Re: Student Loans.....have a question

Posted by jm10101 (198.80.152.22) on February 11, 2003 at 13:41:48:

In Reply to: Re: Student Loans.....have a question posted by basketlady on February 11, 2003 at 12:55:27:

Sorry for preaching - you seem to know score about the loans.

The $250/ month they requested sounds like the 1% minimum usually required for rehabbing. In my state the interested on defaulted loans is 12%, so I assume the arrangement keeps the balance from increasing. And if they're grabing refunds, they are almost certainly govt loans.

In terms of coming after your accounts + property, the extend of reach depends in part on if you are in a community property state.

Really, if they haven't pursued a judgement yet, I'd encourage him to try to get it rehabbed - it won't disappear. If it's $26000, they are probably adding $260 / month in interest this month, $262 next month, $265 the following [ assuming 12%. It a lot of money to throw away.

Follow Ups:

Post a Followup