Need advice, urgent

[tinkar]

What is the name of your state? - MN

I'm 21 - I have mulitpul loans that are default (5-10k) from college. I earn only 600 biweekly.

I have bill collectors calling me constantly...the last one said there isa hering on thursday to garnish my wages and possibly take my car (old and fully paid off)

I dont know much of anything about bankruptcy - is it somthing I should consider? I have no bank account (other than a savings) - no credit card debt, nor any other loans/leins im paying.



Any advice is going to help...i dont mind paying it voluntarily but every time i try to reason with them they hang up on me.

Thank you

 

[bigun]

How much total debt do you have?

 

[Who's Liable?]

You cannot discharge student loans... Who are the bill collectors, and what loans are they trying to collect on?

 

[tinkar]

a bit over 6k - they said they would knock it down to 5.1k if i payed now.

Otherwise on thursday (tomorrow) they're having a hering, or bringing it before a court or somthing (idk, its the first ive heard of it) to take wages.



I asked if I could do a payment plan, and they said they highly highly doubted it, but the only way was to fill out an application (over the phone...asking questions on the spot) and have that turned in - and she said it was an extreemly small chance that would be possible.


http://www.dcswins.com/ is the company that is threating to do this.


Also should i be giving info like that out, expecially info on my work number and references numbers as well? I feel thats not a good idea over the phone kind of thing.

Any advice will be apprecaited, thanks

 

[bigun]

No way I'd file bk over $6K.
First thing you do is see if you're really being sued. Check with your court clerk and see if any lawsuits have been filed.
Now, how much do you owe on nonsecured consumer debt? Your first post said multile accounts of $5K-$10K.
www,creditboards.com is a good site to learn about your rights when dealing with 3rd party collectors.

 

[tinkar]

see thats the thing, ive moved around a couple times, and now im back to my original place... and between that and not keeping track (Yes i was dumb after college) i dont know who/how much i owe....

this is the only one i know of for sure, ive madea few payments on a different loan. I doubt there is anywhere i can go to find specificially

 

[azgrandpa]

OK....first off, what they are telling you is probably all B.S! In all probability they are just another scumbag collection agency, trying to scare you into paying as much as they can get out of you! They don't even want to deal with a payment plan. So, DO NOT talk to them on the phone!! DO NOT tell them where you work! You are already in muck up to your ears, so a little non-coperation isn't going to worsen the situation any!

If it were me; I would be moving the savings into another bank. If they do sue you; they will probably attach that account. Also, if they get a judgement; and garnish your wages, then woop-de-doo; there's your payment plan! Of course, your employer may try to fire you, (which is illegal), but maybe that's a good thing. It will get you looking for a better job!

 

[bigun]

Pull your credit reports and see where you stand.

 

[tinkar]

Thanks, I'll give that a try. I just got promoted at work, so if the worst thats going to happen is garnishment, it wont be a total disaster.

I will grab a credit report asap and get things inline and if i need to come back i know where.

Thanks you very much guys/gals for your help/support. <3