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princess
Joined: 16 Jan 2003
Location: soul of Asia
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 Posted: Thu Mar 30, 2006 11:52 am Post subject: student loans |
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| Has anyone ever stopped paying their loans when you are unemployed? Maybe I will. I tried to get mine deferred but they are saying no deferrment because they found 2 employment agencies within 50 miles of my home. I don't want to go and register with an emloyment agency just to get a deferrment because I don't plan on staying in the states anyways. Geez!!! Why is everything such a hassle??? I aslo don't want to use the money I do have to pay monthyl loan bills. Before I was stupid enough to keep paying my loans when I had no job for 9 months a few years ago. |
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Bulsajo
Joined: 16 Jan 2003
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| Posted: Thu Mar 30, 2006 2:33 pm Post subject: |
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It shouldn't be a problem.
The IRS can even arrange to have your room and board paid for... |
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Yo!Chingo
Joined: 06 Dec 2005
Location: Seoul Korea
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| Posted: Thu Mar 30, 2006 2:54 pm Post subject: |
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Go for it Princess! The government loves it when people stop paying their debts! That's what makes our country soooooo great. Laws mean nothing.
You will of course ruin your credit and in the States and that's like professional suicide. Jobs now even run a credit check on every applicant. Did you know that?
Get a Job even if it's flippin burgers till you get outta the country and pay your bills!
I'll be ranking you along the same lines as illegals if you don't take responsibility for the $$$ Uncle Sam was kind enough to lend you in the first place. |
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princess
Joined: 16 Jan 2003
Location: soul of Asia
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| Posted: Thu Mar 30, 2006 3:23 pm Post subject: |
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| Yo!Chingo wrote: |
Go for it Princess! The government loves it when people stop paying their debts! That's what makes our country soooooo great. Laws mean nothing.
You will of course ruin your credit and in the States and that's like professional suicide. Jobs now even run a credit check on every applicant. Did you know that?
Get a Job even if it's flippin burgers till you get outta the country and pay your bills!
I'll be ranking you along the same lines as illegals if you don't take responsibility for the $$$ Uncle Sam was kind enough to lend you in the first place. |
Well, hahaha!!! Did you really read my post? The part where I said in the past I was dumb enough to pay my loans when I had no job for 9 months, with money I worked hard for in Korea? I have even met people teaching in Korea, EARNING MONEY, who said they did not pay their loans. I met a 47 year old guy in the states before who was working as a manager of a pizza place and he said he never paid the first dime on his loans. He said all they will do is threaten to do this and threaten to do that, and he said they never did anything to him. I wonder how many people in America, Canada, etc., never pay their loans? I bet many, many, many. I heard Australians have the option to pay or not to pay them...What??? |
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Porter_Goss
Joined: 26 Mar 2006
Location: The Wrong Side of Right
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| Posted: Thu Mar 30, 2006 3:48 pm Post subject: |
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| princess wrote: |
| Yo!Chingo wrote: |
Go for it Princess! The government loves it when people stop paying their debts! That's what makes our country soooooo great. Laws mean nothing.
You will of course ruin your credit and in the States and that's like professional suicide. Jobs now even run a credit check on every applicant. Did you know that?
Get a Job even if it's flippin burgers till you get outta the country and pay your bills!
I'll be ranking you along the same lines as illegals if you don't take responsibility for the $$$ Uncle Sam was kind enough to lend you in the first place. |
Well, hahaha!!! Did you really read my post? The part where I said in the past I was dumb enough to pay my loans when I had no job for 9 months, with money I worked hard for in Korea? I have even met people teaching in Korea, EARNING MONEY, who said they did not pay their loans. I met a 47 year old guy in the states before who was working as a manager of a pizza place and he said he never paid the first dime on his loans. |
Yeah, they didn't have to do anything to him. He was already doing it to himself. |
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Yo!Chingo
Joined: 06 Dec 2005
Location: Seoul Korea
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| Posted: Thu Mar 30, 2006 6:54 pm Post subject: |
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Paying your debts in NEVER a mistake. The only mistake you made in that 9 months when you were paying was to not get a deferment.
To me anyone who tries to flake out on their financial obligations is a deadbeat...period. The only excuse is death or illness. EVERYONE should be responsible for their bills!!!
BTW Princess you said that the 9 months you paid your loans with no job was a few years ago. YOU NOW HAVE $$$. PAY YOUR LOANS!!! |
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seoulsucker
Joined: 05 Mar 2006
Location: The Land of the Hesitant Cutoff
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| Posted: Thu Mar 30, 2006 7:11 pm Post subject: |
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| Porter_Goss wrote: |
| princess wrote: |
| Yo!Chingo wrote: |
Go for it Princess! The government loves it when people stop paying their debts! That's what makes our country soooooo great. Laws mean nothing.
You will of course ruin your credit and in the States and that's like professional suicide. Jobs now even run a credit check on every applicant. Did you know that?
Get a Job even if it's flippin burgers till you get outta the country and pay your bills!
I'll be ranking you along the same lines as illegals if you don't take responsibility for the $$$ Uncle Sam was kind enough to lend you in the first place. |
Well, hahaha!!! Did you really read my post? The part where I said in the past I was dumb enough to pay my loans when I had no job for 9 months, with money I worked hard for in Korea? I have even met people teaching in Korea, EARNING MONEY, who said they did not pay their loans. I met a 47 year old guy in the states before who was working as a manager of a pizza place and he said he never paid the first dime on his loans. |
Yeah, they didn't have to do anything to him. He was already doing it to himself. |
Yeah...if the only thing my college degree got me 25 years after graduation was a different colored tie at Pizza Hut, I probably wouldn't pay 'em back either. |
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mchristophermsw
Joined: 20 Nov 2005
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| Posted: Fri Mar 31, 2006 1:28 pm Post subject: |
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Pay your loans if you can. Student loans are considered a good debt.
But if you choose to default there are consequences.
Bad credit, failure to qualify for a home loan or apartment check, car loans etc. And When you retire and recieve SS, they will garnish 10%.
How much money are we talking?
If its not to much then Iam sure it is managable and you can always get an extension from 10 years to 30 years which will lower your monthly payments.
BTW, many people default or go bankrupt. I think it is totally unfair when you have the rich and coorporate america screwing everyone with BR protection but the little guy is considered a "deadbeat"????
Lastly, if you plan on living abroad and expating for good then you can just start over. But if you come back to the USA, your gonna face some problems....Just food for thought.
Best wishes |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Fri Mar 31, 2006 4:13 pm Post subject: |
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first up try and find a different servicer. Sallie Mae stinks to high heaven when it comes to this, you can only get 36 months of unemployment deferrment etc. I got the Direct Loan Servicing center to take over my loans. I can get economic, unemployment and a variety of other repayment options including income contigent very easily. Right now I have mine in an economic hardship, they believe my korean salary is too low to make payments. So now I'm wiping out my cc debt and building savings. In a couple of months I'll start paying them.
You may have to get another loan to be eligible for them to take it over. Sign up for some sort of certification program where you can get a student loan, get it and reconsolidate. Thats how I got rid of Sallie Mae as my serivicer. Those folks are pure b*$tards.
If not offer to make a minimum payment, they got to take something these people need to be reasonable given the drop in wages etc.
Yeah the bankuptcy laws now stink, totally biased towards the rich, they make credit easier for people with bad credit and they don't wind up taking the risk for their decisions, but thats for another discussion |
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elynnor
Joined: 08 Feb 2006
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| Posted: Fri Mar 31, 2006 9:12 pm Post subject: |
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