I have a private student loan that i defaulted on when I got sick and when I tried to make payments i was told it was charged off. That’s when MRS Associates contacted me DEMANDING payment in full (93,000.00) I told them I clearly couldnt afford that and they offered to settle for something like 50k. I only make 40k a year and clearly do not have the kind of money around. My grandparents are my cosigners and I’m so terrified they will sue them. I’ve begged and pleaded for a payment plan but they refuse. My grandparents have their house in my mother’s name and they don’t own anything other than a car, but I fear for their savings and the whatnot if this does go to court. I’m trying to obviously avoid court at all costs. I know I cannot file bankruptcy, i know i should have paid the loans, i know all of the things that many people post on other questions–like i said i was hospitalized for a few months and never got a handle on my bills after that. If anyone has some advice as to what I should/could do to prevent my grandparents getting sued I’d be so grateful. Thank you and I appreciate your help.
Hey Lari, you get cancer and tell me how you deal with it. How about that? I’m sorry I don’t make 100k that affords my medical bills in addition to my student loans. I pity whoever has the dire unfortune to associate with you.

Technorati Tags: 100k, bankruptcy, cancer, cosigners, grandparents, medical bills, money, private student, student loan, student loans, unfortune, whatnot

I am beginning to regret going to college, it seems the only thing I have attained from it, is debt. When I went to school I was allured to the dream of being an airline pilot. I finally got my pilot’s license, but it got to expensive, so I switched to Aviation Management. I am so depressed and mad at myself for letting this happen, and it seems like there is no way out. A few times I forgot to fill out the FAFSA so I had to take out loans to cover the expenses, or I was late getting it in and got no money.

Here’s where I am at:
1 Loan for ,000 (Monthly Payments of 476/mo); 1 Loan for 620 (Monthly Payments of 128); 1 Loan for 00 (Monthly Payments of 50), and Credit Card Debt of about 00. So I have loans totaling 420.

I also have a car payment, cell phone, however I pay no rent, but my grandparents will soon be asking for that.

I just got a new job that pays me 000 per year. So if I don’t put anything into savings I can pay off my loans in about 4 years, however when you begin to figure in my other expenses it’s more like 7 years.

Consolidation is not really an option, because the 000 is an “Education Alternative Loan”, it’s not a federal loan. The 00 loan is a no interest loan. And the 620 is a direct federal loan.

-My dilemma is that, I have a girlfriend that I want to begin a life with. I wish to get an apartment with her maybe in the next year or so. And I want to marry her.

Situation 1- Do I put no money into savings and just tackle the loans head on? I will have no money for retirement or a down payment on a house.

Situation 2- I put some money aside into savings, and it will take longer to pay off?

Situation 3- Declare bankruptcy if I can?

I apologize for this taking so long, but I don’t know what to do. Thank you for your help.

Technorati Tags: airline pilot, apartment, aviation management, bankruptcy, car payment, cell phone, consolidation, credit card debt, dilemma, education, fafsa, federal loan, girlfriend, going to college, grandparents, interest loan, loans, money, new job, retirement

my credit was stolen about five years ago, i was in hawaii with my husband who was in the army at the time, but my credit says i bought a car in Oh and a house in WV, the thing is my parents stole my credit. i can’t press charges against them, even though my husband wanted nothing more than for me to do that. they also got several credit cards in my name. basically my credit is shot. i refused to press charges on them because they are my parents, but w/o pressing charges i am responsible to pay back the debt, it’s been 5 years and the debt just keeps adding up, we’ve already paid several thousands of dollars to try and restore my credit. i was estranged from my parents for 8 years and we just started building a relationship before all this happened. is it wrong to file bankruptcy to get rid of the debt, my credit is shot, i still owe about 20,000 that i know of, nothing me and my husband own is in my name, but with a new baby and another child in the house and a car payment, we can’t afford to keep paying on stuff we didn’t even get. is it wrong to file bankruptcy in this case? or to press charges against your parents when they do that? they admitted it when they got caught, but never even apologized to me. what do you think? and which bankruptcy should i file? 7 or 13 thank you
my parents already made it clear they won’t pay any of it back. they said we should ignore the bills. we can’t do that. i’m just afraid of how it will look to my children, if i put their grandparents in prison, especially when they are older. and isn’t it mean to put your parents in jail, though they did ruin my credit, and our lives. we have had to cut back on so much stuff because we’re paying off their bills. so bankrubtcy is not an option, will my kids hate me later for putting my parents in jail?

Technorati Tags: 8 years, army, bankruptcy, car payment, credit cards, grandparents, hawaii, new baby, parents, pressing charges, relationship, thousands of dollars