dude your screwed —- should have gone to a community college for 2 years.

starting Oct 14 2005 you want to claim bankruptcy hire a good lawyer.

You owe the government, and we are the government…taxpayers. if you default it costs us all. Interest rates will go up for other students, and loan choices may be limited. This bureaucracy must be covered by the taxpayers. Get off your lazy butt, get two or three jobs if you must, and fulfill the PROMISE you made. Restructure your loans if you have to!

You can NOT file against student loans. No way, no how. If you fail to pay every job you have from now until the day you die your wages will be garnished. Trust me. I don’t care what some s–t house attorney tells you, you can’t file against student loans. If you are having trouble, call them and they will work things out with you so you can pay it back. But don’t default, if you do, they will take it out of your azz one way or another. Believe it!!!

Talk to the agency that services your loans. They can probably work with you.

Don’t duck out of your commitments.

Bankruptcy will totally screw up your credit rating. Call the loan provider and try to work out a realistic payment plan. They would rather get something than nothing, so it’s in their interest to help you work it out.

I know your pain. I also have over 100k in loans. Have you worked with your loan company to have income sensitive payments instead? They should work with you as they do not want you to default. It’s extremely difficult to have student loans discharged. Regarding bankruptcy, this is what I found on the net:

“You can rid yourself of student loans through a bankruptcy if they represent a substantial hardship — but that is very difficult to prove.

To have a student loan discharged, you have to prove three things, says David Light, managing editor of Consumer Bankruptcy News, a Florida-based newsletter:

*You can’t keep up with your payment schedule
*Your future inability to pay and that your financial situation is permanent
*You’ve made a good-faith effort to pay

Good faith efforts include being as fully employed as you can be, being upfront with the lender, and presenting evidence that when you had money you made payments. What courts don’t like to see is that you were fully employed and didn’t pay, or you used an inheritance to buy a car, Light says.

It is the most difficult to prove hardship when you first come out of school, primarily because you don’t have any history of not repaying the loans.”

You pretty much can’t. Why haven’t you taken one of the $30k jobs? At least then you would be making something and getting experience. Now you are just being a lump. Get a job, pay your debt and work your way up to more money. And next time, do a bit of planning and research in advance to see if what you are dropping your money on is actually worth it.

If you had a federally funded/subsidized loan, you can’t declare bankruptcy to avoid it. Even if you do declare bankruptcy, you will still owe on your student loans. Back around 15 years ago, some smart college graduated did just that, declared bankruptcy to avoid paying their loans. The federal government changed their loan practices so that students could no longer do that. Look back over your paperwork, you’ll see that its what you signed for.

Do what every other young person does with a crappy job, go to grad school! Your loans are deferred as long as you’re in school.

I’m sure your student loan company would be able to work out a graduated repayment plan or forbearance with you. Most are pretty reasonable.

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