Legal Question in Business Law in Maryland

Student Loans

My student loans are defult, it is my

fault but now I am trying to repay

them and the people holding the

account are telling me I need to pay

1100 and 300 a month, I tell them I

cannot affor this and they say pay it

or we garnish. Is there another step


Asked on 4/01/08, 8:59 am

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Student Loans

If these are government-backed loans, usually there is a counselor available who will try and work with the borrower to set up a payment plan within your budget. If they are private loans, you could consider a Ch. 13 plan through a bankruptcy filing that would allow you to set up a payment plan approved by the bankruptcy court. Consult with a bankruptcy attorney for more details.

Read more
Answered on 4/02/08, 11:30 am


Related Questions & Answers

More Business Law questions and answers in Maryland