I owe approx 110k in student loans and just received my discharge for chapter 7 in the mail today. I know Navient will put those lovely loans back in repayment oh-so-soon and I simply cannot afford the montly payment ($850/mo). I am recently divorced and therefore while I previously could afford to make the payments, my financial situation has changed. I applied for IBR and somehow didn't qualify (I still don't understand that).
Do I have any options? I really, really don't want to default - after chapter 7, my credit has obviously already taken a dramatic hit (was 750 prior to chapter 7... darn divorce.) I've already lowered all of my monthly bills and expenses, no car payments, no frills such as cable or anything like that - just supporting myself and my daughter on my salary is quite difficult. Not sure how to pay my loans and afford to live and trying very hard to avoid defaulting.
Any insight is much appreciated!
PS. I don't not own a home or anything beyond my vehicle. No one to co-sign to refi or put up anything as collateral for a refi.
If you do not qualify for IBR perhaps you qualify for another income based plan - there is more than one. Here is a link where you can explore them: