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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
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#1
I got a review on my student loan payments. My loan is in a probationary forgiveness and will be reviwed for final disability discharge in a couple years. The key information I give has nothing to do with medical compliance or health status. The only thing they ask is was I employed for years xyz. So, PT work may pull loan payments into an active status.
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sideblinded
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Elder
Member Since Jul 2014
Location: Iowa
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#2
I hope all of this works out for you. Things can seem so complicated. I really dislike all the hoops we have to go through to qualify for things!
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thickntired
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Legendary Wise Elder
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#3
"My understanding " is that the only way to end the responsibility of your loans if you are found to be 100% disabled.
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sideblinded
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Poohbah
Member Since Feb 2012
Location: South USA
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#4
__________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
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Legendary Wise Elder
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#5
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I personally would get in writing /print out showing the rules regarding your situation, so that is say student loans hit your credit report it can be removed. I never trust "John Doe" with any verbal answers. __________________ Helping others gets me out of my own head ~ |
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Mindful55
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Poohbah
Member Since Feb 2012
Location: South USA
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#6
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__________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
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~Christina
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Member Since Jul 2014
Location: Boston
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#7
If you don't mind my asking, what were hoping for when you wrote this post? Support? Advice? Something else? Combo?
If you want advice, it would be helpful to find out what kinds of loans you are talking about, federal, private Navient/Sallie Mae loans, etc. There's different rules for different types of student loans. I hope it works out for you. Living off disability and having to make student loan payments shouldn't happen, or at least should be regulated. |
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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
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#8
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__________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
Erma Bombeck |
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Member
Member Since Jul 2014
Location: Boston
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#9
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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
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#10
__________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
Erma Bombeck |
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Member
Member Since Jul 2014
Location: Boston
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#11
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I can't tell you how much of a burden student loan payments are for me. None of the public programs, food stamps, rental assistance, etc. take student loan payments into consideration. It's a nightmare. |
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Nobodyandnothing
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Down.and.out, Rose76
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Grand Magnate
Member Since Apr 2010
Location: Colorado
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#12
I am on SSI disability, and still have student loans in deferment, as far as I know being on disability I shouldn't have to be making payments...it was federal loans and thus far have just kept it in deferment.
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Poohbah
Member Since Feb 2012
Location: South USA
Posts: 1,471
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#13
That's awful Joe. I didn't know you were on ssdi. My loan was through Sallie mae initially I believe. Nelmet is who I contacted re disability.
__________________ There is a thin line that separates laughter and pain, comedy and tragedy, humor and hurt.
Erma Bombeck |
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Member
Member Since Jul 2014
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#14
Meant to post this earlier: I'm Disabled and Sallie Mae Won't Discharge My Student Loans*|*Steve Rhode
Additionally, I don't mean to stir anxiety, but I will be interested in learning what happens tax-wise once the discharge is final. Loan forgiveness is sometimes treated as taxable income. I am not wishing that on you OP and hope all will be approved. And if this tax scenario were to come to pass, the IRS might have a program to forgive those taxes. Last edited by JoeS21; Jan 11, 2015 at 11:00 PM.. |
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Grand Poohbah
Member Since Jan 2013
Location: USA
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#15
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Legendary
Member Since Mar 2011
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#16
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An option can be to simply default and let the statute of limitations run out. The result is pretty much the same as having done a bankruptcy. And when that time interval runs out, the credit companies will be begging you to take out more credit cards. (Of course, this is no help with student loan debt. No statute of limitations applies.) A friend of mine who defaulted on $12,000 worth of credit card debt, back in 2007, is now getting offers of more cards. He just accepted a card with a limit of $1500 that has an interest rate on purchases of 11.7%. (Pretty decent terms.) It makes me wonder what the heck these banks are doing. I have told him not to ever lie on an application, as that can be construed as fraud. There is something wrong with this whole scenario. Banks are deliberately offering credit to people whose checkable background shows them to not be credit worthy. I get offers and I'm not credit worthy. Something more is going on than meets the eye. This is a case of the bank knowingly setting up assets in "accounts receivable" that it knows are very, very shaky. I'm wondering if they are basically selling that debt on the market to stupid investors, but I can't believe that the market is that stupid. This is why I have great interest in anything that Senator Elizabeth Warren has to say. She's the only one out there, front and center, telling us that these banks are still pulling crap. She also has a lot to say about the crime of the huge student debt load that this nation's young are carrying. Plenty of other senators and congressmen know what she knows, but they don't talk about it. In the case of the student loan debt, the colleges are as dirty as the banks, IMO. People used to joke about mail order degrees being offered by disreputable sources. Well, if you show you show up with the funds to attend, a lot of supposedly respectable colleges are basically selling degrees. (I see students who are not really up to a the university programs that they are in. As long as they show up for classes, a lot a badly written papers will be allowed to slide through.) And they've got a cadre of experts on campus to help you get student loans. |
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