Question: I like millions am a student loan debter, I am lucky, the Army paid almost all of my loans except for about 4K which I am paying on. I had one loan in default yrs ago which I paid off, I refused to pay a collection agency and paid the student loan myself. I will be all paid off i 2 or so years. My wife has $30K i loans that bounces around from one collection agency to the next. I made the mistake of fileing taxes joiintly and the collectors VAN RU Co intercepted our tax refund of $900. They would have just applied that $900 to bogus collecion fees and bogus cost anyway so I did some research and filed an IRS injured spouse form. What that form does is give the refund back About 3 weeks later we recieved a check for about $880 my wifesportion of the refund they kept but that wasonly $20. WE have since filed married separatly and I get the full refund. Another thing I do is this: When collectors call asking for my wife I tell them that I dont know them and that No !! thay cant talk to her. Then I send them a cease and desist letter. That stops alll calls and letters. Sample letters are on the Nolo or Carren associates site. We are willing to pay on the origanal balance of wifes loan that would be 12K,since that dosnt seem possible and they want 30K thaey will get nothing. There are people who owe much more and will never be able to pay. The interst on these loans must be tallied every day and one can pay for years and the balance never hrdly goes down. I think that the govt will never provide loan forgiveness, the govt will continue to play hard ball and what wiill occur is this:: When millions of boomers with defaulted loans reach retirement age of 60 or 62 the
Answer: only about 10-15% of people have to default on their student loans (according to the fin aid office at my univ.) However, it is traumatic to have that much debt and see no end in sight. This is why this org. is forming – for the purpose of asking for forgiveness. It doesn’t have to be for everybody, only those who, after means-testing, have been made eligible. Those who make over a certain amount will not be eligible. Also, it is used as an incentive to draw people into certain businesses, like non-profit work, or teaching in inner-city schools, where people don’t want to go and need motivation like forgiveness. Please email me your thoughts on this – right now we are working on a constitution for the org. to spell out what the principles are that guide the org. to make it run more smoothly. There is a positive response to it, and the idea is not going away.
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