Channahon, IL asked in Collections for Illinois

Q: What to do when a student loan provider demands money?

Dropped out of college 2 years ago due to mental health issues, struggled with jobs and finally have one now but i do not make enough. My student loan provider demands payments but i can’t make their almost $1000 monthly payments when i barely make $300-$400 weekly.. even when i get paid weekly i still have stuff to pay like phone bill, food, gas, clothes, hygiene stuff, other loans i also pay due to being broke i had to keep taking out other loans and my loan provider wont lower my payment because i dont make enough.. but the point of me trying to make these payments.. wouldn’t it make sense for them to lower my payment? They also had the audacity to be like try asking ur family for money or take out of your parent’s 401k like thats not very necessary when i dont even speak to my family nor is it their responsibility to give me money and i am also not taking out of my parent’s 401k. What can i do to resolve this?

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1 Lawyer Answer
Barry W. Kaufman
Barry W. Kaufman
  • Collections Lawyer
  • Jacksonville, FL

A: You took out the loans, now it's time to pay up. The lender is not interested in your personal problems, nor does it have any idea about your relationship with your parents; the suggestion to borrow money was a suggestion, nothing more. There's no need or purpose to you becoming offended. $300-400 a week? You should look for a better paying job. Legally, you have no issues here. Sorry.

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