21 April 2006

Evil Student Loans

Okay I have a tremendous student loan debt. It's greater then my salary will ever be. I can't afford to make payments as of yet. I have no idea as to when I'll be able to. I have used up all my deferments and forbearances. However, according to the formula that determines whether you qualify for an economic deferment I still qualify. (It’s a convoluted menagerie of add this, subjact that, times this, divided by, etc., etc.)

However, one is only allowed to have three economic deferments. I have had four. I am not being given another. Currently I am on an emergency economic deferment. It last six months.

I have spoken to one moron after the next at the company that services my loans. They have informed me that I have no options and that I must pay my debt. I tell them that I would like to pay my debt, but I cannot. I add that y'all have my paper work. You know what I make. You see by your formula I still qualify. They say, yes, but you can't have anymore and that I was already given an extra hardship deferment. So, I now need to pay.

I say, yes, but I DON'T HAVE THE FUNDS TO DO SO! They say, my loans will go into default, which will go on my credit record, and then they will garnish my wages and social security. I say, great! So, you will destroy my credit and take away the funds I need to live on. Well, let's see here. I lose my car because I can't make the payment on my note and then I lose my apartment because I can't afford the rent (this is why I haven't bought a house yet, I knew this was coming). Therefore, I eventually will lose my job because I can't bathe and I will STINK!

They say (after a pause), well you need to be responsible and pay your debt. I say, YOU FRACKING MORON, IT'S NOT RESPONSIBLE TO DESTROY SOMEONES LIFE WHEN IN THE END YOU STILL WON'T GET A FRACKING DIME! (click –phone goes dead)

This is what I have been dealing with the past year. So my emergency hardship deferment expires in a couple months and I have to apply for another. It is up the discretion of the company whether to give it to me or not.

Last month I receive a letter stating my servicer is transferring my loans to another company. In this case, CitiBank. I called them to find out if I have any options. Well, again the above written paragraphs are what I got. So nothing changed.

I got home from work today and found a letter from CitiBank stating when my deferment ends my payments will be $1,805.31! I about had a stroke. Hello people, I went to art school! I am a creative individual, not doctor!

The last company I was with my payments were to be $695.00 and that was on the graduate increment payment. I believed it was the maximum it would go. Now this. WHAT THE FU@#!

I decided instead of calling them right there and then in my heated state of mind I would go for my six mile walk and burn off some steam. It didn't help. Oh, there was a cute guy that I said hello to a couple of times that took my mind off it all for a few moments, but it didn't help. I think I am going to wait until Monday to find out what this is all about. BASTARDS!

I said this before and I'm going to say it again. The Vortex of Goo is EVIL! It is sending out the big guns to destroy me, to make my life as hellish as possible so I cannot make a transition easily. This makes number two. I wonder what number three will entail?


Emma Cabrera said...

You need to talk to a lawyer or an accountant or both!

The creditors are trying to scare you into paying and obviously it is working. Next time you call them, simply say this - "I cannot afford to pay you the amount that you have listed. I will however, send you $400 a month. That is all I can afford, so stop harassing me."

You also may want to look into transferring your account to another company, because CitiBank is the devil.

Robert said...

Yeah, I think Emma is right. Tell them how much you can afford per month, and 'em nasty creditors, they'll take almost anything!! They never refuse $$!

Sorry to hear about this. So they want $1800 per month?!? Almost tripled on what you were paying! Oh lord! Sorry Babe!