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I don't know what to do!


Guest punkin
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Guest punkin

I am in desperate need of advice. When I was 18, about 9 years ago, I enrolled at Tulane University and received financial aid. Being 18, I didn't really understand what I was signing for, and when I left after a year, I didn't think about paying them back. A couple years later, I was sued by Tulane for over $5K, I set up a repayment plan with the attorney, failed to make payments, so they garnished my wages. Less than 2 years later, I had finished paying them, my garnishment ended, and I thought I was done with them.

Fast forward to today, I'm checking my voicemail and have a call from a man with a number to call him back. I (stupidly) call it back from work, and it turns out he is some sort of investigator verifying my information for the Perkins loan I had with Tulane which was sent to a collection agency, and being prepared to send to litigation. After doing some research, I found out that I did in fact have a Perkins loan with Tulane, as well as a Direct Loan through the federal government in addition to the previous loan I had paid. I called the man back and asked if there was a way to keep it from going to court. He said I can if I paid them in full, at this point they will not accept any payment plan.

I owe $3100 on the Perkins loan that he had called me about, and $3600 on the Direct Loan. The Perkins loan does not even show up on my credit report. There is no way I can pay the full amount of the Perkins loan, I could maybe afford to make payments of $150 per month. I can't do a student loan consolidation because I don't owe enough all together. I can't borrow the money from anyone, my credit isn't good enough to get a loan through my bank either. $3100 may not seem like a lot of money to some people, but it is to me.

If my wages are garnished, I will be fired from my job. I know they can't fire you for garnished wages legally, but knowing my job they will find a way, and then I'll be in a whole new mess. I just want to take care of my situation, but can't seem to find any way. If someone has any advice, I would greatly appreciate it!:cry:

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Calm down OP. It's not as bad as you think.

My suggestion: go to loanconsolidation.ed.gov and apply for a consolidation now. As long as there's no judgment or admin wage garnishment yet, you can consolidate. There is no minimum balance.

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