I need help! My payments are too high, threatening garnishment.

[Anonymous]

First off, this is all my fault. I continued school while under some serious anti-depressants and it made me a zombie. A zombie with dumb choices. I thought I was paying on all of my bills. I was doing so well that I even set up an emergency fund and was planning on a future car.

Then I got a phone call from Allied Interstate LLC telling me I owed Sallie Mae some extreme amount of money. They said I was so behind my min. payment a month would be 480.00. If you add that to my other student loans that makes my loan bills 780.00 a month. I can not make those type of payments and they are not working with me at all.

I need help on what I can do. Two weeks ago I was planning my future, now I don't even begin to understand how I can survive.

My loans are through Sallie Mae and Acs.

[Tazman81]

Call and speak with Sallie Mae.  If you search the site, I think there is a Customer Advocate number floating around somewhere.  Explain your situation to them and see if there is something they can do.  Tell them that you are willing to make payments, but need payments that are reasonable.

Are these federal loans or private loans?  If federal loans, ask them about going on the rehabilitation program and an income based repayment plan.  If they are private, ask if they have something similar to this.

[Anonymous]

First, you need to figure out what types of loans you have whether they are private or federal, that will determine your course of action. You have several different options if they are federal, you can apply for a forbearance, a deferment if you have experienced a job loss, medical condition or general or apply for an income based repayment plan if you can afford to make payments. If they are private, you can apply for a forbearance or investigate on the lenders website the different options that are available to you before contacting them. If you have information, they are less likely to bully you into an unreasonable payment plan. If your unsure, go to the national student loan website, you will need an active fasfa pin.