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I like a lot of other people believed
that borrowing the money for college would allow me
to successfully be a contender for a good paying job.
When I graduated from Wichita State University in
May 1990 I had $36,000+/- in Student loans.
After completing college in May 1990 I was able to
advance in the Sears Telecatalog organization.
I was promoted in Nove 1992 from a Supervisor to a
Customer Service Manager and 3-months later Sears
announced the close of the catalog business.
My marriage dissolved and for the next 3 1/2 years
I worked my way up from $5.15 per hour to making $10
per hour working temporary jobs. In May 1998
I was hired by Bombardier/learjet Inc making approximately
$3,000 per year but by then my student loan had almost
doubled in amount owed with payments of $600 -700.00
per month. I have never been able to pay the full
payments and in Mar 2005 I was laid-off from Bombardier/Learjet
Inc and am now working for $8.50 per hour. My
taxes were under-withheld for 2005 and I owe
about $3000 to the State and Federal government.
My oldest daughter is 22 years old and (against my wishes, knowing we couldn't handle it) my wife decided to take out about $38,000 in student loans thru Sallie Mae on our daughter's behalf nearly 4 years ago believing that it was "unfair" for her to be in debt right out of college (even though 99% of the kids out there are and this is just a fact of life). Our daughter graduates next year. I do not have my name on the Sallie Mae loan nor did I have any dealings with any of it. My wife was gainfully employed as am I. She made great money and I make a respectable amount of money.
I deployed to Iraq and while deployed, my wife lost her job of more than 20 years (company closed). Since I returned 7 weeks ago, my phone has been ringing off the hook from Sallie Mae. This was my first indication that the loan was in default. My wife has another job but it pays much less than 50% of what her previous income was and she had quit paying on the loan. She has also filed bankruptcy (I did not). Of course this doesn't make the Sallie Mae loan go away.
Anyways, they were calling and I was answering and they were wanting their money or they threatened me that they would take the "next step". I told them to do whatever it is that they needed to do as that was their only option and that she didn't have the money. They got somewhat rude with me when I explained the situation, advised me that her bankruptcy didn't negate the Sallie Mae loan, which I advised them that I already knew and they would take action against me as well. I explained to them that they could not threaten me in this manner as I am not on the loan. They informed me that under the laws of our state, they could do just that. I told them that they were wrong as Kansas is not one of the 13 states that considers these loans as "community property", that they were barking up the wrong tree and ended the call. They continued calling every day, 4-9 times per day and I just quit answering the phone. I started thinking about this conversation and it started me to thinking that they really had no legal right to discuss my wife's loan or it being in default with me as the account is not in my name whatsoever.
Today the phone rang and I knew it was them so I answered as I wanted to make this clear to them. The man asked for my wife and I told him that she wasn't there and asked if I could help him. He stated he was from Sallie Mae. I asked him what he wanted and he advised me that the loan was in default. I advised him of the situation and he said "We want our money". I told him to pursue their next course of action as we didn't have the money and that this now made the second time that they had discussed a delinquent account with someone other than the account holder, which they shouldn't be doing. He said "We'll come after you sir and the law allows us to do that." I explained to this young man that they had no legal authority by which to do that according to the State of Kansas and he interrupted yelling at me "WE WANT OUR MONEY BITCH!" Well, I don't have to tell you how the rest of the conversation went but it was to the effect of much foul language on my part and other stuff that I can't go into on this forum. When I was done with my rage, the guy from Sallie Mae had already hung up.
I was amazed at the lack of professionalism on the part of these people. I can't stop what has happened, nor can I change what is going to happen. But I don't deserve to be threatened as I had no part in any of this activity. They are, in my opinion, blood sucking parasites who hide behind a telephone.
I understand that they want their money. I understand that they should go after my wife for her non payment, which directly affects our income and inability to pay our other bills, but don't call me and threaten me when I have no part in this. I'm already dealing with enough BS from the financial strain that has and will continue to occur as a result of these kinds of decisions and I don't need some unprofessional lackey hiding behind a telephone talking a talk that he can't back up and threatening me.
Just a rant, but these "people" are driving me over the edge. Stay away from Sallie Mae.
I received two student loans in the
early 1980's for a total of $5500. After graduating
in 1982 I was unable to find work and defaulted
immediately. In the early 1990's, after being harassed
at my work for months on end, I agreed to consolidate
the two loans into one and issue a series of predated
checks to a collection service to stop the harassement,
increase in interest, and restore my credit (or
so I was promised). Hard times fell and I defaulted
again. Since that time I have consolidated the loans
twice more and defaulted twice more. The upshot
of all this is that my wages have been garnished
for approximately 4 years and I have paid over $12,000
toward the loans (I suspect the figure is higher
but this is what the DOE says I have paid since
2003) and I still owe $20,000!! To sum it up: I
have paid over $12,000 on a $5500 loan and still
owe $20,000. Somebody HELP me stop the madness!!!!
I left school in 1995 to take care of my two daughters. I can't remember the exact amout I even borrowed, somewhere around $12,000 maybe. A couple years later I was convinced by Sallie Mae (I think) to consolidate with my boyfriend to save money. We were married for a short time, then divorced.
I am now the mother of six children and a great
new husband and a debt of over $42,000. My ex-husband
refusses to pay! "Direct Loans" says there's
nothing they can do, my name is on the loan first.
I signed up for the income contingent plan, but
I don't even pay half the interest it collects for
the month! My husband thinks we'll never be able
to buy a house or another car we so desperately
need. I've even called to get my payment postponed
for the month but the tell me without my ex-husband's
permission they can't do it. He refusses to help!
Someone please help me!!!!
Well it all started about 25 years ago when I lost my wallet. Someone got the great idea to use my name and ssn to obtain a student loan.( I hope he spent the money on something good! ) Well in May of 2002 I get this letter from the Dept. of Ed. stating that I owed them over 7000.00 dollars on a student loan. When I called them about it they called me everything but a liar . I explained to the person on the phone that I have never had a student loan. Then this person says YOU CAN GET A DISCHARGE IF IT IS NOT YOUR SIGNATURE ON THE NOTE . So I ask for the forms needed to complete this task. Take it at mind this loan is over 16 years old now. So when I get the forms and fill them out , I come to this little section that asks for a document that bears my signiture from that time period. YEAH RIGHT! Who saves cancelled checks, old loan papers, tax forms, drivers licenses, ect. for 16 plus years ? Well I don't. So I send in the form with a letter stating that it is impossible to come up with a document that old. Along with a statement from my ex-wife stating that this was not my signiture and that I never attended this school. THEY DID EVERYTHING BUT CALL ME A LIAR again. Well I fought this thing for several years and they decided to slap me with a tax offset. Then after 2 more years they go after my wages. So I make a deal to start paying on the loan so my wages wont be touched. Well now I am out of default and I find out that even if I had applied for a loan back in 1986 , I probably would not have gotten one. You see I am A high school drop out . The highest grade that I completed was the 10th. And to top it all off the loan was for a computer course through AMERICAN MOTORCYCLE SCHOOLS. I DON'T CARE ABOUT COMPUTERS!! This one belongs to my children. So now I am hoping I can get a discharge on that fact.
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