http://ask.metafilter.com/tags/educationloans Questions tagged with 'educationloans' at Ask MetaFilter. Thu, 24 Aug 2006 05:37:36 -0800 Thu, 24 Aug 2006 05:37:36 -0800 en-us http://blogs.law.harvard.edu/tech/rss 60 http://ask.metafilter.com/45125/Can%2DI%2Dsell%2Da%2Dbody%2Dpart I can't afford to repay my student loans, entirely my fault, what should I do? Several years ago I took out education loans from Wells Fargo, loans that I have yet to pay on. I essentially disappeared for several years and now the debt collection agency has caught up with me and is attempting to collect. 3 separate loans, totaling about $55,000. They'll settle the accounts if pay half that amount within the next 30 days . I can't afford to pay this. I can't afford to pay the nearly $1,000 in monthly payments to either.<br> <br> I also have about $30,000 in Federal student loans, which I pay about $200 a month on, which is also getting to be unaffordable, due to mortgage, car and child payments. Plus I got a notice saying the interest rates were supposed to go, which means more trouble.<br> <br> My wife an I only make about $50,00 a year, bring home about $2000 total a month after taxes.<br> <br> Yes, this mess is completely my making and yes I've been remiss in taking care of it. I accept that and realize that much of the rest of my life might be spent paying this off. I'm looking for practical advice on how I can straighten out this, please.<br> <br> I'm not good with money and all of this is extremely overwhelming to the point I don't know what to do.<br> <br> Is there someway I can consolidate these loans, either as a whole or partial?<br> <br> Am I in danger of bankruptcy? The house and car are not in my name, they are in my wife's name, could we lose them? What would bankruptcy mean? tag:ask.metafilter.com,2006:site.45125 Thu, 24 Aug 2006 05:37:36 -0800 bankruptcy educationloans loanrepayment repayment schoolloans anonpeon