QUESTION
I have not been working and have been struggling to pay my student loans for the past 8 years.t
Asked on Dec 11th, 2012 on Debtor and Creditor - Texas
More details to this question:
I am a mother caring for a medically fragile child in addition to three other children. Due to my sick child, I am unable to complete my education nor work. My husband is a sole provider for a family of six. with his teaching salary and the need for my growing children, it is becoming harder to pay the full amount the lender is asking. I spoke with them and asked if they would reduce the monthly amount, but refused to work with me. I never stopped paying, but at this point I have no choice but will have to . Can I file for undue hardship student loan discharge? what do I need to do to help ease this process?
1 ANSWER
If these are federally guaranteed, you may want to ask for an income-based repayment program. Check out studentloanborrowerassistance.org for more information. If these are private loans, you are basically at the mercy of the lender for any relief.
Answered on Dec 12th, 2012 at 9:22 AM