Student Loans

[ktl72455]

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.

[laz98]

Has she just asked the companies holding her student loans what options she might have?

[loviedovie]

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. 

[SCF]

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.

[ktl72455]

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

[ktl72455]

Thanks!

[ktl72455]

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?

[SCF]

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?

[ktl72455]

no collections and on one report it says repayment date 2021