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This is different from the usual questions but I need to ask it. I have a private loan from Sallie Mae (yuck), what happens if I stop paying it? Of course when they call or I call them I will say "look, sorry but I cannot afford to pay, its not that I don't want to, its that I cannot afford to right now, I will pay when I can" Would they just put me on forbearance? What if I flat out don't want to pay them back unless by some miracle I win the lottery in the future and have money to spare? What does this do to my credit history and anything else that might be affected? Would they come after me hardcore?
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Jun 14, 2007 23:41
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Wiggy Marie posted:potatoe_chip, yes, they would come after you. As VideoTapir stated, they would delight in nothing more than for you to do just that, because I assure you, a delinquent borrower actually makes them more money in the long run (more interest to pay). But besides writing me angry letters and annoying me on the phone and ruining my credit, theyre not going to come beat me up or get me arrested or repo my things or take my bank accounts will they? And they wont try and settle like credit card companies do, for much less money?
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Jun 15, 2007 12:05
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