Re: Defaulted Student Loan

Posted by Anonymous (65.231.161.127) on May 06, 2002 at 19:55:45:

In Reply to: Defaulted Student Loan posted by Frank on May 05, 2002 at 23:14:57:

That's pretty much correct on Student Loans - unless you have a "very" good reason (permanent disability, etc.) Usually, from what I've heard, they don't negotiate for less - but they might negotiate for a longer period to pay off the debt. If you're really have a financial/economic hardship they might grant you a deferment - that's hard to say if you haven't paid the student loan. If it's a federal loan there are ombudsmen who (maybe) will work with you.
Have they been in contact with you?

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