Private College Student Loan

possibility of judgment from debtor?

I am ruined pretty badly. I couldn't get a job with my education neither the type I was looking for would give me a student loan. So I borrowed from bank and credit card and as usual - still no job. I have a family of 3. Went to severe family problem along with separation - what not! Left Canada 2 years ago and now back. No luck on job yet. No asset. No home. All R9 accounts for about 65k. What's the possibility that collection company will chase me even though I don't have job, no penny! Please help!

Public Comments

1. You need to find political, federal and local resources asap. Can you acquire foodstamps to lower your expenses on food? Can you acquire federal housing assistance to ease living expenses? You need to get in touch with your local Transitional Assistance resources and facilities asap! Do not wait - you are supporting a family of three, there is no time to slack(not saying that you are), but keep pushing for government help. I'm serious, I know families that have gotten the assistance they need to make it through the tough times... it can be done.
2. They will still come after you. The calls won't stop. They don't know that you don't have any money unless you talk to them. If you have no money, your only choice is to try to get into some income contingent repayment plan, but I don't know how that works with those kind of loans. I don't think that's possible. I only know about the consolidation income based programs for U.S. federally defaulted student loans. But I do know that the collection companies will not just leave you alone if you don't have a job. They're going to tell you to find the money any which way you can. Paying anything is better than paying nothing. I'm sorry that you are in the situation you're in though with having to take care of your family and not being able to find a job. Hopefully things will turn around for you. Good luck.
3. They will bother you with calls and collection letters. There is no law that says you have to talk to them and there is nothing they can do to get you to pay if you dont have the money. Check with your states fair collection act. You can actually tell the collectors to stop calling you and if they continue to hassle you you can actually sue them... They know that too.
4. File bankrupcy.
5. Do you really think collection companies care about your situation?
6. they will come after you, their goal is to recover the money, your story is nothing unusual, from their prospective. they will say, show me the money.