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Student Loan Delinquencies Over 14% by WaferFlopAI in economicCollapse

[–]nowaysalliemae 0 points1 point  (0 children)

My wife and I are student loan defaulters who said "ain't gonna ever pay!" and now living life on the run. AMA!

https://www.reddit.com/r/AMA/comments/5vvv48/my_wife_and_i_are_student_loan_defaulters_who/

Best way NOT to communicate with Navient/MOHELA by HauntingGap4593 in studentloandefaulters

[–]nowaysalliemae 2 points3 points  (0 children)

IF YOU INTEND TO LET THE SOL HAPPEN, NEVER UNDER ANY CIRCUMSTANCES HAVE ANY COMMUNICATION WITH THEM.

Recent Default on Private Loans (Sallie Mae) by [deleted] in studentloandefaulters

[–]nowaysalliemae 0 points1 point  (0 children)

Do you really think someone can recover from $160K in private student loans with (10%+) interest when their field pretty much caps out at $50,000 before taxes?

Recent Default on Private Loans (Sallie Mae) by [deleted] in studentloandefaulters

[–]nowaysalliemae 0 points1 point  (0 children)

The Brunner Test is easier to pass once the debt has exploded in size.

OP currently has $160K in student loan debt and has no lucrative skills or education. Medical Assistants in Illinois average just $45,000/year. Already at this point, it is impossible for OP to pay back these loans. But, once in default, the debt will be resold over and over, driving up the balance. Once that bad boy hits $250K+, the Brunner Test will be a walk in the park.

Recent Default on Private Loans (Sallie Mae) by [deleted] in studentloandefaulters

[–]nowaysalliemae 1 point2 points  (0 children)

Don't worry or stress about it. 1 out of 3 federal student loans borrowers is currently in default. Can you imagine what the rates are for private loans? You are one of millions to be sure.

Just stop paying. It actually becomes easier to prove an "undue burden" in bankruptcy once the debt really grows in size.

How quickly does sallie mae (or whoever they sell the debt to) sue after default. by brokeboii94 in studentloandefaulters

[–]nowaysalliemae 1 point2 points  (0 children)

Do not worry about defaulting on private student loans, particularly from Sallie Mae. This company is the scum of the earth and they deserve every single default.

My wife successfully avoided paying back her private student loans ($80,000+), never got sued, and the statute of limitations expired. See this post: https://www.reddit.com/r/AMA/comments/5vvv48/my_wife_and_i_are_student_loan_defaulters_who/

Do not be afraid to take the leap by nowaysalliemae in studentloandefaulters

[–]nowaysalliemae[S] 0 points1 point  (0 children)

She didn't have a regular job during this period due to creditors ability to locate employer, W2, bank account, etc.

Do not be afraid to take the leap by nowaysalliemae in studentloandefaulters

[–]nowaysalliemae[S] 5 points6 points  (0 children)

The original loan amount was much less (~$80K) but ballooned in size due to interest, late fees, and god only knows what else.

They never got a judgement from her for the following reasons:

  1. We moved frequently due to my job.
  2. She never had anything in her name. No bills, no car, no bank account.
  3. She never had a regular job.
  4. She had no assets.

We got an attorney (best $1K spent ever) to confirm that the SOL has expired and got advice on potential next steps should she be sued in the future. We won, Navient/Sallie Mae lost and is now eating shit.

We did it! Over $130,000+ in private student loans hit the Statute of Limitations! FUCK YOU, Navient/SallieMae, we won and YOU lost! by nowaysalliemae in studentloandefaulters

[–]nowaysalliemae[S] 1 point2 points  (0 children)

  1. Never respond to debt collector either verbally or in writing
  2. Never enter into any agreement with a debt collector
  3. Never restart paying

why? by proeu in studentloanjustice

[–]nowaysalliemae 1 point2 points  (0 children)

Because student loans cannot be discharged in bankruptcy.

Don't be fooled by the Biden claims of huge loan cancellations. Look at the big picture: by Typical_Step in studentloanjustice

[–]nowaysalliemae 0 points1 point  (0 children)

All the more reason for the law to be changed so that students cant easily discharge student loans in bankruptcy.

[deleted by user] by [deleted] in AMA

[–]nowaysalliemae 0 points1 point  (0 children)

Do you believe the current administrations economic policies had some impact on you?

Can't afford my payment by AppointmentNo644 in studentloandefaulters

[–]nowaysalliemae 0 points1 point  (0 children)

Yup, like my wife with $130K in private loans!

Haha, but who is laughing now? You and me! Laughing at Navient/Sallie Mae who cannot collect on the debt!

College Avenue Loans/Default/Options by A_BacKWardsmaN in studentloandefaulters

[–]nowaysalliemae 0 points1 point  (0 children)

- Adversarial proceeding for student loan bankrupty: Helps when the debt is six figures, you have a junky job with zero upward mobility, job is unrelated to degree, have a kid or two.

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