What to do if I have a collection agency looking to get $81,000 or so in student loans?
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What to do if I have a collection agency looking to get $81,000 or so in student loans?
My mom gave them $12,000 to give us time and they reduced it to $37,000 (and maybe more) if we can pay quickly. The loans are only in my name and I don’t have any assets, just my paycheck they could garnish. Should we rescind payment and let them try to take action? Should we talk to a lawyer?
Asked on December 19, 2012 under Bankruptcy Law, Connecticut
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Given what you have written about concerning the loan that you owe on I suggest that you consult with a consumer law attorney to work out some written monthly payment plan on the debt in an amount that you can afford.
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