sienamystic (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
sienamystic) wrote2009-01-07 03:55 pm
sienamystic) wrote2009-01-07 03:55 pm
Entry tags:
Grr, argh
Nothing like a phone call from a bill collector regarding your husband's vastly overdue student loans to send you into a death spiral.
Currently, Bemo is employed. In March, his temp. employment ends, unless he manages to find something between now and then. Right now, I can't commit us to paying either $375 or $480 a month to keep these loans out of default. If we pay the higher amount each month, about 13K in penalties and interest will go away. If we pay the lower amount, it won't disappear, but we'll have about 30 years to pay off the balance. If we pay a paltry what-we-can-afford sum each month, the loans go into default and the payments get absorbed into penalties and interest. Apparently garnishment is a possibility, which is a neat trick if they can pull it off when his frickin' job goes away again.
I've paid them a hundred bucks as a holding payment until I can talk with Bemo. On the other hand, unless we win the lotto in the next thirty days, I don't know how we can make sensible plans. Ok, I can cut off the cable. I don't think that'll do it. I should cut it off anyway. Mmph.
Pls to be excusing me while I go beat my head against the wall for a little bit.
Currently, Bemo is employed. In March, his temp. employment ends, unless he manages to find something between now and then. Right now, I can't commit us to paying either $375 or $480 a month to keep these loans out of default. If we pay the higher amount each month, about 13K in penalties and interest will go away. If we pay the lower amount, it won't disappear, but we'll have about 30 years to pay off the balance. If we pay a paltry what-we-can-afford sum each month, the loans go into default and the payments get absorbed into penalties and interest. Apparently garnishment is a possibility, which is a neat trick if they can pull it off when his frickin' job goes away again.
I've paid them a hundred bucks as a holding payment until I can talk with Bemo. On the other hand, unless we win the lotto in the next thirty days, I don't know how we can make sensible plans. Ok, I can cut off the cable. I don't think that'll do it. I should cut it off anyway. Mmph.
Pls to be excusing me while I go beat my head against the wall for a little bit.
no subject
I will agree with the above: try to keep out of default. That's messy. Of course, reality states that staying out of default isn't always possible.
Also, given the money situation is some kind of forebearance possible?
no subject
Yeah. It's worse if you don't get it fixed. But can it be fixed? Mmmmmph.