I am 61 years old and have student loan debt in my name for two of my daughters. One has been brain injured in an accident so her promise to pay is a moot issue. Is there any way her portion of the loans can be cancelled. The loans in her name are in the process of being cancelled due to the fact that she will never work again. It has been a long process but in my case they say they ae in my name so it is a no go.My loans defaulted to NYSHEC and I made arrangements to pay and after my first payment they prompty sold them back to SallieMae and the process started all over again. If I could get rid of the one daughter's loans and interest it would be a lot easier. Is dying the only answer?
State/Country relating to Question: New York
Deferrment and forbearance, I make $30 over the limit for income sensitive payments, interest only is too much also.
As an aside, due to my ex-husband leaving me $30,000 in debt I had to file bankruptcy and paid $8,000 to the student loans and worked two jobs to do it. It has been 10 years since this happened and have been deferring and forbearing since then. Someone on the SallieMae line told me there is a process where I can "start over" and earn back my deferrments and forbearances.
Student loans MAY be forgiven in bankruptcy but are very rarely forgiven by the bankruptcy courts. Unfortunately, student loans, absent showing some significant financial hardship, are really something that just do not go away. There is a process where they will recalculate your loans and cancel out the deferrment and forebearance time, but you still end up having to repay the loans with the interest and it is just something that is one of the hardest things in the world to make go away.
I hope you found my answer helpful, please click on the GREEN ACCEPT for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!
If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.
Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.
There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.
Use of this service does not create any attorney client relationship. Any information provided is not the practice of law but intended to direct you in finding an attorney in your locale.
You can always request me through my profile at http://www.justanswer.com/profile.aspx?PF=10285032&FID=39 or beginning your question with “For PaulMJD…”
I understand and agree and being able to get my forbearances and deferrments back would be helpful.
In your opinion would it be helpful to contact a local attorney who could help with just the portion of debt owed for my disabled daughter or is that a losing battle? Also, what kind of an attorney would be best suited for this.
Unfortunately, getting these debts wiped clean is pretty much an impossible battle and hiring an attorney would likely be a losing battle. For the disabled daughter you could apply for a discharge of the loan based upon the permanent total disability and you need to apply for that through Sallie Mae and if they deny it then getting an attorney to pursue that discharge would be worth it.
JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).