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Large Student Loan Debt the Borrower Can't Repay

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  • 09-24-2013, 07:12 PM
    Clemmie
    Large Student Loan Debt the Borrower Can't Repay
    My question involves collection proceedings in the State of: Iowa. Hi everyone. I hope someone can even give me a little bit of information. My son was incarcerated for 5 years. He got tons of notices regarding student loans. We have had notices from debt collectors such as Performant, EOS, William and F____. 2 have sent verification of the debt which is now full of interest, collection fees. He was only in school 1 year then the second year had an operation and could not finish. We are paying $50 a month on one but they just keep coming. There is no way he borrowed what is now about 35,000 for school. He has signed an ROI for me to speak for him since I am a Social Worker and used to dealing with many, many different personalities. Is there a way to get some of the interest and fees forgiven. One place says after 6 payments we can apply for the Federal Rehabilitation Act - not sure what that is. There is no way he can make all these different payments. Can they be discharged in bankruptcy? It took a year after he was released to even find a little information about what loan was what, etc. Any advice? I don't even believe some of these people!!!.
  • 09-24-2013, 07:15 PM
    Dogmatique
    Re: Advice on Student Loans/Debt Collection
    Student loans are notoriously difficult to discharge in bk - google "Brunner Test" and see what you think.

    Given that your son is an adult though, it would be my advice to let him deal with things. He was grown up enough to get himself incarcerated for 5 years - let him fly with his own wings.
  • 09-24-2013, 11:06 PM
    Mr. Knowitall
    Re: Large Student Loan Debt the Borrower Can't Repay
    Quote:

    Quoting Clemmie
    View Post
    e have had notices from debt collectors such as Performant, EOS, William and F____. 2 have sent verification of the debt which is now full of interest, collection fees.

    How does "we" come into this? Did you cosign? From the fact that you needed a ROI to speak with the collectors for him, it sounds like you're not.
    Quote:

    Quoting Clemmie
    There is no way he borrowed what is now about 35,000 for school.

    Does he deny borrowing the money? Have you asked to see the notes? If you're alleged to be a cosigner, get the notes. If not, let junior deal with it.
    Quote:

    Quoting Clemmie
    He has signed an ROI for me to speak for him since I am a Social Worker and used to dealing with many, many different personalities. Is there a way to get some of the interest and fees forgiven. One place says after 6 payments we can apply for the Federal Rehabilitation Act - not sure what that is.

    Loan rehabilitation is described here.
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