What happens if I default on my private student loans?
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What happens if I default on my private student loans?
Asked on January 17, 2013 under Bankruptcy Law, Missouri
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you are in default on your private student loans then there is a good chance that the lender will make a demand upon you for payment and if you cannot comply a lawsuit may be filed. Given what you have written about I suggest that you contact the lender and try and work out a revised payment plan in writing an adhere to it.
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