This is just me ranting to get my thoughts out. Yeah, I really messed up. I applied to college when I was 20 (I’m 30 now) and was super hopeful at the time, but I ended up getting expelled due to a legal incident with another student, so I never finished. Because of that, I wasn’t really able to find work, and any little money I had went straight to student loans and court fees. I had to stay with my mom and couldn’t really make progress in life.
It wasn’t until recently that I finally started getting things together and felt less stressed than before, but then the rent at my place went up and now I’m getting evicted. It couldn’t have happened at a worse time, because Sallie Mae is now suing me for $21k, and I have zero money to afford a lawyer. So now I have two major things hitting me in the same month. I want to just end it all, but that would only leave all my unpaid debt to my mom, who co-signed.
This sucks.
getting sued by sallie mae
byu/Routine-Frosting9077 inStudentLoans
Posted by Routine-Frosting9077
8 Comments
The debt is legitimate, so there isn’t much a lawyer could do for you anyway, but you should still respond to that case and show up if you can. It’s pretty common for people being sued over debt to just show up without an attorney.
Sorry for all the trouble you’re having.
Where are you in the process? Did you just get served notice?
Assuming you just got served, there will likely be a mediation period and that 21,000 will likely be reduced to something smaller. And lawyers are also expensive for Sallie Mae, so hopefully they will be willing to work with you.
Is it a state loan? In NY state the statute of limitations is 3 years. Don’t respond and you are free and clear.
It’s possible you could qualify for free or reduced legal advice through legal aid. I do think this could be negotiated down and a payment plan arranged.
Attorney here that handles these kind of cases, submit hardship application and see if you can settle for long payment plan.
Try to push for a 60 month payment plan. Your number one goal is to have the lowest payment plan so you don’t get overwhelmed.
If you are about to default on the stipulation, settle again.
Remember, once it goes into wage garnishment, it gets very difficult to come out of it.
Good luck!
I’m really sorry you’re dealing with all of this. If you haven’t already, respond to the lawsuit and see if your county has a legal aid clinic, a lot of places will help with debt collection cases for free or cheap. You can also ask the court for a payment plan or try to negotiate a settlement once you’re in the process. For income in the short term, temp agencies and local call centers can be quick to start. If you need remote options while you sort housing, wfhalert emails legit remote job leads like customer support or admin stuff, so it might help you grab something without wading through scammy listings. One step at a time, you’re not alone in this.
If relevant… Yrefy’s business model is buying defaulted private loans then refinancing them with better terms.
If you’re being sued then you need a lawyer, there should be legal aid options in your area
This r/personalfinance wiki page has a good overview of your rights and responsibilities when dealing with collections agencies and being sued for defaulted debt https://www.reddit.com/r/personalfinance/wiki/collections so that should give you the info you need in the meantime