Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012
Re: Need help with my loan ASAP

I just dealt with a different CA for my student loans. 

 

Did they walk you through your income and monthly expenses? (rent, utilities, gas, food, etc)

 

They have guidelines to follow.. Some percentage (15%?) of your expendable income. Not sure how much your expenses figure into this, or if it's just your take home pay minus some point of the poverty line. But my payment ended up just under $200.

 

Is your original loan private or federal? Did you consolidate multiple loans?

 

With a federal loan, you will be able to set income-based repayments after you are rehabilitated and your debt is purchased. Unless you make a ton of money, it likely won't be that high. There are student loan calculators out there.

 

I think they're trying to push you to pay more. When I called the CA, they asked me if I could pay 50% of the debt, then 25% of the debt, and I told the lady that I couldn't pay ANY percent of my debt and she backed off. 

 

I hope you get more responses from folks that have been through a more similar situation. It stinks, I know!!

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695