QUESTION

I am 53 yrs old & in debt for 150,000.00 in student loans for a loan of 1800.00 I took out in 1992. How can I get this removed. I can't pay this debt.

Asked on Jul 21st, 2011 on Debtor and Creditor - Missouri
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I am 53 yrs old & in debt for 150,000.00 in student loans for a loan of 1800.00 I took out in 1992. How can I get this removed. I can't pay this debt.
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1 ANSWER

DWI Defense Attorney serving St. Louis, MO
Partner at JCS Law
3 Awards
Your student loans must be repaid. I suggest talking to your lender and looking into an income contingent repayment option. You may be able to settle your other debt for less than the amount owed. Typically debt collectors will offer settlements after a period of nonpayment. An attorney can negotiate a settlement for you. I typically have good results in such cases, but you do run a risk of being sued for nonpayment.
Answered on Oct 30th, 2011 at 9:52 PM

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