Financial Aid For Online Education and Online Degrees

Re: What is going to happen??

john12345 — Sat, 22 Aug 2009 13:57:35 GMT

Not to worry. You can contact them and discuss with them on your situation. You will not be the first case they encountered.

Re: What is going to happen??

frogman — Wed, 24 Dec 2008 16:53:27 GMT

Just send them what you can afford, that is much better then nothing at all. When my first child was born I couldn’t afford the $2k bill but paid them a little each month for a couple of years. That was better than returning the merchandise (just a little humor thrown in)

Just keep in mind that your minimum payment needs to be above the interest threshold if you want to make headway on the loan.

Like Steve said, be sure to contact them and tell them what you can afford to do, in most cases they would rather receive something.

Repayment of debts is a sign of maturity and you do not want to have that hanging over your head. The feeling that “do I really have to repay this” coupled with the poor lending practices is what has put us in our current financial crisis. Always repay your loans, stick with it for the long run.

Re: What is going to happen??

Cajun — Sun, 21 Dec 2008 06:14:34 GMT

Don't forget that you'll also likely forfeit any federal entitlement programs like social security, etc. It's been done before.

Re: What is going to happen??

SteveFoerster — Sun, 21 Dec 2008 05:28:58 GMT

You'll have bad credit and your creditor will be able to get a judgment against you in court and potentially use that to garnish your paycheck or tax return to get their money back.

If you're having trouble paying back a private loan, consider contacting the creditor and explain the situation and ask for terms. Who knows, perhaps they'll work with you. Considering the economy, it's not like they won't have heard this before.

-=Steve=-

What is going to happen??

momol — Sun, 21 Dec 2008 03:20:26 GMT

Good evening everybody,i just have a quick question,what if i get a private loan and dont pay it back,whats going to happen ?

Thanks a lot .