You are so correct. Government backed student loans follow you to the grave. If you default you get the following benefits from Sallie Mae:
1. Garnishment of wages.
2. Forfeit federal income tax refunds.
3. Garnishment or forfeiture of unemployment benefits.
4. No food stamps.
5. Garnishment or forfeiture of social security benefits.
6. Claim against your estate and life insurance.
7. Not dischargable under Chapter 7 of the Bankruptcy code.
....just to name a few.
I had to default on mine and filed for bankruptcy. My student student loans are not dischargable and my pay will be garnished when I get a job again, if anybody will hire me.
The Child Molestors at Sallie, regarding a loan I'm about to default on. Added it to the block list on my phone, and I'll never get a call from this number again (=
If you're in debt, get a Windows-based smartphone, like a Motorola Q or a BlackJack. Buy a $9 software from Efficasoft called SmartBlock. You can put your creditors & unwanted callers on SmartBlock's "Black List", and poof - you'll never get a call again from them. You might get a v-Mail, but it's better to delete a v-Mail than talk to a creditor. In 7-10 years, your debt will be wiped clean off your credit report. I'm already 4 years along, and creditors rarely ever leave v-Mails - Well, Sallie Mae does!
i keep getting these same calls, about 10 a day. i am not home during the day but i see them on my caller ID. i happen to be home today sick, and this number has called my phone 6 times already and it is only 2 pm EST. my daughter went to school and got loans in her name after they refused me.....little did i know that i was listed as a co-signer for these loans, and i got a letter about 3 weeks ago demanding ALL of these sums which was a 7K loan with 18% interest (there should be a law about predatory lending on unsuspecting students trying to get loans) which is now 20K. I put it into forebearance 4 times, that is all that they would allow. she refuses to pay it, says she doesn't make enough money to. my fiance and i are now in the process of trying to purchase a home and b/c of this, i cant be on the mortgage app with him. i told sally mae that i was not her, and have given her phone number and address repeatedly. i asked them to remove me from their call list which they did for about 3 months and now they have started calling me from 8a up to 10 pm at night.
You are so correct. Government backed student loans follow you to the grave. If you default you get the following benefits from Sallie Mae:
1. Garnishment of wages.
2. Forfeit federal income tax refunds.
3. Garnishment or forfeiture of unemployment benefits.
4. No food stamps.
5. Garnishment or forfeiture of social security benefits.
6. Claim against your estate and life insurance.
7. Not dischargable under Chapter 7 of the Bankruptcy code.
....just to name a few.
I had to default on mine and filed for bankruptcy. My student student loans are not dischargable and my pay will be garnished when I get a job again, if anybody will hire me.