My question involves collection proceedings in the State of: Utah
I owe $134K to Sallie Mae for private student loans. I graduated in late 2009 and have never gotten them to lower the monthly payment to something i could afford. I am now in the beginning stages of default.
I make (on average) $550 a month with little chance of better pay in the foreseeable future, and am currently 'working' with a collector (meaning, they continuously throw payment options at me that i can't even remotely afford, and I weep, make phone calls and then call them back says i can't make that work either). I am the only person on my loans, so I'm the only one that can be hurt by whatever course of action i decide to take. I rent, don't own a car, and have no savings.
My question is - Am i better off letting them sue me and taking me to court? Will I still be able to pay rent and utilities, and still be able to pay my /other/ student loans (much smaller amount and am current on) after everything? What is the best course of action at this point, and should I be looking at getting a lawyer?