I rebuilt and it's all fallen apart again - starting from scratch

[Anonymous]

How much is the loan?  If you set up a payment plan, you can hopefully get a payment that you can manage. If you took out the loan because you were having trouble paying your rent, you may need to come up with a longer term solution.

[Remedios]

@haleyjen  they should accept payment plan. Dont waste too much time, because once account is forwarded for legal action, fees can get crazy.

Call them, let them know you can pay $100.00 per month and see what they say. You can offer lower than that, and that should give you some wiggle room if they say "We cannot accept $50.00, can you pay $100.00" 

Bottom line, it's better if you initiate this process and take proactive role than just wait to see how it plays out.

With judgement,  they will recoup money via garnishment or bank account lien, and that's the last thing you want.

Good luck and I hope you can put this behind you soon. 

[haleyjen]

Thanks all, I'll give them a call tomorrow.  I'll report back how it goes!

[haleyjen]

Ok, after leaving them two messages finally got a call back today.  I offered 150, they said no, wanted 250, I told them that literally wasn't possible, so they agreed to 200 a month and we review in six months.  Apparently, I have to pay their $350 dollar attorney fee?  Does that sound correct?  Thanks, all!

[Anonymous]

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@haleyjen wrote:

Ok, after leaving them two messages finally got a call back today.  I offered 150, they said no, wanted 250, I told them that literally wasn't possible, so they agreed to 200 a month and we review in six months.  Apparently, I have to pay their $350 dollar attorney fee?  Does that sound correct?  Thanks, all!

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What's the total amount owed? And you don't "have" to pay the $350 attorney fees. 

Take a deep breath. Don't panic. Give us as much info as you can and we have excellent advice here that can help you make a sound decision. 

[haleyjen]

5250 with the attorney's fees, 4900 without.  The original loan was for 3000.  I don't have a lump to settle with right now.

[fishbjc]

I would:

PRONTO be looking for a p/t position somewhere.

PRONTO be looking for items to sell

PRONTO be looking for a possible roomate.

Anything to bring in extra cash to cover what the lawfirms payment will be.   My friend got stuck in a hot mess and ended up cleaning houses.  It didn't take her long to climb out of that hole.  I HOPE you can find a viable way to earn extra money for yourself.  And sure, things happen.  Do whatever you have to do to keep a roof over your head.

[Remedios]

Yeah, attorney fees are for real, which is why we harp at members to either not let it get to legal stage, or if it already happened, to start fixing it as soon as possible. 

Also, you should be aware that the current amount is not static. It will continue to increase due to fees and interest. 

I know it sounds terrible, but that's just how it is. They seem aggressive in their collection efforts, so you will need to find ways to start paying this, because the alternatives such as bank account liens and wage garnishments are by far worse. 

In terms of money, you may need to make lifestyle adjustments till this is over, or find a part time work. 

Once they have a judgement,  they usually dont stop if they believe there is a way to collect. 

[haleyjen]

They haven't filed a lawsuit yet, and have agreed to 200 a month for now, and we will reevaluate in 6 months.  That's the very limit of what I can afford, but I will have to make it work as I do NOT want a judgement.