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-   -   how to deal with student loan debt (http://www.thefinanceforums.com/showthread.php?t=10550)

ironsniper 06-07-2016 10:39 AM

how to deal with student loan debt
 
hey all me and my fiancee are both 29 we met in college and have a lot of student loan debt, she was paying on hers every month a few years back until sallymae missed several payments (by not taking the amount out of her account) and blamed it on her and now her loans are in default cause she just gave up (not the first time it had happened)

my loans have been in default for a lot longer than hers and i have never put any money into it, i think the private loans have been forgiven or they no longer go after it i am not sure,

but lately after not having a decent full time job since 2010 i now make a decent amount of money but not enough to put money towards the student loans to try and fix my credit which is what i want to do

but whenever i talk to the debt collectors they will not budge on how much they want me to pay, i want to pay under 100 a month but they want 250-700 a month!

my question is how do i go about getting my credit back in line so we can get a house and really start our lives?

ironsniper 06-13-2016 10:49 AM

Re: how to deal with student loan debt
 
i guess i worded my question wrong

Here2help 06-14-2016 11:15 AM

Re: how to deal with student loan debt
 
You can pull you credit report for free once a year. Get all three free at www.annualcreditreport.com

review them in detail. Note each creditor. You'll need to contact each of them to see what it will take to get them back in good graces.

Make sure that you have your budget figured out before talking about a repayment schedule. You'll need to make sure that you cover your basic needs first. With the left over money you make per month you'll use that to pay everyone back. You can use a Pro-rata (percentage of each debtor vs total debt) approach on repayment.

You can also check your credit score for free at CreditKarma.com. This will give you an idea on your credit score. If you're looking at buying a house, you'll need to make sure that you can not just afford the house, but also the repairs associated with them.

Paul@GFS 12-15-2016 04:22 AM

Re: how to deal with student loan debt
 
Quote:

You can pull you credit report for free once a year. Get all three free at annualcreditreport. com
Yes, checking your credit report is very important. It will give you the true picture of your standing. You may come across accounts or elements that don't belong to you. In that case, you'll get an opportunity to report it with the Credit Bureaus.

Please answer the remaining 2 posts and update the report.

Jovanny 12-26-2016 06:49 AM

Re: how to deal with student loan debt
 
I think you should analyze your financial situation and chalk out a plan to save money.

Mark100 01-26-2017 10:12 PM

Re: how to deal with student loan debt
 
Yes it is very important and necessary to check out your credit reports often and it will help you to track to your credit record and you will make a good money saving plan.

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yourita 02-03-2017 04:52 AM

Re: how to deal with student loan debt
 
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FundsGlory 02-12-2017 08:31 PM

Re: how to deal with student loan debt
 
First of all, savings itself is a magical word.

Jovanny 02-28-2017 11:33 PM

Re: how to deal with student loan debt
 
@ironsniper Do keep us updated. Hows' your credit scenario going?

laktruitt 03-19-2017 11:35 PM

Re: how to deal with student loan debt
 
I would first make a plan for how to pay off debt and save money. Decide where you need to be credit wise and make sure you always make your credit card payments.

emilyhilscher 05-06-2017 04:57 AM

Re: how to deal with student loan debt
 
Best ways to deal with debts is consolidating them. This saves money as well as time.

emon123 06-02-2017 07:52 AM

Re: how to deal with student loan debt
 
Keep tab on your loan.Try to repay as much as possible in convenient way

SunnyMay 04-01-2019 12:33 PM

Re: how to deal with student loan debt
 
That's such a sad story. I know that many of my fellow students take loans with the purpose to order writing works. I don't do that because I usually order on https://rapidessay.com/college-paper-help.html and it is cheaper than most services.

bugmenot 09-23-2019 05:39 AM

Re: how to deal with student loan debt
 
It is worth thinking about a better job, or save more.


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