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Defaulted Student Loan help

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Re: Defaulted Student Loan help

Where can I find the income and expense form? Yes my spouse also has loans but she is in some income based repayment plan and her payment is currently $0.
Starting Score: 588, 579, 581
Current Score: 588, 579, 581
Goal Score: 720


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Message 11 of 14
Member

Re: Defaulted Student Loan help

Any insight as to how to pursue the vehicle loan at all?
Starting Score: 588, 579, 581
Current Score: 588, 579, 581
Goal Score: 720


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Message 12 of 14
Established Contributor

Re: Defaulted Student Loan help

When you're married, the way you file your taxes and the plan you pick affect your payments. If you file jointly, any plan you pick will take into account both of your incomes. If you pick REPAYE, then your loan payments will be based on both your incomes and both your loans. This is a nice feature because it's pretty unreasonable to have to people making larger payments if they both have loans.
If you're married filing separately, if you sign up for IBR they will only take your income into account. I think the maximum AGI is $50k but it could still be worth trying if you're close. If your wife's payments are $0 I would speculate she's already doing this.
https://studentloans.gov/myDirectLoan/formLibrary.action?_ga=2.226397210.1440077090.1568199521-29932...
Or go to the loan servicing collection link on the right side of the Federal Loan - IFAP website. It's under forms, which will take you to the site above.
https://ifap.ed.gov/ifap/

It's also called:
"Financial disclosure for reasonable and affordable rehabilitation payments"



Message 13 of 14
Member

Re: Defaulted Student Loan help

Update: Called FP to PIF and was told they could not email or give me anything in writing stating the arrangement agreed upon unless I first paid them immediately over the phone. They said they would then send something out. This does not seem right. Anyone else have this experience with them? If you pay without receiving it in writing first what would be your recourse if they then did not update it correctly?
Starting Score: 588, 579, 581
Current Score: 588, 579, 581
Goal Score: 720


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Message 14 of 14
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