What can I do if I have unpaid student loans? How? 4 Answers as of September 02, 2015

I consented to a student loan law suit against me but they are asking me to fill out financial papers. I am self-employed and my business is not making a profit. I am taking a lost. Are there anything I could do to set up a payment plan so I can stop the bleeding from the interest rate? That is killing me. I don’t have extra money to give them and each day it is building up. What should I do? Is there any programs or any grant I can seek to pay off this federal student loan?

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Yes, you should call us we can put your loans into a reduced payment plan and see if you qualify for any principal forgiveness programs.
Answer Applies to: New York
Replied: 9/2/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
The federal loan programs do have several programs to assist low income borrowers, but you do have to disclose financial information to allow the system to determine if you are eligible. After all, you cannot get food stamps and be earning a six figure income, and people lie so much that the government now requires everything anyone says to be documented with financial records. Your only other option may be to structure a repayment of this debt in Chapter 13. Otherwise, with a court judgment you consented to, this creditor has nearly unlimited access to taking your bank accounts and other assets. If your business is not making a profit, maybe this is a sign that you need to find a job that will allow you to pay this and your other debts.
Answer Applies to: Nevada
Replied: 9/2/2015
Ronald K. Nims LLC | Ronald K. Nims
There are income bases payment plans available, go to the department of education's website and check them out.
Answer Applies to: Ohio
Replied: 9/2/2015
Law Office of Joshua R.I. Cohen
Law Office of Joshua R.I. Cohen | Joshua Cohen
You should have gotten a lawyer. You beefed these and get breaks in the interest as part of the agreement. There isn't much you can do. Pay it for now and see where you are in a few years.
Answer Applies to: Connecticut
Replied: 9/1/2015
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