tell me if this is my only option? What if I can only pay $300 a month right now? Will they seriously refuse my payment like this guy said?
No they won’t refuse your payment. However they can garnish your wages. That will be the next step and employers don’t seem to like that.
