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12-26-2012 05:20 AM
I am looking for information to help a freind. Credit Karma shows 3 student loans in collections. She is aware of 1 but said she got a letter forgiving her of the amount due when she became 100% disabled and recieving SSDI.
I have her looking for her paperwork. If she cant find it, where can I suggest she go/call/email to gt another copy of it.
Also with her getting SSDI and not able to work or pay back the loans, what is out there for help to so she dont have to pay back the other 2?
Any help in any direction would be great becuase this is not up my ally and I am trying to help her.
12-26-2012 11:51 AM
Has she just asked the companies holding her student loans what options she might have?
12-26-2012 08:12 PM
There are very few instances when you are able to discharge student loans via bankruptcy, but becoming disabled and unable to work is one of them. This is something she could look into if the amount is too big for her to repay on her own..
A guy from my grad program was in a car accident, after which he had to re-learn to speak from scratch. He was able to discharge the full amount of loans, several hundred thousand dollars. It is possible if she is interested in going down that road. I think you have to contact the government to get the ball rolling though, or an attorney. I don't know the details.
12-27-2012 08:37 PM
First, I'd contact your lenders and see what they reccomend in cases like this. It's possible she could be put on an income-based repayment plan and much of the loans eventually forgiven down the road (I believe it is 25 years). The other option would be to contact a bankruptcy attorney with experience in discharging student loans to discuss going down that path, but that's a big choice to make and one that should only be made with all the information available and considered.
01-01-2013 05:02 PM
Heres what one credit report shows
Date opened 3/14/87
Date reported 2/14/12
Comments: Student Loan -payment deferred
Deferred payment start date 4/21
It shows ths on all 3 of her student loans
01-01-2013 05:02 PM
01-01-2013 06:54 PM
It shows on Exp CR
Status: Transferred,closed. Deferred payment date not reported.
Creditor's Statements: Student loan permantly assigned to goverment.
Any idea what this means?
01-01-2013 09:01 PM
The "permanently assigned to the government" is a remark I would expect to see on a defaulted loan. When federal loans default, the government takes them back and assigns them to one of their authorized collection agencies to attempt to get the money. Did she default on the loans at some point? Are there any collection accounts on her reports?
01-01-2013 09:10 PM
no collections and on one report it says repayment date 2021
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