Student Loans

[TexasGolf]

Any advise would greatly be appreciated. A friend of mine has student loans from '91 in CA. that have resurfaced for him. The company has bought the loan from the college and is pressuring him in various ways. What are his options at this point. With interest the amount is $20K.

Thank you in advance.

 

[idigTexas]

I advice your friend to pay them back. Is there a reason this isn't happening? Does the new company want the whole amount or something? What sort of threats are they making?

 

[KaiserSoze]

I don't think I understand the question. The scenario sounds like he took out students loans and never paid them back. The solution is to pay it off... pretty simple.

 

[iamhorn]

He's lucky his life hasn't been made hell the last 14 years.

 

[sessamoid]

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[Dr Fear]

tell him to quit being a degenerate any pay them off. Thats nothing. After my last year of law school next year I will owe +100K.

 

[tropheus]

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[BA93]

He should call them up and figure out a payment plan. Ignoring them doesn't make the problem any better, its make it worse.

 

[Holden]

You can get rid of student loans through bankruptcy, but there must be an undue hardship demonstrated in order to do so. $20K probably is not an undue hardship, but who knows the rest of the story.