5090 Shares

I'm being sued for a Sallie Mae student loan and I can't pay, what's going to happen?

I'm being sued for a Sallie Mae student loan and I can't pay, what's going to happen? Topic: Texas state jobs application
June 19, 2019 / By Derryl
Question: Sallie Mae Financial is sueing me for the full amount + interest, etc., of my student loan. It was a private student loan. The amount is almost $7300, and I am unemployed, have no assets except a broken down old chevy malibu, I have nothing. I can't pay. I don't know anything about being sued. What's going to happen to me? Will I have to go to jail? Do I have to file for bankruptcy? What happens then? On top of that, I had a cosigner and she is being sued as well. So what is going to happen?
Best Answer

Best Answers: I'm being sued for a Sallie Mae student loan and I can't pay, what's going to happen?

Originally Answered: Trouble with sallie mae loan?
Federal student loans cannot be discharged in a bankruptcy. However, I imagine since you filed for bankruptcy you could not/would not pay back your student loan. And after nine months of non-payment on your student loan you defaulted. http://www.dixiloan.com/student-loan.html If you default on a student loan you are no longer eligible for federal student aid. This is to protect US taxpayers who had to pick up the tab on your defaulted loan from having to give out more money to such a high risk person. In some cases if you do repay the entire defaulted loan you may regain some eligibilty.
Originally Answered: Trouble with sallie mae loan?
take a seem on the legislations on financial disaster. i replaced into made bankrupt in basic terms in basic terms before recieving my student very own loan. the legislations states that student loans fall out area of the valuables of the bankrupt. u will have not have been given any difficulty with the genuine Receiver in this count.A student very own loan made in the previous or after the start of a student's financial disaster isn't recognized as an asset that the trustee could declare, if a stability of the non-public loan keeps to be payable. e genuine Receiver in this count.

If you have your own answer to the question texas state jobs application, then you can write your own version, using the form below for an extended answer.