Archived Urgent Help Needed Posts - They are asking for too much! I need counselling.

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They are asking for too much! I need counselling.

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Topic: They are asking for too much! I need counselling.

Posted By: fullerenedream
Subject: They are asking for too much! I need counselling.
Date Posted: 11/December/2012 at 4:37pm

Hello, I need some help. I have a lot of (government) student loan debt and I've been out of school for a few years. I've managed to make interest only or reduced payments when I couldn't get zero payments, up to this point. Now they are asking for $700 between now and the end of January (I talked them down from $1100 due immediately). This is after I told them that my job is probably ending at the end of this month!

My story is long and frustrating. It seems like their rules are unfair and arbitrary. They are always changing what they say. I have been trying so hard to reapply for repayment assistance, and they have made things very difficult for me. It feels like the system is built to encourage us to default.

I have not defaulted and I'm not in collections. I really want to deal with this without that happening.

At the same time, I'm scared that at some point I just won't be able to give them what they demand, and I wonder if defaulting will really ruin my life. How bad is it?

I really need to talk to some kind of counsellor - someone who helps people deal with their student loan issues. I don't know what sort of person that is or how to find them. Does anyone have any suggestions?

I have Canada and Nova Scotia loans and I live in Vancouver, if that makes any difference.