Private education loan default

[sammie5025]

What is the name of your state (only U.S. law)? GA

I've recently been contacted by a collection group regarding a private education loan from when I was in college in Florida. My last payment, according to my credit report, was August of 2010. I disputed the debt and they sent me a copy of the promissory note. The guy talked me into saying that it was my debt and has been after me to make payment arrangements. The amount is over $11k and is way more than I can afford. I'm not sure what to do. They keep calling me.

 

[Proserpina]

What is the name of your state (only U.S. law)? GA

I've recently been contacted by a collection group regarding a private education loan from when I was in college in Florida. My last payment, according to my credit report, was August of 2010. I disputed the debt and they sent me a copy of the promissory note. The guy talked me into saying that it was my debt and has been after me to make payment arrangements. The amount is over $11k and is way more than I can afford. I'm not sure what to do. They keep calling me.

Can you sit and redo your budget with some sort of repayment plan?

You can tell them to stop calling you. And they can sue you.

 

[sammie5025]

Can you sit and redo your budget with some sort of repayment plan?

You can tell them to stop calling you. And they can sue you.

He's wanting 20% just to set up a payment arrangement. I'm a single mom and absolutely don't have that kind of money.

 

[Proserpina]

He's wanting 20% just to set up a payment arrangement. I'm a single mom and absolutely don't have that kind of money.

If you have a lot of other debt, bankruptcy might be an option.

May I ask though, what did you think was going to happen?

 

[sammie5025]

If you have a lot of other debt, bankruptcy might be an option.

May I ask though, what did you think was going to happen?

To be perfectly honest, I totally forgot about it. I check my credit report regularly and it never showed up as a collections or negative account. I've been slowly cleaning up the old accounts I do have and take pride in what I've done to improve my credit but this sprung up out of nowhere. I don't have much in the way of extra income and this guy seems intent on making me get in over head. I am not averse to paying it back but he is unwilling to work with my abilities.