As you’ve read from my previous posts,
I was the Master of Financial Disaster.
By not paying my student loans in a timely fashion,
it has cost me many, many thousands of dollars in late fees,
penalties, collection fees and other miscellaneous fees.
I’ve paid over $11,000 just in the last 2 years
from garnished wages.
PLUS… the forfeiture of my state […]

As you’ve learned from my last post,
I ignored my student loan for years, many years.
Nothing much happened.
Yea, one day years later, they found my bank account
and froze it. Cost me a few hundred dollars.
I’ll survive.
All right, they started taking my income tax return
money. Damn, that hurt. But Life goes on.
Life is still good, all is […]

As we’ve just discussed, many not-so-pleasant things
can happen to you if you don’t pay your student loans.
Here’s what happened to me.
You start getting letters asking you to pay.
When you ignore them, you start getting more letters.
One day a letter comes saying - This is your FINAL notice.
I thought “Good, at least I won’t have to hear from
them […]

Student Loan Borrowers who don’t make payments for 270 days
are in default. Defaulting has severe and long-lasting consequences:

The Department of Education can immediately demand
repayment of the total loan amount due.
The Department of Eduction will attempt to collect the debt and
may charge collection costs.The Department of Education reports
defaulted loans to national credit bureaus, damaging borrowers’
credit ratings […]

When I was unable to secure working papers to continue working
in Nassau, Bahamas, the work quickly dried up and my cash flow
was interrupted. I did what many red-blooded Americans do…
Live on credit cards.
I was living near the beach, beautiful weather, beautiful women,
fresh air, peace and quiet. It was a good life…
…Until I maxed out all […]

Student life, I know for a fact is one of the most exciting parts of
life that most of us may wish to relive. The fun, the independence,
the sudden shouldering of responsibility, the freedom, the parties…
Studying up to late hours and hard work put in to build a promising
future are all part of the same game. […]

Studies show that two-thirds of students have significant student
loan debt coming out of college. Ten percent of them owe
$35,000 or more. Are you one of them?
If so, don’t panic. Stop, take a deep breath, and read on for tips
on how to make repayment as painless as possible.
The goal of our community is to provide you […]