My question involves collection proceedings in the State of: OHIO
I just want to be prepared for what defaulting on my private student loans will be like.
I assumed most of this debt in the days when private lenders were handing out student loans like it was no big deal. I was an irresponsible IDIOT and figured they wouldn't loan me more than they knew I could pay back...not really thinking about the bigger picture.
To add insult to injury I filed for bankruptcy 2yrs ago (fully aware student loans would not be included and could not be discharged)but was unaware about the "fine print" in most private lender agreements that says they will automatically default your loan at the first whiff of bankruptcy...and I haven't even graduated yet (2 months to go).
It is not my intent whatsoever to default on my private loans, but I already have several lenders in the process of doing so (due to bankruptcy). Not to mention that the first year after I graduate I'm pretty sure I won't be able to afford my $1200+ private student loan payment.
So, I'm just trying to face the harsh reality of my REALLY BIG mistake and prepare myself for what could go down when I default on my private student loans. Please do advise.