More people than last year believe they are going to NEVER be able to pay off
Student loan debt is a big reason.
Nearly one in five consumers with loans?said they assume they will never?be able to finish reducing their debt, according to survey released Wednesday by CreditCards.com. That is certainly double the nine percent who said they felt that way last year.
From a Washington Post story by Johnette Marte how Americans feel they will never pay back debt.
Student loan debt is a big reason for this, as, even as some other type of consumer
debt decrease, old reliable student loan debt goes up and up.
Many people are struggling to pay down student loans. And perhaps people who are working may feel stuck in low paying jobs maybe in jobs that don\’t match their skills.
Of course, the older folks are, the less likely they feel they\’re going to be able to repay all their debt.
Student loan installments can go on longer than 30 year mortgages.
And more golden-agers are on the hook for student education loans, having co-signed for kids, or even grandkids, or, having still not payed off their own loans.
Well, I have never heard about someone being turned down for a student loan.
I had a client who started borrowing AFTER she turned Six decades of age.
It is tough to get student loan debt discharged in bankruptcy. ?You will discover payment plans for government so to speak . that may work for you.
Or, you might get lucky, and win case by a private student loan lender filed against you in state court.
The one suing, the plaintiff, will have to prove the case.
So, if a student loan lender sues you, they can be compelled to prove that you do, indeed, owe them the money.
Student loan debt is bought and sold similar to mortgages and credit card debt.
If the financial institution is sloppy on the paperwork, you might win.
From the story linked to above:
It been found that Sallie Mae had more to get rid of than me: Kevin discovered, and dropped at the attention of the court, that in three of the four suits, I was being sued by a business C \”SLM Education Credit Finance Corp\” C that wasn\’t even registered to do business in New York State, additionally, the plaintiffs couldn\’t produce any evidence the fact that entity in the fourth suit C \”SLM Private Credit Education loan Trust VL Funding LLC\” C even exists.
if you might need a lawyer who can do this, send me a email.