Guest z3niMAGiNE Posted April 23, 2008 Report Share Posted April 23, 2008 Hello,I'm here because my girlfriend got herself into some financial trouble. She has a few credit cards with relatively low balances that aren't in good standing but the biggest problem she's facing is her student loan.She owed $17k until just the other day when she received a phone call from a collections agency stating that the new amount owed was $27k. $10k overnight! Please tell me something can be done about this.Personally, I've never had any financial issues like this because I've always paid everything on time so I'm at a loss as far as helping her.Can someone give me some ideas as far as where to start.. reading.. etc. Ideally I'd like to wipe her debt to nothing or at least a manageable amount and would appreciate any advice you can give me.Thanks Link to comment Share on other sites More sharing options...
Amerikaner83 Posted April 23, 2008 Report Share Posted April 23, 2008 ok - tell us about her student loans. When were they taken out? When was she supposed to have started paying them? Did she ever start paying them? How long ago? If she had paid them, how long ago did she stop?17K is not a lot in student loans - mine (for an AA degree in Electronics) run 40K principal. Ouch! But answer the questions and we can get a better idea of the situation. Link to comment Share on other sites More sharing options...
LynnInMN Posted April 23, 2008 Report Share Posted April 23, 2008 Hello,I'm here because my girlfriend got herself into some financial trouble. She has a few credit cards with relatively low balances that aren't in good standing but the biggest problem she's facing is her student loan.She owed $17k until just the other day when she received a phone call from a collections agency stating that the new amount owed was $27k. $10k overnight! Please tell me something can be done about this.Personally, I've never had any financial issues like this because I've always paid everything on time so I'm at a loss as far as helping her.Can someone give me some ideas as far as where to start.. reading.. etc. Ideally I'd like to wipe her debt to nothing or at least a manageable amount and would appreciate any advice you can give me.ThanksThe balance didnt jump overnight. She might have borrowed $17k but depending on the loan type, interest plus late fees do add up. She has also been charged collection fees of up to 25% due to the default. These are assessed 60 days post default. Interest will continue to accrue as well. Link to comment Share on other sites More sharing options...
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