My question involves collection proceedings in the State of: Florida, but soon to be delaware

I am a graduated student debt serf with 100k in loans both private and public at about 50k each.

Even though I learned nothing from my experience, I am not here to contest that, merely to ask for advice which would cost me a LOT of money.


I am currently in deferment on all my loans and make about 49k per year. I am considering default. My monthly payments should be 1k per month but I am right now going to be shelling out about 500 a month. This means that soon I will be screwed financially with barely enough to eat after bills.The kicker is that my new position means I will have to be pursuing my series 7. If I get my 7, then default but do not pursue bankruptcy, can I

A: Lose my job
B: Lose my license
C: have a chance in hell of paying less than I am forced to pay now

I am considering defaulting on the private and public loans and letting them garnish me on the public and putting off the private garnishment til the 11th hour. I realize this will tarnish my credit however I do not care for credit and have others who can care for that need.

Regards