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Member
Member Since Jan 2014
Location: MI
Posts: 103
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Jan 28, 2014 at 08:06 PM
#1
I have been unemployed since 2011 because of my mental health. I was a student some of the time in those 3 years and managed to graduate last summer, so now my loans go into repayment in a few weeks. I have $100 in savings, maybe $400 in things I could sell if I sold everything I own (no property or cars or anything big ticket). I'm not currently looking for full time employment (or any for that matter, but full time is what matters to the loan company), so I don't qualify for an unemployment deferment. I have no income and am not on govt assistance, so I don't qualify for a hardship deferment. Even if I applied for disability today, which I haven't for various reasons, mainly that my parents who support me don't want me to, it wouldn't happen fast enough to help with this. Anyone have experience in getting loan companies to work with you because you're mentally ill and trying to get better but aren't there yet?
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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
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Jan 29, 2014 at 12:20 AM
#2
Hi. I had a hardship deferment and its been a while but I'm pretty sure it was bc I was on unemployment and had been laid off. If it makes you feel any better I'm not sure I can get the damn thing forgiven and I'm on disability. My pdoc sent them a form stating I was disabled and they said the loan was forgiven. Fast forward a few yrs and now they are contemplating reinstating based on my husband's income. He is blue collar and we are far from being well off. It's infuriating. Somehow they charged us taxes on the $30k remaining student loan last year which was a fortune and out tax atty said it's a new thing. My monthly payments before were $220 on a $40k loan. Right now student loan debt is astronomical in the US. Oh yeah that's right bc other countries don't charge for college. It's sickening and I'm sorry I couldn't be of more help.
Tnt Sent from my SAMSUNG-SGH-I337 using Tapatalk __________________  There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
Erma Bombeck |
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Pandita-in-training
Member Since Sep 2006
Location: Maryland
Posts: 27,289
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Jan 29, 2014 at 09:00 AM
#3
It is not something you can do anything about really. I would not want a deferment as that will just keep the amount growing with interest, etc. If I had the problem, since it would become "impossible" Woman Says She Never Plans To Pay Off Her $186K Student Loan I would make sure when I got married to keep my own name/debts and just live with the wrecked credit, which will probably happen anyway, no matter what you do unless you can hit the lottery? If you cannot pay it, you cannot pay it. Later, if you were to become permanently disabled it could be discharged.
Personally, I would see if my parents or other relative could make the monthly payments and keep track of them and then pay my parents back when I was better (and/or if they had a low-cost loan/credit card to pay the loans off completely and pay them when and as I could instead of the loan people, exactly what they had paid (so no more interest than they had paid; an interest-free loan from my parents). __________________ "Never give a sword to a man who can't dance." ~Confucius |
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Magnate
Member Since Jul 2013
Location: USA
Posts: 2,100
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Jan 29, 2014 at 11:35 AM
#4
Hey there you've exhausted all of the options that I know about; but I will say that as far as the "looking for a job" aspect of unemployment deferment, all you have to do is create an account on careerbuilder or a similar site and that qualifies as looking for a job. I've had an account on there since before my loans were even to be paid for and they give me crappy offerings so I never take them, but I work part time and still qualify for unemployment because I work less than 30 hours a wk. I'm not sure about it in regards to filing for disability and stuff - I don't think you can really get around student loans; from what i've read they are even difficult to get rid of if you file bankruptcy. It really does suck.
__________________ A majorly depressed, anxious and dependent, schizotypal hypomanic beautiful mess ...[just a rebel to the world with no place to go...  ]
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Member
Member Since Nov 2013
Location: somewhereoutthere
Posts: 112
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Jan 30, 2014 at 10:39 AM
#5
Are they federal or private loans? Federal loans can be discharged completely if you're not well and considered disabled. Also, you can get many types of deferments, such as medical and economic hardship. The only thing I had encountered with the loan companies are less willingness with the private loan companies. And I think you can only get a certain amount of deferments per period of time. I'm not sure of the exact time line, you'd have to find out...they will give deferments but they just don't want you to keep getting deferments right after each other for years upon years.
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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
12 297 hugs
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Jan 30, 2014 at 02:53 PM
#6
I also think some loans have been sold off to collections agencies.
Sent from my SAMSUNG-SGH-I337 using Tapatalk __________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
Erma Bombeck |
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