I Was the Biggest Jerk to Get So Buried in Student Loans
Posted January 7, 2015
I have $130,000 in private student loans from Wells Fargo, Sallie Mae, Citibank and Discover. The minimum monthly payment is $1,595. Since graduating in 2011 with a liberal arts bachelor's degree, I've made monthly minimums through myriad part time jobs, usually several at once, odd jobs and temporary positions through a staffing agency--never finding full time work and nothing within a million miles of my degree field.
I lost the temp job I did have the Friday before Christmas and the loan companies are already escalating contact with me and my family (both parents are cosigners because I was the biggest/STUPIDEST jerk alive in 2008 and I wanted to go to a private liberal arts college.)
I called and begged for mercy beforehand, but there is no mercy to be had. No legal recourse, excellent or otherwise: as of December 28th, 2014 I've stopped paying my student loans altogether.
WRAL Get Out of Debt Guy
If you have a credit or debt question you'd like to ask about, how to get out of debt, just click here and ask away.
If you'd like to stay posted on all the latest get out of debt news and scam alerts, subscribe to my free newsletter.