debt of honor
Old defaulted Student Loans-what to do?
What to do, I am in a financial mess. I had a long-term illness and my student loans went into default. I just didn’t have the energy to deal with it and after 20 years collection agencies are now calling me-again.
I’m getting my other bills paid and have now been working since I’ve regained my health. But to pay off these loans would mean putting my life on hold…again. I want to start my own photography business and buy a house. Suggestions? I want to honor my debts, but the reality of successfully paying these off ($70,000) is overwhelming.
First of all, I doubt you will be able to buy a house with a defaulted student loan so it’s definitely worth the effort to get it out of default. Many people always seem to suggest bankruptcy but you can’t do that either. So here is my suggestion… start repaying. Pay a reasonable amount you can afford and pay it every month. Then at least you can tell the mortgage company you are trying to make good.
